What is Saiheat Limited's earnings per share (EPS)?

Saiheat Limited (SAIHW) reported diluted earnings per share of -$3.51 for fiscal year 2025. This represents a -1.6% 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.

Saiheat Limited (SAIHW) Financials

SAIHW

FY2025 annual

Revenue $4.5M -18.4% YoY

Net Income -$6.5M -9.7% YoY

EPS (Diluted) -$3.51 -1.6% YoY

Operating Cash Flow -$7.6M -37.1% YoY

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

Newest figures come from the 10-K for FY2025, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SAIHW SEC filings page.

Saiheat Limited (SAIHW) 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).

Rhea AI SAIHW FY2025 2026-08-30

SAIHW’s dominant mechanic is shrinking revenue and worsening gross economics, with overhead cuts unable to restore operating profitability or cash conversion.

From FY2024 to FY2025, revenue fell from $5.5M to $4.5M, and that contraction coincided with a deeper operating loss. Gross margin moved from -18.2% to -51.9%; even with lower overhead, deteriorating gross economics—not merely spending—kept the business structurally unprofitable.

In FY2025, operating cash flow was -$7.6M versus a net loss of -$6.5M, so reported losses translated into a larger cash requirement and weaker earnings quality. Positive investing cash flow of $5.2M and financing cash flow of $1.6M offset much of that shortfall, making cash generation dependent on non-operating sources rather than operations.

Balance-sheet flexibility tightened: liabilities rose between FY2024 and FY2025 while the current ratio fell from 3.8x to 2.3x, reducing the short-term buffer. Equity nearly halved while debt-to-equity rose to 0.7x, leaving the business more liability-supported and less cushioned against continued losses.

Financial Health Signals

Financial health score not available

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

Piotroski F-Score Partial

1/7

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.

Earnings Quality No Cash Backing

N/A

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

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$202K

YoY-80.5%

QoQ-80.5%

Saiheat Limited held $202K in cash as of Q4 2025; long-term debt is not reported for that period.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Shares Outstanding

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.

SAIHW 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.

SAIHW quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
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
EBITDA	-$5.4M+13.8%	-$6.3M-3.8%	-$6.0M-3.8%	-$5.8M+64.1%	-$16.1M-4522.7%	$365K
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 (Basic)	-$3.51-1.6%	-$3.46+8.8%	-$3.79+43.6%	-$6.72-370.7%	-$1.43	N/A
EPS (Diluted)	-$3.51-1.6%	-$3.46+8.8%	-$3.79+43.6%	-$6.72	-$1.43	N/A
Diluted Shares (Avg)	2M+7.9%	2M+5.4%	2M+22.6%	1M	12M0.0%	12M

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q1'2210-Q	Q4'2110-K	Q3'2110-Q	Q2'2110-Q
Operating Income	N/A	N/A	N/A	N/A	-$636K-13998.4%	N/A	-$553K	-$23K
Net Income	N/A	N/A	N/A	N/A	-$632K-13917.1%	N/A	-$552K	-$23K
EPS (Basic)	N/A	N/A	N/A	N/A	-$0.11	N/A	-$0.09	-$1.14
EPS (Diluted)	N/A	N/A	N/A	N/A	-$0.11	N/A	-$0.09	-$1.14
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	1M+34.7%	N/A	1M	1M

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, EBITDA, Interest Expense, Income Tax.

SAIHW Balance Sheet

SAIHW quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
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
Short-Term Investments	$0	$0	$0	$0	$0	$0
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
Long-Term Investments	$0-100.0%	$3.1M	$0	$0	$0	$0
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
Non-Current Liabilities	$432K-11.1%	$486K-14.6%	$569K+146.3%	$231K-98.2%	$12.5M	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

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q1'2210-Q	Q4'2110-K	Q3'2110-Q	Q2'2110-Q
Total Assets	$12.7M-31.4%	$18.5M+2.5%	$18.1M-14.3%	$21.1M+83.0%	$45.0M+14289.0%	$11.5M	$45.1M	$45.6M
Current Assets	$11.2M-19.5%	$14.0M+14.1%	$12.3M-34.5%	$18.7M+171.7%	$107K+164.5%	$6.9M	$205K	$738K
Cash & Equivalents	$202K-80.5%	$1.0M-67.3%	$3.2M-71.7%	$11.2M+150.5%	$60K+48.8%	$4.5M	$50K	$703K
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$63K-91.8%	$772K+1654.5%	$44K-71.1%	$152K-23.2%	N/A	$198K	N/A	N/A
Accounts Receivable	$293K+23.6%	$237K-73.7%	$900K-41.6%	$1.5M+31.3%	N/A	$1.2M	N/A	N/A
Long-Term Investments	$0-100.0%	$3.1M	$0	$0	$0	$0	$0	$0
Total Liabilities	$5.3M+27.5%	$4.2M+232.1%	$1.3M+59.7%	$786K-94.3%	$48.7M+16559.7%	$13.9M	$46.8M	$46.8M
Current Liabilities	$4.9M+32.6%	$3.7M+436.7%	$686K+23.6%	$555K-60.2%	$2.2M+663.0%	$1.4M	$346K	$327K
Non-Current Liabilities	$432K-11.1%	$486K-14.6%	$569K+146.3%	$231K-98.2%	$46.5M	$12.5M	$46.5M	$46.5M
Total Equity	$7.4M-48.5%	$14.4M-14.6%	$16.8M-17.2%	$20.3M+959.7%	-$3.7M-18100.4%	-$2.4M	-$1.7M	-$1.2M
Retained Earnings	-$44.3M-18.9%	-$37.2M-18.8%	-$31.3M-24.1%	-$25.3M-53.9%	-$3.7M-81683.2%	-$16.4M	-$1.7M	-$1.2M

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

SAIHW Cash Flow Statement

SAIHW quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Operating Cash Flow	-$7.6M-37.1%	-$5.6M-77.7%	-$3.1M+36.7%	-$4.9M-401.8%	-$983K+5.0%	-$1.0M
Depreciation & Amortization	$1.4M-13.6%	$1.7M+22.9%	$1.3M-19.0%	$1.7M+437.9%	$309K+272.3%	$83K
Stock-Based Compensation	$25K-99.3%	$3.5M+30.9%	$2.6M+149.2%	$1.1M-92.7%	$14.5M	N/A
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

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q1'2210-Q	Q4'2110-K	Q3'2110-Q	Q2'2110-Q
Operating Cash Flow	N/A	N/A	N/A	N/A	-$126K-2687.5%	N/A	-$624K	-$42K
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	$158K+250.5%	N/A	-$28K	$45.6M

Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

SAIHW 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.

SAIHW quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
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
Asset Turnover	0.36+0.1x	0.30-0.1x	0.37-0.1x	0.50-1.0x	1.48	N/A
FCF Margin	N/A	-113.1%	-120.6%	-64.0%-34.9pp	-29.1%+40.4pp	-69.5%

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q1'2210-Q	Q4'2110-K	Q3'2110-Q	Q2'2110-Q
Return on Assets	N/A	N/A	N/A	N/A	-1.4%0.0pp	N/A	-1.2%	-0.1%
Current Ratio	2.30-1.5x	3.80-14.1x	17.86-15.8x	33.68+28.7x	0.05-0.1x	4.93	0.59	2.26
Debt-to-Equity	0.72+0.4x	0.29+0.2x	0.070.0x	0.04	N/A	N/A	N/A	N/A

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

Where Saiheat Limited Ranks

Frequently Asked Questions

What is Saiheat Limited's annual revenue?

Saiheat Limited (SAIHW) 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 (SAIHW) 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 (SAIHW) reported a net income of -$6.5M in fiscal year 2025.

What is Saiheat Limited's EBITDA?

Saiheat Limited (SAIHW) 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 (SAIHW) 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 (SAIHW) 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 (SAIHW) 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 (SAIHW) 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 (SAIHW) invested $217K in research and development during fiscal year 2025.

What is Saiheat Limited's current ratio?

Saiheat Limited (SAIHW) 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 (SAIHW) 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 (SAIHW) 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 Piotroski F-Score?

Saiheat Limited (SAIHW) 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 (SAIHW) 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.