Income Statement Northann Corp.

Stocks

NCL

US66373M4087

Construction Supplies & Fixtures

End-of-day quote NYSE 2026-08-24			5-day change	1st Jan Change
0.002300 ^USD	-98.55%		-98.55%	-99.16%

05-19	Northann Corp. Reports Earnings Results for the First Quarter Ended March 31, 2026	CI
04-14	Northann Corp. Reports Earnings Results for the Full Year Ended December 31, 2025	CI

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Published financial data: NORTHANN CORP.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	34.53M	20.96M	13.97M	15.35M	13.6M
Total Revenues	34.53M	20.96M	13.97M	15.35M	13.6M
Cost of Goods Sold, Total	28.69M	15.2M	12.76M	11.37M	10.02M
Gross Profit	5.83M	5.75M	1.21M	3.98M	3.58M
Selling General & Admin Expenses, Total	2.24M	2.21M	3.99M	4.79M	12.86M
R&D Expenses	2.33M	1.47M	1.9M	783K	2.09M
Other Operating Expenses	110K	-	84.54K	82.26K	83.55K
Other Operating Expenses, Total	4.69M	3.68M	5.98M	5.65M	15.03M
Operating Income	1.15M	2.08M	-4.76M	-1.67M	-11.46M
Interest Expense, Total	-6.57K	-681K	-2.36M	-471K	-212K
Interest And Investment Income	-	-	-	120	588
Net Interest Expenses	-6.57K	-681K	-2.36M	-471K	-212K
Currency Exchange Gains (Loss)	-307K	-204K	-	-	-
Other Non Operating Income (Expenses)	47.1K	-136K	1.05K	274K	1.83K
EBT, Excl. Unusual Items	879K	1.06M	-7.12M	-1.87M	-11.67M
Impairment of Goodwill	-	-	-	-2.51M	-
EBT, Incl. Unusual Items	879K	1.06M	-7.12M	-4.38M	-11.67M
Income Tax Expense	557K	127K	14.36K	1.73K	8.58K
Earnings From Continuing Operations	323K	929K	-7.13M	-4.38M	-11.67M
Net Income to Company	323K	929K	-7.13M	-4.38M	-11.67M
Net Income - (IS)	323K	929K	-7.13M	-4.38M	-11.67M
Net Income to Common Incl Extra Items	323K	929K	-7.13M	-4.38M	-11.67M
Net Income to Common Excl. Extra Items	323K	929K	-7.13M	-4.38M	-11.67M
Per Share Items
Net EPS - Basic	0.16	0.37	-2.81	-1.33	-0.82
Basic EPS - Continuing Operations	0.16	0.37	-2.81	-1.33	-0.82
Basic Weighted Average Shares Outstanding	2.02M	2.5M	2.53M	3.28M	14.3M
Net EPS - Diluted	0.16	0.37	-2.81	-1.36	-0.82
Diluted EPS - Continuing Operations	0.16	0.37	-2.81	-1.36	-0.82
Diluted Weighted Average Shares Outstanding	2.02M	2.55M	2.53M	3.28M	14.3M
Normalized Basic EPS	0.27	0.26	-1.76	-0.36	-0.51
Normalized Diluted EPS	0.27	0.26	-1.76	-0.36	-0.51
Supplemental Items
EBITDA	1.96M	2.68M	-4.08M	-1.03M	-10.79M
EBITA	1.15M	2.08M	-4.76M	-1.67M	-11.46M
EBIT	1.15M	2.08M	-4.76M	-1.67M	-11.46M
EBITDAR	2.05M	2.75M	-4M	-866K	-10.2M
Effective Tax Rate - (Ratio)	63.31	12.02	-0.2	-0.04	-0.07
Current Domestic Taxes	498K	90.38K	12.85K	-108	8.58K
Current Foreign Taxes	58.63K	36.61K	1.51K	1.84K	-
Total Current Taxes	557K	127K	14.36K	1.73K	8.58K
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-	-	-	-	-
Normalized Net Income	550K	660K	-4.45M	-1.17M	-7.29M
Supplemental Operating Expense Items
Advertising Expense	19.48K	120K	265K	275K	274K
Selling and Marketing Expenses	1.21M	1.01M	1.12M	1.03M	9.32M
General and Administrative Expenses	939K	1.12M	2.8M	3.6M	2.94M
Research And Development Expense From Footnotes	2.33M	1.47M	1.9M	783K	2.09M
Net Rental Expense, Total	89.37K	76.09K	83.51K	163K	592K
Imputed Operating Lease Interest Expense	623	59.04K	218K	82.29K	146K
Imputed Operating Lease Depreciation	88.75K	17.05K	-134K	80.22K	446K
Stock-Based Comp., S&M Exp. (Total)	-	-	-	-	8.3M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	423K
Stock-Based Comp., Other (Total)	-	-	-	2.04M	828K
Total Stock-Based Compensation	-	-	-	2.04M	9.55M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	749K	251K	1.1M	245K	1.03M
Short Term Investments	-	111K	127K	74.98K	50.08K
Total Cash And Short Term Investments	749K	362K	1.23M	320K	1.08M
Accounts Receivable, Total	1.25M	1.43M	2.62M	3.11M	3.51M
Other Receivables	73.72K	-	-	-	985K
Notes Receivable	898K	-	-	-	-
Total Receivables	2.23M	1.43M	2.62M	3.11M	4.5M
Inventory	2.86M	4.56M	2.65M	2M	6.19M
Prepaid Expenses	483K	237K	311K	491K	573K
Restricted Cash	-	3.84K	3.77K	-	-
Other Current Assets, Total	69.05K	-	-	-	-
Total Current Assets	6.39M	6.59M	6.8M	5.91M	12.34M
Gross Property Plant And Equipment	10.02M	10.24M	10.16M	11.71M	12.7M
Accumulated Depreciation	-3.08M	-3.73M	-4.39M	-4.74M	-5.59M
Net Property Plant And Equipment	6.94M	6.52M	5.77M	6.98M	7.1M
Other Intangibles, Total	1.12M	1.07M	1.03M	978K	995K
Deferred Tax Assets Long-Term	-	-	-	-	-
Deferred Charges Long-Term	-	218K	-	-	-
Other Long-Term Assets, Total	9.03K	9.03K	9.03K	9.03K	9.03K
Total Assets	14.46M	14.41M	13.62M	13.88M	20.44M
Liabilities
Accounts Payable, Total	6.39M	4.73M	4.54M	2.6M	4.32M
Short-term Borrowings	4.8M	5.88M	5.74M	6.12M	1.29M
Current Portion of Long-Term Debt	-	1.29M	857K	-	15.76K
Current Portion of Leases	25.72K	18.24K	31.41K	356K	375K
Current Income Taxes Payable	408K	70.28K	609K	601K	22.54K
Unearned Revenue Current, Total	1.67M	287	1.08M	-	1.35M
Total Current Liabilities	13.29M	11.99M	12.86M	9.67M	7.37M
Long-Term Debt	1.55M	447K	125K	137K	2.97M
Long-Term Leases	18.24K	-	55.97K	1.47M	1.09M
Total Liabilities	14.86M	12.44M	13.04M	11.28M	11.43M
Preferred Stock Non Redeemable	10K	5K	5K	5K	625
Total Preferred Equity	10K	5K	5K	5K	625
Common Stock, Total	40K	20K	21.38K	55.46K	22.93K
Additional Paid In Capital	-	925K	6.67M	15.49M	41.71M
Retained Earnings	890K	1.82M	-5.31M	-9.69M	-21.37M
Comprehensive Income and Other	-1.34M	-795K	-801K	-3.25M	-11.36M
Total Common Equity	-413K	1.97M	578K	2.59M	9.01M
Total Equity	-403K	1.97M	583K	2.6M	9.01M
Total Liabilities And Equity	14.46M	14.41M	13.62M	13.88M	20.44M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.5M	2.5M	2.67M	11.93M	53.73M
ECS Total Common Shares Outstanding	2.5M	2.5M	2.67M	6.93M	22.93M
Book Value / Share	-0.17	0.79	0.22	0.37	0.39
Tangible Book Value	-1.54M	896K	-453K	1.62M	8.01M
Tangible Book Value Per Share	-0.61	0.36	-0.17	0.23	0.35
Total Debt	6.39M	7.64M	6.8M	8.07M	5.74M
Net Debt	5.65M	7.28M	5.58M	7.75M	4.66M
Debt Equivalent Oper. Leases	715K	609K	668K	1.3M	4.74M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	2.12M	3.16M	1.65M	1.52M	1.64M
Inventories - Finished Goods, Total	743K	1.4M	991K	478K	4.55M
Machinery, Total	9.59M	9.25M	9.11M	8.63M	9.1M
Full Time Employees	71	71	73	49	63

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	323K	929K	-7.13M	-4.38M	-11.67M
Depreciation & Amortization - CF	816K	598K	680K	645K	662K
Depreciation & Amortization, Total	816K	598K	680K	645K	662K
Amortization of Deferred Charges, Total - (CF)	-	314K	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	2.51M	-
Stock-Based Compensation (CF)	-	-	-	2.04M	9.55M
Provision and Write-off of Bad Debts	13.89K	-	13.89K	-	-
Other Operating Activities, Total	0	-	-	-250K	-101K
Change In Accounts Receivable	-1.15M	-174K	-1.19M	-491K	-520K
Change In Inventories	-594K	-1.7M	1.92M	650K	-4.12M
Change In Accounts Payable	3.2M	-1.48M	-2.38M	-41.97K	-109K
Change in Unearned Revenues	1.39M	-1.67M	1.08M	-1.08M	1.47M
Change In Income Taxes	243K	-338K	538K	-7.36K	-40.84K
Change In Deferred Taxes	168K	-	-	-	-
Change in Other Net Operating Assets	152K	-123K	1.79M	-824K	-801K
Cash from Operations	4.55M	-3.65M	-4.68M	-1.23M	-5.68M
Capital Expenditure	-1.27M	-487K	-	-296K	-892K
Sale of Property, Plant, and Equipment	-	337K	-	-	-
Sale (Purchase) of Intangible assets	-53.01K	-	-	-	-
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-1.32M	-151K	-	-296K	-892K
Short Term Debt Issued, Total	-	1.08M	719K	1.14M	-
Long-Term Debt Issued, Total	1.77M	1.7M	-	726K	2.78M
Total Debt Issued	1.77M	2.78M	719K	1.86M	2.78M
Short Term Debt Repaid, Total	-4.91M	-	-	-845K	-3.55M
Long-Term Debt Repaid, Total	-	-	-1.31M	-2.2M	-
Total Debt Repaid	-4.91M	-	-1.31M	-3.05M	-3.55M
Issuance of Common Stock	-	-	5.97M	-	6.85M
Other Financing Activities, Total	-	-	-	-	1.38M
Cash from Financing	-3.14M	2.78M	5.38M	-1.19M	7.46M
Foreign Exchange Rate Adjustments	302K	523K	153K	1.86M	-97.21K
Net Change in Cash	398K	-498K	850K	-860K	785K
Supplemental Items
Cash Interest Paid	7.74K	293K	255K	246K	217K
Cash Income Tax Paid (Refund)	28.53K	110K	287K	121K	8.58K
Levered Free Cash Flow	2.56M	-2.96M	-1.68M	-2M	-1.14M
Unlevered Free Cash Flow	2.56M	-2.85M	-208K	-1.7M	-1.01M
Change In Net Working Capital	-2.35M	4.26M	-2.09M	3.05M	3.17M
Net Debt Issued / Repaid	-3.14M	2.78M	-589K	-1.19M	-773K

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	5.66	9	-21.25	-7.61	-41.72
Return on Total Capital	10.51	16.64	-35.03	-11.59	-56.33
Return On Equity %	-44.76	118.3	-558.03	-275.31	-201.11
Return on Common Equity	-44.15	119.05	-560.22	-276.18	-201.14
Margin Analysis
Gross Profit Margin %	16.89	27.46	8.69	25.93	26.3
SG&A Margin	6.49	10.54	28.59	31.19	94.53
EBITDA Margin %	5.68	12.77	-29.23	-6.7	-79.36
EBITA Margin %	3.32	9.91	-34.1	-10.91	-84.22
EBIT Margin %	3.32	9.91	-34.1	-10.91	-84.22
Income From Continuing Operations Margin %	0.93	4.43	-51.05	-28.53	-85.83
Net Income Margin %	0.93	4.43	-51.05	-28.53	-85.83
Net Avail. For Common Margin %	0.93	4.43	-51.05	-28.53	-85.83
Normalized Net Income Margin	1.59	3.15	-31.84	-7.62	-53.6
Levered Free Cash Flow Margin	7.41	-14.15	-12.02	-13	-8.39
Unlevered Free Cash Flow Margin	7.42	-13.61	-1.49	-11.09	-7.41
Asset Turnover
Asset Turnover	2.73	1.45	1	1.12	0.79
Fixed Assets Turnover	5.14	3.12	2.27	2.41	1.93
Receivables Turnover (Average Receivables)	50.46	15.62	6.91	5.37	4.11
Inventory Turnover (Average Inventory)	11.2	4.1	3.54	4.9	2.45
Short Term Liquidity
Current Ratio	0.48	0.55	0.53	0.61	1.67
Quick Ratio	0.16	0.15	0.3	0.35	0.76
Operating Cash Flow to Current Liabilities	0.34	-0.3	-0.36	-0.13	-0.77
Days Sales Outstanding (Average Receivables)	7.23	23.36	52.83	68.22	88.82
Days Outstanding Inventory (Average Inventory)	32.59	89.09	103.11	74.7	148.94
Average Days Payable Outstanding	57	120	155.98	121.86	88.88
Cash Conversion Cycle (Average Days)	-17.17	-7.54	-0.04	21.05	148.88
Long Term Solvency
Total Debt/Equity	-1.59K	387	1.17K	310.67	63.68
Total Debt / Total Capital	106.73	79.47	92.11	75.65	38.91
LT Debt/Equity	-389.19	22.67	31.04	61.69	45.07
Long-Term Debt / Total Capital	26.18	4.65	2.45	15.02	27.53
Total Liabilities / Total Assets	102.79	86.3	95.72	81.27	55.92
EBIT / Interest Expense	174.43	3.05	-2.02	-3.55	-53.91
EBITDA / Interest Expense	312.26	4.04	-1.7	-1.84	-48.01
(EBITDA - Capex) / Interest Expense	119.52	3.33	-1.7	-2.47	-52.21
Total Debt / EBITDA	3.12	2.78	-1.7	-9.32	-0.56
Net Debt / EBITDA	2.75	2.64	-1.39	-8.96	-0.46
Total Debt / (EBITDA - Capex)	8.15	3.37	-1.7	-6.95	-0.52
Net Debt / (EBITDA - Capex)	7.19	3.21	-1.39	-6.67	-0.42
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	163.67	-39.3	-33.33	9.86	-11.39
Gross Profit, 1 Yr. Growth %	29	-1.32	-78.9	224.29	-10.12
EBITDA, 1 Yr. Growth %	38.87	36.39	-252.64	-74.74	1.57K
EBITA, 1 Yr. Growth %	108.53	81.32	-329.33	-64.77	785.62
EBIT, 1 Yr. Growth %	108.53	81.32	-329.33	-64.77	785.62
Earnings From Cont. Operations, 1 Yr. Growth %	-27.34	187.92	-867.72	-38.59	166.54
Net Income, 1 Yr. Growth %	-27.34	187.92	-867.72	-38.59	166.54
Normalized Net Income, 1 Yr. Growth %	117.77	20.09	-774.05	-73.72	682.79
Diluted EPS Before Extra, 1 Yr. Growth %	0	187.92	-857.19	-51.67	-38.53
Accounts Receivable, 1 Yr. Growth %	1K	13.9	83.06	18.78	13.07
Inventory, 1 Yr. Growth %	26.22	59.57	-42.02	-24.57	209.97
Net Property, Plant and Equip., 1 Yr. Growth %	7	-6.08	-11.39	20.81	1.8
Total Assets, 1 Yr. Growth %	33.46	-0.33	-5.49	1.89	47.33
Tangible Book Value, 1 Yr. Growth %	-28.43	-158.52	-150.58	-456.48	394.56
Common Equity, 1 Yr. Growth %	-60.62	-582.54	-70.66	349.12	246.72
Cash From Operations, 1 Yr. Growth %	-607.2	-180.12	36.39	-73.64	360.58
Capital Expenditures, 1 Yr. Growth %	111.86	-61.51	-	-	200.9
Levered Free Cash Flow, 1 Yr. Growth %	-	-215.89	-43.34	19.4	-35.12
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-211.35	-92.72	752.92	-31.15
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	26.51	-36.39	-14.42	-1.33
Gross Profit, 2 Yr. CAGR %	-	12.83	-54.37	-16.84	70.72
EBITDA, 2 Yr. CAGR %	-	37.63	44.28	-38	62.84
EBITA, 2 Yr. CAGR %	-	94.45	103.92	-10.23	55.28
EBIT, 2 Yr. CAGR %	-	94.45	103.92	-10.23	55.28
Earnings From Cont. Operations, 2 Yr. CAGR %	-	44.64	370.15	117.12	27.93
Net Income, 2 Yr. CAGR %	-	44.64	370.15	117.12	27.93
Normalized Net Income, 2 Yr. CAGR %	-	61.72	184.51	33.09	28.02
Diluted EPS Before Extra, 2 Yr. CAGR %	-	52.4	366.91	91.3	-46.02
Accounts Receivable, 2 Yr. CAGR %	-	254.2	44.4	47.46	15.89
Inventory, 2 Yr. CAGR %	-	41.92	-3.81	-33.86	52.91
Net Property, Plant and Equip., 2 Yr. CAGR %	-	0.25	-8.77	3.47	10.9
Total Assets, 2 Yr. CAGR %	-	15.34	-2.94	-1.87	22.52
Tangible Book Value, 2 Yr. CAGR %	-	-35.31	-45.59	34.28	320.45
Common Equity, 2 Yr. CAGR %	-	37.34	18.98	14.79	294.94
Cash From Operations, 2 Yr. CAGR %	-	101.59	1.36	-40.04	10.19
Capital Expenditures, 2 Yr. CAGR %	-	-9.7	-	-22.01	-
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-18.97	-17.95	-17.39
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-71.54	-22.77	124.77
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	2.19	-23.68	-13.42
Gross Profit, 3 Yr. CAGR %	-	-	-35.48	-11.96	-14.66
EBITDA, 3 Yr. CAGR %	-	-	42.46	-19.36	59.19
EBITA, 3 Yr. CAGR %	-	-	105.44	13.47	76.68
EBIT, 3 Yr. CAGR %	-	-	105.44	13.47	76.68
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	152.3	138.54	132.48
Net Income, 3 Yr. CAGR %	-	-	152.3	138.54	132.48
Normalized Net Income, 3 Yr. CAGR %	-	-	160.26	28.61	122.71
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	160.05	119.23	30.19
Accounts Receivable, 3 Yr. CAGR %	-	-	184.25	35.29	34.97
Inventory, 3 Yr. CAGR %	-	-	5.31	-11.3	10.68
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-3.79	0.18	2.91
Total Assets, 3 Yr. CAGR %	-	-	7.93	-1.36	12.36
Tangible Book Value, 3 Yr. CAGR %	-	-	-40.41	1.81	107.56
Common Equity, 3 Yr. CAGR %	-	-	-17.9	85.26	66.02
Cash From Operations, 3 Yr. CAGR %	-	-	73.37	-35.3	18.31
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-38.37	22.32
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-7.94	-27.27
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-12.75	-29.31
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	0.76
Gross Profit, 5 Yr. CAGR %	-	-	-	-	-4.58
EBITDA, 5 Yr. CAGR %	-	-	-	-	50.19
EBITA, 5 Yr. CAGR %	-	-	-	-	83.58
EBIT, 5 Yr. CAGR %	-	-	-	-	83.58
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	92.29
Net Income, 5 Yr. CAGR %	-	-	-	-	92.29
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	95.95
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	38.66
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	98.54
Inventory, 5 Yr. CAGR %	-	-	-	-	22.25
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	1.84
Total Assets, 5 Yr. CAGR %	-	-	-	-	13.54
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	30.2
Common Equity, 5 Yr. CAGR %	-	-	-	-	53.9
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	44.62
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	8.34