NaaS Technology (NAAS) Financial Statements & Analysis

NaaS Technology (NAAS) Income Statement

NaaS Technology reported revenue of CNY 125.14M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 37.7% from CNY 200.98M a year earlier. NaaS Technology posted a net loss of CNY 438.95M, compared with a net loss of CNY 913.48M a year earlier. Gross margin was 85.9% and operating margin -152.4%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 22.73M, down 31.7% from the same quarter a year earlier.

NaaS Technology Income Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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NaaS Technology Inc. income statement - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	0.13	0.20	0.23	0.09	0.09	0.03	0.01	1.53	1.27	0.97
Cost of Revenue	0.02	0.11	0.17	0.09	0.09	0.03	0.01	0.69	0.58	0.45
Gross Profit	0.11	0.09	0.06	0.01	0.01	0.00	0.00	0.83	0.70	0.52
Operating Expenses
Research & Development	0.01	0.04	0.06	0.04	0.04	0.03	0.02	0.00	0.00	0.00
Selling, General & Administrative	0.28	0.57	1.01	2.44	2.42	0.23	0.06	0.02	0.49	0.52
Operating Expenses	0.30	0.90	1.07	2.47	2.45	0.26	0.08	0.02	0.49	0.52
Operating Income	-0.19	-0.81	-1.01	-2.46	-2.45	-0.25	-0.08	-0.02	0.21	0.00
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.03	0.02
Interest Expense	0.03	-0.04	0.03	0.01	0.01	0.00	0.00	-0.03	0.03	0.03
Other Income/Expense	-0.23	-0.12	-0.25	-3.17	-3.17	0.00	0.00	-0.24	0.01	0.00
Income
Income Before Tax	-0.43	-0.93	-1.29	-5.63	-5.63	-0.26	-0.08	-0.02	0.21	0.00
Income Tax Expense	0.00	-0.02	0.00	0.01	0.01	0.01	0.00	-0.16	0.07	0.05
Net Income	-0.44	-0.91	-1.31	-5.64	-5.64	-0.26	-0.08	0.15	0.14	-0.05
Net Income - Continuous Operations	-0.44	-0.91	-1.29	-5.64	-5.64	-0.26	-0.08	0.15	0.14	-0.05
Net Income - Discontinued Operations	-0.02	-0.01	-0.01	-	-	-0.51	-	-	-	-
EBITDA	-0.39	-0.50	-1.24	-0.55	-5.61	-0.25	-0.07	-0.02	0.31	0.08
EBIT	-0.18	-0.51	-1.26	-	-5.62	-0.25	-0.08	-	-	-
Depreciation & Amortization	0.01	0.01	0.02	0.00	0.01	0.00	0.00	0.07	0.06	0.05
Earnings Per Share
Basic EPS	-140.00	-1111.00	-1856.00	-8192.00	-9024.00	-506.00	-2208.00	4128.00	4176.00	-1504.00
Diluted EPS	-140.00	-1120.00	-1856.00	-8192.00	-9024.00	-512.00	-2208.00	4064.00	4096.00	-1504.00
Basic Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About NaaS Technology Financial Statements

What was NaaS Technology's revenue in fiscal 2025?

NaaS Technology reported revenue of CNY 125.14M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 37.7% from CNY 200.98M a year earlier.

Is NaaS Technology profitable?

No. NaaS Technology reported a net loss of CNY 438.95M in fiscal 2025. In fiscal 2024 it lost CNY 913.48M.

What is NaaS Technology's operating margin?

NaaS Technology's operating income was −CNY 190.72M on revenue of CNY 125.14M in fiscal 2025, an operating margin of -152.4%, compared with -401.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition