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Next Technology Holding Inc (the Company ) was incorporated in the State of Wyoming on March 28, 2019. We initially served as a holding company with substantially all operations conducting through subsidiaries in Republic of China ( PRC ) engaging in the business of providing technical services and solution to corporate and individual users.
The business is unprofitable at the operating level (-690.49% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 545.3%, still solid. Margins contracted 689.6pp, which offsets some of the top-line progress.
ROIC dropped from -0.02% to -23.59%, capital efficiency is deteriorating. Negative free cash flow of -$3M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (FY)
$12M
▲ +545.3% YoY
Net Income (TTM)
-$156M
▲ +564.5% YoY
Op. Margin
-690.49%
▼ -689.6pp YoY
ROIC
-13.11%
▼ -23.6pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$3M
Op. Cash Flow (FY)
-$3M
Net Debt
-$159M
Net Cash Position
Cash & Equiv.
$160M
5Y CAGR: +13.1%
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