Token Cat (TC) Financial Statements & Analysis

Token Cat (TC) Income Statement

Token Cat reported revenue of CNY 5.92M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 88.0% from CNY 49.18M a year earlier. Net income was CNY 2.27M, a net margin of 38.3%. Gross margin was 2.8% and operating margin -582.3%. In the most recent quarter, H1 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 19.45M, down 1.7% from the same quarter a year earlier.

Token Cat Income Statement Analysis

Values in millions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Token Cat Limited income statement - Annual data in millions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Mar 2021	Dec 2020	Mar 2020	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	5.92	49.18	162.37	183.19	357.55	330.23	330.23	644.77	651.01	280.67
Cost of Revenue	5.75	15.60	68.94	70.54	85.29	88.80	88.80	186.54	183.37	54.78
Gross Profit	0.17	33.58	93.43	112.65	272.26	241.43	241.43	458.23	467.64	225.88
Operating Expenses
Research & Development	0.00	11.89	11.27	19.80	35.65	34.27	34.27	43.34	19.26	15.93
Selling, General & Administrative	34.64	107.58	201.67	192.40	347.46	378.49	378.49	675.93	516.42	250.74
Operating Expenses	34.64	123.52	214.45	212.20	383.11	412.75	412.75	716.55	539.59	299.16
Operating Income	-34.48	-89.94	-121.03	-99.55	-110.85	-171.33	-171.33	-261.04	-68.04	-71.74
Other Income/Expense
Interest Income	0.00	0.00	0.14	0.03	0.63	2.41	0.93	7.02	3.15	0.00
Interest Expense	0.00	1.00	0.00	-0.17	0.00	0.00	-	0.00	0.00	2.42
Other Income/Expense	77.01	-98.05	38.06	-72.22	8.28	6.82	6.82	9.74	-7.05	-3.95
Income
Income Before Tax	42.54	-187.99	-82.97	-171.94	-101.95	-164.51	-164.51	-251.30	-75.09	-75.69
Income Tax Expense	0.00	0.00	0.00	-5.45	0.00	-1.03	-1.03	0.00	35.07	20.95
Net Income	2.27	-187.99	-82.97	-166.49	-101.95	-163.03	-163.03	-250.64	-110.15	-96.64
Net Income - Continuous Operations	42.54	-187.99	-82.97	-166.49	-101.95	-163.03	-	-250.64	-110.15	-96.64
Net Income - Discontinued Operations	-40.27	-93.72	-79.81	-	-	-	-	-	-	-
EBITDA	-34.48	-85.89	-115.28	-95.32	-103.44	-164.22	-164.22	-256.61	-66.98	-70.78
EBIT	-34.48	-37.58	-24.54	-99.55	-110.85	-	-171.33	-	-	-
Depreciation & Amortization	0.00	85.89	4.24	4.24	7.41	7.11	7.11	4.43	1.06	0.97
Earnings Per Share
Basic EPS	19.00	-65.00	-29.00	-2496.00	-1584.00	-77.00	-130.00	-122.00	-130.00	-147.00
Diluted EPS	19.00	-65.00	-29.00	-2496.00	-1584.00	-77.00	-130.00	-122.00	-130.00	-147.00
Basic Shares Outstanding	0.12	2.19	2.12	0.07	0.06	1.59	1.27	1.54	0.64	0.49
Diluted Shares Outstanding	0.12	2.19	2.12	0.07	0.06	1.59	1.27	1.54	0.64	0.49

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

Frequently Asked Questions About Token Cat Financial Statements

What was Token Cat's revenue in fiscal 2025?

Token Cat reported revenue of CNY 5.92M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 88.0% from CNY 49.18M a year earlier.

Is Token Cat profitable?

Yes. Token Cat earned net income of CNY 2.27M in fiscal 2025, a net margin of 38.3%. In fiscal 2024 it lost CNY 187.99M.

What is Token Cat's operating margin?

Token Cat's operating income was −CNY 34.48M on revenue of CNY 5.92M in fiscal 2025, an operating margin of -582.3%, compared with -182.9% 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