Autozi Internet Technology (Global) Ltd. Reports First Half Fiscal Year 2026 Financial Results
Rhea-AI Summary
Autozi (Nasdaq: AZI) reported first half fiscal 2026 results for the six months ended March 31, 2026.
Revenue was US$29.5 million, down 63.1% year-over-year. Gross profit fell to US$0.24 million with margin at 0.81%. Operating expenses rose 64.6% to US$15.6 million, and net loss attributable to ordinary shareholders widened 163.5% to US$13.8 million.
AI-generated analysis. Not financial advice.
Positive
- Cost of revenues decreased by 62.4% to US$29.3 million
- Other income, net, reached US$1.5 million despite a year-over-year decline
Negative
- Revenue declined by 63.1% year-over-year to US$29.5 million
- Gross profit dropped 82.5% to US$0.24 million; margin fell to 0.81%
- Operating expenses increased 64.6% to US$15.6 million
- Other income, net, decreased 46.4% to US$1.5 million
- Net loss attributable to shareholders widened 163.5% to US$13.8 million
Key Figures
Market Reality Check
Peers on Argus
AZI fell 1.63% while key peers were mixed: KXIN -6.1%, GORV -34.2%, VRM -5.39%, UCAR +1.75%, JZXN +4.59%, suggesting stock‑specific focus rather than a broad sector move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Sep 05 | First-half earnings | Neutral | -9.0% | H1 FY2025 revenue surge but wider operating loss and going concern issues. |
| Jan 27 | Annual results | Neutral | -2.6% | FY2024 revenue and margin improvement but higher net loss on litigation costs. |
Across the last two earnings releases, AZI’s stock moved lower after results, indicating a pattern of negative reactions to earnings updates.
Recent earnings history shows AZI delivering revenue growth but persistent losses and balance sheet strain. FY2024 revenue grew 9.9% to $124.7M, yet net loss widened to $11.1M. H1 FY2025 revenue jumped 65.9% to $79.9M, but net loss still reached $5.3M and going‑concern risks were disclosed. Both earnings events triggered share price declines, and today’s H1 FY2026 results extend the narrative of volatile revenues, thin margins and elevated losses during strategic transition.
Historical Comparison
Past earnings releases led to an average move of -5.82%, as investors reacted to thin margins and persistent net losses. The H1 FY2026 update continues this earnings-driven scrutiny.
Earnings updates from FY2024 through H1 FY2026 show revenue volatility, structurally low gross margins and recurring net losses as AZI pivots its business mix.
Regulatory & Risk Context
An effective F-3/A shelf dated 2026-03-12 registers 34,972,600 Class A shares for resale from a 2025 PIPE at $0.915 per share. The company will not receive proceeds from these resales and reports 0 recorded usages to date.
Market Pulse Summary
This announcement highlights a sharp reset in AZI’s fundamentals, with H1 FY2026 revenue at $29.5M, gross margin narrowing to 0.81%, and net loss widening to $13.8M. Compared with prior earnings, the trend shows persistent losses and pressure on profitability as the company pivots toward new energy vehicles. Investors may watch future earnings for stabilization in margins, operating expenses, and the impact of financing activities on overall results.
AI-generated analysis. Not financial advice.
BEIJING, May 29, 2026 (GLOBE NEWSWIRE) -- Autozi Internet Technology (Global) Ltd. ("Autozi" or the "Company") (Nasdaq: AZI), one of the leading and fast-growing lifecycle automotive service providers in China, today announced its unreviewed financial results for the six months ended March 31, 2026.
First Half of Fiscal Year 2026 Financial Results
Revenues
Revenues were US
Cost of Revenues
Cost of revenues was US
Gross Profit
Gross profit was US
Operating Expenses
Operating expenses were US
Other expenses or income, net
Other income, net was US
Net loss
As a result of the foregoing, the Company recorded a net loss attributable to the Company’s ordinary shareholders of US
About Autozi Internet Technology (Global) Ltd.
Autozi Internet Technology (Global) Ltd. is a leading, fast-growing provider of lifecycle automotive services in China. Founded in 2010, Autozi offers a comprehensive range of high-quality, affordable, and professional automotive products and services through both online and offline channels across the country. Leveraging its advanced online supply chain cloud platform and SaaS solutions, Autozi has built a dynamic ecosystem that connects key participants across the automotive industry. This interconnected network enables more efficient collaboration and streamlined processes throughout the entire supply chain, positioning Autozi as a key driver of innovation and growth in the automotive services sector.
Forward-Looking Statements
All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. These forward-looking statements speak only as of the date of this announcement, and the Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, as actual results may be impacted by a variety of factors, including without limitation, changes in macroeconomic conditions, industry dynamics, competitive landscape, regulatory requirements, the Company's ability to successfully implement its growth strategies and effectively manage costs and operations, and unforeseen business challenges. The Company encourages investors to review other factors that may affect its future results in the Company's registration statement, periodic reports, including its Annual Report on Form 20-F and Current Report on Form 6-K, and in its other filings with the SEC.
Contact Information
Autozi Internet Technology (Global) Ltd.
Mr. HuiZhang
Email: boardoffice@autozi.com
AUTOZI INTERNET TECHNOLOGY (GLOBAL) LTD.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In U.S. dollars in thousands, except for share and per share data, or otherwise noted)
| As of September 30, | As of March 31, | |||||||
| 2025 | 2026 | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 268 | $ | 187 | ||||
| Restricted cash | - | - | ||||||
| Accounts receivable, net | 129 | 1,888 | ||||||
| Advance to suppliers, net | 7,645 | 6,981 | ||||||
| Inventories | 254 | 492 | ||||||
| Prepayments, receivables and other assets, net | 5,026 | 39,429 | ||||||
| Deferred offering cost | - | - | ||||||
| Amounts due from related parties, net | 54 | 10 | ||||||
| Total current assets | 13,376 | 48,987 | ||||||
| Non-current assets | ||||||||
| Long-term investment | 35 | - | ||||||
| Property, equipment and software, net | 287 | 272 | ||||||
| Operating lease right-of-use assets | 89 | 92 | ||||||
| Total non-current assets | 411 | 364 | ||||||
| TOTAL ASSETS | $ | 13,787 | $ | 49,351 | ||||
| LIABILITIES AND SHAREHOLDERS’ DEFICIT | ||||||||
| Current liabilities | ||||||||
| Short-term borrowings | $ | 9,021 | $ | 9,251 | ||||
| Convertible bonds | 9,488 | 9,612 | ||||||
| Accounts payable | 2,856 | 4,677 | ||||||
| Deferred revenues | 2,252 | 4,796 | ||||||
| Accrued expenses and other current liabilities | 14,206 | 14,151 | ||||||
| Payable to redeemable non-controlling interests | - | - | ||||||
| Lease liabilities, current | 60 | 311 | ||||||
| Amounts due to related parties | 674 | 760 | ||||||
| Total current liabilities | 38,557 | 43,558 | ||||||
| Non-current liabilities | ||||||||
| Lease liabilities, non-current | 36 | 37 | ||||||
| Total non-current liabilities | 36 | 37 | ||||||
| TOTAL LIABILITIES | 38,593 | 43,595 | ||||||
| Commitments and contingencies (Note 23) | ||||||||
| Shareholders’ deficit | ||||||||
| Class A ordinary shares (US | - | - | ||||||
| Class B ordinary shares (US | - | - | ||||||
| Additional paid-in capital | 94,813 | 133,554 | ||||||
| Accumulated deficit | (145,514 | ) | (143,339 | ) | ||||
| Accumulated other comprehensive income | 11,627 | 1,113 | ||||||
| Total AUTOZI shareholders’ deficit | (39,074 | ) | (8,672 | ) | ||||
| Non-controlling interests | 14,268 | ) | 14,428 | |||||
| Total shareholders’ deficit | (24,806 | ) | 5,756 | |||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT | $ | 13,787 | $ | 49,351 | ||||
AUTOZI INTERNET TECHNOLOGY (GLOBAL) LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(In U.S. dollars in thousands, except for share and per share data, or otherwise noted)
| For the six months ended March 31, | ||||||||
| 2025 | 2026 | |||||||
| (Unaudited) | (Unaudited) | |||||||
| Revenues | $ | 79,871 | $ | 29,543 | ||||
| Cost of revenues | (78,511 | ) | (29,305 | ) | ||||
| Gross profit | 1,360 | 238 | ||||||
| Operating expenses | ||||||||
| Selling and marketing expenses | (1,575 | ) | (1,044 | ) | ||||
| General and administrative expenses | (7,288 | ) | (13,949 | ) | ||||
| Research and development expenses | (622 | ) | (617 | ) | ||||
| Total operating expenses | (9,485 | ) | (15,610 | ) | ||||
| Operating loss | (8,125 | ) | (15,372 | ) | ||||
| Other (expense) income | ||||||||
| Litigation related (expenses) income | 4,381 | - | ||||||
| Interest expenses, net | (1,926 | ) | (1,417 | ) | ||||
| Other income, net | 392 | 3,114 | ||||||
| Fair value change gain/loss | - | (948 | ) | |||||
| Investment income/loss | - | 778 | ||||||
| Total other (expenses) income, net | 2,847 | 1,527 | ||||||
| Loss before income tax expenses | (5,278 | ) | (13,845 | ) | ||||
| Income tax expenses | - | (18 | ) | |||||
| Net loss | $ | (5,278 | ) | $ | (13,863 | ) | ||
| Less: net (loss) income attributable to non-controlling interests | (39 | ) | (56 | ) | ||||
| Less: net loss attributable to mezzanine equity | - | - | ||||||
| Less: accretion of mezzanine equity to redemption value | - | - | ||||||
| Net loss attributable to the Company’s ordinary shareholders | $ | (5,239 | ) | $ | (13,807 | ) | ||
| Net loss | (5,278 | ) | (13,863 | ) | ||||
| Foreign currency translation difference, net of tax of nil | 1,470 | (1 | ) | |||||
| Total comprehensive loss | $ | (3,808 | ) | $ | (13,864 | ) | ||
| Less: total comprehensive (loss) income attributable to non-controlling interests | 283 | (56 | ) | |||||
| Comprehensive loss attributable to the Company | $ | (4,091 | ) | $ | (13,808 | ) | ||
| Net loss per share of non-redeemable ordinary shares - Basic and diluted | (24.70 | ) | (3.08 | ) | ||||
| Weighted average shares of outstanding non-redeemable ordinary shares | 212,120 | 4,489,164 | ||||||
| Net earnings per share of redeemable ordinary shares - Basic and diluted | - | - | ||||||
| Weighted average shares of outstanding redeemable ordinary shares | - | - | ||||||
