Mogu Inc Financials

MOGU

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

This page shows Mogu Inc (MOGU) 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 26/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Mogu Inc has an operating margin of -71.6%, meaning the company retains $-72 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 down from -49.4% the prior year.

Growth

Mogu Inc's revenue declined 12.4% year-over-year, from $22.2M to $19.5M. This contraction results in a growth score of 0/100.

Leverage

Mogu Inc carries a low D/E ratio of 0.63, meaning only $0.63 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Mogu Inc's current ratio of 1.51 indicates adequate short-term liquidity, earning a score of 41/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Mogu Inc generated -$9.4M in operating cash flow, capex of $1.4M consumed most of it, leaving -$10.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

0/9

Mogu Inc passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

1.09x

For every $1 of reported earnings, Mogu Inc generates $1.09 in operating cash flow (-$9.4M OCF vs -$8.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$19.5M

YoY-12.4%

5Y CAGR-30.3%

Mogu Inc generated $19.5M in revenue in fiscal year 2025. This represents a decrease of 12.4% from the prior year.

EBITDA

-$12.3M

YoY-28.8%

Mogu Inc's EBITDA was -$12.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 28.8% from the prior year.

Free Cash Flow

-$10.7M

YoY+42.4%

Mogu Inc generated -$10.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 42.4% from the prior year.

Net Income

-$8.6M

YoY-5.0%

Mogu Inc reported -$8.6M in net income in fiscal year 2025. This represents a decrease of 5.0% from the prior year.

EPS (Diluted)

$0.00

Mogu Inc earned $0.00 per diluted share (EPS) in fiscal year 2025.

Cash & Debt

$11.3M

YoY-77.3%

5Y CAGR-37.8%

Mogu Inc held $11.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

40.0%

YoY-3.2pp

5Y CAGR-24.9pp

Mogu Inc's gross margin was 40.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.2 percentage points from the prior year.

Operating Margin

-71.6%

YoY-22.2pp

5Y CAGR+176.5pp

Mogu Inc's operating margin was -71.6% in fiscal year 2025, reflecting core business profitability. This is down 22.2 percentage points from the prior year.

Net Margin

-44.3%

YoY-7.3pp

5Y CAGR+221.9pp

Mogu Inc's net profit margin was -44.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 7.3 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$4.1M

YoY+11.6%

5Y CAGR-29.8%

Mogu Inc invested $4.1M in research and development in fiscal year 2025. This represents an increase of 11.6% from the prior year.

Share Buybacks

$113K

5Y CAGR-34.4%

Mogu Inc spent $113K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$1.4M

YoY-89.3%

5Y CAGR-1.2%

Mogu Inc invested $1.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 89.3% from the prior year.

MOGU Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$19.5M-12.4%	$22.2M-34.3%	$33.8M-36.5%	$53.2M-27.7%	$73.6M-37.6%	$118.0M
Cost of Revenue	$11.7M-7.5%	$12.6M-23.8%	$16.6M-34.1%	$25.2M-9.9%	$27.9M-32.6%	$41.5M
Gross Profit	$7.8M-18.8%	$9.6M-44.3%	$17.2M-38.7%	$28.1M-38.6%	$45.7M-40.3%	$76.5M
R&D Expenses	$4.1M+11.6%	$3.7M-31.4%	$5.4M-58.6%	$13.0M-17.5%	$15.8M-34.7%	$24.2M
SG&A Expenses	$7.8M+2.3%	$7.6M-17.3%	$9.2M-26.0%	$12.5M-20.6%	$15.7M-13.1%	$18.1M
Operating Income	-$13.9M-27.1%	-$11.0M+59.8%	-$27.3M+74.2%	-$105.8M-61.6%	-$65.5M+77.6%	-$292.7M
Interest Expense	$0-100.0%	$26K-70.1%	$87K	N/A	N/A	N/A
Income Tax	$116K+151.8%	-$224K+22.2%	-$288K+87.4%	-$2.3M-389.4%	$791K+1053.0%	-$83K
Net Income	-$8.6M-5.0%	-$8.2M+68.3%	-$25.9M+74.3%	-$100.9M-101.6%	-$50.1M+84.1%	-$314.0M
EPS (Diluted)	$0.00	$0.00+100.0%	$-0.01+75.0%	$-0.04-100.0%	$-0.02+83.3%	$-0.12

Metric	Q1'25	Q1'24	Q1'23	Q1'22	Q1'21	Q1'20	Q1'19
Revenue	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
Gross Profit	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
SG&A Expenses	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
Interest Expense	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
Net Income	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

MOGU Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$118.3M-9.0%	$130.0M-9.5%	$143.6M-22.0%	$184.1M-34.4%	$280.8M-18.5%	$344.7M
Current Assets	$66.9M-4.9%	$70.3M-24.6%	$93.3M-17.7%	$113.4M-24.7%	$150.7M-18.6%	$185.1M
Cash & Equivalents	$11.3M-77.3%	$49.7M-18.0%	$60.6M-12.4%	$69.2M-16.4%	$82.7M-31.6%	$121.0M
Inventory	$2K-85.7%	$14K-33.3%	$21K+75.0%	$12K-67.6%	$37K-91.0%	$413K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	$0-100.0%	$10.0M-64.8%	$28.5M+8.1%	$26.3M
Total Liabilities	$44.3M-1.3%	$44.9M-2.1%	$45.8M-13.2%	$52.8M-10.1%	$58.8M-9.6%	$65.0M
Current Liabilities	$44.2M-0.8%	$44.6M-1.5%	$45.2M-10.9%	$50.8M-8.9%	$55.8M-9.3%	$61.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$70.1M-13.9%	$81.5M-12.2%	$92.8M-25.5%	$124.6M-43.9%	$222.1M-20.6%	$279.7M
Retained Earnings	-$1.2B-0.2%	-$1.2B+4.2%	-$1.3B+5.8%	-$1.4B-11.6%	-$1.2B-12.7%	-$1.1B

Metric	Q1'25	Q1'24	Q1'23	Q1'22	Q1'21	Q1'20	Q1'19
Total Assets	$118.3M-9.0%	$130.0M-9.5%	$143.6M-22.0%	$184.1M-34.4%	$280.8M-18.5%	$344.7M-49.8%	$686.0M
Current Assets	$66.9M-4.9%	$70.3M-24.6%	$93.3M-17.7%	$113.4M-24.7%	$150.7M-18.6%	$185.1M-30.2%	$265.0M
Cash & Equivalents	$11.3M-77.3%	$49.7M-18.0%	$60.6M-12.4%	$69.2M-16.4%	$82.7M-31.6%	$121.0M-36.4%	$190.2M
Inventory	$2K-85.7%	$14K-33.3%	$21K+75.0%	$12K-67.6%	$37K-91.0%	$413K-45.0%	$751K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	$0-100.0%	$10.0M-64.8%	$28.5M+8.1%	$26.3M-88.7%	$233.7M
Total Liabilities	$44.3M-1.3%	$44.9M-2.1%	$45.8M-13.2%	$52.8M-10.1%	$58.8M-9.6%	$65.0M-21.6%	$82.9M
Current Liabilities	$44.2M-0.8%	$44.6M-1.5%	$45.2M-10.9%	$50.8M-8.9%	$55.8M-9.3%	$61.5M-24.9%	$81.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$70.1M-13.9%	$81.5M-12.2%	$92.8M-25.5%	$124.6M-43.9%	$222.1M-20.6%	$279.7M-53.6%	$603.1M
Retained Earnings	-$1.2B-0.2%	-$1.2B+4.2%	-$1.3B+5.8%	-$1.4B-11.6%	-$1.2B-12.7%	-$1.1B-33.6%	-$808.4M

MOGU Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$9.4M-67.0%	-$5.6M-281.5%	-$1.5M+91.9%	-$18.0M-51.7%	-$11.9M+73.0%	-$44.0M
Capital Expenditures	$1.4M-89.3%	$13.0M+372.3%	$2.8M-68.3%	$8.7M-62.7%	$23.3M+1482.8%	$1.5M
Free Cash Flow	-$10.7M+42.4%	-$18.6M-340.8%	-$4.2M+84.2%	-$26.7M+24.0%	-$35.2M+22.7%	-$45.5M
Investing Cash Flow	-$28.7M-946.5%	-$2.7M-3176.4%	$89K-96.0%	$2.2M+114.9%	-$14.8M+7.7%	-$16.0M
Financing Cash Flow	-$113K	$0+100.0%	-$1.8M-2574.6%	$71K+100.4%	-$18.2M-339.4%	-$4.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$113K	$0-100.0%	$194K-87.3%	$1.5M-91.6%	$18.3M+1873.5%	$927K

Metric	Q1'25	Q1'24	Q1'23	Q1'22	Q1'21	Q1'20	Q1'19
Operating Cash Flow	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
Free Cash Flow	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
Financing Cash Flow	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
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MOGU Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	40.0%-3.2pp	43.1%-7.8pp	50.9%-1.8pp	52.7%-9.3pp	62.0%-2.8pp	64.8%
Operating Margin	-71.6%-22.2pp	-49.4%+31.4pp	-80.8%+117.9pp	-198.7%-109.7pp	-88.9%+159.2pp	-248.2%
Net Margin	-44.3%-7.3pp	-37.0%+39.7pp	-76.7%+112.9pp	-189.6%-121.6pp	-68.0%+198.2pp	-266.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-7.3%-1.0pp	-6.3%+11.7pp	-18.1%+36.8pp	-54.8%-37.0pp	-17.8%+73.3pp	-91.1%
Current Ratio	1.51-0.1	1.58-0.5	2.06-0.2	2.23-0.5	2.70-0.3	3.01
Debt-to-Equity	0.63+0.1	0.55+0.1	0.49+0.1	0.42+0.2	0.26+0.0	0.23
FCF Margin	-55.2%+28.7pp	-84.0%-71.4pp	-12.5%+37.7pp	-50.2%-2.4pp	-47.8%-9.2pp	-38.6%

Metric	Q1'25	Q1'24	Q1'23	Q1'22	Q1'21	Q1'20	Q1'19
Gross Margin	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
Net Margin	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
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.51-0.1	1.58-0.5	2.06-0.2	2.23-0.5	2.70-0.3	3.01-0.2	3.24
Debt-to-Equity	0.63+0.1	0.55+0.1	0.49+0.1	0.42+0.2	0.26+0.0	0.23+0.1	0.14
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Mogu Inc's annual revenue?

Mogu Inc (MOGU) reported $19.5M in total revenue for fiscal year 2025. This represents a -12.4% 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 Mogu Inc's revenue growing?

Mogu Inc (MOGU) revenue declined by 12.4% year-over-year, from $22.2M to $19.5M in fiscal year 2025.

Is Mogu Inc profitable?

No, Mogu Inc (MOGU) reported a net income of -$8.6M in fiscal year 2025, with a net profit margin of -44.3%.

What is Mogu Inc's earnings per share (EPS)?

Mogu Inc (MOGU) reported diluted earnings per share of $0.00 for fiscal year 2025. 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 Mogu Inc's EBITDA?

Mogu Inc (MOGU) had EBITDA of -$12.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Mogu Inc's gross margin?

Mogu Inc (MOGU) had a gross margin of 40.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Mogu Inc's operating margin?

Mogu Inc (MOGU) had an operating margin of -71.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Mogu Inc's net profit margin?

Mogu Inc (MOGU) had a net profit margin of -44.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Mogu Inc's free cash flow?

Mogu Inc (MOGU) generated -$10.7M in free cash flow during fiscal year 2025. This represents a 42.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Mogu Inc's operating cash flow?

Mogu Inc (MOGU) generated -$9.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Mogu Inc's total assets?

Mogu Inc (MOGU) had $118.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Mogu Inc's capital expenditures?

Mogu Inc (MOGU) invested $1.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Mogu Inc spend on research and development?

Mogu Inc (MOGU) invested $4.1M in research and development during fiscal year 2025.

Does Mogu Inc buy back shares?

Yes, Mogu Inc (MOGU) spent $113K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Mogu Inc's current ratio?

Mogu Inc (MOGU) had a current ratio of 1.51 as of fiscal year 2025, which is generally considered healthy.

What is Mogu Inc's debt-to-equity ratio?

Mogu Inc (MOGU) had a debt-to-equity ratio of 0.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Mogu Inc's return on assets (ROA)?

Mogu Inc (MOGU) had a return on assets of -7.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Mogu Inc's cash runway?

Based on fiscal year 2025 data, Mogu Inc (MOGU) had $11.3M in cash against an annual operating cash burn of $9.4M. This gives an estimated cash runway of approximately 14 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 Mogu Inc's Piotroski F-Score?

Mogu Inc (MOGU) has a Piotroski F-Score of 0 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 Mogu Inc's earnings high quality?

Mogu Inc (MOGU) has an earnings quality ratio of 1.09x, 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.

How financially healthy is Mogu Inc?

Mogu Inc (MOGU) scores 26 out of 100 on our Financial Profile, indicating weak 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.