Saiheat Limited Financials
Saiheat Limited (SAIH) reported $4.5M in revenue for fiscal year 2025, down 18.4% 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).
Falling revenue is compounded by gross losses, leaving operating costs structurally unsupported and cash increasingly scarce.
Revenue fell from$6.8M in FY2023 to$4.5M in FY2025. Over the same span, gross margin shifted from6.7% to-51.9% ; the core economics deteriorated before overhead was paid, so shrinking sales are not merely producing less profit—they are failing to cover direct costs.
FY2025 operating cash flow was
Debt-to-equity rose from 0.1x in FY2023 to 0.7x in FY2025; leverage is increasing as losses continue. By FY2025, equity was
Financial Health Signals
Scored against emerging 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 Saiheat Limited'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.
Not available for Saiheat Limited, and counted as zero in the overall score.
Saiheat Limited scores -0.71, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($44.1M) relative to total liabilities ($5.3M). 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.
Saiheat Limited passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Saiheat Limited reported a net loss of $6.5M while operations used $7.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Saiheat Limited generated $4.5M in revenue in fiscal year 2025. This represents a decrease of 18.4% from the prior year.
Saiheat Limited's EBITDA was -$5.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 13.8% from the prior year.
Saiheat Limited reported -$6.5M in net income in fiscal year 2025. This represents a decrease of 9.7% from the prior year.
Saiheat Limited earned -$3.51 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1.6% from the prior year.
Cash & Balance Sheet
Saiheat Limited held $202K in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Saiheat Limited's gross margin was -51.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 33.7 percentage points from the prior year.
Saiheat Limited's ROE was -87.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 46.3 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Saiheat Limited invested $217K in research and development in fiscal year 2025. This represents a decrease of 66.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
SAIH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Revenue | $4.5M-18.4% | $5.5M-18.2% | $6.8M-36.3% | $10.6M-37.6% | $17.0M+770.6% | $2.0M |
| Cost of Revenue | $6.9M+4.8% | $6.6M+3.7% | $6.3M-33.5% | $9.5M-39.8% | $15.8M+1395.2% | $1.1M |
| Gross Profit | -$2.3M-132.3% | -$1.0M-321.0% | $457K-59.9% | $1.1M-9.8% | $1.3M+40.1% | $902K |
| R&D Expenses | $217K-66.2% | $642K-24.7% | $853K+79.2% | $476K+13.6% | $419K+20.4% | $348K |
| SG&A Expenses | $2.7M-56.8% | $6.3M-8.5% | $6.8M-4.8% | $7.2M+201.2% | $2.4M+931.6% | $231K |
| Operating Income | -$6.8M+13.7% | -$7.9M-7.3% | -$7.4M+1.3% | -$7.5M+54.6% | -$16.5M-5934.0% | $282K |
| Income Tax | N/A | N/A | N/A | N/A | $24K-54.7% | $53K |
| Net Income | -$6.5M-9.7% | -$5.9M+3.8% | -$6.1M+30.8% | -$8.8M+47.0% | -$16.7M-4244.9% | $403K |
| EPS (Diluted) | -$3.51-1.6% | -$3.46+8.8% | -$3.79+43.6% | -$6.72 | -$1.43 | N/A |
Not reported in any period shown, so not listed: Interest Expense.
SAIH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $12.7M-31.4% | $18.5M+2.5% | $18.1M-14.3% | $21.1M+83.0% | $11.5M | N/A |
| Current Assets | $11.2M-19.5% | $14.0M+14.1% | $12.3M-34.5% | $18.7M+171.7% | $6.9M | N/A |
| Cash & Equivalents | $202K-80.5% | $1.0M-67.3% | $3.2M-71.7% | $11.2M+150.5% | $4.5M+244.4% | $1.3M |
| Inventory | $63K-91.8% | $772K+1654.5% | $44K-71.1% | $152K-23.2% | $198K | N/A |
| Accounts Receivable | $293K+23.6% | $237K-73.7% | $900K-41.6% | $1.5M+31.3% | $1.2M | N/A |
| Total Liabilities | $5.3M+27.5% | $4.2M+232.1% | $1.3M+59.7% | $786K-94.3% | $13.9M | N/A |
| Current Liabilities | $4.9M+32.6% | $3.7M+436.7% | $686K+23.6% | $555K-60.2% | $1.4M | N/A |
| Total Equity | $7.4M-48.5% | $14.4M-14.6% | $16.8M-17.2% | $20.3M+959.7% | -$2.4M-576.4% | $496K |
| Retained Earnings | -$44.3M-18.9% | -$37.2M-18.8% | -$31.3M-24.1% | -$25.3M-53.9% | -$16.4M | N/A |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
SAIH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.6M-37.1% | -$5.6M-77.7% | -$3.1M+36.7% | -$4.9M-401.8% | -$983K+5.0% | -$1.0M |
| Capital Expenditures | N/A | $713K-85.9% | $5.0M+169.7% | $1.9M-52.8% | $4.0M+1121.5% | $325K |
| Free Cash Flow | N/A | -$6.3M+23.3% | -$8.2M-20.1% | -$6.8M-37.4% | -$5.0M-264.2% | -$1.4M |
| Investing Cash Flow | $5.2M+283.4% | $1.3M+127.5% | -$4.9M+23.8% | -$6.4M-61.8% | -$4.0M-423.1% | -$759K |
| Financing Cash Flow | $1.6M-26.0% | $2.1M+23400.0% | $9K-100.0% | $18.5M+126.3% | $8.2M+183.2% | $2.9M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SAIH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Gross Margin | -51.9%-33.7pp | -18.2%-25.0pp | 6.7%-4.0pp | 10.7%+3.3pp | 7.4%-38.7pp | 46.1% |
| Operating Margin | -150.9% | -142.7% | -108.8% | -70.2%+26.4pp | -96.6%-111.0pp | 14.4% |
| Net Margin | -142.7% | -106.2% | -90.3%-7.2pp | -83.2%+14.9pp | -98.0%-118.6pp | 20.6% |
| Return on Equity | -87.2%-46.3pp | -41.0%-4.6pp | -36.4%+7.2pp | -43.5% | N/A | 81.3% |
| Return on Assets | -50.8%-19.0pp | -31.8%+2.1pp | -33.9%+8.1pp | -41.9%+102.9pp | -144.8% | N/A |
| Current Ratio | 2.30-1.5x | 3.80-14.1x | 17.86-15.8x | 33.68+28.7x | 4.93 | N/A |
| Debt-to-Equity | 0.72+0.4x | 0.29+0.2x | 0.070.0x | 0.04 | N/A | N/A |
| FCF Margin | N/A | -113.1% | -120.6% | -64.0%-34.9pp | -29.1%+40.4pp | -69.5% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Saiheat Limited Ranks
Frequently Asked Questions
What is Saiheat Limited's annual revenue?
Saiheat Limited (SAIH) reported $4.5M in total revenue for fiscal year 2025. This represents a -18.4% 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 Saiheat Limited's revenue growing?
Saiheat Limited (SAIH) revenue declined by 18.4% year-over-year, from $5.5M to $4.5M in fiscal year 2025.
Is Saiheat Limited profitable?
No, Saiheat Limited (SAIH) reported a net income of -$6.5M in fiscal year 2025.
What is Saiheat Limited's EBITDA?
Saiheat Limited (SAIH) had EBITDA of -$5.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Saiheat Limited's gross margin?
Saiheat Limited (SAIH) had a gross margin of -51.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Saiheat Limited's return on equity (ROE)?
Saiheat Limited (SAIH) has a return on equity of -87.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Saiheat Limited's operating cash flow?
Saiheat Limited (SAIH) recorded an outflow of $7.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Saiheat Limited's total assets?
Saiheat Limited (SAIH) had $12.7M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Saiheat Limited spend on research and development?
Saiheat Limited (SAIH) invested $217K in research and development during fiscal year 2025.
What is Saiheat Limited's current ratio?
Saiheat Limited (SAIH) had a current ratio of 2.30 as of fiscal year 2025, which is generally considered healthy.
What is Saiheat Limited's debt-to-equity ratio?
Saiheat Limited (SAIH) had a debt-to-equity ratio of 0.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Saiheat Limited's return on assets (ROA)?
Saiheat Limited (SAIH) had a return on assets of -50.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Saiheat Limited's cash runway?
Based on fiscal year 2025 data, Saiheat Limited (SAIH) had $202K in cash against an annual operating cash burn of $7.6M. This gives an estimated cash runway of approximately 0 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.
What is Saiheat Limited's Altman Z-Score?
Saiheat Limited (SAIH) has an Altman Z-Score of -0.71, 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 Saiheat Limited's Piotroski F-Score?
Saiheat Limited (SAIH) has a Piotroski F-Score of 1 out of 7 computable signals; 2 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 Saiheat Limited's earnings high quality?
Saiheat Limited (SAIH) reported a net loss of $6.5M while operations used $7.6M 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.
How financially healthy is Saiheat Limited?
Saiheat Limited (SAIH) scores 10 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.