NASDAQ : MATH
Metalpha Technology Holding Limited — Financial statements
Financials · Capital Markets · Hong Kong
Last price 1 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 47.54M
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Financial statements
Metalpha Technology Holding Limited (MATH) reported revenue of 37.13M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 37.13M | 37.13M | 44.57M | 16.76M | 5.69M | 122.71K |
| Cost of Revenue | 21.74M | 21.74M | 23.26M | 11.14M | 3.67M | 75.78K |
| Gross Profit | 15.39M | 15.39M | 21.30M | 5.63M | 2.02M | 46.93K |
| Selling, General & Admin | 14.04M | 14.04M | 3.86M | 4.30M | 3.58M | 3.30M |
| Operating Expenses | 14.04M | 14.04M | 3.86M | 4.30M | 13.75M | 9.36M |
| Operating Income | 1.35M | 1.35M | 17.44M | 1.33M | -11.73M | -9.31M |
| Interest Expense | -17.78K | -17.78K | -75.25K | -4.24K | -8.46K | -1.94M |
| Interest & Investment Income | 63.92K | 63.92K | 24.00K | 33.96K | 25.28K | 1.49K |
| Currency Exchange Gain (Loss) | -1.20K | 26.83K | ||||
| Other Non Operating Income (Expenses) | 113.17K | 113.17K | -1.11M | -6.01M | ||
| EBT Excluding Unusual Items | 1.51M | 1.51M | 16.28M | -4.65M | -11.72M | -11.23M |
| Gain (Loss) on Sale of Investments | 44.50K | 44.50K | -384.80K | 922.47K | ||
| Asset Writedown | 44.91K | |||||
| Other Unusual Items | 15.94K | 15.94K | 15.31K | |||
| Pretax Income | 1.57M | 1.57M | 15.89M | -3.68M | -11.70M | -11.23M |
| Income Tax Expense | 289.09K | 289.09K | 218.03K | 8.06K | ||
| Earnings From Continuing Operations | 1.28M | 1.28M | 15.89M | -3.68M | -11.92M | -11.23M |
| Earnings From Discontinued Operations | -8.25M | -3.19M | ||||
| Net Income to Company | 1.28M | 1.28M | 15.89M | -3.68M | -20.17M | -14.42M |
| Minority Interest in Earnings | -389.32K | -19.99K | ||||
| Net Income | 1.28M | 1.28M | 15.89M | -3.68M | -20.56M | -14.44M |
| Net Income to Common | 1.28M | 1.28M | 15.89M | -3.68M | -20.56M | -14.44M |
| Shares Outstanding (Basic) | 42.90M | 42.90M | 38.55M | 34.71M | 26.99M | 18.30M |
| Shares Outstanding (Diluted) | 64.62M | 64.62M | 57.45M | 34.71M | 26.99M | 18.30M |
| EPS (Basic) | 0.03 | 0.03 | 0.41 | -0.11 | -0.76 | -0.79 |
| EPS (Diluted) | 0.02 | 0.02 | 0.28 | -0.11 | -0.76 | -0.79 |
| Free Cash Flow | -14.86M | -14.86M | 24.68K | -11.60M | -1.14M | -4.79M |
| Free Cash Flow Per Share | -0.23 | -0.23 | 0.00 | -0.33 | -0.04 | -0.26 |
| Gross Margin | 41.45% | 41.45% | 47.80% | 33.57% | 35.50% | 38.24% |
| Operating Margin | 3.64% | 3.64% | 39.13% | 7.94% | -206.12% | -7,589.38% |
| Profit Margin | 3.46% | 3.46% | 35.66% | -21.95% | -361.15% | -11,767.19% |
| Free Cash Flow Margin | -40.02% | -40.02% | 0.06% | -69.20% | -20.09% | -3,907.54% |
| EBITDA | 1.36M | 1.36M | 17.44M | 1.34M | -11.73M | -9.31M |
| EBITDA Margin | 3.67% | 3.67% | 39.14% | 7.97% | -206.06% | |
| D&A For EBITDA | 10.92K | 10.92K | 3.09K | 3.83K | 2.89K | 47.00 |
| EBIT | 1.35M | 1.35M | 17.44M | 1.33M | -11.73M | -9.31M |
| EBIT Margin | 3.64% | 3.64% | 39.13% | 7.94% | -206.12% | |
| Effective Tax Rate | 18.39% | 18.39% |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.94M | 3.94M | 6.92M | 4.88M | 6.75M | 5.29M |
| Trading Asset Securities | 81.26M | 81.26M | 13.78M | 43.18M | ||
| Cash & Short-Term Investments | 85.20M | 85.20M | 20.70M | 48.07M | 6.75M | 5.29M |
| Other Receivables | 165.42K | 165.42K | 3.96M | 32.66K | 65.68K | 137.74K |
| Receivables | 165.42K | 165.42K | 3.96M | 32.66K | 65.68K | 9.52M |
| Prepaid Expenses | 61.57K | 61.57K | 27.44K | 34.79K | 62.05K | 332.00K |
| Other Current Assets | 399.53M | 399.53M | 221.79M | 126.50M | 49.04M | 8.49M |
| Total Current Assets | 484.96M | 484.96M | 246.48M | 174.63M | 55.92M | 23.63M |
| Property, Plant & Equipment | 500.02K | 500.02K | 238.10K | 41.58K | 129.35K | 683.02K |
| Other Long-Term Assets | 114.22K | 114.22K | 57.23K | 48.35K | 29.38K | 29.44K |
| Total Assets | 485.57M | 485.57M | 246.77M | 174.72M | 56.08M | 24.34M |
| Accounts Payable | 6.86K | |||||
| Accrued Expenses | 13.81M | 13.81M | 3.78M | 4.78M | 1.21M | 46.70K |
| Short-Term Debt | 5.00M | |||||
| Current Portion of Leases | 353.22K | 353.22K | 189.82K | 40.24K | 93.17K | 263.21K |
| Current Income Taxes Payable | 515.19K | 515.19K | 226.10K | 226.10K | 226.10K | 2.06M |
| Other Current Liabilities | 417.72M | 417.72M | 206.00M | 147.82M | 45.91M | 7.66M |
| Total Current Liabilities | 432.40M | 432.40M | 210.19M | 157.87M | 47.44M | 10.03M |
| Long-Term Leases | 183.34K | 183.34K | 22.87K | 40.11K | 105.54K | |
| Total Liabilities | 432.58M | 432.58M | 210.21M | 157.87M | 47.48M | 10.14M |
| Common Stock | 4.71K | 4.71K | 3.95K | 3.73K | 3.10K | 2.36K |
| Additional Paid-In Capital | 52.90M | 52.90M | 40.91M | 38.66M | 33.06M | 26.48M |
| Retained Earnings | -10.50M | -10.50M | -28.03M | -43.93M | -40.25M | -19.79M |
| Treasury Stock | -454.28K | -454.28K | -435.94K | -435.94K | -353.82K | |
| Comprehensive Income & Other | 11.04M | 11.04M | 24.12M | 22.55M | 16.13M | 6.10M |
| Total Common Equity | 52.99M | 52.99M | 36.56M | 16.85M | 8.60M | 12.79M |
| Minority Interest | 1.41M | |||||
| Shareholders' Equity | 52.99M | 52.99M | 36.56M | 16.85M | 8.60M | 14.20M |
| Total Liabilities & Equity | 485.57M | 485.57M | 246.77M | 174.72M | 56.08M | 24.34M |
| Total Debt | 536.56K | 536.56K | 212.69K | 5.04M | 133.28K | 368.75K |
| Net Cash (Debt) | 84.67M | 84.67M | 20.49M | 43.03M | 6.61M | 4.92M |
| Net Cash Per Share | 1.31 | 1.31 | 0.36 | 1.24 | 0.25 | 0.27 |
| Filing Date Shares Outstanding | 46.69M | 46.69M | 39.09M | 36.84M | 36.95M | 26.90M |
| Total Common Shares Outstanding | 46.69M | 46.69M | 39.09M | 36.84M | 31.05M | 23.60M |
| Working Capital | 52.56M | 52.56M | 36.29M | 16.76M | 8.48M | 13.59M |
| Book Value Per Share | 1.13 | 1.13 | 0.94 | 0.46 | 0.28 | 0.54 |
| Tangible Book Value | 52.99M | 52.99M | 36.56M | 16.85M | 8.60M | 12.79M |
| Tangible Book Value Per Share | 1.13 | 1.13 | 0.94 | 0.46 | 0.28 | 0.54 |
| Machinery | 60.91K | 60.91K | 61.00K | 13.62K | 12.30K | 609.67K |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 1.28M | 1.28M | 15.89M | -3.68M | -20.56M | -14.44M |
| Depreciation & Amortization | 251.56K | 251.56K | 161.89K | 89.46K | 99.34K | 9.77K |
| Asset Writedown & Restructuring Costs | 78.96K | |||||
| Loss (Gain) From Sale of Investments | -6.63M | -6.63M | -43.50M | -6.60M | -5.69M | -122.71K |
| Stock-Based Compensation | 3.28M | 3.28M | 753.68K | 1.05M | 1.47M | |
| Other Operating Activities | 6.73M | 6.73M | 23.41M | 11.94M | 21.37M | 11.29M |
| Change in Accounts Payable | 7.16M | 7.16M | -4.49M | 3.81M | 339.22K | 1.20M |
| Change in Other Net Operating Assets | -26.93M | -26.93M | 8.60M | -17.91M | 2.63M | 117.17K |
| Operating Cash Flow | -14.86M | -14.86M | 71.99K | -11.60M | -1.14M | -4.79M |
| Capital Expenditures | -47.31K | -1.28K | -3.16K | |||
| Sale of Property, Plant & Equipment | 4.46K | |||||
| Divestitures | -70.74K | |||||
| Investment in Securities | 144.50K | 144.50K | ||||
| Other Investing Activities | 63.92K | 63.92K | 24.00K | 33.96K | 53.47K | 343.64K |
| Investing Cash Flow | 208.42K | 208.42K | -23.31K | 32.68K | -20.42K | 348.11K |
| Short-Term Debt Issued | 1.79M | |||||
| Long-Term Debt Issued | 5.00M | |||||
| Total Debt Issued | 5.00M | 1.79M | ||||
| Long-Term Debt Repaid | -189.80K | -189.80K | -141.82K | -97.72K | -211.17K | -97.67K |
| Net Debt Issued (Repaid) | -189.80K | -189.80K | -141.82K | 4.90M | -211.17K | 1.70M |
| Issuance of Common Stock | 12.00M | 12.00M | 2.25M | 4.84M | 3.30M | 4.01M |
| Repurchase of Common Stock | -18.34K | -18.34K | -82.13K | -353.82K | ||
| Other Financing Activities | 75.11K | -139.93K | 3.29M | |||
| Financing Cash Flow | 11.79M | 11.79M | 2.11M | 9.73M | 2.60M | 8.99M |
| Foreign Exchange Rate Adjustments | -119.99K | -119.99K | -117.40K | -35.20K | 26.78K | -243.45K |
| Net Cash Flow | -2.98M | -2.98M | 2.04M | -1.87M | 1.46M | 4.30M |
| Free Cash Flow | -14.86M | -14.86M | 24.68K | -11.60M | -1.14M | -4.79M |
| Free Cash Flow Margin | -40.02% | -40.02% | 0.06% | -69.20% | -20.09% | -3,907.54% |
| Free Cash Flow Per Share | -0.23 | -0.23 | 0.00 | -0.33 | -0.04 | -0.26 |
| Levered Free Cash Flow | 52.44M | 52.44M | -31.07M | 29.76M | 10.73M | 4.15M |
| Unlevered Free Cash Flow | 52.45M | 52.45M | -31.03M | 29.76M | 10.73M | 5.37M |
| Cash Interest Paid | 13.14K | 11.55K | ||||
| Change in Working Capital | -19.77M | -19.77M | 4.10M | -14.10M | 2.97M | 1.32M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 46.98M | 51.67M | 64.54M | 53.56M | 32.24M | 23.92M |
| Enterprise Value | -37.68M | 17.40M | 36.76M | 46.94M | 27.19M | 17.35M |
| Last Close Price | 0.99 | 1.15 | 1.70 | 1.45 | 1.04 | 1.02 |
| PE Ratio | 49.41 | 40.26 | 4.06 | |||
| PS Ratio | 1.27 | 1.39 | 1.45 | 3.19 | 5.66 | 194.90 |
| PB Ratio | 0.87 | 0.97 | 1.76 | 3.18 | 3.75 | 1.68 |
| P/TBV Ratio | 0.89 | 0.97 | 1.76 | 3.18 | 3.75 | 1.87 |
| P/FCF Ratio | 2,614.92 | |||||
| P/OCF Ratio | 896.50 | |||||
| EV/Sales Ratio | 0.47 | 0.82 | 2.80 | 4.78 | 141.35 | |
| EV/EBITDA Ratio | 12.76 | 2.11 | 35.15 | |||
| EV/EBIT Ratio | 12.86 | 2.11 | 35.25 | |||
| EV/FCF Ratio | 1,489.32 | |||||
| Debt / Equity Ratio | 0.01 | 0.01 | 0.01 | 0.30 | 0.02 | 0.03 |
| Debt / EBITDA Ratio | 0.33 | 0.33 | 0.01 | 3.55 | ||
| Debt / FCF Ratio | 8.62 | |||||
| Net Debt / Equity Ratio | -1.60 | -1.60 | -0.56 | -2.55 | -0.77 | -0.35 |
| Net Debt / EBITDA Ratio | -62.09 | -62.09 | -1.17 | -32.22 | 0.56 | 0.53 |
| Net Debt / FCF Ratio | 5.70 | 5.70 | -830.02 | 3.71 | 5.79 | 1.03 |
| Asset Turnover | 0.10 | 0.10 | 0.21 | 0.14 | 0.14 | 0.01 |
| Quick Ratio | 0.20 | 0.20 | 0.12 | 0.30 | 0.14 | 0.54 |
| Current Ratio | 1.12 | 1.12 | 1.17 | 1.11 | 1.18 | 2.35 |
| Return on Equity (ROE) | 2.87% | 2.87% | 59.52% | -28.92% | -104.57% | -98.76% |
| Return on Assets (ROA) | 0.23% | 0.23% | 5.17% | 0.72% | -18.24% | -29.13% |
| Return on Invested Capital (ROIC) | 108.50% | -208.30% | -86.22% | |||
| Return on Capital Employed (ROCE) | 2.50% | 2.50% | 47.70% | 7.90% | -135.80% | -65.10% |
| Earnings Yield | 2.02% | 2.48% | 24.63% | -6.87% | -63.76% | -60.38% |
| FCF Yield | -31.63% | -28.77% | 0.04% | -21.66% | -3.55% | -20.05% |
| Buyback Yield / Dilution | -12.48% | -12.48% | -65.53% | -28.59% | -47.50% | -57.07% |