XCHG Limited (XCH) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the XCH SEC filings page.
XCHG Limited (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).
The business moved from modest profitability to a loss-heavy, shrinking operation as overhead overwhelmed gross profit and weakened the balance sheet.
FY2025 revenue fell to$25.1M from$42.2M while gross margin compressed from50.3% to46.2% , so the deterioration involved both a smaller revenue base and less gross profit per dollar. Operating cash flow was-$7.5M versus a net loss of$32.5M ; that gap indicates earnings included substantial non-cash or timing effects, although the year still produced a cash outflow.
The cost structure became the central operating issue: FY2025 SG&A was
By FY2025, equity was
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 Limited'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.
XCHG Limited held $11.5M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $7.5M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and XCHG Limited scores 43/100 among other emerging companies.
Not available for XCHG Limited, and counted as zero in the overall score.
XCHG Limited spent $7.1M on research and development in fiscal year 2025, which was 12.3% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and XCHG Limited scores 40/100 among other emerging companies.
XCHG Limited reported revenue of $25.1M in fiscal year 2025, against $42.2M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and XCHG Limited scores 20/100 among other emerging companies.
XCHG Limited's operations used $7.5M of cash in fiscal year 2025, against $7.2M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and XCHG Limited scores 32/100 among other emerging companies.
XCHG Limited's cash, cash equivalents and investments came to $11.5M at the end of fiscal year 2025, against $24.8M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and XCHG Limited scores 42/100 among other emerging companies.
XCHG Limited scores -4.11, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($9.4M) 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 Limited 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 Limited 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 Limited 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
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
XCHG Limited held $11.4M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
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.
XCH 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
XCH 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 | Q4'2520-F | Q2'2510-Q | Q4'2420-F | Q4'2310-K |
|---|---|---|---|---|
| Total Assets | $42.7M-25.3% | $47.4M | $57.1M+39.5% | $41.0M |
| Current Assets | $37.1M-31.8% | $42.9M | $54.4M+36.9% | $39.7M |
| Cash & Equivalents | $11.4M-57.5% | $16.3M | $26.8M+71.0% | $15.7M |
| Short-Term Investments | $0 | $0 | $0 | $0 |
| Inventory | $9.4M+22.8% | $9.7M | $7.7M+15.4% | $6.7M |
| Accounts Receivable | $7.0M-37.7% | $8.5M | $11.2M-10.0% | $12.5M |
| Long-Term Investments | $107K+2.3% | $105K | $104K-1.5% | $106K |
| Total Liabilities | $24.8M-10.2% | $22.3M | $27.6M-61.1% | $71.0M |
| Current Liabilities | $23.5M-10.1% | $20.5M | $26.2M-14.8% | $30.7M |
| Non-Current Liabilities | $1.3M-12.3% | $1.8M | $1.4M+471.8% | $252K |
| Total Equity | $17.9M-39.5% | $25.0M | $29.5M+198.2% | -$30.0M |
| Retained Earnings | -$84.9M-62.1% | -$59.7M | -$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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, 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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| XCHG Limited XCH | FY2025 | $25.1M | -$32.5M | N/A | $9.4M | 30/100 |
| Ocean Power Technologies, Inc. OPTT | FY2026 | $3.7M | -$48.9M | N/A | $7.6M | 25/100 |
| Hurco Cos Inc HURC | FY2025 | $178.6M | -$15.1M | -8.5% | $136.0M | 40/100 |
| Broadwind, Inc. BWEN | FY2025 | $158.1M | $5.2M | 3.3% | $91.6M | 39/100 |
| Taylor Devices Inc TAYD | FY2026 | $41.6M | $8.6M | 20.6% | $190.3M | 72/100 |
Where XCHG Limited Ranks
Frequently Asked Questions
What is XCHG Limited's annual revenue?
XCHG Limited (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 Limited's revenue growing?
XCHG Limited (XCH) revenue declined by 40.5% year-over-year, from $42.2M to $25.1M in fiscal year 2025.
Is XCHG Limited profitable?
No, XCHG Limited (XCH) reported a net income of -$32.5M in fiscal year 2025.
What is XCHG Limited's EBITDA?
XCHG Limited (XCH) had EBITDA of -$32.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is XCHG Limited's gross margin?
XCHG Limited (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 Limited's return on equity (ROE)?
XCHG Limited (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 Limited's operating cash flow?
XCHG Limited (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 Limited's total assets?
XCHG Limited (XCH) had $42.7M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does XCHG Limited spend on research and development?
XCHG Limited (XCH) invested $7.1M in research and development during fiscal year 2025.
What is XCHG Limited's current ratio?
XCHG Limited (XCH) had a current ratio of 1.58 as of fiscal year 2025, which is generally considered healthy.
What is XCHG Limited's debt-to-equity ratio?
XCHG Limited (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 Limited's return on assets (ROA)?
XCHG Limited (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 Limited's P/E ratio?
XCHG Limited (XCH) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $9.4M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is XCHG Limited's price-to-sales ratio?
XCHG Limited (XCH) trades at 0.4x sales, its market capitalization divided by revenue of $25.1M revenue, FY2025. The market capitalization is $9.4M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does XCHG Limited's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, XCHG Limited (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 Limited's Altman Z-Score?
XCHG Limited (XCH) has an Altman Z-Score of -4.11, 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 Limited's Piotroski F-Score?
XCHG Limited (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 Limited's earnings high quality?
XCHG Limited (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 Limited cover its interest payments?
XCHG Limited (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 Limited?
XCHG Limited (XCH) scores 30 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.