HashKey Holdings Income Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	723.09	720.73	207.79	129.06
Revenue Growth (YoY)	0.33%	246.85%	61.00%	-
Cost of Revenue	314.63	188.22	12.43	3.57
Gross Profit	408.47	532.51	195.36	125.49
Selling, General & Admin	751.43	1,023	405.73	260.71
Research & Development	503.93	556.66	324.07	247.19
Other Operating Expenses	61.32	-20.47	-129.43	194.63
Operating Expenses	1,317	1,559	600.37	702.52
Operating Income	-908.22	-1,027	-405.01	-577.03
Interest Expense	-197.06	-169.28	-36.27	-21.57
Interest & Investment Income	-	6.54	6.48	7.74
Earnings From Equity Investments	25.06	-6.89	-13.53	-12.6
Currency Exchange Gain (Loss)	-	14.27	7.08	25.06
EBT Excluding Unusual Items	-1,080	-1,182	-441.24	-578.41
Gain (Loss) on Sale of Investments	-	-1.38	-113.66	-5.21
Asset Writedown	-	-	-21.07	-0.37
Pretax Income	-1,080	-1,183	-575.97	-583.99
Income Tax Expense	4.12	6.14	3.99	1.21
Earnings From Continuing Operations	-1,084	-1,190	-579.95	-585.19
Minority Interest in Earnings	-2.54	0.61	-0.46	0.49
Net Income	-1,087	-1,189	-580.41	-584.71
Net Income to Common	-1,087	-1,189	-580.41	-584.71
Shares Outstanding (Basic)	1,469	1,350	1,350	1,064
Shares Outstanding (Diluted)	1,469	1,350	1,350	1,064
Shares Change (YoY)	8.80%	-	26.85%	-
EPS (Basic)	-0.74	-0.88	-0.43	-0.55
EPS (Diluted)	-0.74	-0.88	-0.43	-0.55
Free Cash Flow	-	-188.93	-280.66	-150.45
Free Cash Flow Per Share	-	-0.14	-0.21	-0.14
Gross Margin	56.49%	73.89%	94.02%	97.23%
Operating Margin	-125.60%	-142.46%	-194.91%	-447.09%
Profit Margin	-150.31%	-164.97%	-279.32%	-453.04%
Free Cash Flow Margin	-	-26.21%	-135.07%	-116.57%
EBITDA	-896.81	-1,015	-393.76	-567.36
EBITDA Margin	-124.03%	-140.87%	-189.50%	-
D&A For EBITDA	11.41	11.41	11.24	9.67
EBIT	-908.22	-1,027	-405.01	-577.03
EBIT Margin	-125.60%	-142.46%	-194.91%	-
Advertising Expenses	-	73.82	10.36	16.34

Source: S&P Global Market Intelligence. Standard template. Financial Sources.