Netclass Technology Inc. (NTCL) 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 Sep 2, 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 Feb 2, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NTCL SEC filings page.
Netclass Technology Inc. (NTCL) reported $9.8M in revenue for fiscal year 2025, down 2.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Stable gross profit is being overwhelmed by a sharp operating-cost step-up, leaving financing—not operations—to support the balance sheet.
Gross margin stayed near23.0% from FY2023 through FY2025, yet operating margin fell to-111.5% in FY2025. That gap isolates the break below gross profit: SG&A reached$9.2M , while operating cash flow was-$5.7M , so the earnings deterioration had a substantial cash component.
Operating cash flow moved from
The current ratio fell from 3.0x in FY2023 to 1.3x in FY2025, reducing short-term cushion. Financing cash flow was
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Netclass Technology Inc.'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.
Netclass Technology Inc.'s reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 11/100.
Netclass Technology Inc.'s revenue declined 2.9% year-over-year, from $10.1M to $9.8M. This contraction results in a growth score of 14/100.
Netclass Technology Inc. has a moderate D/E ratio of 1.35. This balance of debt and equity financing earns a leverage score of 41/100.
Netclass Technology Inc.'s current ratio of 1.29 indicates adequate short-term liquidity, earning a score of 33/100. The company can meet its near-term obligations, though with limited headroom.
Netclass Technology Inc.'s operations used $5.7M of cash, and capex of $6K added to the outflow, for a free cash flow shortfall of $5.7M. This results in a cash flow score of 5/100.
Netclass Technology Inc. posts a -187.2% return on equity (ROE), meaning it loses $187 for every $100 of shareholders' equity. This results in a returns score of 11/100. This is down from -49.7% the prior year.
Netclass Technology Inc. scores -2.81, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.5M) relative to total liabilities ($7.8M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Netclass Technology Inc. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Netclass Technology Inc. reported a net loss of $10.8M while operations used $5.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Netclass Technology Inc. reported an operating loss of $10.9M against $149K 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 Q4 2025.
Cash & Balance Sheet
Netclass Technology Inc. held $1.8M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
NTCL 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).
NTCL 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 | Q4'2520-F | Q2'2510-Q | Q4'2420-F | Q4'2310-K |
|---|---|---|---|---|
| Total Assets | $13.8M+91.0% | $11.3M | $7.2M+10.5% | $6.5M |
| Current Assets | $8.9M+25.0% | $9.3M | $7.1M+12.2% | $6.3M |
| Cash & Equivalents | $1.8M+329.5% | $1.8M | $411K-21.7% | $525K |
| Short-Term Investments | $0 | $0 | $0 | $0 |
| Inventory | $306K+332.6% | $200K | $71K | N/A |
| Accounts Receivable | $5.6M+5.3% | $4.7M | $5.3M+131.6% | $2.3M |
| Long-Term Investments | $0 | $0 | $0 | $0 |
| Total Liabilities | $7.8M+88.0% | $4.6M | $4.2M+98.7% | $2.1M |
| Current Liabilities | $6.9M+64.5% | $4.2M | $4.2M+99.9% | $2.1M |
| Non-Current Liabilities | $978K | $372K | $0-100.0% | $13K |
| Total Equity | $5.8M+94.6% | $6.5M | $3.0M-33.1% | $4.4M |
| Retained Earnings | -$12.5M-635.2% | -$6.6M | -$1.7M-934.0% | -$165K |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
NTCL 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.
NTCL 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 |
|---|---|---|---|---|---|---|
| Netclass Technology Inc. NTCL | FY2025 | $9.8M | -$10.8M | N/A | $2.5M | 19/100 |
| Nukkleus Inc NUKK | FY2025 | N/A | $78.5M | N/A | $52.0M | — |
| SAGTEC GLOBAL LTD SAGT | FY2025 | $19.1M | $1.8M | 9.4% | $12.2M | 46/100 |
| Cyngn Inc CYN | FY2025 | $219K | -$23.5M | N/A | $14.3M | — |
| Firefly Neuroscience Inc. AIFF | FY2025 | $1.1M | -$19.9M | N/A | $16.8M | 35/100 |
| MMTEC INC MTC | FY2025 | $808K | -$56.1M | N/A | $366.5M | — |
Where Netclass Technology Inc. Ranks
Frequently Asked Questions
What is Netclass Technology Inc.'s annual revenue?
Netclass Technology Inc. (NTCL) reported $9.8M in total revenue for fiscal year 2025. This represents a -2.9% 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 Netclass Technology Inc.'s revenue growing?
Netclass Technology Inc. (NTCL) revenue declined by 2.9% year-over-year, from $10.1M to $9.8M in fiscal year 2025.
Is Netclass Technology Inc. profitable?
No, Netclass Technology Inc. (NTCL) reported a net income of -$10.8M in fiscal year 2025.
What is Netclass Technology Inc.'s EBITDA?
Netclass Technology Inc. (NTCL) had EBITDA of -$10.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Netclass Technology Inc.'s gross margin?
Netclass Technology Inc. (NTCL) had a gross margin of 22.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Netclass Technology Inc.'s return on equity (ROE)?
Netclass Technology Inc. (NTCL) has a return on equity of -187.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Netclass Technology Inc.'s free cash flow?
Netclass Technology Inc. (NTCL) recorded an outflow of $5.7M in free cash flow during fiscal year 2025. 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 Netclass Technology Inc.'s operating cash flow?
Netclass Technology Inc. (NTCL) recorded an outflow of $5.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Netclass Technology Inc.'s total assets?
Netclass Technology Inc. (NTCL) had $13.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Netclass Technology Inc.'s capital expenditures?
Netclass Technology Inc. (NTCL) invested $6K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Netclass Technology Inc. spend on research and development?
Netclass Technology Inc. (NTCL) invested $1.7M in research and development during fiscal year 2025.
What is Netclass Technology Inc.'s current ratio?
Netclass Technology Inc. (NTCL) had a current ratio of 1.29 as of fiscal year 2025, which is considered adequate.
What is Netclass Technology Inc.'s debt-to-equity ratio?
Netclass Technology Inc. (NTCL) had a debt-to-equity ratio of 1.35 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Netclass Technology Inc.'s return on assets (ROA)?
Netclass Technology Inc. (NTCL) had a return on assets of -78.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Netclass Technology Inc.'s P/E ratio?
Netclass Technology Inc. (NTCL) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $2.5M as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Netclass Technology Inc.'s price-to-sales ratio?
Netclass Technology Inc. (NTCL) trades at 0.3x sales, its market capitalization divided by revenue of $9.8M revenue, FY2025. The market capitalization is $2.5M as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Netclass Technology Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Netclass Technology Inc. (NTCL) held $1.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $5.7M over that year. Dividing the one by the other, the reported balance equals about 4 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Netclass Technology Inc.'s Altman Z-Score?
Netclass Technology Inc. (NTCL) has an Altman Z-Score of -2.81, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Netclass Technology Inc.'s Piotroski F-Score?
Netclass Technology Inc. (NTCL) has a Piotroski F-Score of 2 out of 8 computable signals; 1 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 Netclass Technology Inc.'s earnings high quality?
Netclass Technology Inc. (NTCL) reported a net loss of $10.8M while operations used $5.7M 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 Netclass Technology Inc. cover its interest payments?
Netclass Technology Inc. (NTCL) reported an operating loss of $10.9M against $149K 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.
How financially healthy is Netclass Technology Inc.?
Netclass Technology Inc. (NTCL) scores 19 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.