Autozi (NASDAQ: AZI) revenue drops 63% as net loss widens in H1 2026

Rhea-AI Filing Summary

Autozi Internet Technology (Global) Ltd. reported a sharp downturn for the six months ended March 31, 2026. Revenues fell to US$29.5 million, a 63.1% drop from US$79.9 million, as oil-market disruption from the US–Iran conflict hit lubricant sales and the company shifted focus toward new energy vehicles.

Cost of revenues declined similarly, but gross profit slid to US$0.24 million with gross margin narrowing from 1.70% to 0.81%. Operating expenses jumped 64.6% to US$15.6 million, mainly from higher financing expenses, leading to a net loss attributable to ordinary shareholders of US$13.8 million, up 163.5% from US$5.2 million a year earlier. The balance sheet shows total assets of US$49.4 million and total liabilities of US$43.6 million as of March 31, 2026.

Positive

• None.

Negative

• Revenue collapse and margin compression: First-half 2026 revenues fell 63.1% to US$29.5 million, while gross margin shrank from 1.70% to 0.81%, signaling a much weaker earnings base.
• Substantially larger net loss: Net loss attributable to ordinary shareholders widened 163.5% year over year to US$13.8 million, driven by higher financing costs and increased operating investment during business transformation.

Insights

Equity analyst – China internet & auto services

Results show severe revenue contraction and much deeper losses during a strategic shift.

Autozi saw revenue for the six months ended March 31, 2026 fall to US$29.5 million, down 63.1% year over year. Management attributes this to lubricant-market disruption from the US–Iran conflict and a strategic pivot toward new energy vehicles, so the core legacy business is under pressure while the new focus is still ramping.

Gross profit dropped to US$0.24 million and gross margin compressed to 0.81%, leaving little room to absorb higher costs. Operating expenses rose 64.6% to US$15.6 million, mainly from financing expenses, driving net loss attributable to ordinary shareholders up 163.5% to US$13.8 million.

The balance sheet shows total assets of US$49.4 million and total liabilities of US$43.6 million as of March 31, 2026, with short-term borrowings and convertible bonds significant within current liabilities. Subsequent filings may provide more clarity on how quickly the new energy vehicle strategy can offset the downturn in lubricant-related revenue.

Key Figures

Revenue: US$29.5 million Gross margin: 0.81% Operating expenses: US$15.6 million +5 more

8 metrics

Revenue US$29.5 million Six months ended March 31, 2026; down 63.1% YoY from US$79.9 million

Gross margin 0.81% Six months ended March 31, 2026; decreased from 1.70% a year earlier

Operating expenses US$15.6 million Six months ended March 31, 2026; up 64.6% from US$9.5 million

Net loss attributable to ordinary shareholders US$13.8 million Six months ended March 31, 2026; up 163.5% from US$5.2 million

Total assets US$49.351 million As of March 31, 2026; balance sheet figure

Total liabilities US$43.595 million As of March 31, 2026; balance sheet figure

Net loss per share US$(3.08) Basic and diluted, non-redeemable ordinary shares, six months ended March 31, 2026

Class A and B shares outstanding 1,816,998 Class A; 635,902 Class B As of March 31, 2026; share capital structure

Key Terms

gross margin, operating expenses, fair value change gain/loss, convertible bonds, +2 more

6 terms

gross margin financial

"The gross margin dropped from 1.70% to 0.81%."

Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.

operating expenses financial

"Operating expenses were US$15.6 million for the six months ended March 31, 2026"

Operating expenses are the routine costs a company pays to keep its business running day to day — things like salaries, rent, utilities, office supplies, and marketing. Investors watch them because they reduce the profit available to shareholders and reveal how efficiently a company runs; lower or well-controlled operating expenses (relative to revenue) are like trimming household bills to improve savings.

fair value change gain/loss financial

"Fair value change gain/loss | | | - | | | | (948 | )"

convertible bonds financial

"Convertible bonds | | | 9,488 | | | | 9,612 |"

A convertible bond is a loan a company issues that pays regular interest and can be exchanged for a fixed number of the company’s shares under specified terms. It matters to investors because it combines the steady income and lower downside risk of a bond with the upside potential of owning stock—like holding a ticket that can be cashed for equity if the share price rises—affecting returns, risk, and shareholder dilution.

non-controlling interests financial

"Less: net (loss) income attributable to non-controlling interests"

An ownership stake in a subsidiary held by outside shareholders rather than the parent company, representing the portion of that subsidiary’s assets and profits the parent does not control. For investors, it shows what part of consolidated earnings and equity belongs to others — like a roommate who owns part of a house — which affects how much value and profit per share are truly attributable to the parent company’s shareholders.

foreign currency translation difference financial

"Foreign currency translation difference, net of tax of nil"

Earnings Snapshot

Revenue: US$29.5 million

Six months ended March 31, 2026

Revenue US$29.5 million -63.1% YoY

Gross margin 0.81% from 1.70% prior-year period

Operating expenses US$15.6 million +64.6% YoY

Net loss attributable to ordinary shareholders US$13.8 million +163.5% YoY

Net loss per share (non-redeemable ordinary) US$(3.08) vs. US$(24.70) prior-year period

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission file number: 001-42255

Autozi Internet Technology (Global) Ltd.

(Exact name of registrant as specified in its charter)

Room 204, Building A

Intelligence Park No. 26 Yongtaizhuang North Road

Haidian District, Beijing, China

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

EXHIBITS

Exhibit No.		Description
99.1		Press Release

2

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 29, 2026

	Autozi Internet Technology (Global) Ltd.
	By:	/s/ Houqi Zhang
	Name:	Houqi Zhang
	Title:	CEO and Chairman of the Board

3

Exhibit 99.1

Autozi Internet Technology (Global) Ltd. Reports First Half Fiscal Year 2026 Financial Results

BEIJING, May 29, 2026 /PRNewswire/ -- 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$29.5 million for the six months ended March 31, 2026, a decrease of 63.1% from US$79.9 million in the same period of fiscal year 2025. The revenue decline stemmed from two major factors. First, the conflict between the US and Iran has disrupted oil supply, tightening the lubricant market, driving up product prices and curbing market transactions. Second, the Company has strategically shifted its focus toward the new energy vehicle sector.

Cost of Revenues

Cost of revenues was US$29.3 million for the six months ended March 31, 2026, representing a 62.4% year-over-year decrease from US$78.5 million in the same period of fiscal year 2025. The substantial year-over-year decline in cost of revenues was mainly attributable to the Company’s comprehensive business optimization and refined cost management, which aligned closely with the corresponding revenue contraction.

Gross Profit

Gross profit was US$0.24 million for the six months ended March 31, 2026, representing a 82.5% year-over-year decrease from US$1.4 million in the same period of fiscal year 2025. The gross margin dropped from 1.70% to 0.81%. The decline in gross profit is closely linked to the contraction of operating revenue.

Operating Expenses

Operating expenses were US$15.6 million for the six months ended March 31, 2026, representing a 64.6% year-over-year increase from US$9.5 million in the same period of fiscal year 2025. The rise was mainly attributable to higher financing expenses incurred during the reporting period.

Other expenses or income, net

Other income, net was US$1.5 million for the six months ended March 31, 2026, representing a 46.4% year-over-year decrease from US$2.8 million in the same period of fiscal year 2025. The net balance was comprehensively affected by multiple factors, including net interest expenses arising from corporate financing activities, fair value fluctuation gains and losses of assets, and investment income from industrial layout. The Company’s diversified investment and financing activities during the reporting period led to comprehensive changes in non-operating income and expenses.

Net loss

As a result of the foregoing, the Company recorded a net loss attributable to the Company’s ordinary shareholders of US$13.8 million for the six months ended March 31, 2026, representing a 163.5% year-over-year increase from a net loss of US$5.2 million in the same period of fiscal year 2025. The increased loss was mainly due to the short-term strategic investment expenses and increased operating investment amid the Company’s business transformation and upgrading.

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$0.00005 par value; 9,600,000,000 and 9,600,000,000 shares authorized as of September 30, 2025 and March 31, 2026; 1,407,722 and 1,816,998 shares issued and outstanding as of September 30, 2025 and March 31, 2026, respectively)			-				-
Class B ordinary shares (US$0.00005 par value; 400,000,000 and 400,000,000 shares authorized as of September 30, 2025 and March 31, 2026; 691,902 and 635,902 shares issued and outstanding as of September 30, 2025 and March 31, 2026, respectively)			-				-
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			-				-

FAQ

How did Autozi (AZI) perform financially in the first half of fiscal 2026?

Autozi reported revenues of US$29.5 million for the six months ended March 31, 2026, down 63.1% year over year. Net loss attributable to ordinary shareholders increased to US$13.8 million, reflecting higher operating and financing expenses during its business transformation.

What caused Autozi’s revenue to decline in the six months ended March 31, 2026?

Revenue fell mainly due to lubricant-market disruption from the US–Iran conflict and a strategic shift toward new energy vehicles. Tighter oil supply raised prices and curbed transactions, while the company reallocated focus and resources to the emerging new energy vehicle sector.

How did Autozi’s profitability and margins change year over year?

Gross profit decreased to US$0.24 million, with gross margin dropping from 1.70% to 0.81%. Combined with higher operating expenses, this led to a much larger net loss attributable to ordinary shareholders of US$13.8 million for the six months ended March 31, 2026.

What happened to Autozi’s operating expenses in first-half fiscal 2026?

Operating expenses rose to US$15.6 million, a 64.6% increase from US$9.5 million a year earlier. The company attributes this primarily to higher financing expenses and increased operating investment associated with its business transformation and upgrading initiatives.

What does Autozi’s balance sheet look like as of March 31, 2026?

As of March 31, 2026, Autozi reported total assets of US$49.4 million and total liabilities of US$43.6 million. Current liabilities included short-term borrowings, convertible bonds, accounts payable, deferred revenues, and accrued expenses and other current liabilities.

How many Autozi shares were outstanding as of March 31, 2026?

As of March 31, 2026, Autozi had 1,816,998 Class A ordinary shares and 635,902 Class B ordinary shares issued and outstanding. Net loss per non-redeemable ordinary share for the six months ended March 31, 2026 was US$(3.08) basic and diluted.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 70.8 KB