XCHG LTD Financials
XCHG LTD (XCH) reported $25.1M in revenue for fiscal year 2025, down 40.5% from the prior fiscal year. This page shows its 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).
A shrinking revenue base is carrying an expense structure that overwhelms gross profit and keeps operations cash-negative.
The earnings-to-cash gap is unusually wide: FY2025 net loss was-$32.5M versus operating cash flow of-$7.5M . That mismatch suggests reported expenses included substantial noncash or timing effects, so the income statement shows a much larger loss than the period’s immediate cash drain even as operations remain cash-negative.
Gross margin slipped from
Cash declined from
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 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.
Not available for XCHG LTD, and counted as zero in the overall score.
XCHG LTD scores -3.94, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($16.6M) 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.
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.
XCHG LTD reported a net loss of $32.5M while operations used $7.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
XCHG LTD reported an operating loss of $32.6M against $215K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
XCHG LTD generated $25.1M in revenue in fiscal year 2025. This represents a decrease of 40.5% from the prior year.
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.
XCHG LTD reported -$32.5M in net income in fiscal year 2025. This represents a decrease of 172.2% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
XCHG LTD held $11.4M 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
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.
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.
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
XCHG LTD invested $7.1M in research and development in fiscal year 2025. This represents a decrease of 41.8% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
XCH 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 | Q4'23 |
|---|
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).
XCH 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 | 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 |
| 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 |
| 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 |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
XCH 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 | Q4'23 |
|---|
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.
XCH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q4'25 | Q2'25 | Q4'24 | Q4'23 |
|---|---|---|---|---|
| Current Ratio | 1.58-0.5x | 2.090.0x | 2.08+0.8x | 1.29 |
| Debt-to-Equity | 1.39+0.5x | 0.890.0x | 0.94 | N/A |
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 XCHG LTD Ranks
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.
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 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) recorded an outflow of $7.5M in operating cash flow during fiscal year 2025, representing cash used by 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.
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.
How does XCHG LTD's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, XCHG LTD (XCH) held $11.5M in cash, cash equivalents and investments, and reported an operating cash outflow of $7.5M over that year. Dividing the one by the other, the reported balance equals about 18 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 XCHG LTD's Altman Z-Score?
XCHG LTD (XCH) has an Altman Z-Score of -3.94, 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) reported a net loss of $32.5M while operations used $7.5M 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.
Can XCHG LTD cover its interest payments?
XCHG LTD (XCH) reported an operating loss of $32.6M against $215K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 29 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.