XCH (XCH) financial statements
XCH reported revenue of $25M in fiscal 2025, down 5.2% a year over 3 years.
Net income was -$33M and the operating margin -129.9%, against 5.6% in 2022.
The diluted share count rose 326% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from XCH's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $29M | $39M | $42M | $25M |
| Cost of revenue | $19M | $21M | $21M | $14M |
| Gross profit | $11M | $18M | $21M | $12M |
| Research and development | $3M | $4M | $12M | $7M |
| Selling, general and admin | $6M | $20M | $21M | $37M |
| Operating income | $2M | -$7M | -$12M | -$33M |
| Interest expense | $66,959 | $194,500 | $212,732 | $214,888 |
| Pre-tax income | $2M | -$8M | -$12M | -$33M |
| Income tax | -$11,612 | — | — | — |
| Net income | $2M | -$8M | -$12M | -$33M |
| EPS (diluted) | — | -$0.01 | — | — |
| Diluted shares | 656M | 713M | 1.29B | 2.80B |
| Gross margin | 36.4% | 45.6% | 50.3% | 46.2% |
| Operating margin | 5.6% | -16.9% | -28.5% | -129.9% |
| Net margin | 5.5% | -21.0% | -28.3% | -129.5% |
Balance sheet
Fiscal years, from XCH's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | — | $16M | $27M | $11M |
| Receivables | — | $12M | $11M | $7M |
| Inventory | — | $7M | $8M | $9M |
| Total current assets | — | $40M | $54M | $37M |
| Property, plant and equipment | — | $576,376 | $969,207 | $2M |
| Total assets | — | $41M | $57M | $43M |
| Total current liabilities | — | $31M | $26M | $24M |
| Total liabilities | — | $31M | $28M | $25M |
| Shareholders' equity | -$28M | -$30M | $30M | $18M |
| Net debt | — | -$16M | -$27M | -$11M |
Cash flow
Fiscal years, from XCH's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | $848,699 | -$6M | -$7M | -$8M |
| Stock-based compensation | — | $7M | $7M | $21M |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for XCH.
Open XCH in InvestinglyQuestions
What was XCH's revenue in 2025?
$25M in fiscal 2025, from its 10-K filing.
From XCH's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.