NASDAQ : VAI
Senmiao Technology Limited — Financial statements
United States
Last price 2.16 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 31.44M
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Financial statements
Senmiao Technology Limited (VAI) reported revenue of 1.48M 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 | 1.48M | 1.55M | 1.90M | 4.32M | 8.08M | 4.91M |
| Cost of Revenue | 1.29M | 1.34M | 1.32M | 3.40M | 6.59M | 7.06M |
| Gross Profit | 190.03K | 210.20K | 571.72K | 924.73K | 1.49M | -2.15M |
| Selling, General & Admin | 2.62M | 2.43M | 1.86M | 3.13M | 6.14M | 9.04M |
| Operating Expenses | 3.29M | 3.10M | 2.56M | 5.28M | 7.63M | 9.27M |
| Operating Income | -3.10M | -2.89M | -1.99M | -4.35M | -6.14M | -11.42M |
| Interest Expense | -29.61K | -25.68K | -61.74K | |||
| Other Non Operating Income (Expenses) | -34.72M | -2.45M | 102.75K | 515.51K | 1.92M | 6.02M |
| EBT Excluding Unusual Items | -37.82M | -5.33M | -1.89M | -3.87M | -4.24M | -5.46M |
| Impairment of Goodwill | -139.93K | |||||
| Gain (Loss) on Sale of Assets | 37.00K | 22.00K | 35.00K | 453.00K | ||
| Asset Writedown | -3.04K | |||||
| Other Unusual Items | 43.00K | 43.00K | -20.00K | |||
| Pretax Income | -37.74M | -5.27M | -1.91M | -3.83M | -3.79M | -5.60M |
| Income Tax Expense | -4.51K | 20.21K | 4.57K | |||
| Earnings From Continuing Operations | -37.74M | -5.27M | -1.90M | -3.85M | -3.79M | -5.61M |
| Earnings From Discontinued Operations | -138.86K | -102.60K | -1.78M | -380.01K | 8.94M | |
| Net Income to Company | -37.88M | -5.37M | -3.68M | -4.23M | -3.79M | 3.34M |
| Minority Interest in Earnings | 16.48K | 101.30K | -44.49K | 565.24K | 676.94K | -3.87M |
| Net Income | -37.86M | -5.27M | -3.73M | -3.67M | -3.11M | -536.62K |
| Net Income to Common | -37.86M | -5.27M | -3.73M | -3.67M | -3.11M | -536.62K |
| Shares Outstanding (Basic) | 3.68M | 2.68M | 1.05M | 886.32K | 719.58K | 572.70K |
| Shares Outstanding (Diluted) | 3.68M | 2.68M | 1.05M | 886.32K | 719.58K | 572.70K |
| EPS (Basic) | -10.29 | -1.97 | -3.54 | -4.14 | -4.33 | -0.94 |
| EPS (Diluted) | -10.29 | -1.97 | -3.54 | -4.14 | -4.33 | -0.94 |
| Free Cash Flow | -2.22M | -1.60M | 499.89K | -664.44K | -593.24K | -12.38M |
| Free Cash Flow Per Share | -0.60 | -0.60 | 0.47 | -0.75 | -0.82 | -21.62 |
| Gross Margin | 12.85% | 13.59% | 30.15% | 21.41% | 18.43% | -43.73% |
| Operating Margin | -209.56% | -186.80% | -104.93% | -100.81% | -75.98% | -232.42% |
| Profit Margin | -2,559.60% | -340.87% | -196.47% | -84.93% | -38.52% | -10.92% |
| Free Cash Flow Margin | -150.34% | -103.58% | 26.36% | -15.38% | -7.34% | -252.05% |
| EBITDA | -2.28M | -2.01M | -1.08M | -3.43M | -4.86M | -10.30M |
| EBITDA Margin | -154.10% | -129.81% | -56.88% | -79.34% | -60.14% | -209.68% |
| D&A For EBITDA | 820.34K | 881.13K | 911.05K | 927.15K | 1.28M | 1.12M |
| EBIT | -3.10M | -2.89M | -1.99M | -4.35M | -6.14M | -11.42M |
| EBIT Margin | -209.56% | -186.80% | -104.93% | -100.81% | -75.98% | -232.42% |
| Revenue as Reported | 4.32M | 8.08M | 4.91M |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 12.87M | 3.56M | 701.30K | 737.72K | 1.61M | 1.19M |
| Short-Term Investments | 679.79K | 731.28K | ||||
| Cash & Short-Term Investments | 12.87M | 3.56M | 701.30K | 737.72K | 2.29M | 1.92M |
| Accounts Receivable | 26.30K | 44.45K | 175.30K | 164.05K | 310.86K | 732.29K |
| Other Receivables | 14.50K | 522.07K | 676.04K | 1.89M | 1.68M | |
| Receivables | 26.30K | 58.95K | 697.37K | 840.09K | 2.20M | 2.41M |
| Inventory | 6.68K | 286.49K | ||||
| Prepaid Expenses | 732.36K | 387.31K | 256.29K | 294.37K | 334.30K | 957.20K |
| Restricted Cash | 2.34K | |||||
| Other Current Assets | 80.90K | 83.69K | 583.80K | 776.65K | 20.82K | 25.04K |
| Total Current Assets | 13.71M | 4.09M | 2.24M | 2.65M | 4.85M | 5.60M |
| Property, Plant & Equipment | 762.57K | 860.45K | 1.66M | 3.14M | 4.18M | 6.59M |
| Other Intangible Assets | 281.25K | 300.00K | 375.00K | 450.03K | 774.32K | 959.55K |
| Long-Term Accounts Receivable | 2.94K | 5.05K | 23.19K | 92.52K | 71.13K | 93.05K |
| Other Long-Term Assets | 1.51M | 3.53M | 4.36M | 6.64M | ||
| Total Assets | 14.76M | 5.26M | 5.80M | 9.86M | 14.24M | 19.88M |
| Accounts Payable | 102.43K | 103.56K | 124.47K | 96.40K | 183.65K | 14.45K |
| Accrued Expenses | 253.90K | 212.91K | 1.18M | 1.90M | 3.38M | 2.44M |
| Short-Term Debt | 578.40K | 578.40K | 414.00 | 12.35K | 8.67K | 9.90K |
| Current Portion of Long-Term Debt | 8.81K | 145.54K | ||||
| Current Portion of Leases | 61.52K | 58.02K | 10.37K | 345.52K | 468.39K | 685.51K |
| Current Income Taxes Payable | 39.86K | 38.48K | 49.46K | 20.02K | ||
| Current Unearned Revenue | 77.38K | 86.77K | 103.90K | 122.46K | ||
| Other Current Liabilities | 48.95M | 6.70M | 3.75M | 2.84M | 1.14M | 2.87M |
| Total Current Liabilities | 50.06M | 7.78M | 5.22M | 5.34M | 5.18M | 6.17M |
| Long-Term Leases | 147.07K | 513.80K | 276.18K | |||
| Long-Term Deferred Tax Liabilities | 42.93K | 46.39K | ||||
| Other Long-Term Liabilities | 82.84K | |||||
| Total Liabilities | 50.06M | 7.78M | 5.22M | 5.57M | 5.74M | 6.49M |
| Common Stock | 1.46K | 456.00 | 105.00 | 1.05K | 773.00 | 618.00 |
| Additional Paid-In Capital | 45.40M | 45.40M | 43.95M | 43.95M | 43.36M | 42.80M |
| Retained Earnings | -83.14M | -50.38M | -45.11M | -41.38M | -37.72M | -34.60M |
| Comprehensive Income & Other | -838.89K | -851.57K | -1.70M | -1.67M | -1.25M | -109.45K |
| Total Common Equity | -38.58M | -5.83M | -2.86M | 894.90K | 4.39M | 8.09M |
| Minority Interest | 3.24M | 3.27M | 3.20M | 3.16M | 3.83M | 4.48M |
| Shareholders' Equity | -35.30M | -2.52M | 582.62K | 4.29M | 8.50M | 13.39M |
| Total Liabilities & Equity | 14.76M | 5.26M | 5.80M | 9.86M | 14.24M | 19.88M |
| Total Debt | 639.91K | 636.42K | 10.78K | 504.94K | 999.67K | 1.12M |
| Net Cash (Debt) | 12.23M | 2.93M | 690.52K | 232.78K | 1.29M | 799.36K |
| Net Cash Per Share | 3.32 | 1.09 | 0.66 | 0.26 | 1.79 | 1.40 |
| Filing Date Shares Outstanding | 14.56M | 14.56M | 1.11M | 1.05M | 799.30K | 631.36K |
| Total Common Shares Outstanding | 14.56M | 4.56M | 1.05M | 1.05M | 774.30K | 618.68K |
| Working Capital | -36.35M | -3.69M | -2.98M | -2.69M | -330.04K | -566.27K |
| Book Value Per Share | -2.65 | -1.28 | -2.71 | 0.85 | 5.68 | 13.08 |
| Tangible Book Value | -38.86M | -6.13M | -3.23M | 444.87K | 3.62M | 7.13M |
| Tangible Book Value Per Share | -2.67 | -1.35 | -3.07 | 0.42 | 4.68 | 11.53 |
| Machinery | 4.56M | 4.48M | 4.40M | 4.80M | 4.80M | 6.59M |
| Leasehold Improvements | 174.27K | 183.22K | 198.46K |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -37.86M | -5.27M | -3.73M | -3.67M | -3.11M | -536.62K |
| Depreciation & Amortization | 858.66K | 919.64K | 964.32K | 1.33M | 1.99M | 2.07M |
| Other Amortization | 75.00K | 75.00K | 75.00K | 78.04K | ||
| Loss (Gain) From Sale of Assets | -36.59K | -21.92K | -4.02K | -35.17K | -452.52K | |
| Asset Writedown & Restructuring Costs | 142.97K | |||||
| Stock-Based Compensation | 250.00K | 250.00K | 444.30K | 653.00K | ||
| Provision & Write-off of Bad Debts | 422.06K | 422.06K | 697.16K | 1.73M | 1.49M | 235.28K |
| Other Operating Activities | 34.74M | 2.39M | 56.66K | -796.46K | -2.39M | -11.14M |
| Change in Accounts Receivable | 7.94K | 9.16K | 2.44K | 86.70K | 218.35K | 4.46K |
| Change in Inventory | 6.83K | 316.14K | -260.46K | |||
| Change in Accounts Payable | -24.89K | -26.59K | 87.58K | 136.42K | 170.70K | -31.43K |
| Change in Income Taxes | 20.17K | |||||
| Change in Other Net Operating Assets | -406.49K | 11.61K | 398.06K | 607.47K | 2.33M | -177.26K |
| Operating Cash Flow | -2.16M | -1.60M | 500.30K | 7.24K | 557.84K | -9.16M |
| Capital Expenditures | -61.88K | -415.00 | -671.68K | -1.15M | -3.22M | |
| Sale of Property, Plant & Equipment | 57.87K | 35.53K | 16.76K | 101.91K | 1.50M | |
| Divestitures | -193.00 | |||||
| Sale (Purchase) of Intangibles | -26.42K | -141.73K | ||||
| Other Investing Activities | -229.08K | -229.47K | -481.12K | 159.00 | -111.21K | |
| Investing Cash Flow | -233.09K | -193.94K | -464.78K | -569.61K | 320.53K | -3.48M |
| Short-Term Debt Issued | 778.31K | 339.05K | 144.15K | |||
| Long-Term Debt Issued | 183.39K | |||||
| Total Debt Issued | 678.96K | 778.31K | 339.05K | 144.15K | 183.39K | |
| Short-Term Debt Repaid | -269.37K | -11.94K | -515.21K | -125.84K | -157.37K | |
| Long-Term Debt Repaid | -215.44K | -392.14K | -433.61K | |||
| Total Debt Repaid | -269.37K | -269.37K | -11.94K | -730.65K | -517.99K | -590.99K |
| Net Debt Issued (Repaid) | 409.60K | 508.94K | -11.94K | -391.61K | -373.83K | -407.60K |
| Issuance of Common Stock | 14.60M | 3.83M | 5.79M | |||
| Other Financing Activities | -742.02K | 80.10K | -111.78K | 223.26K | ||
| Financing Cash Flow | 14.27M | 4.42M | -123.72K | -168.34K | -373.83K | 9.76M |
| Foreign Exchange Rate Adjustments | 165.31K | 142.73K | 127.14K | -84.75K | -79.66K | -381.86K |
| Net Cash Flow | 12.04M | 2.77M | 38.94K | -815.45K | 424.87K | -3.26M |
| Free Cash Flow | -2.22M | -1.60M | 499.89K | -664.44K | -593.24K | -12.38M |
| Free Cash Flow Margin | -150.34% | -103.58% | 26.36% | -15.38% | -7.34% | -252.05% |
| Free Cash Flow Per Share | -0.60 | -0.60 | 0.47 | -0.75 | -0.82 | -21.62 |
| Levered Free Cash Flow | 44.57M | 2.38M | 393.45K | -626.64K | -2.55M | -15.69M |
| Unlevered Free Cash Flow | 44.57M | 2.38M | 393.45K | -608.13K | -2.53M | -15.65M |
| Cash Interest Paid | 525.00 | 5.89K | ||||
| Cash Income Tax Paid | 39.00 | |||||
| Change in Working Capital | -423.44K | -5.83K | 488.07K | 857.58K | 3.03M | -464.70K |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 31.01M | 5.65M | 9.36M | 8.61M | 6.77M | 14.22M |
| Enterprise Value | 18.78M | 5.74M | 12.52M | 12.06M | 10.47M | 15.83M |
| Last Close Price | 2.13 | 1.24 | 8.90 | 9.00 | 8.80 | 23.01 |
| PS Ratio | 20.96 | 3.65 | 4.94 | 1.99 | 0.84 | 2.89 |
| PB Ratio | -2.24 | 16.07 | 2.01 | 0.80 | 1.06 | |
| P/TBV Ratio | 19.36 | 1.87 | 1.99 | |||
| P/FCF Ratio | 18.73 | |||||
| P/OCF Ratio | 18.71 | 1,189.37 | 12.14 | |||
| EV/Sales Ratio | 12.69 | 3.71 | 6.60 | 2.79 | 1.29 | 3.22 |
| EV/FCF Ratio | 25.05 | |||||
| Debt / Equity Ratio | -0.02 | -0.25 | 0.02 | 0.12 | 0.12 | 0.08 |
| Debt / FCF Ratio | 0.02 | |||||
| Net Debt / Equity Ratio | 0.35 | 1.16 | -1.19 | -0.05 | -0.15 | -0.06 |
| Net Debt / EBITDA Ratio | 5.37 | 1.46 | 0.64 | 0.07 | 0.27 | 0.08 |
| Net Debt / FCF Ratio | 5.50 | 1.83 | -1.38 | 0.35 | 2.17 | 0.07 |
| Asset Turnover | 0.15 | 0.28 | 0.24 | 0.36 | 0.47 | 0.23 |
| Inventory Turnover | 44.98 | 34.08 | ||||
| Quick Ratio | 0.26 | 0.47 | 0.27 | 0.29 | 0.87 | 0.70 |
| Current Ratio | 0.27 | 0.53 | 0.43 | 0.50 | 0.94 | 0.91 |
| Return on Equity (ROE) | -78.11% | -60.29% | -34.64% | -70.24% | ||
| Return on Assets (ROA) | -19.31% | -32.65% | -15.88% | -22.59% | -22.50% | -33.84% |
| Return on Capital Employed (ROCE) | 8.80% | 114.60% | -341.50% | -96.40% | -67.80% | -83.30% |
| Earnings Yield | -482.90% | -93.26% | -39.79% | -42.60% | -45.98% | -3.77% |
| FCF Yield | -7.17% | -28.34% | 5.34% | -7.71% | -8.76% | -87.11% |
| Buyback Yield / Dilution | -247.36% | -154.27% | -18.71% | -23.17% | -25.65% | -45.24% |