Token Cat Ltd
TC Nasdaq· Services-Business Services, Nec
KIRA · Stoqly’s AI analyst, in plain words
- Token Cat Ltd had $0.8M of revenue in fiscal 2025, down 87.9% on the year before. Over five years, revenue changed −55.6% a year on average.
- Its operating margin was −582.4%, down 506.0 pts: of every 100 in sales, about −582 is left after running the business.
- Token Cat Ltd made $0.3M of net profit in fiscal 2025.
- Token Cat Ltd owes $0.7M more than it holds in cash.
Market cap
—
P/E
—
Revenue
$0.8M
Net income
$0.3M
Free cash flow
—
Operating margin
−582.4%
Token Cat Ltd in 30 seconds · fiscal 2025
Are sales growing?
−87.9%
No. Sales fell 87.9% last year.
Does it make a profit?
38.3%
Yes. It keeps 38.3% of every sale as profit.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
What Token Cat Ltd does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · May 8, 2026
- Legal name
- Token Cat Ltd
- CIK
- 0001743340
Token Cat Ltd · TC
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $55.4M | $27.2M | $22.9M | $6.8M | $0.8M |
| Revenue growth | 15.9% | −50.9% | −15.7% | −70.2% | −87.9% |
| Gross margin | 76.1% | 61.5% | 57.5% | 68.3% | 2.8% |
| Operating margin | −31.0% | −65.1% | −15.1% | −76.4% | −582.4% |
| Net income | −$15.8M | −$24.7M | −$11.7M | −$26.1M | $0.3M |
| Net margin | −28.5% | −90.9% | −51.1% | −382.3% | 38.3% |
| Diluted EPS | −$0.82 | −$1.24 | −$0.45 | −$0.80 | — |
| Cash | |||||
| Cash from operations | −$14.3M | −$16.3M | −$10.6M | −$4.8M | −$24.5M |
| Capital expenditure | $0.2M | $0.0M | — | $0.0M | — |
| Free cash flow | −$14.5M | −$16.3M | — | −$4.8M | — |
| FCF margin | −26.1% | −60.0% | — | −70.6% | — |
| Share count change | 0.8% | 4.2% | 27.3% | 27.9% | 9.4% |
| Debt and strength | |||||
| Cash and short-term investments | $10.0M | $10.1M | $1.3M | $0.9M | $0.1M |
| Debt incl. finance leases | $1.1M | $0.7M | $2.6M | $5.7M | $0.9M |
| Shareholders' equity | $30.6M | $13.4M | $2.7M | −$19.3M | $18.9M |
| Current ratio | 1.4x | 1.6x | 0.7x | 0.4x | 10.7x |
| Returns and quality | |||||
| Return on capital | −62.5% | −349.8% | −68.0% | — | −19.3% |
| Return on equity | −42.3% | −112.3% | −144.7% | — | — |
| Return on tangible equity | −163.8% | −361.2% | — | — | 1.7% |
| Piotroski F-score | 4 | 2 | 3 | 2 | 4 |
| Altman Z'' | −8.9 | −16.9 | −36.2 | −121.2 | −18.7 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Token Cat Ltd · TC
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Source: SEC EDGAR XBRL filings (CIK 0001743340). Data updated October 24, 2026. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.