e-Ray Technology Income Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	527.43	313.69	149.4
Revenue Growth	68.14%	109.96%	-
Cost of Revenue	413.51	253.41	81.49
Gross Profit	113.93	60.28	67.91
Selling, General & Admin	57.77	32.5	22.37
Research & Development	54.98	26.31	27.79
Operating Expenses	112.57	58.99	50
Operating Income	1.36	1.29	17.92
Interest Expense	-1.52	-1.37	-0.23
Interest & Investment Income	3.78	1.93	1.9
Earnings From Equity Investments	-	-	-12.26
Currency Exchange Gain (Loss)	-3.31	6.9	-0.34
Other Non Operating Income (Expenses)	6.31	4.03	1.08
EBT Excluding Unusual Items	6.62	12.77	8.07
Gain (Loss) on Sale of Investments	-0.03	6.24	21
Gain (Loss) on Sale of Assets	0.35	0.77	-
Asset Writedown	-	-	30.3
Other Unusual Items	-0	-0.39	-
Pretax Income	6.93	19.64	59.36
Income Tax Expense	2.93	0.39	-
Net Income	4.01	19.25	59.36
Net Income to Common	4.01	19.25	59.36
Net Income Growth	-79.17%	-67.58%	-
Shares Outstanding (Basic)	35	24	20
Shares Outstanding (Diluted)	35	24	20
Shares Change	48.72%	20.25%	-
EPS (Basic)	0.11	0.81	3.00
EPS (Diluted)	0.11	0.81	3.00
EPS Growth	-86.42%	-72.99%	-

Additional Metrics

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Free Cash Flow	-128.44	-32.11	-65.09
Free Cash Flow Per Share	-3.63	-1.35	-3.29
Gross Margin	21.60%	19.21%	45.46%
Operating Margin	0.26%	0.41%	11.99%
Profit Margin	0.76%	6.13%	39.73%
Free Cash Flow Margin	-24.35%	-10.24%	-43.57%
EBITDA	10.45	4.99	21.14
EBITDA Margin	1.98%	1.59%	14.15%
D&A For EBITDA	9.09	3.7	3.22
EBIT	1.36	1.29	17.92
EBIT Margin	0.26%	0.41%	11.99%
Effective Tax Rate	42.19%	2.01%	-