← Here Group Ltd
| Annual Trend | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| ASSETS | |||||
| Current assets: | |||||
| Cash and Cash Equivalents, at Carrying Value | — | $105.4m | $107.3m | $115.9m | |
| Prepaid Expense and Other Assets, Current | — | $18.9m | $37.9m | $28.3m | |
| Cash, Cash Equivalents, and Short-term Investments | $399.1m | $625.7m | $1.0b | $873.0m | |
| Short-term Investments | $132.6m | $22.9m | $33.9m | $26.5m | |
| Cash and cash equivalents | $266.4m | $764.3m | $779.9m | $830.2m | |
| Accounts receivable, net | $1.9m | $12.3m | $16.7m | $45.9m | |
| Prepayments and other current assets | $115.6m | $136.7m | $275.5m | $202.9m | |
| Accrued Interest Receivable | $0 | $3.3m | — | — | |
| Allowance For Doubtful Accounts Receivable | ($13k) | ($59k) | ($97k) | — | |
| Gross Accounts Receivable | $1.9m | $12.3m | $16.8m | — | |
| Notes Receivable | — | $0 | $58.2m | — | |
| Other Current Assets | $19k | $5.6m | $4.3m | — | |
| Other Receivables | $9.5m | $22.5m | $106.4m | — | |
| Other Short Term Investments | $132.6m | $166.3m | $246.2m | — | |
| Prepaid Assets | $106.1m | $108.5m | $106.7m | — | |
| Inventory, Net | — | $0 | $873k | $3.0m | |
| Accounts Receivable, after Allowance for Credit Loss | — | $12.3m | $16.7m | — | |
| Assets, Current | — | $152.9m | $182.9m | $183.3m | |
| Total current assets | $564.0m | $1.1b | $1.3b | $1.3b | |
| Long-term investments | — | — | $9.0m | $59.1m | |
| Property, Plant and Equipment, Net | $5.2m | $1.0m | $904k | $1.6m | |
| Goodwill | — | — | $7.4m | $26.2m | |
| Intangible Assets, Net (Excluding Goodwill) | — | — | — | $9.2m | |
| Intangible assets, net | — | — | — | $65.9m | |
| Operating Lease, Right-of-Use Asset | — | $11.6m | $8.1m | $2.8m | |
| Other Assets, Noncurrent | — | $2.9m | $2.9m | $695k | |
| Operating lease right-of-use assets | $23.9m | $84.0m | $58.9m | $19.9m | |
| Additional Financial Items | |||||
| Accounts Receivable, after Allowance for Credit Loss, Current | — | $1.7m | $2.3m | $6.4m | |
| Restricted cash | — | $0 | $160k | $21.1m | |
| Amounts due from related parties | $47.4m | $150.8m | $4.5m | $1.6m | |
| Deferred tax assets | — | $2.1m | $847k | — | |
| Other non-current assets | $10.4m | $21.3m | $21.4m | $5.0m | |
| Accrued expenses and other current liabilities (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB151,918 and RMB83,819 as of June 30,2024 and 2025, respectively) | $108.6m | $171.2m | $190.5m | $151.8m | |
| Income tax payable (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB9,642 and RMB21,992 as of June 30, 2024 and 2025, respectively) | $7.3m | $8.8m | $20.4m | $31.4m | |
| Contract liabilities, current portion (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB380,548 and RMB235,376 as of June 30, 2024 and 2025, respectively) | $384.7m | $517.2m | $385.2m | $238.1m | |
| Advance from customers (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB159,806 and RMB109,013 as of June 30, 2024 and 2025, respectively) | $151.1m | $144.4m | $162.3m | $113.1m | |
| Operating lease liabilities, current portion (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB23,782 and RMB6,400 as of June 30, 2024 and 2025, respectively) | $16.3m | $41.1m | $49.1m | $16.4m | |
| Contract liabilities, non-current portion (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB11,365 and RMB35,485 as of June 30, 2024 and 2025, respectively) | $8.9m | $7k | $11.4m | $35.5m | |
| Operating lease liabilities, non-current portion (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB6,317 and RMB2,076 as of June 30, 2024 and 2025, respectively) | $6.6m | $52.8m | $17.0m | $7.0m | |
| Ordinary shares, value | $32k | $112k | $115k | $115k | |
| Accumulative deficit | ($861.2m) | ($969.7m) | ($584.2m) | ($225.4m) | |
| Non-controlling interests | — | $2.1m | — | $83.0m | |
| Accumulated Depreciation | ($5.5m) | ($4.4m) | ($8.8m) | — | |
| Buildings And Improvements | $23.9m | $84.0m | $58.9m | — | |
| Capital Lease Obligations | $22.9m | $93.9m | $66.1m | — | |
| Current Accrued Expenses | $95.1m | $151.6m | $148.5m | — | |
| Current Capital Lease Obligation | $16.3m | $41.1m | $49.1m | — | |
| Current Debt And Capital Lease Obligation | $16.3m | $41.1m | $49.1m | — | |
| Current Deferred Liabilities | $535.8m | $661.6m | $547.5m | — | |
| Current Provisions | $615k | $513k | $19.3m | — | |
| Duefrom Related Parties Current | $47.4m | $29.1m | $4.5m | — | |
| Gross PPE | $34.6m | $95.8m | $74.2m | — | |
| Income Tax Payable | $7.3m | $8.8m | $20.4m | — | |
| Invested Capital | ($789.3m) | $223.7m | $516.5m | — | |
| Investmentin Financial Assets | — | $0 | $6.0m | — | |
| Investments And Advances | — | $0 | $9.0m | — | |
| Leases | $5.9m | $5.4m | $8.0m | — | |
| Long Term Capital Lease Obligation | $6.6m | $52.8m | $17.0m | — | |
| Long Term Equity Investment | — | $0 | $3.0m | — | |
| Machinery Furniture Equipment | $4.8m | $6.4m | $7.2m | — | |
| Net PPE | $29.1m | $91.4m | $65.5m | — | |
| Net Tangible Assets | ($789.3m) | $223.7m | $516.5m | — | |
| Non Current Deferred Assets | $0 | $2.1m | $847k | — | |
| Non Current Deferred Liabilities | $8.9m | $7k | $23.0m | — | |
| Non Current Deferred Taxes Assets | $0 | $2.1m | $847k | — | |
| Ordinary Shares Number | $165.2m | $165.6m | $153.6m | — | |
| Other Current Liabilities | $331k | $409k | $1.5m | — | |
| Other Equity Adjustments | $1.8m | $22.2m | $17.3m | — | |
| Preferred Securities Outside Stock Equity | $664.2m | $0 | — | — | |
| Properties | $0 | $0 | $0 | — | |
| Share Issued | $165.2m | $165.6m | $169.5m | — | |
| Tangible Book Value | ($789.3m) | $223.7m | $516.5m | — | |
| Working Capital | ($149.3m) | $163.9m | $459.8m | — | |
| Accrued Liabilities, Current | — | $23.6m | $26.2m | $21.2m | |
| Total non-current assets | $39.5m | $114.8m | $96.7m | $348.8m | |
| Total non-current liabilities | $15.4m | $52.8m | $40.0m | $114.5m | |
| TOTAL QUANTASING GROUP LIMITED SHAREHOLDERS’ EQUITY | ($789.3m) | $223.7m | $516.5m | $809.0m | |
| TOTAL SHAREHOLDERS’ EQUITY | ($789.3m) | $225.8m | $516.5m | $892.0m | |
| Total Capitalization | ($789.3m) | $223.7m | $516.5m | — | |
| Total Debt | $22.9m | $93.9m | $66.1m | — | |
| Total Tax Payable | $19.9m | $27.4m | $41.6m | — | |
| Assets | — | $168.7m | $196.2m | $231.9m | |
| TOTAL ASSETS | $603.5m | $1.2b | $1.4b | $1.7b | |
| LIABILITIES AND EQUITY | |||||
| Current liabilities: | |||||
| Operating Lease, Liability, Current | — | $5.7m | $6.8m | $2.3m | |
| Accounts Payable, Current | $45.2m | $8.6m | $8.5m | $6.8m | |
| Operating Lease, Liability, Noncurrent | — | $7.3m | $2.3m | $979k | |
| Accounts payables (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB61,888 and RMB29,390 as of June 30, 2024 and 2025, respectively) | $45.2m | $62.1m | $62.1m | $48.7m | |
| Current Deferred Revenue | $535.8m | $661.6m | $547.5m | — | |
| Payables And Accrued Expenses | $160.1m | $241.1m | $252.2m | — | |
| Liabilities, Current | — | $130.3m | $119.7m | $85.7m | |
| Total current liabilities | $713.2m | $944.8m | $869.6m | $614.0m | |
| Deferred tax liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiary of nil and RMB29 as of June 30, 2024 and 2025, respectively) | — | — | $11.6m | $72.0m | |
| Long Term Debt And Capital Lease Obligation | $6.6m | $52.8m | $17.0m | — | |
| Non Current Deferred Taxes Liabilities | $0 | $0 | $11.6m | — | |
| Liabilities | — | $137.6m | $125.2m | $101.7m | |
| TOTAL LIABILITIES | $728.7m | $997.6m | $909.5m | $728.6m | |
| Stockholders’ equity: | |||||
| Additional Paid in Capital | $69.9m | $161.5m | $164.1m | $148.9m | |
| Retained Earnings (Accumulated Deficit) | ($861.2m) | ($133.7m) | ($80.4m) | ($31.5m) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | — | $3.1m | $2.4m | $2.3m | |
| Treasury stock | — | $0 | ($109.3m) | ($49.1m) | |
| Accumulated other comprehensive income | $1.8m | $22.2m | $17.3m | $16.5m | |
| Capital Stock | $32k | $112k | $115k | — | |
| Gains Losses Not Affecting Retained Earnings | $1.8m | $22.2m | $17.3m | — | |
| Stockholders' Equity Attributable to Parent | — | $30.9m | $71.1m | $112.9m | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | $294k | — | $11.6m | |
| Minority Interest | $0 | $2.1m | $0 | — | |
| Total Equity Gross Minority Interest | ($789.3m) | $225.8m | $516.5m | — | |
| Total Non Current Liabilities Net Minority Interest | $679.6m | $52.8m | $40.0m | — | |
| Liabilities and Equity | — | $168.7m | $196.2m | $231.9m | |
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND SHAREHOLDERS’ EQUITY | $603.5m | $1.2b | $1.4b | $1.7b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.