QNAP Systems 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Revenue	6,171	5,907	5,887	5,652
Revenue Growth (YoY)	6.55%	0.33%	4.16%	-
Cost of Revenue	2,743	2,521	2,188	3,128
Gross Profit	3,428	3,386	3,699	2,524
Selling, General & Admin	1,141	1,192	1,154	1,142
Research & Development	967.44	1,111	1,184	1,067
Operating Expenses	2,111	2,287	2,342	2,214
Operating Income	1,318	1,098	1,357	310.02
Interest Expense	-0.74	-0.69	-0.56	-3.67
Interest & Investment Income	88.02	80.85	104.22	75.38
Earnings From Equity Investments	7.09	-2	-11.81	-3.68
Currency Exchange Gain (Loss)	-59.68	67.01	73.62	104.51
Other Non Operating Income (Expenses)	76.41	67.68	44.55	33.4
EBT Excluding Unusual Items	1,429	1,311	1,567	515.96
Gain (Loss) on Sale of Investments	1.5	3.76	28.14	0.16
Gain (Loss) on Sale of Assets	18.39	0.28	2.66	9.61
Pretax Income	1,449	1,315	1,598	525.73
Income Tax Expense	216.42	127.32	326.05	96.82
Earnings From Continuing Operations	1,232	1,188	1,272	428.91
Minority Interest in Earnings	-	-	0.1	1.28
Net Income	1,232	1,188	1,272	430.19
Net Income to Common	1,232	1,188	1,272	430.19
Net Income Growth	2.76%	-6.61%	195.65%	-
Shares Outstanding (Basic)	30	68	28	28
Shares Outstanding (Diluted)	33	73	29	29
Shares Change (YoY)	-52.38%	148.51%	1.91%	-
EPS (Basic)	40.76	17.58	45.82	15.49
EPS (Diluted)	37.17	16.38	43.60	15.00
EPS Growth	115.66%	-62.43%	190.67%	-
Free Cash Flow	859.21	1,228	1,438	1,208
Free Cash Flow Per Share	25.91	16.93	49.28	42.18
Dividend Per Share	40.000	40.000	-	39.900
Gross Margin	55.56%	57.32%	62.83%	44.66%
Operating Margin	21.35%	18.59%	23.05%	5.49%
Profit Margin	19.97%	20.11%	21.60%	7.61%
Free Cash Flow Margin	13.92%	20.78%	24.43%	21.37%
EBITDA	1,461	1,252	1,544	496.97
EBITDA Margin	23.68%	21.20%	26.22%	8.79%
D&A For EBITDA	143.47	154.27	186.68	186.95
EBIT	1,318	1,098	1,357	310.02
EBIT Margin	21.35%	18.59%	23.05%	5.49%
Effective Tax Rate	14.94%	9.68%	20.41%	18.42%
Revenue as Reported	6,171	5,907	5,887	5,652

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