X3 Holdings Co., Ltd. (XTKG) Financials
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 XTKG SEC filings page.
X3 Holdings Co., Ltd. (XTKG) reported $6.3M in revenue for fiscal year 2025, down 45.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
X3’s dominant mechanic is shrinking sales paired with expanding gross margin, yet fixed operating costs still overwhelm the gross profit.
Revenue nearly halved between FY2024 and FY2025 while gross margin widened to64.3% ; that pattern was not produced by sales scale alone and points to a substantial cost or mix shift. Net loss of$26.2M coexisted with operating cash flow of-$3.2M , so the income-statement loss is not translating one-for-one into cash outflow, indicating substantial non-cash or timing effects.
FY2025 gross profit of
Debt-to-equity fell to 0.1x by FY2025, while the current ratio recovered to 0.9x; this is a less debt-heavy balance sheet, but near-term obligations still slightly exceed current assets. The reported liquidity comparison equals 8.6 months of annual operating outflow, describing the period-end cash position without implying a forecast.
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 X3 Holdings Co., 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.
X3 Holdings Co., Ltd. held $2.3M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $3.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and X3 Holdings Co., Ltd. scores 27/100 among other emerging companies.
Not available for X3 Holdings Co., Ltd., and counted as zero in the overall score.
X3 Holdings Co., Ltd. spent $2.6M on research and development in fiscal year 2025, which was 6.6% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and X3 Holdings Co., Ltd. scores 28/100 among other emerging companies.
X3 Holdings Co., Ltd. reported revenue of $6.3M in fiscal year 2025, against $11.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and X3 Holdings Co., Ltd. scores 9/100 among other emerging companies.
X3 Holdings Co., Ltd.'s operations used $3.2M of cash in fiscal year 2025, against $992K used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and X3 Holdings Co., Ltd. scores 80/100 among other emerging companies.
X3 Holdings Co., Ltd.'s cash, cash equivalents and investments came to $2.3M at the end of fiscal year 2025, against $21.6M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and X3 Holdings Co., Ltd. scores 18/100 among other emerging companies.
X3 Holdings Co., Ltd. scores -8.02, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.2M) relative to total liabilities ($21.6M). 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.
X3 Holdings Co., Ltd. passes 4 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, 1 of 2 efficiency signals pass.
X3 Holdings Co., Ltd. reported a net loss of $26.2M while operations used $3.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
X3 Holdings Co., Ltd. held $2.2M in cash against $3.1M in long-term debt as of Q4 2025.
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.
XTKG 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).
XTKG 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 | Q2'256-K | Q4'2420-F | Q2'2410-Q | Q4'2310-K | Q2'2310-Q | Q4'2210-K | Q4'2110-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $61.6M-28.7% | $71.7M-58.1% | $86.4M-50.9% | $171.3M-15.2% | $176.0M+34.7% | $202.0M | $130.6M+13.7% | $114.8M+8.1% |
| Current Assets | $18.5M-27.3% | $23.6M-45.3% | $25.5M-17.9% | $43.2M+58.1% | $31.1M-64.5% | $27.3M | $87.4M+126.3% | $38.6M+11.1% |
| Cash & Equivalents | $2.2M-47.2% | $2.6M+80.4% | $4.2M+40.2% | $1.5M-75.9% | $3.0M-68.1% | $6.1M | $9.4M+34.0% | $7.0M-16.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $14.1M-18.2% | $16.7M-11.1% | $17.3M-19.6% | $18.8M+24.7% | $21.5M+45.0% | $15.1M | $14.8M-38.8% | $24.2M+69.2% |
| Long-Term Investments | $123K | $44K-99.6% | $0-100.0% | $11.2M0.0% | $11.3M-63.4% | $11.2M | $30.8M | $0 |
| Goodwill | $2.8M-42.0% | N/A | $4.8M-67.8% | $22.8M-49.1% | $15.0M | $44.7M | N/A | N/A |
| Total Liabilities | $21.6M-40.7% | $25.3M-28.2% | $36.5M+14.2% | $35.2M-50.3% | $31.9M+13.9% | $70.8M | $28.0M-12.2% | $31.9M-4.7% |
| Current Liabilities | $20.0M-41.8% | $24.9M-24.6% | $34.5M+8.3% | $33.0M+29.3% | $31.8M+13.9% | $25.5M | $27.9M-12.5% | $31.9M-4.7% |
| Non-Current Liabilities | $1.6M-21.4% | $366K-82.8% | $2.0M+1746.0% | $2.1M-95.3% | $110K+7.8% | $45.2M | $102K | $0 |
| Long-Term Debt | $3.1M | N/A | N/A | N/A | N/A | N/A | $9.1M+303.2% | $2.3M |
| Total Equity | $35.5M-22.8% | $42.6M-66.0% | $45.9M-65.4% | $125.5M+16.7% | $132.8M+29.2% | $107.5M | $102.8M+23.6% | $83.2M+14.2% |
| Retained Earnings | -$282.0M-10.2% | -$272.2M-43.2% | -$255.8M-51.6% | -$190.0M-63.1% | -$168.7M-185.5% | -$116.5M | -$59.1M-57.2% | -$37.6M-33.1% |
Not reported in any period shown, so not listed: Inventory.
XTKG 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.
XTKG 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.
Note: The current ratio is below 1.0 (0.93), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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 |
|---|---|---|---|---|---|---|
| X3 Holdings Co., Ltd. XTKG | FY2025 | $6.3M | -$26.2M | N/A | $1.2M | 27/100 |
| Digimarc Corporation DMRC | FY2025 | $33.9M | -$32.3M | -95.3% | $112.4M | 36/100 |
| Asure Software, Inc ASUR | FY2025 | $140.5M | -$13.1M | -9.3% | $244.0M | 42/100 |
| eGain Corporation EGAN | FY2026 | $91.1M | $8.9M | 9.7% | $137.7M | 52/100 |
| WM TECHNOLOGY INC A MAPS | FY2025 | $174.7M | $2.0M | 1.1% | $45.4M | — |
| Marti Technologies, Inc. MRT | FY2025 | $39.2M | -$41.4M | N/A | $179.3M | 35/100 |
Where X3 Holdings Co., Ltd. Ranks
Frequently Asked Questions
What is X3 Holdings Co., Ltd.'s annual revenue?
X3 Holdings Co., Ltd. (XTKG) reported $6.3M in total revenue for fiscal year 2025. This represents a -45.8% 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 X3 Holdings Co., Ltd.'s revenue growing?
X3 Holdings Co., Ltd. (XTKG) revenue declined by 45.8% year-over-year, from $11.6M to $6.3M in fiscal year 2025.
Is X3 Holdings Co., Ltd. profitable?
No, X3 Holdings Co., Ltd. (XTKG) reported a net income of -$26.2M in fiscal year 2025.
What is X3 Holdings Co., Ltd.'s EBITDA?
X3 Holdings Co., Ltd. (XTKG) had EBITDA of -$29.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does X3 Holdings Co., Ltd. have?
As of fiscal year 2025, X3 Holdings Co., Ltd. (XTKG) had $2.2M in cash and equivalents against $3.1M in long-term debt.
What is X3 Holdings Co., Ltd.'s gross margin?
X3 Holdings Co., Ltd. (XTKG) had a gross margin of 64.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is X3 Holdings Co., Ltd.'s return on equity (ROE)?
X3 Holdings Co., Ltd. (XTKG) has a return on equity of -73.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is X3 Holdings Co., Ltd.'s free cash flow?
X3 Holdings Co., Ltd. (XTKG) recorded an outflow of $3.5M in free cash flow during fiscal year 2025. This represents a -102.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is X3 Holdings Co., Ltd.'s operating cash flow?
X3 Holdings Co., Ltd. (XTKG) recorded an outflow of $3.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are X3 Holdings Co., Ltd.'s total assets?
X3 Holdings Co., Ltd. (XTKG) had $61.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are X3 Holdings Co., Ltd.'s capital expenditures?
X3 Holdings Co., Ltd. (XTKG) invested $228K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does X3 Holdings Co., Ltd. spend on research and development?
X3 Holdings Co., Ltd. (XTKG) invested $2.6M in research and development during fiscal year 2025.
What is X3 Holdings Co., Ltd.'s current ratio?
X3 Holdings Co., Ltd. (XTKG) had a current ratio of 0.93 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is X3 Holdings Co., Ltd.'s debt-to-equity ratio?
X3 Holdings Co., Ltd. (XTKG) had a debt-to-equity ratio of 0.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is X3 Holdings Co., Ltd.'s return on assets (ROA)?
X3 Holdings Co., Ltd. (XTKG) had a return on assets of -42.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does X3 Holdings Co., Ltd.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, X3 Holdings Co., Ltd. (XTKG) held $2.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $3.2M over that year. Dividing the one by the other, the reported balance equals about 9 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 X3 Holdings Co., Ltd.'s Altman Z-Score?
X3 Holdings Co., Ltd. (XTKG) has an Altman Z-Score of -8.02, 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 X3 Holdings Co., Ltd.'s Piotroski F-Score?
X3 Holdings Co., Ltd. (XTKG) has a Piotroski F-Score of 4 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 X3 Holdings Co., Ltd.'s earnings high quality?
X3 Holdings Co., Ltd. (XTKG) reported a net loss of $26.2M while operations used $3.2M 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.
How financially healthy is X3 Holdings Co., Ltd.?
X3 Holdings Co., Ltd. (XTKG) scores 27 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.