← XChange TEC.INC
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Net Income From Continuing Operations | — | — | — | — | ($495.1m) | ($25.1m) | ($613.2m) | ($748k) | $659.1m | |
| Net loss from continuing operations | — | — | — | ($130.6m) | ($495.1m) | ($27.3m) | ($613.2m) | ($748.4m) | — | |
| Net loss | ($499.9m) | ($498.3m) | ($1.5b) | ($569.2m) | — | ($71.3m) | ($226.8m) | ($748.4m) | — | |
| Net Income (Loss) Attributable to Parent | — | ($69.7m) |
($225.9m)
-224.04%
|
($88.3m)
+60.89%
|
$115.3m
+230.50%
|
($71.3m)
-161.86%
|
($226.8m)
-218.06%
|
($105.1m)
+53.65%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | — | ($112.7m) |
($225.9m)
-100.40%
|
($88.3m)
+60.89%
|
$820.0m
+1028.31%
|
($9.8m)
-101.19%
|
($32.3m)
-230.69%
|
($105.1m)
-225.26%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | ($69.7m) | ($225.9m) | ($88.3m) | $115.3m | ($9.8m) | ($32.3m) | ($105.1m) | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | ($13k) | ($7k) | ($4k) | ($6k) | — | — | — | — | |
| Depreciation and amortization | $152.3m | $30.1m | $38.7m | $12.3m | $3.9m | $0 | $8k | $396 | $396 | |
| Amortization of Intangible Assets | — | — | $75.7m | $58.9m | $26.4m | — | — | — | — | |
| Depreciation | $152.3m | $214.2m | $187.1m | $20.0m | $1.0m | $0 | $54k | $396 | $396 | |
| Right-of-use assets depreciation and amortization | — | — | — | — | — | — | $207k | $396k | — | |
| Depreciation Amortization Depletion | — | — | — | — | $0 | $0 | $261k | $396 | $396 | |
| Deferred Income Tax Expense (Benefit) | — | — | — | — | — | — | $73k | — | $0 | |
| Deferred Income Tax | — | — | — | — | $0 | $0 | $511k | $0 | $0 | |
| Deferred Tax | — | — | — | — | $0 | $0 | $511k | $0 | $0 | |
| Share-based Payment Arrangement, Noncash Expense | — | $1.1m | $2.4m | $2.5m | $1.4m | $655k | $357k | — | $0 | |
| Share-based Payment Arrangement, Expense | — | $0 | $0 | $15.8m | $9.8m | $4.8m | $2.5m | — | $0 | |
| Share-based compensation | $2.3m | $8.2m | $16.0m | $15.8m | $9.8m | $4.8m | $2.5m | — | $0 | |
| Goodwill, Impairment Loss | — | — | — | — | — | — | $81.9m | $96.4m | ($644.2m) | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | — | — | — | $100.2m | — | — | — | — | |
| Impairment loss of goodwill | — | — | — | — | — | — | $575.0m | $686.0m | — | |
| Asset Impairment Charge | — | — | — | — | $0 | $0 | $575.0m | $686k | ($644.2m) | |
| Nonoperating Income (Expense) | — | — | — | — | — | $1k | ($3.4m) | ($3.9m) | — | |
| Changes in operating assets and liabilities: | ||||||||||
| Change In Working Capital | — | — | — | — | $53.3m | ($1.9m) | $1.5m | $13k | ($8.9m) | |
| Increase (Decrease) in Accounts Receivable | — | $117k | $95k | ($244k) | $55k | — | $2.4m | ($1.8m) | ($14.1m) | |
| Accounts receivable, net | ($160k) | ($831k) | ($644k) | $1.6m | ($391k) | — | ($16.9m) | $13.0m | ($14.1m) | |
| Change In Receivables | — | — | — | — | $0 | $0 | ($16.9m) | $13k | ($14.1m) | |
| Changes In Account Receivables | — | — | — | — | $0 | $0 | ($16.9m) | $13k | ($14.1m) | |
| Increase (Decrease) in Accounts Payable | — | — | — | — | — | $25k | $3.4m | ($1.1m) | $12.3m | |
| Accounts payable | $3.5m | $16.3m | $115.2m | $25.8m | $90.7m | $182k | $24.2m | ($7.5m) | $12.3m | |
| Change In Payables And Accrued Expense | — | — | — | — | $53.9m | ($1.6m) | $24.4m | ($7k) | $12.3m | |
| Accrued expenses and other current liabilities | $36.2m | ($4.0m) | $269.5m | $51.2m | $42.7m | ($1.1m) | $388k | $256k | — | |
| Change In Accrued Expense | — | — | — | — | $53.9m | ($2.2m) | $388k | $256 | $20k | |
| Gain (Loss) on Disposition of Other Assets | — | — | — | — | — | — | ($15k) | — | — | |
| Other current assets | ($21.5m) | $2.0m | $44.8m | $23.5m | $59.2m | ($1.3m) | ($6.2m) | $6.8m | ($5.9m) | |
| Change In Other Current Assets | — | — | — | — | $6.5m | ($282k) | ($6.2m) | $7k | ($5.9m) | |
| Change In Other Current Liabilities | — | — | — | — | $0 | $0 | ($198k) | ($384) | ($384) | |
| Other Operating Income (Expense), Net | — | $340k | $2.3m | ($2.9m) | ($1.1m) | $409k | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | ($117.0m) |
($12.3m)
+89.46%
|
$8.1m
+165.47%
|
($17.0m)
-310.66%
|
($5.6m)
+67.30%
|
($5.5m)
+1.81%
|
($1.4m)
+74.51%
|
($1.6m)
-17.95%
|
($565k)
+65.63%
|
|
| Cash flows from investing activities: | ||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | ($69.1m) | ($19.4m) | $0 | — | — | — | $490k | |
| Payments to Acquire Property, Plant, and Equipment | — | $47.8m | $14.6m | $2k | — | — | — | — | — | |
| Gain (Loss) on Sale of Investments | — | — | — | — | — | — | ($55k) | — | — | |
| Net cash provided by (used in) investing activities from continuing operations | — | — | — | ($6.5m) | — | — | $10.2m | ($490k) | ($113k) | |
| Net cash used in investing activities from discontinued operations | — | — | — | ($2k) | ($11.5m) | — | — | — | ($113k) | |
| Net Cash Provided by (Used in) Investing Activities | ($674.3m) | ($49.2m) | ($20.4m) | ($1.0m) | ($1.6m) | — | $1.4m | ($69k) | ($113k) | |
| Cash flows from financing activities: | ||||||||||
| Gain (Loss) on Extinguishment of Debt | — | — | — | ($6.5m) | — | — | — | — | — | |
| Proceeds from borrowings from related parties | — | — | — | — | $4.7m | — | — | $1.1m | — | |
| Short-term debts settled by ordinary shares | — | — | — | — | ($6.5m) | — | ($25.3m) | — | — | |
| Proceeds from short-term debts | — | — | — | — | $6.5m | $37.9m | $18.9m | — | — | |
| Issuance Of Debt | — | — | — | — | $30.6m | $37.9m | $18.9m | $77k | $77k | |
| Long Term Debt Issuance | — | — | — | — | $24.1m | $0 | $0 | $77k | $77k | |
| Net Issuance Payments Of Debt | — | — | — | — | $30.6m | $37.9m | $8.7m | $18k | ($4.3m) | |
| Net Short Term Debt Issuance | — | — | — | — | $6.5m | $37.9m | $8.7m | ($59k) | ($4.4m) | |
| Short Term Debt Issuance | — | — | — | — | $6.5m | $37.9m | $18.9m | $0 | ($64.6m) | |
| Long Term Debt Payments | — | — | — | ($37.1m) | $0 | $0 | — | — | — | |
| Repayment Of Debt | — | — | — | — | $0 | $0 | ($10.3m) | ($59k) | $60.2m | |
| Short Term Debt Payments | — | — | — | — | $0 | $0 | ($10.3m) | ($59k) | $60.2m | |
| Issuance Of Capital Stock | — | — | — | $0 | $0 | — | — | — | — | |
| Repurchase Of Capital Stock | — | — | — | $0 | $0 | — | — | — | — | |
| Proceeds from Issuance of Common Stock | — | — | — | — | — | — | ($27.3m) | — | — | |
| Common Stock Issuance | — | — | — | $0 | $0 | — | — | — | — | |
| Common Stock Payments | — | — | — | $0 | $0 | — | — | — | — | |
| Net cash provided by financing activities from continuing operations | — | — | — | $115.8m |
$30.6m
-73.56%
|
$37.9m
+23.75%
|
$8.7m
-77.12%
|
$18.8m
+116.74%
|
($4.3m)
-122.95%
|
|
| Net cash provided by financing activities from discontinued operations | — | — | — | ($14.2m) |
($1.3m)
+90.79%
|
— | — | — | ($4.3m) | |
| Net Cash Provided by (Used in) Financing Activities | $539.5m |
$79.7m
-85.23%
|
($18.0m)
-122.56%
|
$15.8m
+187.71%
|
$4.1m
-73.87%
|
$5.2m
+25.97%
|
$1.2m
-76.20%
|
$2.6m
+113.68%
|
($4.3m)
-263.37%
|
|
| Net (decrease) increase in cash and cash equivalents and restricted cash | ($248.4m) | $132.1m | ($219.0m) | ($12.5m) | ($16.4m) | ($1.8m) | $12.0m | $2.8m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $18.5m | ($30.4m) | ($1.7m) | ($2.3m) | ($243k) | $1.7m | $392k | $4.9m | |
| Beginning Cash Position | — | — | — | — | $19.3m | $2.9m | $1.1m | $13k | $9.9m | |
| Cash, cash equivalents and restricted cash at the beginning of the year | — | — | — | $19.3m | $2.9m | $1.1m | $13.1m | $15.9m | — | |
| Less: Cash, cash equivalents and restricted cash from discontinued operations at the end of the year | — | — | — | ($2.3m) | ($741k) | $815k | — | — | — | |
| Cash, cash equivalents and restricted cash from continuing operations at the end of the year | $118.8m | $250.8m | $31.8m | $19.3m | $2.9m | $360k | $13.1m | $15.9m | — | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | $416k | ($535k) | $1.7m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $35.1m | $4.7m | $3.0m | $405k | $49k | $1.9m | $2.2m | $4.9m | |
| Effect of foreign exchange rate changes | $3.5m | $2.1m | ($295k) | $2.0m | $5.4m | $203k | $2.9m | ($3.8m) | — | |
| Effect Of Exchange Rate Changes | — | — | — | — | $5.4m | $203k | $2.9m | ($4k) | $1.7m | |
| Additional Supplementary Disclosures | ||||||||||
| Additional Supplementary Disclosures | ||||||||||
| Less: net (loss) income from discontinued operations | — | — | — | ($438.6m) | $1.3b | ($44.0m) | $386.3m | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | ($3.7m) | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | ($3.7m) | ($87.4m) | ($105.1m) | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | ($6.0m) | $55.1m | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | ($6.0m) | $55.1m | — | — | |
| Income Tax Expense (Benefit) | — | $9k | $2k | $5k | $3k | — | $78k | $6k | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | $3.7m | $3.9m | — | |
| Accretion of interest expense | $10.7m | $15.8m | $214k | $2.0m | $1.2m | — | $24.0m | $27.5m | — | |
| Additional Financial Items | ||||||||||
| Accretion Expense | — | $2.2m | $31k | $309k | $172k | — | $3.4m | $3.9m | — | |
| Asset Acquisition Contingent Consideration Liability | — | — | — | — | — | — | $495.0m | $495.0m | — | |
| Deconsolidation, Gain (Loss), Amount | — | — | — | — | $218.5m | — | — | — | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | ($64k) | ($9k) | ($38k) | — | — | $329k | ($70k) | — | |
| General and Administrative Expense | — | $15.1m | $15.1m | $33.7m | $8.7m | $3.5m | $2.3m | $4.6m | — | |
| Goodwill | — | — | — | — | — | — | $101.1m | $3.3m | ($644.2m) | |
| Operating Costs and Expenses | — | $1.3t | $1.2t | $949.7b | $711.0m | $3.5m | — | — | — | |
| Operating Expenses | — | — | — | — | — | — | $85.8m | $102.3m | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | $152.4m | $162.8m | $145.8m | $79.5m | — | — | — | — | |
| (Recovery) allowance of expected credit loss | — | — | — | $150.2m | — | — | ($86k) | $10.2m | — | |
| Advances to suppliers | ($2.4m) | $4.9m | $48.0m | $9.6m | ($4.7m) | — | $420k | $418k | — | |
| Amounts due to related parties | $6.9m | ($29.1m) | $3.5m | ($6.6m) | $97k | $429k | ($171k) | — | — | |
| Lease liabilities | — | — | — | — | — | — | ($198k) | ($384k) | — | |
| Repayments of notes payable | — | — | — | — | — | — | ($6.1m) | ($59.1m) | — | |
| Notes payable settled by ordinary shares | — | — | — | — | — | — | ($191.9m) | ($355.9m) | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | $30.6m | $37.9m | $8.7m | $19k | ($4.3m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | $0 | $0 | $10.2m | ($490) | ($113k) | |
| Cash From Discontinued Financing Activities | — | — | — | — | $3.4m |
$0
-100.00%
|
$0 | $0 | $0 | |
| Cash From Discontinued Investing Activities | — | — | — | — | ($11.5m) | $0 | $0 | $0 | $0 | |
| Change In Account Payable | — | — | — | — | $0 | $182k | $24.2m | ($7k) | $12.3m | |
| Change In Other Working Capital | — | — | — | ($35.0m) | ($66.6m) | — | — | $17 | $17 | |
| Change In Payable | — | — | — | — | $90.8m | $611k | $24.0m | ($7k) | $12.3m | |
| Change In Prepaid Assets | — | — | — | — | ($7.1m) | $0 | $420k | $418 | ($1.6m) | |
| Changes In Cash | — | — | — | — | ($21.7m) | ($2.0m) | $9.1m | $7k | ($5.0m) | |
| End Cash Position | — | — | — | — | $2.9m | $1.1m | $13.1m | $16k | $4.9m | |
| Financing Cash Flow | — | — | — | — | $34.1m |
$37.9m
+11.26%
|
$8.7m
-77.12%
|
$19k
-99.78%
|
($4.3m)
-23045.40%
|
|
| Free Cash Flow | — | — | — | — | ($44.3m) | ($39.9m) | ($9.8m) | ($12k) | ($565k) | |
| Gain Loss On Sale Of Business | — | — | — | $0 | ($1.6b) | — | — | — | — | |
| Gain Loss On Sale Of PPE | — | — | — | — | $0 | $0 | $105k | $0 | $0 | |
| Investing Cash Flow | — | — | — | — | ($11.5m) | $0 | $10.2m | ($490) | ($113k) | |
| Net Business Purchase And Sale | — | — | — | — | $0 | $0 | $10.9m | ($631) | $630k | |
| Net PPE Purchase And Sale | — | — | — | — | $0 | $0 | $106k | $0 | $6k | |
| Operating Gains Losses | — | — | — | $72.1m | ($1.5b) | — | $490k | — | $490k | |
| Other Non Cash Items | — | — | — | $2.0m | $424.9m | — | $24.0m | $28k | — | |
| Provisionand Write Offof Assets | — | — | — | — | $0 | $0 | ($86k) | $10k | $230k | |
| Purchase Of Business | — | — | — | — | ($11.5m) | $0 | $0 | ($631) | $1.1m | |
| Purchase Of PPE | — | $47.8m | $14.6m | ($2k) | $0 | — | — | — | — | |
| Sale Of Business | — | — | — | — | $0 | $0 | $10.9m | $0 | ($476k) | |
| Stock Based Compensation | — | — | — | — | $9.8m | $4.8m | $2.5m | $0 | $0 | |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax | — | — | — | — | — | — | $55.4m | — | — | |
| Purchase of short-term investment | — | — | — | — | — | — | ($800k) | ($8.8m) | — | |
| Net Investment Purchase And Sale | — | — | — | — | $0 | $0 | ($800k) | $141 | ($750k) | |
| Purchase Of Investment | — | — | — | — | $0 | $0 | ($800k) | ($9k) | ($4.0m) | |
| Sale Of Investment | — | — | — | — | — | $0 | $0 | $9k | $3.3m | |
| Supplemental disclosure of cash flow information: | ||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | ($16.4m) | ($1.8m) | $12.0m | $3k | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | $11.1m | $2.4m | $158k | $0 | $0 | — | — | — | |
| Income Taxes Paid, Net | ($1.2m) | ($57k) | ($90k) | ($3k) | ($4k) | $0 | ($13k) | $33k | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.