Token Cat Ltd Financials
Token Cat Ltd (TC) reported $847K in revenue for fiscal year 2025, down 87.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Token Cat’s financing-led balance sheet contrasts with collapsing operating activity that cannot fund cash use.
The 2025 net income of$323K sits alongside an operating loss of-$4.9M , so the reported profit does not reflect profitable core activity. Operating cash flow was-$25.2M while financing cash flow was$23.4M , tying the year’s balance-sheet support to external funding rather than internally generated cash.
Revenue fell from
A 10.7x current ratio looks ample in FY2025, but the supplied liquidity measure was only 0.1 months of reported annual outflow; the contrast suggests the ratio is being shaped by a very small current-liability base while cash use remains substantial. The abrupt shift from
Financial Health Signals
Token Cat Ltd 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.
Token Cat Ltd scores -5.65, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($52.1M) relative to total liabilities ($5.8M). 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.
Token Cat Ltd passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
Token Cat Ltd reported $323K of net income while operations used $25.2M of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.
Key Financial Metrics
Earnings & Revenue
Token Cat Ltd generated $847K in revenue in fiscal year 2025. This represents a decrease of 87.4% from the prior year.
Token Cat Ltd reported $323K in net income in fiscal year 2025. This represents an increase of 101.3% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Token Cat Ltd held $140K 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
Token Cat Ltd's gross margin was 2.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 65.5 percentage points from the prior year.
Token Cat Ltd's net profit margin was 38.1% in fiscal year 2025, showing the share of revenue converted to profit. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Token Cat Ltd's ROE was 1.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
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
None of these metrics is reported for fiscal year 2025.
TC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q2'22 |
|---|
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).
TC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q2'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $24.7M-13.1% | $28.4M+370.2% | $6.0M-51.7% | $12.5M-25.5% | $16.8M-33.1% | $25.1M-26.3% | $34.1M-16.1% | $40.6M |
| Current Assets | $24.7M-10.5% | $27.6M+429.6% | $5.2M+11.2% | $4.7M-46.3% | $8.7M-48.5% | $16.9M-32.7% | $25.2M+22.7% | $20.5M |
| Cash & Equivalents | $140K-6.7% | $150K-82.9% | $879K+27.6% | $689K-47.4% | $1.3M-56.7% | $3.0M-69.3% | $9.8M+104.9% | $4.8M |
| Accounts Receivable | $933K-58.1% | $2.2M+27.4% | $1.7M-22.1% | $2.2M-44.8% | $4.1M-21.9% | $5.2M-28.1% | $7.2M+20.1% | $6.0M |
| Goodwill | N/A | N/A | N/A | $6.3M-2.3% | $6.4M+2.1% | $6.3M-4.9% | $6.6M-61.7% | $17.2M |
| Total Liabilities | $5.8M-75.6% | $23.8M-5.9% | $25.3M+90.5% | $13.3M-5.4% | $14.1M-12.2% | $16.0M-22.4% | $20.7M+7.4% | $19.2M |
| Current Liabilities | $2.3M-87.5% | $18.5M+31.3% | $14.1M+33.2% | $10.6M-13.3% | $12.2M-6.5% | $13.1M-17.0% | $15.7M-7.7% | $17.1M |
| Long-Term Debt | N/A | $1.4M+1.9% | $1.4M-22.8% | $1.8M+319.6% | $423K | N/A | $224K | N/A |
| Total Equity | $18.9M+310.9% | $4.6M+123.9% | -$19.3M-2351.1% | -$787K-128.7% | $2.7M-69.9% | $9.1M-32.3% | $13.5M-37.2% | $21.4M |
| Retained Earnings | -$202.9M-2.2% | -$198.5M-1.9% | -$194.7M-11.1% | -$175.3M-0.9% | -$173.7M-6.7% | -$162.8M+2.3% | -$166.8M-7.4% | -$155.2M |
Not reported in any period shown, so not listed: Inventory.
TC 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 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q2'22 |
|---|
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.
TC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q2'22 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.66+9.2x | 1.49+1.1x | 0.37-0.1x | 0.44-0.3x | 0.71-0.6x | 1.30-0.3x | 1.60+0.4x | 1.20 |
| Debt-to-Equity | 0.310.0x | 0.30 | N/A | N/A | 0.15-1.6x | 1.76+1.7x | 0.02-0.9x | 0.90 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, FCF Margin.
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Where Token Cat Ltd Ranks
Frequently Asked Questions
What is Token Cat Ltd's annual revenue?
Token Cat Ltd (TC) reported $847K in total revenue for fiscal year 2025. This represents a -87.4% 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 Token Cat Ltd's revenue growing?
Token Cat Ltd (TC) revenue declined by 87.4% year-over-year, from $6.7M to $847K in fiscal year 2025.
Is Token Cat Ltd profitable?
Yes, Token Cat Ltd (TC) reported a net income of $323K in fiscal year 2025, with a net profit margin of 38.1%.
What is Token Cat Ltd's gross margin?
Token Cat Ltd (TC) had a gross margin of 2.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Token Cat Ltd's net profit margin?
Token Cat Ltd (TC) had a net profit margin of 38.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Token Cat Ltd's return on equity (ROE)?
Token Cat Ltd (TC) has a return on equity of 1.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Token Cat Ltd's operating cash flow?
Token Cat Ltd (TC) recorded an outflow of $25.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Token Cat Ltd's total assets?
Token Cat Ltd (TC) had $24.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Token Cat Ltd's current ratio?
Token Cat Ltd (TC) had a current ratio of 10.66 as of fiscal year 2025, which is generally considered healthy.
What is Token Cat Ltd's debt-to-equity ratio?
Token Cat Ltd (TC) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Token Cat Ltd's return on assets (ROA)?
Token Cat Ltd (TC) had a return on assets of 1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Token Cat Ltd's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Token Cat Ltd (TC) held $140K in cash, cash equivalents and investments, and reported an operating cash outflow of $25.2M 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 Token Cat Ltd's Altman Z-Score?
Token Cat Ltd (TC) has an Altman Z-Score of -5.65, 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 Token Cat Ltd's Piotroski F-Score?
Token Cat Ltd (TC) has a Piotroski F-Score of 3 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 Token Cat Ltd's earnings high quality?
Token Cat Ltd (TC) reported $323K of net income while operations used $25.2M of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. 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.