Income Statement Flowing Cloud Technology Ltd

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6610

KYG3670B1196

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04-21	Flowing Cloud Technology Ltd Announces Change of Joint Company Secretary, Effective April 21, 2026	CI
03-25	Flowing Cloud Technology's Loss Balloons in 2025 as Revenue Slumps 21%	MT

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Published financial data: FLOWING CLOUD TECHNOLOGY LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	595M	1.07B	1.24B	995M	784M
Total Revenues	595M	1.07B	1.24B	995M	784M
Cost of Goods Sold, Total	420M	692M	824M	795M	632M
Gross Profit	176M	374M	421M	200M	152M
Selling General & Admin Expenses, Total	35.39M	46.79M	68.89M	139M	167M
Provision for Bad Debts	-864K	4.05M	30.18M	17.43M	117M
R&D Expenses	21.7M	48.47M	51.18M	84.29M	230M
Other Operating Expenses, Total	56.23M	99.31M	150M	241M	514M
Operating Income	119M	275M	270M	-41.13M	-362M
Interest Expense, Total	-2.36M	-3.26M	-4.83M	-6.41M	-3.9M
Interest And Investment Income	828K	709K	2.5M	-	-
Net Interest Expenses	-1.53M	-2.55M	-2.32M	-6.41M	-3.9M
Currency Exchange Gains (Loss)	-5K	-4.53M	449K	910K	-583K
Other Non Operating Income (Expenses)	-30.78M	-20.47M	3.07M	1.84M	1.04M
EBT, Excl. Unusual Items	86.97M	247M	272M	-44.79M	-365M
Gain (Loss) On Sale Of Investments	-	-	-	-	-133K
Gain (Loss) On Sale Of Assets	-	-	-	-24K	-
Other Unusual Items	169K	-	-	-29K	-
EBT, Incl. Unusual Items	87.14M	247M	272M	-44.85M	-366M
Income Tax Expense	15.42M	10.55M	7.74M	-1.14M	50K
Earnings From Continuing Operations	71.72M	237M	264M	-43.7M	-366M
Net Income to Company	71.72M	237M	264M	-43.7M	-366M
Minority Interest	-1.52M	153K	3K	1K	-1.46M
Net Income - (IS)	70.2M	237M	264M	-43.7M	-367M
Net Income to Common Incl Extra Items	70.2M	237M	264M	-43.7M	-367M
Net Income to Common Excl. Extra Items	70.2M	237M	264M	-43.7M	-367M
Per Share Items
Net EPS - Basic	1.04	2.97	2.92	-0.48	-3.43
Basic EPS - Continuing Operations	1.04	2.97	2.92	-0.48	-3.43
Basic Weighted Average Shares Outstanding	67.51M	79.71M	90.49M	90.33M	107M
Net EPS - Diluted	1.04	2.96	2.92	-0.48	-3.43
Diluted EPS - Continuing Operations	1.04	2.96	2.92	-0.48	-3.43
Diluted Weighted Average Shares Outstanding	67.51M	79.72M	90.49M	90.33M	107M
Normalized Basic EPS	0.78	1.94	1.88	-0.31	-2.15
Normalized Diluted EPS	0.78	1.94	1.88	-0.31	-2.15
Supplemental Items
EBITDA	131M	292M	293M	-20.79M	-338M
EBITA	130M	290M	290M	-24.78M	-341M
EBIT	119M	275M	270M	-41.13M	-362M
EBITDAR	131M	292M	293M	-20.48M	-336M
Effective Tax Rate - (Ratio)	17.7	4.27	2.85	2.55	-0.01
Current Domestic Taxes	15.67M	11.47M	12.6M	732K	50K
Total Current Taxes	15.67M	11.47M	12.6M	732K	50K
Deferred Domestic Taxes	-244K	-607K	-6.48M	-2.1M	-
Total Deferred Taxes	-244K	-607K	-6.48M	-2.1M	-
Normalized Net Income	52.84M	155M	170M	-27.99M	-230M
Interest on Long-Term Debt	293K	354K	159K	50K	115K
Supplemental Operating Expense Items
Marketing Expenses	3.21M	-	-	-	-
Selling and Marketing Expenses	13.68M	13.6M	19.31M	88.15M	132M
General and Administrative Expenses	21.21M	32.64M	49.12M	50.98M	33.47M
Research And Development Expense From Footnotes	21.7M	48.47M	51.18M	84.29M	230M
Net Rental Expense, Total	497K	552K	453K	309K	1.14M
Imputed Operating Lease Interest Expense	277K	252K	190K	169K	343K
Imputed Operating Lease Depreciation	220K	300K	263K	140K	792K
Stock-Based Comp., Other (Total)	-	-	10.04M	13.06M	5.1M
Total Stock-Based Compensation	-	-	10.04M	13.06M	5.1M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	214M	405M	333M	162M	62.02M
Short Term Investments	-	3.46M	3.24M	-	-
Total Cash And Short Term Investments	214M	408M	336M	162M	62.02M
Accounts Receivable, Total	162M	376M	562M	642M	695M
Other Receivables	235K	186K	275K	5.9M	28.23M
Notes Receivable	-	-	-	-	-
Total Receivables	162M	376M	562M	648M	723M
Inventory	-	-	-	-	-
Prepaid Expenses	13.97M	31.13M	14.75M	9.01M	4.2M
Other Current Assets, Total	153M	464M	580M	749M	633M
Total Current Assets	543M	1.28B	1.49B	1.57B	1.42B
Gross Property Plant And Equipment	12.53M	15.45M	27.41M	22.32M	23.12M
Accumulated Depreciation	-3.9M	-7.4M	-14.65M	-15.13M	-16.62M
Net Property Plant And Equipment	8.63M	8.04M	12.76M	7.18M	6.5M
Long-term Investments	-	191M	112M	84.88M	26.28M
Other Intangibles, Total	29.27M	47.93M	95M	99.68M	109M
Deferred Tax Assets Long-Term	1.32M	1.93M	8.41M	10.51M	10.51M
Deferred Charges Long-Term	1M	386K	-	-	-
Total Assets	584M	1.53B	1.72B	1.77B	1.57B
Liabilities
Accounts Payable, Total	44.26M	72.43M	69.73M	191M	263M
Accrued Expenses, Total	24.73M	61.97M	67.59M	60.09M	63.55M
Short-term Borrowings	22.3M	80M	95M	88M	113M
Current Portion of Leases	3.02M	4.37M	2.5M	1.69M	2.04M
Current Income Taxes Payable	12.45M	8.82M	9.51M	1.2M	411K
Unearned Revenue Current, Total	21.09M	67.71M	13.06M	29.06M	7.32M
Other Current Liabilities	6.34M	5.22M	10.76M	2.65M	7.12M
Total Current Liabilities	134M	301M	268M	374M	457M
Long-Term Leases	2.74M	1.52M	900K	-	2.05M
Other Non Current Liabilities	-	-	-	14M	6.79M
Total Liabilities	137M	302M	269M	388M	466M
Common Stock, Total	7K	128K	128K	128K	185K
Additional Paid In Capital	-	521M	521M	521M	652M
Retained Earnings	235M	472M	736M	694M	335M
Treasury Stock	-	-	-4.58M	-5.21M	-629K
Comprehensive Income and Other	209M	230M	197M	170M	118M
Total Common Equity	444M	1.22B	1.45B	1.38B	1.1B
Minority Interest	2.89M	2.73M	2.73M	2.73M	4.44M
Total Equity	447M	1.23B	1.45B	1.38B	1.11B
Total Liabilities And Equity	584M	1.53B	1.72B	1.77B	1.57B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	76.92M	90.5M	90.37M	90.31M	129M
ECS Total Common Shares Outstanding	76.92M	90.5M	90.37M	90.31M	129M
Book Value / Share	5.77	13.51	16.04	15.28	8.57
Tangible Book Value	414M	1.17B	1.35B	1.28B	995M
Tangible Book Value Per Share	5.39	12.98	14.99	14.18	7.72
Total Debt	28.06M	85.89M	98.4M	89.69M	117M
Net Debt	-186M	-322M	-238M	-72.73M	55.07M
Debt Equivalent Oper. Leases	3.98M	4.42M	3.62M	2.47M	9.08M
Minority Interest, Total (Incl. Fin. Div)	2.89M	2.73M	2.73M	2.73M	4.44M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	-	-	-	-	-
Machinery, Total	3.06M	4.2M	13.58M	13.98M	14.51M
Full Time Employees	144	120	142	124	99
Accumulated Allowance for Doubtful Accounts (Supple)	7M	11.05M	41.23M	58.68M	175M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	70.2M	237M	264M	-43.7M	-367M
Depreciation & Amortization - CF	3.32M	4.69M	7.25M	9.14M	8.05M
Amortization of Goodwill and Intangible Assets - (CF)	10.82M	15.8M	19.54M	16.35M	20.54M
Depreciation & Amortization, Total	14.14M	20.5M	26.79M	25.5M	28.59M
Amortization of Deferred Charges, Total - (CF)	16K	2.73M	15.72M	17.52M	35.83M
(Gain) Loss From Sale Of Asset	-	-	-	24K	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	133K
Stock-Based Compensation (CF)	-	-	10.04M	13.06M	5.1M
Provision and Write-off of Bad Debts	-864K	4.05M	30.18M	17.43M	117M
Other Operating Activities, Total	21.36M	2.68M	-5.37M	-7.98M	3.91M
Change In Accounts Receivable	-11.12M	-222M	-215M	-257M	-76.76M
Change In Inventories	4.3M	-	-	-	-
Change In Accounts Payable	10.17M	70.72M	-169K	103M	74.93M
Change in Unearned Revenues	-23.34M	46.62M	-54.65M	15.94M	-21.73M
Change in Other Net Operating Assets	-60.37M	-317M	-124M	-1.05M	376K
Cash from Operations	24.48M	-155M	-52.61M	-118M	-199M
Capital Expenditure	-2.6M	-1.29M	-9.2M	-663K	-533K
Sale of Property, Plant, and Equipment	-	-	-	189K	-
Sale (Purchase) of Intangible assets	-15.13M	-53.78M	-50.22M	-38.22M	-54.2M
Investment in Marketable and Equity Securities, Total	0	-170M	36.68M	-10M	9.84M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	828K	709K	3.95M	489K	10K
Cash from Investing	-16.9M	-224M	-18.8M	-48.2M	-44.89M
Short Term Debt Issued, Total	24.7M	105M	105M	110M	135M
Total Debt Issued	24.7M	105M	105M	110M	135M
Short Term Debt Repaid, Total	-41.07M	-47.3M	-90M	-117M	-110M
Long-Term Debt Repaid, Total	-3.37M	-2.84M	-5.08M	-4.85M	-22.54M
Total Debt Repaid	-44.44M	-50.14M	-95.08M	-122M	-133M
Issuance of Common Stock	-	528M	-	-	135M
Repurchase of Common Stock	-	-	-4.58M	-628K	-
Issuance of Preferred Stock	125M	-	-	-	-
Other Financing Activities, Total	-3.06M	-8.34M	-4.89M	7.59M	7.25M
Cash from Financing	103M	574M	458K	-4.89M	145M
Foreign Exchange Rate Adjustments	-5K	-4.53M	-882K	453K	-1.1M
Net Change in Cash	110M	190M	-71.83M	-170M	-100M
Supplemental Items
Cash Interest Paid	1.84M	3.26M	4.83M	6.41M	3.9M
Cash Income Tax Paid (Refund)	18.18M	14.79M	13.52M	12M	2.08M
Levered Free Cash Flow	-63.98M	-297M	-172M	-148M	-110M
Unlevered Free Cash Flow	-62.51M	-295M	-169M	-144M	-108M
Change In Net Working Capital	133M	434M	332M	136M	-104M
Net Debt Issued / Repaid	-19.74M	54.86M	9.92M	-11.85M	2.46M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	15.31	16.27	10.41	-1.47	-13.53
Return on Total Capital	21.5	19.23	11.81	-1.7	-16.77
Return On Equity %	22.91	28.3	19.71	-3.08	-29.35
Return on Common Equity	22.58	28.41	19.75	-3.09	-29.55
Margin Analysis
Gross Profit Margin %	29.48	35.08	33.8	20.1	19.43
SG&A Margin	5.95	4.39	5.53	14.01	21.31
EBITDA Margin %	21.95	27.35	23.52	-2.09	-43.06
EBITA Margin %	21.86	27.25	23.3	-2.49	-43.56
EBIT Margin %	20.04	25.76	21.73	-4.13	-46.18
Income From Continuing Operations Margin %	12.05	22.19	21.2	-4.39	-46.64
Net Income Margin %	11.79	22.21	21.2	-4.39	-46.83
Net Avail. For Common Margin %	11.79	22.21	21.2	-4.39	-46.83
Normalized Net Income Margin	8.88	14.5	13.64	-2.81	-29.32
Levered Free Cash Flow Margin	-10.75	-27.82	-13.85	-14.91	-14.07
Unlevered Free Cash Flow Margin	-10.5	-27.63	-13.61	-14.51	-13.76
Asset Turnover
Asset Turnover	1.22	1.01	0.77	0.57	0.47
Fixed Assets Turnover	119.06	127.86	119.67	99.82	114.57
Receivables Turnover (Average Receivables)	3.95	3.97	2.66	1.65	1.17
Inventory Turnover (Average Inventory)	-	-	-	-	-
Short Term Liquidity
Current Ratio	4.05	4.25	5.57	4.2	3.11
Quick Ratio	2.8	2.61	3.35	2.17	1.72
Operating Cash Flow to Current Liabilities	0.18	-0.52	-0.2	-0.31	-0.44
Days Sales Outstanding (Average Receivables)	92.47	91.99	137.39	221.25	311.25
Days Outstanding Inventory (Average Inventory)	-	-	-	-	-
Average Days Payable Outstanding	-	30.77	31.49	59.95	131.27
Cash Conversion Cycle (Average Days)	-	-	-	-	-
Long Term Solvency
Total Debt/Equity	6.28	7.01	6.78	6.49	10.56
Total Debt / Total Capital	5.91	6.55	6.35	6.09	9.55
LT Debt/Equity	0.61	0.12	0.06	-	0.18
Long-Term Debt / Total Capital	0.58	0.12	0.06	-	0.17
Total Liabilities / Total Assets	23.47	19.77	15.63	21.89	29.58
EBIT / Interest Expense	50.61	84.34	56.02	-6.42	-92.75
EBITDA / Interest Expense	56.61	90.63	61.57	-2.44	-85.42
(EBITDA - Capex) / Interest Expense	55.5	90.24	59.66	-2.54	-85.56
Total Debt / EBITDA	0.21	0.29	0.33	-5.74	-0.35
Net Debt / EBITDA	-1.4	-1.09	-0.8	4.65	-0.17
Total Debt / (EBITDA - Capex)	0.21	0.29	0.34	-5.5	-0.35
Net Debt / (EBITDA - Capex)	-1.42	-1.1	-0.82	4.46	-0.16
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	75.81	79.1	16.75	-20.03	-21.24
Gross Profit, 1 Yr. Growth %	67.63	113.08	12.49	-52.45	-23.85
EBITDA, 1 Yr. Growth %	69.09	123.19	0.38	-107.1	1.52K
EBITA, 1 Yr. Growth %	68.68	123.28	-0.17	-108.54	1.28K
EBIT, 1 Yr. Growth %	67.05	130.28	-1.53	-115.21	780.1
Earnings From Cont. Operations, 1 Yr. Growth %	19.03	229.89	11.56	-116.56	736.61
Net Income, 1 Yr. Growth %	19.22	237.24	11.49	-116.56	739.98
Normalized Net Income, 1 Yr. Growth %	26.77	192.03	9.82	-116.49	721.1
Diluted EPS Before Extra, 1 Yr. Growth %	6.11	184.64	-1.46	-116.59	608.78
Accounts Receivable, 1 Yr. Growth %	15.81	132.01	49.53	14.31	8.28
Inventory, 1 Yr. Growth %	-	-	-	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	530.99	-6.8	58.58	-43.68	-9.55
Total Assets, 1 Yr. Growth %	49.39	161.77	12.69	2.86	-11.08
Tangible Book Value, 1 Yr. Growth %	172.27	183.47	15.3	-5.46	-22.27
Common Equity, 1 Yr. Growth %	149.19	175.57	18.55	-4.78	-20
Cash From Operations, 1 Yr. Growth %	-1.86	-735.06	-66.16	124.04	69.42
Capital Expenditures, 1 Yr. Growth %	580.63	-50.46	614.52	-92.8	-19.61
Levered Free Cash Flow, 1 Yr. Growth %	-211.06	363.58	-41.86	-17.16	-25.69
Unlevered Free Cash Flow, 1 Yr. Growth %	-206.29	371.25	-42.48	-18.02	-25.32
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	54.02	77.45	44.6	-3.38	-20.64
Gross Profit, 2 Yr. CAGR %	52.65	89	54.82	-26.87	-39.83
EBITDA, 2 Yr. CAGR %	54.66	94.26	49.68	-73.3	7.37
EBITA, 2 Yr. CAGR %	54.5	94.07	49.3	-70.79	8.51
EBIT, 2 Yr. CAGR %	54.42	96.14	50.58	-61.3	15.69
Earnings From Cont. Operations, 2 Yr. CAGR %	30.86	98.16	91.84	-57.02	17.7
Net Income, 2 Yr. CAGR %	29.47	100.51	93.9	-57.04	17.93
Normalized Net Income, 2 Yr. CAGR %	32.16	92.59	79.08	-57.45	16.35
Diluted EPS Before Extra, 2 Yr. CAGR %	22.09	73.79	67.47	-59.57	8.43
Accounts Receivable, 2 Yr. CAGR %	29.36	63.92	86.26	30.74	11.26
Net Property, Plant and Equip., 2 Yr. CAGR %	246.49	142.5	21.57	-5.5	-28.63
Total Assets, 2 Yr. CAGR %	63.99	97.75	71.75	7.66	-4.36
Tangible Book Value, 2 Yr. CAGR %	96.43	177.81	80.79	4.41	-14.27
Common Equity, 2 Yr. CAGR %	92.96	162.05	80.75	6.25	-12.72
Cash From Operations, 2 Yr. CAGR %	-2.25	149.66	46.59	-13.03	94.82
Capital Expenditures, 2 Yr. CAGR %	761.89	83.62	88.14	-28.25	-75.93
Levered Free Cash Flow, 2 Yr. CAGR %	-	126.9	64.18	-29.26	-21.54
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	123.8	64.64	-29.98	-21.75
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	61.96	54.33	18.69	-9.74
Gross Profit, 3 Yr. CAGR %	-	70.6	58.98	4.46	-25.88
EBITDA, 3 Yr. CAGR %	-	74.77	55.89	-45.81	4.99
EBITA, 3 Yr. CAGR %	-	74.68	55.5	-42.47	5.54
EBIT, 3 Yr. CAGR %	-	76.42	55.88	-29.88	9.64
Earnings From Cont. Operations, 3 Yr. CAGR %	-	78.1	63.62	-15.22	15.61
Net Income, 3 Yr. CAGR %	-	78.14	64.88	-14.61	15.74
Normalized Net Income, 3 Yr. CAGR %	-	72.25	59.71	-19.14	14.13
Diluted EPS Before Extra, 3 Yr. CAGR %	-	61.89	43.84	-22.52	5.02
Accounts Receivable, 3 Yr. CAGR %	-	57.17	58.98	58.29	22.78
Net Property, Plant and Equip., 3 Yr. CAGR %	-	123.67	110.49	-5.93	-6.87
Total Assets, 3 Yr. CAGR %	-	91.65	63.95	44.77	1.01
Tangible Book Value, 3 Yr. CAGR %	-	121.98	107.23	45.66	-5.37
Common Equity, 3 Yr. CAGR %	-	117.3	101.17	45.98	-3.34
Cash From Operations, 3 Yr. CAGR %	-	82.39	28.24	68.72	8.61
Capital Expenditures, 3 Yr. CAGR %	-	232.62	188.82	-36.59	-25.48
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	44.12	32.38	-28.09
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	42.29	32.2	-28.46
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	31.73	18.28
Gross Profit, 5 Yr. CAGR %	-	-	-	21.57	7.78
EBITDA, 5 Yr. CAGR %	-	-	-	-17.57	34.29
EBITA, 5 Yr. CAGR %	-	-	-	-14.59	34.66
EBIT, 5 Yr. CAGR %	-	-	-	-3.84	38.35
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	0.86	43.42
Net Income, 5 Yr. CAGR %	-	-	-	0.86	44.2
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-1.54	40.7
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-7.06	28.47
Accounts Receivable, 5 Yr. CAGR %	-	-	-	46.01	37.83
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	58.47	36.57
Total Assets, 5 Yr. CAGR %	-	-	-	52.17	32.15
Tangible Book Value, 5 Yr. CAGR %	-	-	-	64.17	45.58
Common Equity, 5 Yr. CAGR %	-	-	-	63.22	44.05
Cash From Operations, 5 Yr. CAGR %	-	-	-	35.63	51.52
Capital Expenditures, 5 Yr. CAGR %	-	-	-	80.09	6.89
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	13.87
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	12.9