NaaS Technology Inc. (NAAS) 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 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NAAS SEC filings page.
NaaS Technology Inc. (NAAS) reported $17.0M in revenue for fiscal year 2025. 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 FY2025, NaaS had become a much smaller business with a liabilities-heavy balance sheet and almost no operating cash movement.
A net loss of$64.3M alongside operating cash flow of$74K means the reported loss was not mirrored by cash leaving operations in FY2025. That gap points to non-cash, non-operating, or working-capital effects, but the supplied lines do not identify the mix.
FY2025 assets of
The current ratio fell from 0.6x in FY2020 to 0.2x in FY2025, so current assets represented only a fraction of current liabilities at the latest period. Together with near-zero operating cash flow, the latest figures show limited short-term balance-sheet flexibility.
Financial Health Signals
NaaS Technology Inc. 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.
NaaS Technology Inc. passes 2 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
NaaS Technology Inc. reported a net loss of $64.3M while generating $74K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q3 2022.
Cash & Balance Sheet
NaaS Technology Inc. held $2.5M in cash as of Q3 2022; long-term debt is not reported for that period.
Not reported for Q3 2022.
Not reported for Q3 2022.
Margins & Returns
None of these metrics is reported for Q3 2022.
Capital Allocation
None of these metrics is reported for Q3 2022.
NAAS 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).
NAAS 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 | Q3'2210-K | Q3'2110-K | Q3'2010-K | Q3'1910-K | Q3'1810-K |
|---|---|---|---|---|---|
| Total Assets | $4.8M-98.7% | $371.9M-7.6% | $402.5M+21.3% | $331.7M+10.3% | $300.7M |
| Current Assets | $4.8M-95.8% | $114.1M-26.8% | $155.8M-23.6% | $204.0M+16.2% | $175.6M |
| Cash & Equivalents | $2.5M-97.0% | $85.0M-40.8% | $143.5M-23.4% | $187.3M+15.4% | $162.3M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Inventory | N/A | $1.2M-4.0% | $1.2M-24.2% | $1.6M+35.5% | $1.2M |
| Accounts Receivable | N/A | $350K+39.4% | $251K-29.3% | $355K-6.6% | $380K |
| Long-Term Investments | $0 | $0-100.0% | $4.7M | $0 | $0 |
| Goodwill | N/A | $101.0M+5.7% | $95.6M+33.6% | $71.6M-2.1% | $73.1M |
| Total Liabilities | $18.8M-93.6% | $295.0M-5.7% | $312.8M+16.9% | $267.6M+4.8% | $255.2M |
| Current Liabilities | $1.4M-99.2% | $179.1M+1.1% | $177.2M-4.7% | $186.0M+17.4% | $158.4M |
| Non-Current Liabilities | $17.4M-85.0% | $115.9M-14.5% | $135.6M+66.2% | $81.6M-15.7% | $96.8M |
| Long-Term Debt | N/A | $29.3M-44.8% | $53.2M-27.2% | $73.1M-23.7% | $95.8M |
| Total Equity | -$14.0M-118.4% | $75.9M-13.2% | $87.5M+31.9% | $66.3M+39.1% | $47.7M |
| Retained Earnings | -$63.3M-58.8% | -$39.9M-118.3% | -$18.3M+49.5% | -$36.2M+25.4% | -$48.5M |
NAAS 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.
NAAS 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.
Note: Shareholder equity is negative (-$127.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.19), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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 |
|---|---|---|---|---|---|---|
| NaaS Technology Inc. NAAS | FY2025 | $17.0M | -$64.3M | N/A | $75.0M | — |
| PTL LTD PTLE | FY2025 | $71.6M | -$1.2M | -1.7% | $45.0M | 29/100 |
| Boqii Holding Limited BQ | FY2026 | $61.0M | -$738K | -1.2% | $5.6M | 30/100 |
| NUVVE HOLDING CORP NEW NVVE | FY2025 | $4.8M | -$30.8M | N/A | $1.7M | — |
| Fitell Corporation FTEL | FY2025 | $5.2M | -$683K | -13.1% | $2.3M | 34/100 |
| Tokyo Lifestyle Co., Ltd. TKLF | FY2026 | $373.2M | $717K | 0.2% | $8.8M | 46/100 |
Where NaaS Technology Inc. Ranks
Frequently Asked Questions
What is NaaS Technology Inc.'s annual revenue?
NaaS Technology Inc. (NAAS) reported $17.0M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is NaaS Technology Inc. profitable?
No, NaaS Technology Inc. (NAAS) reported a net income of -$64.3M in fiscal year 2025.
How much debt does NaaS Technology Inc. have?
As of fiscal year 2025, NaaS Technology Inc. (NAAS) had $11.6M in cash and equivalents against $160K in long-term debt.
What is NaaS Technology Inc.'s operating cash flow?
NaaS Technology Inc. (NAAS) generated $74K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are NaaS Technology Inc.'s total assets?
NaaS Technology Inc. (NAAS) had $44.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is NaaS Technology Inc.'s current ratio?
NaaS Technology Inc. (NAAS) had a current ratio of 0.19 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is NaaS Technology Inc.'s return on assets (ROA)?
NaaS Technology Inc. (NAAS) had a return on assets of -144.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is NaaS Technology Inc.'s P/E ratio?
NaaS Technology Inc. (NAAS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $75.0M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is NaaS Technology Inc.'s price-to-sales ratio?
NaaS Technology Inc. (NAAS) trades at 4.4x sales, its market capitalization divided by revenue of $17.0M revenue, FY2025. The market capitalization is $75.0M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is NaaS Technology Inc.'s debt-to-equity ratio negative or not reported?
NaaS Technology Inc. (NAAS) has negative shareholder equity of -$127.7M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is NaaS Technology Inc.'s Piotroski F-Score?
NaaS Technology Inc. (NAAS) has a Piotroski F-Score of 2 out of 5 computable signals; 4 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 NaaS Technology Inc.'s earnings high quality?
NaaS Technology Inc. (NAAS) reported a net loss of $64.3M while generating $74K in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, 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.