Northann Corp. (NCL)

Northann Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	13.6	15.35	13.97	20.96	34.53
Revenue Growth (YoY)	-11.39%	9.86%	-33.34%	-39.30%	163.67%
Cost of Revenue	10.02	11.37	12.74	15.2	28.69
Gross Profit	3.58	3.98	1.21	5.75	5.83
Selling, General & Admin	12.94	4.87	4.08	2.21	2.35
Research & Development	2.09	0.78	1.9	1.47	2.33
Total Operating Expenses	15.03	5.65	5.98	3.68	4.69
Operating Income	-11.46	-1.67	-4.76	2.08	1.15
Interest Income	0	0	-	-	-
Interest Expense	-0.21	-0.47	-2.36	-0.68	-0.01
Other Non-Operating Income (Expense)	0	-2.23	0	-0.34	-0.26
Total Non-Operating Income (Expense)	-0.21	-2.7	-2.35	-1.02	-0.27
Pretax Income	-11.67	-4.38	-7.12	1.06	0.88
Provision for Income Taxes	0.01	0	0.01	0.13	-0.56
Net Income	-11.67	-4.38	-7.13	0.93	0.32
Net Income to Common	-11.67	-4.38	-7.13	0.93	0.32
Net Income Growth	-	-	-	187.92%	-27.34%
Shares Outstanding (Basic)	14	3	3	3	3
Shares Outstanding (Diluted)	14	3	3	3	3
Shares Change (YoY)	335.65%	29.54%	-0.46%	1.86%	-
EPS (Basic)	-0.82	-1.33	-2.80	0.40	0.16
EPS (Diluted)	-0.82	-1.33	-2.80	0.40	0.16
EPS Growth	-	-	-	150.00%	-
Shares Outstanding	22.93	6.93	2.67	5	2.5
Free Cash Flow	-6.57	-1.53	-4.68	-3.58	4.17
Free Cash Flow Per Share	-0.46	-0.47	-1.85	-1.41	1.67
Gross Margin	26.30%	25.93%	8.69%	27.46%	16.89%
Operating Margin	-84.22%	-10.91%	-34.10%	9.91%	3.32%
Profit Margin	-85.83%	-28.53%	-51.05%	4.43%	0.93%
FCF Margin	-48.33%	-9.97%	-33.49%	-17.09%	12.09%
EBITDA	-10.79	-1.03	-4.08	2.68	1.96
EBITDA Margin	-79.36%	-6.70%	-29.23%	12.77%	5.68%
EBIT	-11.46	-1.67	-4.76	2.08	1.15
EBIT Margin	-84.22%	-10.91%	-34.10%	9.91%	3.32%
Effective Tax Rate	-0.07%	-0.04%	-0.20%	12.02%	-63.31%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q