What is NaaS Technology ADR's earnings per share (EPS)?

NaaS Technology ADR (NAAS) reported diluted earnings per share of $0.01 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.

NaaS Technology ADR Financials

NAAS

Source SEC Filings (10-K/10-Q) Updated Apr 17, 2026 Currency USD FYE April

This page shows NaaS Technology ADR (NAAS) financial statements, including the 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).

Rhea AI NAAS FY2025 2026-04-22

Liability management, not operating scale, appears to be the core mechanic because near-term obligations overwhelm current resources.

The striking gap between net loss of -$64.3M and operating cash flow of $74K suggests reported losses are being driven largely by non-cash items rather than an equal cash drain. With a current ratio of 0.2x and $160.6M of current liabilities, near-term funding depends more on liability management than on what the current operating footprint can self-finance.

The balance sheet is creditor-funded: liabilities of $172.3M exceed assets of $44.7M, leaving negative equity. Because long-term debt is just $160K, the pressure appears concentrated in current or other non-debt obligations rather than classic term borrowing.

Revenue of $17.0M is small relative to the obligation stack, so the visible operating base is not yet large enough to naturally de-lever the balance sheet through ordinary business activity. The notable point is cash preservation: despite a -378.7% net margin, operations were roughly cash neutral.

Financial Health Signals

Financial Profile 16/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of NaaS Technology ADR's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Liquidity

NaaS Technology ADR's current ratio of 0.19 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Piotroski F-Score Weak

2/9

NaaS Technology ADR passes 2 of 9 financial strength tests. 2 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Mixed

-0.00x

For every $1 of reported earnings, NaaS Technology ADR generates $-0.00 in operating cash flow ($74K OCF vs -$64.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$17.0M

5Y CAGR-35.2%

NaaS Technology ADR generated $17.0M in revenue in fiscal year 2025.

EBITDA

N/A

Net Income

-$64.3M

NaaS Technology ADR reported -$64.3M in net income in fiscal year 2025.

EPS (Diluted)

$0.01

NaaS Technology ADR earned $0.01 per diluted share (EPS) in fiscal year 2025. This represents an increase of 102.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$11.6M

YoY+361.4%

5Y CAGR-41.0%

NaaS Technology ADR held $11.6M in cash against $160K in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

32.45B

NaaS Technology ADR had 32.45B shares outstanding in fiscal year 2025. This represents an increase of 28611.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-378.7%

5Y CAGR-373.8pp

NaaS Technology ADR's net profit margin was -378.7% in fiscal year 2025, showing the share of revenue converted to profit.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

NAAS Income Statement

Metric	FY25	FY21	FY20	FY19	FY18	FY17
Revenue	$17.0M	N/A	$146.9M-33.1%	$219.7M+18.8%	$185.0M+24.2%	$149.0M
Cost of Revenue	N/A	N/A	$92.4M-7.4%	$99.8M+19.0%	$83.9M+20.6%	$69.5M
Gross Profit	N/A	N/A	$54.5M-54.6%	$119.9M+18.6%	$101.1M+27.3%	$79.5M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$4.7M-88.2%	$39.9M-8.9%	$43.8M+24.3%	$35.2M-32.6%	$52.2M
Operating Income	N/A	-$4.7M+77.8%	-$21.2M-166.3%	$32.0M+6.0%	$30.2M+31554.2%	-$96K
Interest Expense	-$4.7M	N/A	$3.6M-26.1%	$4.9M-0.4%	$4.9M+20.3%	$4.1M
Income Tax	N/A	N/A	-$2.4M-123.7%	$10.2M-2.7%	$10.4M+28.3%	$8.1M
Net Income	-$64.3M	N/A	-$20.3M-195.4%	$21.3M+2.3%	$20.8M+382.0%	-$7.4M
EPS (Diluted)	$0.01	$-0.34-88.9%	$-0.18-200.0%	$0.180.0%	$0.18	N/A

Metric	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Revenue	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A

NAAS Balance Sheet

Metric	FY25	FY21	FY20	FY19	FY18	FY17
Total Assets	$44.7M+829.0%	$4.8M-98.7%	$371.9M-7.6%	$402.5M+21.3%	$331.7M+10.3%	$300.7M
Current Assets	$30.6M+536.2%	$4.8M-95.8%	$114.1M-26.8%	$155.8M-23.6%	$204.0M+16.2%	$175.6M
Cash & Equivalents	$11.6M+361.4%	$2.5M-97.0%	$85.0M-40.8%	$143.5M-23.4%	$187.3M+15.4%	$162.3M
Inventory	$2K	N/A	$1.2M-4.0%	$1.2M-24.2%	$1.6M+35.5%	$1.2M
Accounts Receivable	N/A	N/A	$350K+39.4%	$251K-29.3%	$355K-6.6%	$380K
Goodwill	N/A	N/A	$101.0M+5.7%	$95.6M+33.6%	$71.6M-2.1%	$73.1M
Total Liabilities	$172.3M+816.8%	$18.8M-93.6%	$295.0M-5.7%	$312.8M+16.9%	$267.6M+4.8%	$255.2M
Current Liabilities	$160.6M+11770.7%	$1.4M-99.2%	$179.1M+1.1%	$177.2M-4.7%	$186.0M+17.4%	$158.4M
Long-Term Debt	$160K	N/A	$29.3M-44.8%	$53.2M-27.2%	$73.1M-23.7%	$95.8M
Total Equity	-$127.7M-812.6%	-$14.0M-118.4%	$75.9M-13.2%	$87.5M+31.9%	$66.3M+39.1%	$47.7M
Retained Earnings	-$1.2B-1864.4%	-$63.3M-58.8%	-$39.9M-118.3%	-$18.3M+49.5%	-$36.2M+25.4%	-$48.5M

Metric	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
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
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
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
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

Metric	FY25	FY21	FY20	FY19	FY18	FY17
Operating Cash Flow	$74K	N/A	-$31.5M-450.8%	-$5.7M-110.4%	$55.3M+4.2%	$53.1M
Capital Expenditures	N/A	N/A	$3.7M-49.9%	$7.3M-23.0%	$9.5M+22.6%	$7.7M
Free Cash Flow	N/A	N/A	-$35.2M-170.1%	-$13.0M-128.5%	$45.8M+1.0%	$45.3M
Investing Cash Flow	$1.7M+129.5%	-$5.9M+65.6%	-$17.1M-4.0%	-$16.5M-12.3%	-$14.7M-79.9%	-$8.2M
Financing Cash Flow	-$8.2M-33.1%	-$6.1M+33.9%	-$9.3M+54.0%	-$20.2M-142.5%	-$8.3M-142.0%	$19.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$87.9M
Share Buybacks	N/A	N/A	N/A	$6.9M+122.0%	$3.1M	N/A

Metric	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

NAAS Financial Ratios

Metric	FY25	FY21	FY20	FY19	FY18	FY17
Gross Margin	N/A	N/A	37.1%-17.5pp	54.6%-0.1pp	54.7%+1.3pp	53.3%
Operating Margin	N/A	N/A	-14.4%-29.0pp	14.6%-1.8pp	16.3%+16.4pp	-0.1%
Net Margin	-378.7%	N/A	-13.8%-23.5pp	9.7%-1.6pp	11.2%+16.2pp	-5.0%
Return on Equity	N/A	N/A	-26.8%-51.1pp	24.3%-7.0pp	31.4%+46.8pp	-15.5%
Return on Assets	-144.0%	N/A	-5.5%-10.8pp	5.3%-1.0pp	6.3%+8.7pp	-2.5%
Current Ratio	0.19-3.4	3.56+2.9	0.64-0.2	0.88-0.2	1.10-0.0	1.11
Debt-to-Equity	N/A	-1.34-1.7	0.39-0.2	0.61-0.5	1.10-0.9	2.01
FCF Margin	N/A	N/A	-24.0%-18.0pp	-5.9%-30.7pp	24.8%-5.7pp	30.4%

Metric	Q3'22	Q3'21	Q3'20	Q3'19	Q3'18
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A
Current Ratio	3.56+2.9	0.64-0.2	0.88-0.2	1.10-0.0	1.11
Debt-to-Equity	-1.34-1.7	0.39-0.2	0.61-0.5	1.10-0.9	2.01
FCF Margin	N/A	N/A	N/A	N/A	N/A

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.

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Frequently Asked Questions

What is NaaS Technology ADR's annual revenue?

NaaS Technology ADR (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 ADR profitable?

No, NaaS Technology ADR (NAAS) reported a net income of -$64.3M in fiscal year 2025, with a net profit margin of -378.7%.

How much debt does NaaS Technology ADR have?

As of fiscal year 2025, NaaS Technology ADR (NAAS) had $11.6M in cash and equivalents against $160K in long-term debt.

What is NaaS Technology ADR's net profit margin?

NaaS Technology ADR (NAAS) had a net profit margin of -378.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is NaaS Technology ADR's operating cash flow?

NaaS Technology ADR (NAAS) generated $74K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are NaaS Technology ADR's total assets?

NaaS Technology ADR (NAAS) had $44.7M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does NaaS Technology ADR have outstanding?

NaaS Technology ADR (NAAS) had 32.45B shares outstanding as of fiscal year 2025.

What is NaaS Technology ADR's current ratio?

NaaS Technology ADR (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 ADR's return on assets (ROA)?

NaaS Technology ADR (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 ADR's Piotroski F-Score?

NaaS Technology ADR (NAAS) has a Piotroski F-Score of 2 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are NaaS Technology ADR's earnings high quality?

NaaS Technology ADR (NAAS) has an earnings quality ratio of -0.00x, considered mixed quality. 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 NaaS Technology ADR?

NaaS Technology ADR (NAAS) scores 16 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.