NASDAQ : SAIH
SAIHEAT Limited — Financial statements
Technology · Information Technology Services · Singapore
Last price 27.3 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 50.02M
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Financial statements
SAIHEAT Limited (SAIH) reported revenue of 4.52M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.52M | 4.52M | 5.54M | 6.78M | 10.64M | 17.04M |
| Cost of Revenue | 6.87M | 6.87M | 6.55M | 6.32M | 9.50M | 15.77M |
| Gross Profit | -2.35M | -2.35M | -1.01M | 457.00K | 1.14M | 1.26M |
| Selling, General & Admin | 2.70M | 2.70M | 6.26M | 6.84M | 7.18M | 17.16M |
| Research & Development | 217.00K | 217.00K | 642.00K | 853.00K | 476.00K | 419.00K |
| Operating Expenses | 2.92M | 2.92M | 6.90M | 7.69M | 7.65M | 17.58M |
| Operating Income | -5.27M | -5.27M | -7.91M | -7.23M | -6.51M | -16.32M |
| Other Non Operating Income (Expenses) | 369.00K | 369.00K | 2.02M | 1.25M | -662.00K | -228.00K |
| EBT Excluding Unusual Items | -4.90M | -4.90M | -5.89M | -5.98M | -7.18M | -16.55M |
| Gain (Loss) on Sale of Assets | -718.00K | |||||
| Asset Writedown | -1.56M | -1.56M | -138.00K | -951.00K | -135.00K | |
| Pretax Income | -6.45M | -6.45M | -5.89M | -6.12M | -8.85M | -16.68M |
| Income Tax Expense | 24.00K | |||||
| Net Income | -6.45M | -6.45M | -5.89M | -6.12M | -8.85M | -16.70M |
| Preferred Dividends & Other Adjustments | 1.06M | |||||
| Net Income to Common | -6.45M | -6.45M | -5.89M | -6.12M | -8.85M | -17.77M |
| Shares Outstanding (Basic) | 1.84M | 1.84M | 1.70M | 1.61M | 1.32M | 829.85K |
| Shares Outstanding (Diluted) | 1.84M | 1.84M | 1.70M | 1.61M | 1.32M | 829.85K |
| EPS (Basic) | -3.51 | -3.51 | -3.46 | -3.79 | -6.72 | -21.41 |
| EPS (Diluted) | -3.51 | -3.51 | -3.46 | -3.79 | -6.72 | -21.41 |
| Free Cash Flow | -7.62M | -7.62M | -6.27M | -8.17M | -6.80M | -4.95M |
| Free Cash Flow Per Share | -4.15 | -4.15 | -3.68 | -5.06 | -5.17 | -5.97 |
| Gross Margin | -51.88% | -51.88% | -18.22% | 6.74% | 10.72% | 7.42% |
| Operating Margin | -116.45% | -116.45% | -142.68% | -106.74% | -61.23% | -95.77% |
| Profit Margin | -142.72% | -142.72% | -106.19% | -90.32% | -83.14% | -104.29% |
| Free Cash Flow Margin | -168.44% | -168.44% | -113.06% | -120.63% | -63.97% | -29.07% |
| EBITDA | -3.84M | -3.84M | -6.25M | -5.89M | -4.94M | -16.16M |
| EBITDA Margin | -84.83% | -84.83% | -112.83% | -86.87% | -46.44% | -94.88% |
| D&A For EBITDA | 1.43M | 1.43M | 1.66M | 1.35M | 1.57M | 152.00K |
| EBIT | -5.27M | -5.27M | -7.91M | -7.23M | -6.51M | -16.32M |
| EBIT Margin | -116.45% | -116.45% | -142.68% | -106.74% | -61.23% | -95.77% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 202.00K | 202.00K | 1.04M | 3.18M | 11.21M | 4.48M |
| Short-Term Investments | 3.96M | 3.96M | 6.91M | 6.71M | 4.65M | 83.00K |
| Cash & Short-Term Investments | 4.16M | 4.16M | 7.94M | 9.88M | 15.87M | 4.56M |
| Receivables | 293.00K | 293.00K | 237.00K | 900.00K | 1.54M | 1.17M |
| Inventory | 64.00K | 64.00K | 1.79M | 267.00K | 152.00K | 345.00K |
| Restricted Cash | 41.00K | |||||
| Other Current Assets | 6.72M | 6.72M | 3.97M | 1.20M | 1.13M | 801.00K |
| Total Current Assets | 11.24M | 11.24M | 13.97M | 12.25M | 18.69M | 6.88M |
| Property, Plant & Equipment | 1.47M | 1.47M | 4.56M | 5.82M | 2.31M | 4.39M |
| Other Intangible Assets | 94.00K | 265.00K | ||||
| Total Assets | 12.71M | 12.71M | 18.53M | 18.07M | 21.10M | 11.53M |
| Accounts Payable | 715.00K | 715.00K | 438.00K | 45.00K | 165.00K | 1.26M |
| Accrued Expenses | 358.00K | 159.00K | 25.00K | |||
| Short-Term Debt | 3.68M | 3.68M | 2.12M | |||
| Current Portion of Leases | 83.00K | 83.00K | 82.00K | 241.00K | 188.00K | 17.00K |
| Current Income Taxes Payable | 1.00K | |||||
| Other Current Liabilities | 405.00K | 405.00K | 1.05M | 42.00K | 43.00K | 92.00K |
| Total Current Liabilities | 4.88M | 4.88M | 3.68M | 686.00K | 555.00K | 1.40M |
| Long-Term Leases | 432.00K | 432.00K | 486.00K | 569.00K | 231.00K | 27.00K |
| Total Liabilities | 5.32M | 5.32M | 4.17M | 1.25M | 786.00K | 1.42M |
| Common Stock | 3.00K | 3.00K | 2.00K | 2.00K | 2.00K | 1.00K |
| Additional Paid-In Capital | 52.19M | 52.19M | 52.14M | 48.68M | 46.03M | 13.97M |
| Retained Earnings | -44.28M | -44.28M | -37.23M | -31.34M | -25.26M | -16.41M |
| Comprehensive Income & Other | -513.00K | -513.00K | -542.00K | -517.00K | -461.00K | 74.00K |
| Total Common Equity | 7.40M | 7.40M | 14.37M | 16.82M | 20.31M | -2.36M |
| Shareholders' Equity | 7.40M | 7.40M | 14.37M | 16.82M | 20.31M | 10.11M |
| Total Liabilities & Equity | 12.71M | 12.71M | 18.53M | 18.07M | 21.10M | 11.53M |
| Total Debt | 4.20M | 4.20M | 2.68M | 810.00K | 419.00K | 44.00K |
| Net Cash (Debt) | -34.00K | -34.00K | 5.26M | 9.07M | 15.45M | 4.52M |
| Net Cash Per Share | -0.02 | -0.02 | 3.09 | 5.62 | 11.73 | 5.44 |
| Filing Date Shares Outstanding | 1.83M | 1.83M | 1.75M | 1.60M | 1.53M | 6.07M |
| Total Common Shares Outstanding | 1.83M | 1.83M | 1.75M | 1.60M | 1.53M | 6.07M |
| Working Capital | 6.36M | 6.36M | 10.29M | 11.56M | 18.14M | 5.48M |
| Book Value Per Share | 4.04 | 4.04 | 8.20 | 10.49 | 13.28 | -0.39 |
| Tangible Book Value | 7.40M | 7.40M | 14.37M | 16.82M | 20.22M | -2.63M |
| Tangible Book Value Per Share | 4.04 | 4.04 | 8.20 | 10.49 | 13.22 | -0.43 |
| Machinery | 4.80M | 4.80M | 7.42M | 6.25M | 3.70M | 4.47M |
| Construction In Progress | 602.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -6.45M | -6.45M | -5.89M | -6.12M | -8.85M | -16.70M |
| Depreciation & Amortization | 1.55M | 1.55M | 1.90M | 1.57M | 1.73M | 160.00K |
| Other Amortization | 88.00K | 157.00K | ||||
| Loss (Gain) From Sale of Assets | -3.00K | -3.00K | 2.00K | 354.00K | 718.00K | 228.00K |
| Asset Writedown & Restructuring Costs | 1.35M | 1.35M | 138.00K | 951.00K | 135.00K | |
| Loss (Gain) From Sale of Investments | -591.00K | -591.00K | -2.03M | -785.00K | ||
| Stock-Based Compensation | 25.00K | 25.00K | 3.46M | 2.64M | 1.06M | 14.46M |
| Other Operating Activities | 12.00K | |||||
| Change in Accounts Receivable | -326.00K | -326.00K | 858.00K | 686.00K | -366.00K | -1.12M |
| Change in Inventory | 713.00K | 713.00K | -735.00K | 106.00K | 30.00K | 721.00K |
| Change in Accounts Payable | -303.00K | -303.00K | 396.00K | -119.00K | -1.10M | 1.21M |
| Change in Income Taxes | -36.00K | |||||
| Change in Other Net Operating Assets | -3.58M | -3.58M | -3.51M | -1.59M | 794.00K | -204.00K |
| Operating Cash Flow | -7.62M | -7.62M | -5.55M | -3.12M | -4.93M | -983.00K |
| Capital Expenditures | -713.00K | -5.05M | -1.87M | -3.97M | ||
| Sale of Property, Plant & Equipment | 239.00K | 239.00K | 73.00K | 115.00K | 60.00K | |
| Investment in Securities | 4.95M | 4.95M | 1.93M | 106.00K | -4.60M | |
| Other Investing Activities | -25.00K | -25.00K | 61.00K | -69.00K | -12.00K | |
| Investing Cash Flow | 5.16M | 5.16M | 1.35M | -4.90M | -6.42M | -3.97M |
| Short-Term Debt Issued | 1.56M | 1.56M | 2.12M | |||
| Total Debt Issued | 1.56M | 1.56M | 2.12M | |||
| Net Debt Issued (Repaid) | 1.56M | 1.56M | 2.12M | |||
| Other Financing Activities | 9.00K | 18.53M | ||||
| Financing Cash Flow | 1.56M | 1.56M | 2.12M | 9.00K | 18.53M | 8.19M |
| Foreign Exchange Rate Adjustments | 11.00K | 11.00K | -5.00K | -26.00K | -438.00K | -61.00K |
| Net Cash Flow | -877.00K | -877.00K | -2.10M | -8.04M | 6.74M | 3.18M |
| Free Cash Flow | -7.62M | -7.62M | -6.27M | -8.17M | -6.80M | -4.95M |
| Free Cash Flow Margin | -168.44% | -168.44% | -113.06% | -120.63% | -63.97% | -29.07% |
| Free Cash Flow Per Share | -4.15 | -4.15 | -3.68 | -5.06 | -5.17 | -5.97 |
| Levered Free Cash Flow | -3.15M | -3.15M | -2.93M | -4.82M | -4.58M | 1.22M |
| Unlevered Free Cash Flow | -3.15M | -3.15M | -2.93M | -4.82M | -4.58M | 1.22M |
| Change in Working Capital | -3.50M | -3.50M | -2.99M | -921.00K | -638.00K | 572.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 46.82M | 17.57M | 18.97M | 28.37M | 45.35M | 984.00M |
| Enterprise Value | 46.85M | 14.51M | 12.31M | 21.17M | 29.21M | 991.37M |
| Last Close Price | 25.27 | 9.20 | 11.55 | 17.85 | 30.15 | 147.60 |
| PS Ratio | 10.24 | 3.88 | 3.42 | 4.19 | 4.26 | 57.75 |
| PB Ratio | 6.26 | 2.37 | 1.32 | 1.69 | 2.23 | 97.33 |
| P/TBV Ratio | 6.26 | 2.37 | 1.32 | 1.69 | 2.24 | |
| EV/Sales Ratio | 10.25 | 3.21 | 2.22 | 3.12 | 2.75 | 58.19 |
| Debt / Equity Ratio | 0.57 | 0.57 | 0.19 | 0.05 | 0.02 | 0.00 |
| Net Debt / Equity Ratio | 0.01 | 0.01 | -0.37 | -0.54 | -0.76 | -0.45 |
| Net Debt / EBITDA Ratio | -0.01 | -0.01 | 0.84 | 1.54 | 3.13 | 0.28 |
| Net Debt / FCF Ratio | -0.00 | -0.00 | 0.84 | 1.11 | 2.27 | 0.91 |
| Asset Turnover | 0.29 | 0.29 | 0.30 | 0.35 | 0.65 | 2.19 |
| Inventory Turnover | 7.42 | 7.42 | 6.38 | 30.16 | 38.22 | 25.34 |
| Quick Ratio | 0.91 | 0.91 | 2.22 | 15.72 | 31.36 | 4.11 |
| Current Ratio | 2.30 | 2.30 | 3.79 | 17.86 | 33.68 | 4.93 |
| Return on Equity (ROE) | -59.31% | -59.31% | -37.75% | -32.96% | -58.15% | -241.67% |
| Return on Assets (ROA) | -21.07% | -21.07% | -27.01% | -23.08% | -24.95% | -130.99% |
| Return on Invested Capital (ROIC) | -70.85% | -63.68% | -93.87% | -114.69% | -124.53% | -407.52% |
| Return on Capital Employed (ROCE) | -67.20% | -67.20% | -53.30% | -41.60% | -31.70% | -161.00% |
| Earnings Yield | -13.76% | -36.74% | -31.03% | -21.57% | -19.50% | -1.70% |
| FCF Yield | -16.45% | -43.36% | -33.04% | -28.81% | -15.00% | -0.50% |
| Buyback Yield / Dilution | -7.89% | -7.89% | -5.45% | -22.61% | -58.64% |