Metalpha Technology Holding Limited (MATH) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for Q2 FY2022, filed Mar 11, 2022. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MATH SEC filings page.
Metalpha Technology Holding Limited (MATH) reported $226K in revenue for fiscal year 2021, up 1906.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
By FY2021, a shrinking revenue base sat beside rising leverage and recurring cash outflows, making financing structure more important than margins.
Revenue contracted from$2.8M in FY2019 to$226K in FY2021, while operating cash flow flipped from$774K generated to$2.8M used. That pairing means the contraction reached the cash engine itself, not just reported profitability.
The current ratio fell from 4.0x in FY2019 to 2.2x in FY2021, reducing the cushion implied by short-term assets relative to short-term obligations. Debt-to-equity rose from 0.3x to 0.8x over the same span, so the asset base became more dependent on liabilities as performance weakened.
Revenue contracted to a much smaller base, leaving less activity to absorb overhead. FY2021 SG&A reached
Financial Health Signals
Metalpha Technology Holding Limited does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Metalpha Technology Holding Limited passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Metalpha Technology Holding Limited reported a net loss of $5.1M while operations used $2.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Metalpha Technology Holding Limited reported an operating loss of $3.9M against $1.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q2 2022.
Cash & Balance Sheet
Metalpha Technology Holding Limited held $1.8M in cash as of Q2 2022; long-term debt is not reported for that period.
Not reported for Q2 2022.
Not reported for Q2 2022.
Margins & Returns
None of these metrics is reported for Q2 2022.
Capital Allocation
None of these metrics is reported for Q2 2022.
MATH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
MATH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2210-K | Q4'2110-K | Q2'2110-Q | Q4'2010-K | Q2'2010-Q | Q4'1910-K | Q4'1810-K | Q2'1810-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.7M+44.3% | $15.6M+56.9% | $8.8M-19.4% | $10.0M-19.1% | $10.9M | $12.3M-5.4% | $13.0M+209.0% | $12.9M |
| Current Assets | $11.9M+38.2% | $15.5M+59.4% | $8.6M-18.3% | $9.7M-17.8% | $10.5M | $11.8M+0.5% | $11.8M+190.9% | $12.7M |
| Cash & Equivalents | $1.8M+1052.6% | $983K+6069.4% | $154K+1035.8% | $16K-58.7% | $14K | $39K-99.0% | $3.9M+22.2% | $8.5M |
| Short-Term Investments | $2.1M-61.0% | $5.1M-9.2% | $5.5M-37.4% | $5.6M-40.9% | $8.8M | $9.5M+99.4% | $4.7M | $2.0M |
| Accounts Receivable | N/A | N/A | N/A | N/A | $940K | $1.7M+7.2% | $1.6M+139.1% | $1.9M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $76K+4.1% | $75K |
| Total Liabilities | $3.7M+56.5% | $7.1M+173.2% | $2.4M+2.8% | $2.6M-13.5% | $2.3M | $3.0M+48.1% | $2.0M+70.0% | $1.5M |
| Current Liabilities | $3.4M+47.4% | $7.1M+172.9% | $2.3M+2.7% | $2.6M-11.6% | $2.3M | $2.9M+44.8% | $2.0M+70.0% | $1.5M |
| Non-Current Liabilities | $258K+799.9% | $10K | $29K+13.9% | $0-100.0% | $25K | $67K | $0 | $0 |
| Total Equity | $9.5M+36.8% | $9.2M+15.7% | $7.0M-18.8% | $7.9M-15.0% | $8.6M | $9.3M-15.2% | $11.0M+263.8% | $11.4M |
| Retained Earnings | -$13.3M-569.9% | -$5.9M-683.7% | -$2.0M-450.9% | -$753K-213.5% | $566K | $664K-64.6% | $1.9M-8.5% | $2.4M |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
MATH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
MATH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Metalpha Technology Holding Limited MATH | FY2021 | $226K | -$5.1M | N/A | $49.9M | — |
| Fold Holdings, Inc. FLD | FY2025 | $31.8M | -$69.6M | N/A | $28.0M | 33/100 |
| Dominari Holdings Inc. DOMH | FY2025 | $123.1M | -$22.4M | -18.2% | $47.5M | 40/100 |
| The9 Limited NCTY | FY2025 | $15.4M | -$58.5M | N/A | $51.5M | 20/100 |
| Siebert Financial Corp SIEB | FY2025 | $94.2M | $5.1M | 5.4% | $80.4M | 43/100 |
| Forge Global Holdings, Inc. FRGE | FY2024 | $79.3M | -$66.3M | -83.6% | $623.0M | 30/100 |
Where Metalpha Technology Holding Limited Ranks
Frequently Asked Questions
What is Metalpha Technology Holding Limited's annual revenue?
Metalpha Technology Holding Limited (MATH) reported $226K in total revenue for fiscal year 2021. This represents a 1906.3% 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 Metalpha Technology Holding Limited's revenue growing?
Metalpha Technology Holding Limited (MATH) revenue grew by 1906.3% year-over-year, from $11K to $226K in fiscal year 2021.
Is Metalpha Technology Holding Limited profitable?
No, Metalpha Technology Holding Limited (MATH) reported a net income of -$5.1M in fiscal year 2021.
What is Metalpha Technology Holding Limited's EBITDA?
Metalpha Technology Holding Limited (MATH) had EBITDA of -$3.9M in fiscal year 2021, measuring earnings before interest, taxes, depreciation, and amortization.
What is Metalpha Technology Holding Limited's return on equity (ROE)?
Metalpha Technology Holding Limited (MATH) has a return on equity of -56.2% for fiscal year 2021, measuring how efficiently the company generates profit from shareholder equity.
What is Metalpha Technology Holding Limited's operating cash flow?
Metalpha Technology Holding Limited (MATH) recorded an outflow of $2.8M in operating cash flow during fiscal year 2021, representing cash used by core business activities.
What are Metalpha Technology Holding Limited's total assets?
Metalpha Technology Holding Limited (MATH) had $15.6M in total assets as of fiscal year 2021, including both current and long-term assets.
What is Metalpha Technology Holding Limited's current ratio?
Metalpha Technology Holding Limited (MATH) had a current ratio of 2.20 as of fiscal year 2021, which is generally considered healthy.
What is Metalpha Technology Holding Limited's debt-to-equity ratio?
Metalpha Technology Holding Limited (MATH) had a debt-to-equity ratio of 0.77 as of fiscal year 2021, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Metalpha Technology Holding Limited's return on assets (ROA)?
Metalpha Technology Holding Limited (MATH) had a return on assets of -32.9% for fiscal year 2021, measuring how efficiently the company uses its assets to generate profit.
What is Metalpha Technology Holding Limited's P/E ratio?
Metalpha Technology Holding Limited (MATH) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2021). The market capitalization is $49.9M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Metalpha Technology Holding Limited's price-to-sales ratio?
Metalpha Technology Holding Limited (MATH) trades at 221x sales, its market capitalization divided by revenue of $226K revenue, FY2021. The market capitalization is $49.9M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Metalpha Technology Holding Limited's Piotroski F-Score?
Metalpha Technology Holding Limited (MATH) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Metalpha Technology Holding Limited's earnings high quality?
Metalpha Technology Holding Limited (MATH) reported a net loss of $5.1M while operations used $2.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Metalpha Technology Holding Limited cover its interest payments?
Metalpha Technology Holding Limited (MATH) reported an operating loss of $3.9M against $1.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.