Ezgo Technologies Ltd Financials

EZGO

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2025 Currency USD FYE September

This page shows Ezgo Technologies Ltd (EZGO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 70/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Ezgo Technologies Ltd has an operating margin of -20.0%, meaning the company retains $-20 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -30.1% the prior year.

Growth

100

Ezgo Technologies Ltd's revenue surged 32.7% year-over-year to $21.1M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

Ezgo Technologies Ltd carries a low D/E ratio of 0.13, meaning only $0.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 2.45, Ezgo Technologies Ltd holds $2.45 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 78/100.

Piotroski F-Score Weak

1/9

Ezgo Technologies Ltd passes 1 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

1.42x

For every $1 of reported earnings, Ezgo Technologies Ltd generates $1.42 in operating cash flow (-$10.3M OCF vs -$7.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-13.2x

Ezgo Technologies Ltd earns $-13.2 in operating income for every $1 of interest expense (-$4.2M vs $320K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Revenue

$21.1M

YoY+32.7%

5Y CAGR+72.8%

Ezgo Technologies Ltd generated $21.1M in revenue in fiscal year 2024. This represents an increase of 32.7% from the prior year.

EBITDA

-$3.3M

YoY+9.5%

Ezgo Technologies Ltd's EBITDA was -$3.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.5% from the prior year.

Free Cash Flow

N/A

Net Income

-$7.3M

YoY-7.4%

Ezgo Technologies Ltd reported -$7.3M in net income in fiscal year 2024. This represents a decrease of 7.4% from the prior year.

EPS (Diluted)

$-2.80

YoY+52.6%

Ezgo Technologies Ltd earned $-2.80 per diluted share (EPS) in fiscal year 2024. This represents an increase of 52.6% from the prior year.

Cash & Debt

$3.4M

YoY-80.2%

5Y CAGR-1.2%

Ezgo Technologies Ltd held $3.4M in cash against $7.5M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

YoY+4.8%

Ezgo Technologies Ltd had 3M shares outstanding in fiscal year 2024. This represents an increase of 4.8% from the prior year.

Gross Margin

7.1%

YoY-0.0pp

5Y CAGR-74.9pp

Ezgo Technologies Ltd's gross margin was 7.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.0 percentage points from the prior year.

Operating Margin

-20.0%

YoY+10.1pp

5Y CAGR-76.5pp

Ezgo Technologies Ltd's operating margin was -20.0% in fiscal year 2024, reflecting core business profitability. This is up 10.1 percentage points from the prior year.

Net Margin

-34.5%

YoY+8.1pp

5Y CAGR-194.3pp

Ezgo Technologies Ltd's net profit margin was -34.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 8.1 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$894K

YoY+37.0%

Ezgo Technologies Ltd invested $894K in research and development in fiscal year 2024. This represents an increase of 37.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

EZGO Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$21.1M+32.7%	$15.9M-8.4%	$17.4M-25.8%	$23.4M+53.7%	$15.2M+1011.7%	$1.4M
Cost of Revenue	$19.6M+32.8%	$14.8M-13.9%	$17.2M-25.5%	$23.0M+68.1%	$13.7M+5454.2%	$247K
Gross Profit	$1.5M+32.5%	$1.1M+420.2%	$219K-42.7%	$382K-75.1%	$1.5M+36.9%	$1.1M
R&D Expenses	$894K+37.0%	$652K-22.3%	$840K	N/A	N/A	N/A
SG&A Expenses	$4.3M-8.3%	$4.7M-3.6%	$4.8M+78.9%	$2.7M+149.8%	$1.1M+238.3%	$320K
Operating Income	-$4.2M+12.0%	-$4.8M+25.8%	-$6.5M-66.7%	-$3.9M-5487.8%	$72K-90.7%	$776K
Interest Expense	$320K+344.2%	$72K-31.6%	$105K+770.8%	$12K-44.2%	$22K+13.1%	$19K
Income Tax	-$786K-1159.3%	-$62K-111.8%	$527K+225.7%	-$419K-461.4%	$116K-57.6%	$274K
Net Income	-$7.3M-7.4%	-$6.8M-4.9%	-$6.5M-89.4%	-$3.4M-1332.7%	$277K-87.4%	$2.2M
EPS (Diluted)	$-2.80+52.6%	$-5.91	$-18.92-6907.4%	$-0.27-1450.0%	$0.02-91.3%	$0.23

Metric	Q2'25	Q2'24	Q3'23	Q2'23	Q3'22	Q3'21	Q3'20	Q3'19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

EZGO Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$85.4M+4.2%	$81.9M+72.4%	$47.5M+13.1%	$42.0M+112.0%	$19.8M+3.4%	$19.2M
Current Assets	$41.4M-9.8%	$45.9M+38.5%	$33.2M+19.8%	$27.7M+69.6%	$16.3M-2.3%	$16.7M
Cash & Equivalents	$3.4M-80.2%	$17.3M+293.0%	$4.4M-8.1%	$4.8M+1380.0%	$323K-91.1%	$3.6M
Inventory	$523K-36.9%	$829K+117.6%	$381K-58.8%	$924K+6.5%	$868K-69.1%	$2.8M
Accounts Receivable	$7.8M+106.4%	$3.8M-49.9%	$7.5M+10.1%	$6.8M+8.3%	$6.3M+5381.6%	$115K
Goodwill	$1.8M-41.8%	$3.1M	N/A	N/A	N/A	N/A
Total Liabilities	$24.4M+58.0%	$15.4M+10.4%	$14.0M+47.4%	$9.5M-13.5%	$10.9M0.0%	$10.9M
Current Liabilities	$16.9M+53.0%	$11.0M-21.0%	$14.0M+47.4%	$9.5M+42.0%	$6.7M-2.4%	$6.8M
Long-Term Debt	$7.5M+70.1%	$4.4M	N/A	N/A	N/A	$7K
Total Equity	$58.6M-7.6%	$63.4M+106.9%	$30.6M+7.4%	$28.5M+221.5%	$8.9M+7.8%	$8.2M
Retained Earnings	-$22.1M-49.5%	-$14.8M-87.3%	-$7.9M	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q3'23	Q2'23	Q3'22	Q3'21	Q3'20	Q3'19
Total Assets	$78.6M-4.8%	$82.6M+0.8%	$81.9M+20.5%	$68.0M+43.0%	$47.5M+13.1%	$42.0M+112.0%	$19.8M+3.4%	$19.2M
Current Assets	$32.3M-38.1%	$52.2M+13.7%	$45.9M+14.3%	$40.2M+21.2%	$33.2M+19.8%	$27.7M+69.6%	$16.3M-2.3%	$16.7M
Cash & Equivalents	$373K-41.9%	$641K-96.3%	$17.3M+656.7%	$2.3M-48.1%	$4.4M-8.1%	$4.8M+1380.0%	$323K-91.1%	$3.6M
Inventory	$4.8M+13.7%	$4.2M+408.9%	$829K-80.1%	$4.2M+995.6%	$381K-58.8%	$924K+6.5%	$868K-69.1%	$2.8M
Accounts Receivable	$6.7M+56.4%	$4.3M+12.7%	$3.8M-32.5%	$5.6M-25.8%	$7.5M+10.1%	$6.8M+8.3%	$6.3M+5381.6%	$115K
Goodwill	$1.7M-0.5%	$1.7M-43.4%	$3.1M-39.9%	$5.1M	N/A	N/A	N/A	N/A
Total Liabilities	$21.3M+6.7%	$19.9M+29.3%	$15.4M-13.7%	$17.9M+28.0%	$14.0M+47.4%	$9.5M-13.5%	$10.9M0.0%	$10.9M
Current Liabilities	$14.8M+14.3%	$13.0M+17.7%	$11.0M-26.4%	$15.0M+7.4%	$14.0M+47.4%	$9.5M+42.0%	$6.7M-2.4%	$6.8M
Long-Term Debt	$6.4M-7.2%	$6.9M+57.6%	$4.4M	N/A	N/A	N/A	N/A	$7K
Total Equity	$55.0M-8.4%	$60.1M-5.2%	$63.4M+26.6%	$50.1M+63.4%	$30.6M+7.4%	$28.5M+221.5%	$8.9M+7.8%	$8.2M
Retained Earnings	-$23.2M-23.4%	-$18.8M-27.4%	-$14.8M-16.5%	-$12.7M-60.8%	-$7.9M	N/A	N/A	N/A

EZGO Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$10.3M-445.0%	-$1.9M+81.7%	-$10.4M-65.5%	-$6.3M-255.4%	$4.0M+248.9%	-$2.7M
Capital Expenditures	N/A	N/A	N/A	$6.7M+186.8%	$2.3M+86.8%	$1.3M
Free Cash Flow	N/A	N/A	N/A	-$13.0M-872.6%	$1.7M+142.5%	-$4.0M
Investing Cash Flow	-$11.2M+46.9%	-$21.2M-372.9%	-$4.5M+59.4%	-$11.0M-229.5%	-$3.3M-74.3%	-$1.9M
Financing Cash Flow	$8.6M-76.1%	$36.2M+153.9%	$14.2M-37.4%	$22.8M+668.5%	-$4.0M-148.7%	$8.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q3'23	Q2'23	Q3'22	Q3'21	Q3'20	Q3'19
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

EZGO Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	7.1%-0.0pp	7.2%+5.9pp	1.3%-0.4pp	1.6%-8.5pp	10.1%-71.9pp	82.0%
Operating Margin	-20.0%+10.1pp	-30.1%+7.1pp	-37.2%-20.6pp	-16.6%-17.0pp	0.5%-56.1pp	56.6%
Net Margin	-34.5%+8.1pp	-42.6%-5.4pp	-37.2%-22.6pp	-14.6%-16.4pp	1.8%-158.0pp	159.8%
Return on Equity	N/A	N/A	N/A	N/A	3.1%-23.5pp	26.6%
Return on Assets	-8.5%-0.3pp	-8.3%+5.3pp	-13.6%-5.5pp	-8.1%-9.5pp	1.4%-10.0pp	11.4%
Current Ratio	2.45-1.7	4.16+1.8	2.37-0.5	2.92+0.5	2.450.0	2.44
Debt-to-Equity	0.13+0.1	0.07-0.4	0.46+0.1	0.33-0.9	1.23+1.2	0.00
FCF Margin	N/A	N/A	N/A	-55.4%-66.4pp	11.0%+299.6pp	-288.6%

Metric	Q2'25	Q2'24	Q3'23	Q2'23	Q3'22	Q3'21	Q3'20	Q3'19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.18-1.8	4.02-0.1	4.16+1.5	2.68+0.3	2.37-0.5	2.92+0.5	2.450.0	2.44
Debt-to-Equity	0.120.0	0.12+0.0	0.07-0.3	0.36-0.1	0.46+0.1	0.33-0.9	1.23+1.2	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

Vision Marine Technologies Inc VMAR

$2.7M

Twin Vee Powercats Co VEEE

$2.1M

Kandi Technologies Group, Inc. KNDI

$87.8M

Massimo Group MAMO

$39.6M

Mastercraft Boat Holdings Inc MCFT

$384.8M

Frequently Asked Questions

What is Ezgo Technologies Ltd's annual revenue?

Ezgo Technologies Ltd (EZGO) reported $21.1M in total revenue for fiscal year 2024. This represents a 32.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ezgo Technologies Ltd's revenue growing?

Ezgo Technologies Ltd (EZGO) revenue grew by 32.7% year-over-year, from $15.9M to $21.1M in fiscal year 2024.

Is Ezgo Technologies Ltd profitable?

No, Ezgo Technologies Ltd (EZGO) reported a net income of -$7.3M in fiscal year 2024, with a net profit margin of -34.5%.

What is Ezgo Technologies Ltd's earnings per share (EPS)?

Ezgo Technologies Ltd (EZGO) reported diluted earnings per share of $-2.80 for fiscal year 2024. This represents a 52.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Ezgo Technologies Ltd's EBITDA?

Ezgo Technologies Ltd (EZGO) had EBITDA of -$3.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Ezgo Technologies Ltd have?

As of fiscal year 2024, Ezgo Technologies Ltd (EZGO) had $3.4M in cash and equivalents against $7.5M in long-term debt.

What is Ezgo Technologies Ltd's gross margin?

Ezgo Technologies Ltd (EZGO) had a gross margin of 7.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ezgo Technologies Ltd's operating margin?

Ezgo Technologies Ltd (EZGO) had an operating margin of -20.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Ezgo Technologies Ltd's net profit margin?

Ezgo Technologies Ltd (EZGO) had a net profit margin of -34.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Ezgo Technologies Ltd's operating cash flow?

Ezgo Technologies Ltd (EZGO) generated -$10.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Ezgo Technologies Ltd's total assets?

Ezgo Technologies Ltd (EZGO) had $85.4M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Ezgo Technologies Ltd spend on research and development?

Ezgo Technologies Ltd (EZGO) invested $894K in research and development during fiscal year 2024.

How many shares does Ezgo Technologies Ltd have outstanding?

Ezgo Technologies Ltd (EZGO) had 3M shares outstanding as of fiscal year 2024.

What is Ezgo Technologies Ltd's current ratio?

Ezgo Technologies Ltd (EZGO) had a current ratio of 2.45 as of fiscal year 2024, which is generally considered healthy.

What is Ezgo Technologies Ltd's debt-to-equity ratio?

Ezgo Technologies Ltd (EZGO) had a debt-to-equity ratio of 0.13 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ezgo Technologies Ltd's return on assets (ROA)?

Ezgo Technologies Ltd (EZGO) had a return on assets of -8.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Ezgo Technologies Ltd's cash runway?

Based on fiscal year 2024 data, Ezgo Technologies Ltd (EZGO) had $3.4M in cash against an annual operating cash burn of $10.3M. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Ezgo Technologies Ltd's Piotroski F-Score?

Ezgo Technologies Ltd (EZGO) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ezgo Technologies Ltd's earnings high quality?

Ezgo Technologies Ltd (EZGO) has an earnings quality ratio of 1.42x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Ezgo Technologies Ltd cover its interest payments?

Ezgo Technologies Ltd (EZGO) has an interest coverage ratio of -13.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Ezgo Technologies Ltd?

Ezgo Technologies Ltd (EZGO) scores 70 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.