SAIHEAT Limited Warrant (SAIHW) Financials
Newest figures come from the 20-F 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 Warrant (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).
Shrinking revenue has met worsening unit economics, so lower overhead has not stopped deeper losses and heavier balance-sheet pressure.
SG&A fell to$2.7M in FY2025 even as gross margin deteriorated to-51.9% , so overhead reduction did not repair the economics of each sale. The shift from-18.2% gross margin in FY2024 to-51.9% in FY2025 points to cost of revenue outrunning the shrinking sales base.
Cash conversion weakened: FY2025 operating cash flow was
Total assets fell from
Financial Health Signals
SAIHEAT Limited Warrant 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.
SAIHEAT Limited Warrant 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 operating efficiency signals passes.
SAIHEAT Limited Warrant 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 Warrant generated $4.5M in revenue in fiscal year 2025. This represents a decrease of 18.4% from the prior year.
SAIHEAT Limited Warrant's EBITDA was -$5.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the prior year is not meaningful, because that figure was zero or negative.
SAIHEAT Limited Warrant reported a net loss of $6.5M in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
SAIHEAT Limited Warrant earned -$3.51 per diluted share (EPS) in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
SAIHEAT Limited Warrant held $202K in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
SAIHEAT Limited Warrant'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 Warrant'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 Warrant 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.
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.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| 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 | -$2.3Mn/m | -$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 | -$6.8Mn/m | -$7.9Mn/m | -$7.4Mn/m | -$7.5Mn/m | -$16.5M-5934.0% | $282K |
| EBITDA | -$5.4Mn/m | -$6.3Mn/m | -$6.0Mn/m | -$5.8Mn/m | -$16.1M-4522.7% | $365K |
| Income Tax | N/A | N/A | N/A | N/A | $24K-54.7% | $53K |
| Net Income | -$6.5Mn/m | -$5.9Mn/m | -$6.1Mn/m | -$8.8Mn/m | -$16.7M-4244.9% | $403K |
| EPS (Basic) | -$3.51n/m | -$3.46n/m | -$3.79n/m | -$6.72 | -$1.43 | N/A |
| EPS (Diluted) | -$3.51n/m | -$3.46n/m | -$3.79n/m | -$6.72 | -$1.43 | N/A |
| Diluted Shares (Avg) | 2M+7.9% | 2M+5.4% | 2M+22.6% | 1M | 12M0.0% | 12M |
Not reported in any period shown, so not listed: Interest Expense.
SAIHW 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| 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 | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $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% | $3.1Mn/m | $0n/m | $0n/m | $0n/m | $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% | $20.3Mn/m | -$2.4M-576.4% | $496K |
| Retained Earnings | -$44.3Mn/m | -$37.2Mn/m | -$31.3Mn/m | -$25.3Mn/m | -$16.4M | N/A |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
SAIHW 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.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.6Mn/m | -$5.6Mn/m | -$3.1Mn/m | -$4.9Mn/m | -$983Kn/m | -$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 | -$6.3Mn/m | -$8.2Mn/m | -$6.8Mn/m | -$5.0Mn/m | -$1.4M |
| Investing Cash Flow | $5.2M+283.4% | $1.3Mn/m | -$4.9Mn/m | -$6.4Mn/m | -$4.0Mn/m | -$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.
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.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| 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 |
| Liabilities-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% |
Not reported in any period shown, so not listed: Debt-to-Equity.
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.
Where SAIHEAT Limited Warrant Ranks
Frequently Asked Questions
What is SAIHEAT Limited Warrant's annual revenue?
SAIHEAT Limited Warrant (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 Warrant's revenue growing?
SAIHEAT Limited Warrant (SAIHW) revenue declined by 18.4% year-over-year, from $5.5M to $4.5M in fiscal year 2025.
Is SAIHEAT Limited Warrant profitable?
No, SAIHEAT Limited Warrant (SAIHW) reported a net loss of $6.5M in fiscal year 2025.
What is SAIHEAT Limited Warrant's EBITDA?
SAIHEAT Limited Warrant (SAIHW) had EBITDA of -$5.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is SAIHEAT Limited Warrant's gross margin?
SAIHEAT Limited Warrant (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 Warrant's return on equity (ROE)?
SAIHEAT Limited Warrant (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 Warrant's operating cash flow?
SAIHEAT Limited Warrant (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 Warrant's total assets?
SAIHEAT Limited Warrant (SAIHW) had $12.7M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does SAIHEAT Limited Warrant spend on research and development?
SAIHEAT Limited Warrant (SAIHW) invested $217K in research and development during fiscal year 2025.
What is SAIHEAT Limited Warrant's current ratio?
SAIHEAT Limited Warrant (SAIHW) had a current ratio of 2.30 as of fiscal year 2025, which is generally considered healthy.
What is SAIHEAT Limited Warrant's liabilities-to-equity ratio?
SAIHEAT Limited Warrant (SAIHW) had a liabilities-to-equity ratio of 0.72 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is SAIHEAT Limited Warrant's return on assets (ROA)?
SAIHEAT Limited Warrant (SAIHW) had a return on assets of -50.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does SAIHEAT Limited Warrant's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, SAIHEAT Limited Warrant (SAIHW) held $202K in cash, cash equivalents and investments, and reported an operating cash outflow of $7.6M over that year. Dividing the one by the other, the reported balance equals about 0 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 SAIHEAT Limited Warrant's Piotroski F-Score?
SAIHEAT Limited Warrant (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 Warrant's earnings high quality?
SAIHEAT Limited Warrant (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.