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NWTN Financials

NWTN
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows NWTN (NWTN) 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 NWTN FY2024

Gross economics improved, but a tiny revenue base still cannot absorb overhead, leaving the business in balance-sheet contraction.

FY2024's positive operating cash flow of $33.6M reversed FY2023's -$138.0M. But with cash ending at just $148K and net loss still -$172.5M, the inflow is more consistent with working-capital release or non-cash charges than a self-funding operating model.

The clearest operating change is at the gross profit layer: FY2024 gross margin reached 22.2% after FY2023's -31.3%, so each sale was no longer loss-making before overhead. That improvement did not fix the model, because selling and administrative expense was $91.0M against only $12.0M of revenue.

The balance sheet shows how much prior losses have already absorbed. Total assets fell to $41.5M in FY2024 from $347.3M in FY2022, which is a far faster shrinkage than the income statement alone suggests. That left negative net worth and a 0.3x current ratio, meaning short-term obligations now sit on a much thinner and less flexible resource base.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 21 / 100
Financial Profile 21/100

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 NWTN'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.

Growth
0

NWTN's revenue declined 92.1% year-over-year, from $12.0M to $950K. This contraction results in a growth score of 0/100.

Leverage
69

NWTN carries a low D/E ratio of -1.08, meaning only $-1.08 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 69/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
0

NWTN's current ratio of 0.06 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
1/9

NWTN passes 1 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Key Financial Metrics

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Earnings & Revenue

Revenue
$950K
YoY-92.1%

NWTN generated $950K in revenue in fiscal year 2025. This represents a decrease of 92.1% from the prior year.

EBITDA
N/A
Net Income
N/A
EPS (Diluted)
$-10.59
YoY+10.3%

NWTN earned $-10.59 per diluted share (EPS) in fiscal year 2025. This represents an increase of 10.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$4.1M
YoY+2695.9%
5Y CAGR+269.6%

NWTN held $4.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
62.5%
YoY+40.3pp

NWTN's gross margin was 62.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 40.3 percentage points from the prior year.

Operating Margin
N/A
Net Margin
N/A
Return on Equity
N/A

Capital Allocation

R&D Spending
$64K
YoY-98.6%
5Y CAGR-49.0%

NWTN invested $64K in research and development in fiscal year 2025. This represents a decrease of 98.6% from the prior year.

Share Buybacks
N/A
Capital Expenditures
N/A

NWTN Income Statement

Metric Q4'25 Q2'25 Q4'24 Q4'23 Q4'22 Q4'21
Revenue 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
Gross Profit 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
SG&A Expenses 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
Interest Expense 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
Net Income 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

NWTN Balance Sheet

Metric Q4'25 Q2'25 Q4'24 Q4'23 Q4'22 Q4'21
Total Assets $8.4M-75.8% $34.9M-15.7% $41.5M-75.1% $166.3M-52.1% $347.3M+2398.4% $13.9M
Current Assets $8.0M-74.1% $30.9M-5.0% $32.6M-60.7% $82.9M-65.5% $240.3M+1632.8% $13.9M
Cash & Equivalents $4.1M+2715.0% $147K-0.7% $148K-99.4% $23.2M-89.1% $211.9M+994520.0% $21K
Inventory $267K-72.8% $982K-59.5% $2.4M-68.8% $7.8M+268.8% $2.1M N/A
Accounts Receivable N/A N/A N/A $2.3M N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A
Total Liabilities $120.2M+15.4% $104.2M-3.6% $108.0M+2.6% $105.3M+39.7% $75.4M+8.6% $69.4M
Current Liabilities $124.6M+21.1% $102.9M-0.4% $103.2M+5.1% $98.2M+47.6% $66.5M-4.1% $69.4M
Long-Term Debt N/A N/A N/A N/A N/A N/A
Total Equity -$111.8M-71.8% -$65.1M-4.0% -$62.6M-196.7% $64.8M-76.4% $274.5M+622.4% -$52.5M
Retained Earnings -$904.4M-22.3% -$739.3M-0.3% -$737.0M-30.6% -$564.5M-88.7% -$299.2M-19.0% -$251.5M

NWTN Cash Flow Statement

Metric Q4'25 Q2'25 Q4'24 Q4'23 Q4'22 Q4'21
Operating Cash Flow 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
Free Cash Flow 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
Financing Cash Flow 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
Share Buybacks N/A N/A N/A N/A N/A N/A

NWTN Financial Ratios

Metric Q4'25 Q2'25 Q4'24 Q4'23 Q4'22 Q4'21
Gross Margin 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
Net Margin 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
Return on Assets N/A N/A N/A N/A N/A N/A
Current Ratio 0.06-0.2 0.30-0.0 0.32-0.5 0.84-2.8 3.61+3.4 0.20
Debt-to-Equity -1.08+0.5 -1.60+0.1 -1.73-3.4 1.63+1.4 0.27+1.6 -1.32
FCF Margin N/A N/A N/A N/A N/A N/A

Note: Shareholder equity is negative (-$111.8M), 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 (0.06), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

NWTN (NWTN) reported $950K in total revenue for fiscal year 2025. This represents a -92.1% 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.

NWTN (NWTN) revenue declined by 92.1% year-over-year, from $12.0M to $950K in fiscal year 2025.

NWTN (NWTN) reported diluted earnings per share of $-10.59 for fiscal year 2025. This represents a 10.3% change compared to the previous fiscal year. 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.

NWTN (NWTN) had a gross margin of 62.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

NWTN (NWTN) generated -$5.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

NWTN (NWTN) had $8.4M in total assets as of fiscal year 2025, including both current and long-term assets.

NWTN (NWTN) invested $64K in research and development during fiscal year 2025.

NWTN (NWTN) had a current ratio of 0.06 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

NWTN (NWTN) had a debt-to-equity ratio of -1.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Based on fiscal year 2025 data, NWTN (NWTN) had $4.1M in cash against an annual operating cash burn of $5.1M. This gives an estimated cash runway of approximately 10 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.

NWTN (NWTN) has negative shareholder equity of -$111.8M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. 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.

NWTN (NWTN) has a Piotroski F-Score of 1 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.

NWTN (NWTN) scores 21 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.

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