What is NWTN's earnings per share (EPS)?

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 Financials

NWTN

FY2025 annual

Revenue $950K -92.1% YoY

Net Income Not reported for FY2025

EPS (Diluted) -$10.59 +10.3% YoY

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Apr 30, 2026 Currency USD FYE December

NWTN (NWTN) reported $950K in revenue for fiscal year 2025, down 92.1% from the prior fiscal year. 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).

Rhea AI NWTN FY2025 2026-08-30

Shrinking sales have not fixed the model: margin expansion coexists with operating losses and financing dependence.

Gross margin expansion moved from -31.3% in FY2023 to 62.5% in FY2025 even as revenue contracted, pointing more toward cost or mix effects than demonstrated scale. In FY2024, operating cash flow of $33.6M sat beside a net loss of -$172.5M, an earnings-to-cash disconnect that makes the cash result difficult to treat as recurring operating profitability.

The improvement in gross margin was not enough to absorb the expense base: FY2024 operating margin was -795.1% despite a positive gross margin of 22.2%. That gap indicates overhead and other operating costs, rather than production cost alone, governed the economics.

By FY2025, liabilities of $120.2M outweighed assets of $8.4M, a balance-sheet structure with little asset backing. Operating cash flow of -$5.1M versus financing cash flow of $8.8M shows that reported cash movement was supplied by financing while operations consumed cash.

Financial Health Signals

Financial health score not available

NWTN does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The metrics below are current.

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.

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.

EBITDA

Not reported for fiscal year 2025.

Net Income

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$4.1M

YoY+2695.9%

5Y CAGR+269.6%

NWTN held $4.1M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Shares Outstanding

Not reported for fiscal year 2025.

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

Not reported for fiscal year 2025.

Net Margin

Not reported for fiscal year 2025.

Return on Equity

Not reported for fiscal year 2025.

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

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

NWTN Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

NWTN quarterly income statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$950K-92.1%	$12.0M-67.9%	$37.3M	N/A	N/A	N/A
Cost of Revenue	$356K-96.2%	$9.3M-81.0%	$49.0M	N/A	N/A	N/A
Gross Profit	$594K-77.7%	$2.7M+122.8%	-$11.7M	N/A	N/A	N/A
R&D Expenses	$64K-98.6%	$4.5M-81.7%	$24.4M+53.7%	$15.9M+2093.1%	$725K-61.0%	$1.9M
SG&A Expenses	N/A	$91.0M-46.2%	$169.0M+616.3%	$23.6M+134.9%	$10.0M+11.1%	$9.0M
Operating Income	N/A	-$95.4M+55.0%	-$212.0M-416.5%	-$41.0M-281.2%	-$10.8M-516.4%	-$1.7M
Interest Expense	$9.8M+264.3%	$2.7M-17.1%	$3.2M	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	$9	N/A	N/A
Net Income	N/A	-$172.5M+35.0%	-$265.3M-456.1%	-$47.7M-285.1%	-$12.4M-4.0%	-$11.9M
EPS (Diluted)	-$10.59+10.3%	-$11.81+36.2%	-$18.50	-$0.19-280.0%	-$0.050.0%	-$0.05

Metric	Q4'25	Q2'25	Q4'24	Q4'23	Q4'22	Q4'21

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Income Tax, Net Income, EPS (Diluted).

NWTN Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

NWTN quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$8.4M-79.6%	$41.5M-75.1%	$166.3M-52.1%	$347.3M+2398.4%	$13.9M	N/A
Current Assets	$8.0M-75.4%	$32.6M-60.7%	$82.9M-65.5%	$240.3M+1632.8%	$13.9M	N/A
Cash & Equivalents	$4.1M+2695.9%	$148K-99.4%	$23.2M-89.1%	$211.9M+994520.0%	$21K+255.0%	$6K
Inventory	$267K-89.0%	$2.4M-68.8%	$7.8M+268.8%	$2.1M	N/A	N/A
Accounts Receivable	N/A	N/A	$2.3M	N/A	N/A	N/A
Total Liabilities	$120.2M+11.3%	$108.0M+2.6%	$105.3M+39.7%	$75.4M+8.6%	$69.4M	N/A
Current Liabilities	$124.6M+20.7%	$103.2M+5.1%	$98.2M+47.6%	$66.5M-4.1%	$69.4M	N/A
Total Equity	-$111.8M-78.6%	-$62.6M-196.7%	$64.8M-76.4%	$274.5M+622.4%	-$52.5M+74.7%	-$208.0M
Retained Earnings	-$904.4M-22.7%	-$737.0M-30.6%	-$564.5M-88.7%	-$299.2M-19.0%	-$251.5M	N/A

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
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
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

Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.

NWTN Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

NWTN quarterly cash flow statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$5.1M-115.1%	$33.6M+124.3%	-$138.0M+22.5%	-$178.0M-2814.9%	-$6.1M-821.2%	-$663K
Capital Expenditures	N/A	$160K-97.1%	$5.5M+356.4%	$1.2M	N/A	N/A
Free Cash Flow	N/A	$33.4M+123.3%	-$143.6M+19.9%	-$179.2M	N/A	N/A
Investing Cash Flow	$76K+111.6%	-$656K+96.9%	-$21.2M-210.6%	-$6.8M-30968.2%	-$22K-108.2%	$267K
Financing Cash Flow	$8.8M+116.0%	-$55.0M-103.9%	-$27.0M-106.9%	$393.2M+6260.6%	$6.2M+2745.5%	$217K

Metric	Q4'25	Q2'25	Q4'24	Q4'23	Q4'22	Q4'21

Not reported in any period shown, so not listed: Operating Cash Flow, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

NWTN Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

NWTN quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	62.5%+40.3pp	22.2%+53.5pp	-31.3%	N/A	N/A	N/A
Operating Margin	N/A	-795.1%	-567.8%	N/A	N/A	N/A
Net Margin	N/A	-1438.4%	-710.6%	N/A	N/A	N/A
Return on Equity	N/A	N/A	-409.7%-392.3pp	-17.4%	N/A	N/A
Return on Assets	N/A	-416.1%-256.5pp	-159.6%-145.8pp	-13.7%+75.4pp	-89.1%	N/A
Current Ratio	0.06-0.3x	0.32-0.5x	0.84-2.8x	3.61+3.4x	0.20	N/A
Debt-to-Equity	N/A	N/A	1.63+1.4x	0.27	N/A	N/A
FCF Margin	N/A	278.6%	-384.5%	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q4'23	Q4'22	Q4'21
Current Ratio	0.06-0.2x	0.300.0x	0.32-0.5x	0.84-2.8x	3.61+3.4x	0.20
Debt-to-Equity	N/A	N/A	N/A	1.63+1.4x	0.27	N/A

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, FCF Margin.

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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Where NWTN Ranks

Frequently Asked Questions

What is NWTN's annual revenue?

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.

How fast is NWTN's revenue growing?

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

What is NWTN's gross margin?

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.

What is NWTN's operating cash flow?

NWTN (NWTN) recorded an outflow of $5.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are NWTN's total assets?

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

How much does NWTN spend on research and development?

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

What is NWTN's current ratio?

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.

Why is NWTN's debt-to-equity ratio negative or not reported?

NWTN (NWTN) has negative shareholder equity of -$111.8M 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.