What is XCHG LTD's earnings per share (EPS)?

XCHG LTD (XCH) reported diluted earnings per share of $-0.01 for fiscal year 2025. 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.

XCHG LTD Financials

XCH

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows XCHG LTD (XCH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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 XCH FY2024 2026-04-27

Improving gross economics were overwhelmed by R&D-led spending, leaving the business more reliant on financing than on internally generated cash.

Across the last two years, gross margin expanded from 45.6% to 50.3%. Yet operating losses widened, showing the better unit economics were reinvested below gross profit line, with R&D reaching $12.2M.

The balance sheet reset from negative equity to positive equity of $29.5M materially changed solvency optics. A current ratio of 2.1x and cash of $26.8M give near-term flexibility, but that cushion was built by financing inflows rather than operating cash generation.

Most recently, operating cash outflow of -$7.2M was meaningfully smaller than the net loss of -$11.9M, so reported losses were not matched by an equally severe cash drain. Because that same pattern also appeared a year earlier, earnings quality looks better than the income statement alone suggests, even though the business still needs external funding while operations remain cash-negative.

Financial Health Signals

Financial Health Score 37/100

Scored as: Emerging companies peer group

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 XCHG LTD'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.

Cash Runway

Dilution

R&D Intensity

Revenue Progress

Burn Trend

Balance Sheet

Altman Z-Score Distress

-2.70

XCHG LTD scores -2.70, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($67.8M) relative to total liabilities ($24.8M). 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.

Piotroski F-Score Partial

1/7

XCHG LTD passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

0.23x

For every $1 of reported earnings, XCHG LTD generates $0.23 in operating cash flow (-$7.5M OCF vs -$32.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-151.8x

XCHG LTD earns $-151.8 in operating income for every $1 of interest expense (-$32.6M vs $215K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$25.1M

YoY-40.5%

XCHG LTD generated $25.1M in revenue in fiscal year 2025. This represents a decrease of 40.5% from the prior year.

EBITDA

-$32.3M

YoY-174.1%

XCHG LTD's EBITDA was -$32.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 174.1% from the prior year.

Net Income

-$32.5M

YoY-172.2%

XCHG LTD reported -$32.5M in net income in fiscal year 2025. This represents a decrease of 172.2% from the prior year.

EPS (Diluted)

$-0.01

XCHG LTD earned $-0.01 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$11.4M

YoY-57.5%

XCHG LTD held $11.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

2.16B

XCHG LTD had 2.16B shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

46.2%

YoY-4.1pp

XCHG LTD's gross margin was 46.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.1 percentage points from the prior year.

Operating Margin

-129.9%

YoY-101.4pp

XCHG LTD's operating margin was -129.9% in fiscal year 2025, reflecting core business profitability. This is down 101.4 percentage points from the prior year.

Net Margin

-129.5%

YoY-101.2pp

XCHG LTD's net profit margin was -129.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 101.2 percentage points from the prior year.

Return on Equity

-181.9%

YoY-141.5pp

XCHG LTD's ROE was -181.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 141.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$7.1M

YoY-41.8%

XCHG LTD invested $7.1M in research and development in fiscal year 2025. This represents a decrease of 41.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

XCH Income Statement

Metric	FY25	FY24	FY23	FY22
Revenue	$25.1M-40.5%	$42.2M+9.6%	$38.5M+30.9%	$29.4M
Cost of Revenue	$13.5M-35.6%	$21.0M+0.2%	$20.9M+11.9%	$18.7M
Gross Profit	$11.6M-45.4%	$21.2M+20.8%	$17.6M+64.2%	$10.7M
R&D Expenses	$7.1M-41.8%	$12.2M+199.4%	$4.1M+44.2%	$2.8M
SG&A Expenses	$26.6M+146.1%	$10.8M-23.1%	$14.0M+410.8%	$2.7M
Operating Income	-$32.6M-171.1%	-$12.0M-84.6%	-$6.5M-493.8%	$1.7M
Interest Expense	$215K+1.0%	$213K+9.4%	$195K+190.5%	$67K
Income Tax	N/A	N/A	N/A	-$12K
Net Income	-$32.5M-172.2%	-$11.9M-47.7%	-$8.1M-602.1%	$1.6M
EPS (Diluted)	$-0.01	N/A	$-0.01	N/A

Metric	Q4'25	Q2'25	Q4'24	Q4'23
Revenue	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A

XCH Balance Sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$42.7M-25.3%	$57.1M+39.5%	$41.0M	N/A
Current Assets	$37.1M-31.8%	$54.4M+36.9%	$39.7M	N/A
Cash & Equivalents	$11.4M-57.5%	$26.8M+71.0%	$15.7M	N/A
Inventory	$9.4M+22.8%	$7.7M+15.4%	$6.7M	N/A
Accounts Receivable	$7.0M-37.7%	$11.2M-10.0%	$12.5M	N/A
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$24.8M-10.2%	$27.6M-61.1%	$71.0M	N/A
Current Liabilities	$23.5M-10.1%	$26.2M-14.8%	$30.7M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$17.9M-39.5%	$29.5M+198.2%	-$30.0M-7.1%	-$28.0M
Retained Earnings	-$84.9M-62.1%	-$52.4M-29.5%	-$40.4M	N/A

Metric	Q4'25	Q2'25	Q4'24	Q4'23
Total Assets	$42.7M-9.9%	$47.4M-17.1%	$57.1M+39.5%	$41.0M
Current Assets	$37.1M-13.5%	$42.9M-21.1%	$54.4M+36.9%	$39.7M
Cash & Equivalents	$11.4M-30.3%	$16.3M-39.0%	$26.8M+71.0%	$15.7M
Inventory	$9.4M-2.7%	$9.7M+26.2%	$7.7M+15.4%	$6.7M
Accounts Receivable	$7.0M-17.9%	$8.5M-24.1%	$11.2M-10.0%	$12.5M
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$24.8M+11.1%	$22.3M-19.2%	$27.6M-61.1%	$71.0M
Current Liabilities	$23.5M+14.7%	$20.5M-21.7%	$26.2M-14.8%	$30.7M
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$17.9M-28.6%	$25.0M-15.2%	$29.5M+198.2%	-$30.0M
Retained Earnings	-$84.9M-42.1%	-$59.7M-14.0%	-$52.4M-29.5%	-$40.4M

XCH Cash Flow Statement

Metric	FY25	FY24	FY23	FY22
Operating Cash Flow	-$7.5M-4.5%	-$7.2M-29.2%	-$5.6M-756.9%	$849K
Capital Expenditures	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A
Investing Cash Flow	-$1.5M-180.9%	-$534K-123.6%	$2.3M+85.4%	$1.2M
Financing Cash Flow	-$4.3M-122.6%	$19.1M+78.2%	$10.7M+371.6%	$2.3M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q4'23
Operating Cash Flow	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

XCH Financial Ratios

Metric	FY25	FY24	FY23	FY22
Gross Margin	46.2%-4.1pp	50.3%+4.7pp	45.6%+9.2pp	36.4%
Operating Margin	-129.9%-101.4pp	-28.5%-11.6pp	-16.9%-22.5pp	5.6%
Net Margin	-129.5%-101.2pp	-28.3%-7.3pp	-21.0%-26.5pp	5.5%
Return on Equity	-181.9%-141.5pp	-40.5%	N/A	N/A
Return on Assets	-76.2%-55.3pp	-20.9%-1.2pp	-19.7%	N/A
Current Ratio	1.58-0.5	2.08+0.8	1.29	N/A
Debt-to-Equity	1.39+0.5	0.94+3.3	-2.36	N/A
FCF Margin	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q4'23
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A
Current Ratio	1.58-0.5	2.09+0.0	2.08+0.8	1.29
Debt-to-Equity	1.39+0.5	0.89-0.0	0.94+3.3	-2.36
FCF Margin	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is XCHG LTD's annual revenue?

XCHG LTD (XCH) reported $25.1M in total revenue for fiscal year 2025. This represents a -40.5% 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 XCHG LTD's revenue growing?

XCHG LTD (XCH) revenue declined by 40.5% year-over-year, from $42.2M to $25.1M in fiscal year 2025.

Is XCHG LTD profitable?

No, XCHG LTD (XCH) reported a net income of -$32.5M in fiscal year 2025, with a net profit margin of -129.5%.

What is XCHG LTD's EBITDA?

XCHG LTD (XCH) had EBITDA of -$32.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is XCHG LTD's gross margin?

XCHG LTD (XCH) had a gross margin of 46.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is XCHG LTD's operating margin?

XCHG LTD (XCH) had an operating margin of -129.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is XCHG LTD's net profit margin?

XCHG LTD (XCH) had a net profit margin of -129.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is XCHG LTD's return on equity (ROE)?

XCHG LTD (XCH) has a return on equity of -181.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is XCHG LTD's operating cash flow?

XCHG LTD (XCH) generated -$7.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are XCHG LTD's total assets?

XCHG LTD (XCH) had $42.7M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does XCHG LTD spend on research and development?

XCHG LTD (XCH) invested $7.1M in research and development during fiscal year 2025.

How many shares does XCHG LTD have outstanding?

XCHG LTD (XCH) had 2.16B shares outstanding as of fiscal year 2025.

What is XCHG LTD's current ratio?

XCHG LTD (XCH) had a current ratio of 1.58 as of fiscal year 2025, which is generally considered healthy.

What is XCHG LTD's debt-to-equity ratio?

XCHG LTD (XCH) had a debt-to-equity ratio of 1.39 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is XCHG LTD's return on assets (ROA)?

XCHG LTD (XCH) had a return on assets of -76.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is XCHG LTD's cash runway?

Based on fiscal year 2025 data, XCHG LTD (XCH) had $11.4M in cash against an annual operating cash burn of $7.5M. This gives an estimated cash runway of approximately 18 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 XCHG LTD's Altman Z-Score?

XCHG LTD (XCH) has an Altman Z-Score of -2.70, 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 XCHG LTD's Piotroski F-Score?

XCHG LTD (XCH) 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 XCHG LTD's earnings high quality?

XCHG LTD (XCH) has an earnings quality ratio of 0.23x, considered low quality (accrual-driven). 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.

Can XCHG LTD cover its interest payments?

XCHG LTD (XCH) has an interest coverage ratio of -151.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is XCHG LTD?

XCHG LTD (XCH) scores 37 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.