Max Echo Technology Income Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	491.1	430.41	442.28	688.4	706.9	510.85
Revenue Growth (YoY)	18.47%	-2.68%	-35.75%	-2.62%	38.38%	19.11%
Cost of Revenue	420.93	410.26	417.27	514.92	520.09	379.13
Gross Profit	70.17	20.15	25.01	173.48	186.82	131.72
Selling, General & Admin	86.97	83.16	80.86	103.64	93.9	76.45
Research & Development	27.08	18.47	33.44	20.84	20.09	19.2
Operating Expenses	114.2	101.7	113.79	124.23	114.2	95.98
Operating Income	-44.03	-81.55	-88.78	49.26	72.62	35.73
Interest Expense	-12.13	-11.16	-9.84	-8.09	-7.24	-8.21
Interest & Investment Income	0.37	0.46	0.49	0.28	0.03	0.13
Currency Exchange Gain (Loss)	1.21	3.33	3.6	14.12	-7.65	-0.13
Other Non Operating Income (Expenses)	11.88	9.93	7.43	6.64	6.57	6.42
EBT Excluding Unusual Items	-42.7	-78.98	-87.09	62.21	64.32	33.94
Gain (Loss) on Sale of Assets	-0.1	-	-	-0.04	-	-
Pretax Income	-42.79	-78.98	-87.09	62.17	64.32	33.94
Income Tax Expense	2.44	1.37	-10.99	12.12	6.74	4.6
Net Income	-45.23	-80.35	-76.1	50.04	57.58	29.34
Net Income to Common	-45.23	-80.35	-76.1	50.04	57.58	29.34
Net Income Growth	-	-	-	-13.09%	96.24%	-
Shares Outstanding (Basic)	38	38	38	36	34	34
Shares Outstanding (Diluted)	38	38	38	37	34	34
Shares Change (YoY)	-	-	3.51%	8.60%	0.60%	0.21%
EPS (Basic)	-1.19	-2.11	-2.00	1.38	1.71	0.87
EPS (Diluted)	-1.19	-2.11	-2.00	1.36	1.70	0.87
EPS Growth	-	-	-	-20.00%	95.40%	-
Free Cash Flow	-8.34	-5.09	-66.12	6.57	55.4	33.86
Free Cash Flow Per Share	-0.22	-0.13	-1.74	0.18	1.64	1.01
Dividend Per Share	-	-	-	0.300	0.500	0.200
Dividend Growth	-	-	-	-40.00%	150.00%	-
Gross Margin	14.29%	4.68%	5.65%	25.20%	26.43%	25.78%
Operating Margin	-8.96%	-18.95%	-20.07%	7.16%	10.27%	6.99%
Profit Margin	-9.21%	-18.67%	-17.21%	7.27%	8.15%	5.74%
Free Cash Flow Margin	-1.70%	-1.18%	-14.95%	0.95%	7.84%	6.63%
EBITDA	-6.02	-34.71	-39.21	93.96	110.22	71.35
EBITDA Margin	-1.23%	-8.06%	-8.87%	13.65%	15.59%	13.97%
D&A For EBITDA	38	46.83	49.57	44.7	37.6	35.62
EBIT	-44.03	-81.55	-88.78	49.26	72.62	35.73
EBIT Margin	-8.96%	-18.95%	-20.07%	7.16%	10.27%	6.99%
Effective Tax Rate	-	-	-	19.50%	10.48%	13.55%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.