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SAIHEAT Ltd

SAIH Clue Score22
United States Fiscal year ends December CIK 0001847075
$25.61 +0.63% Close, 9 Oct 2026
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Price $25.61 +160.79% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 28 Jun 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Revenue2.0Operating income0.3Net income0.4Fiscal year 2021Revenue17.0 +770.6%Operating income−1.9Net income−1.9 −577.3%EPS, diluted−1.46Fiscal year 2022Revenue10.6 −37.6%Operating income−7.5Net income−8.8EPS, diluted−6.72Fiscal year 2023Revenue6.8 −36.3%Operating income−7.4Net income−6.1EPS, diluted−3.79Fiscal year 2024Revenue5.5 −18.2%Operating income−7.9Net income−5.9EPS, diluted−3.46Fiscal year 2025Revenue4.5 −18.4%Operating income−6.8Net income−6.5EPS, diluted−3.51
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.0 17.0 10.6 6.8 5.5 4.5
Growth +770.6% −37.6% −36.3% −18.2% −18.4%
Operating income 0.3 −1.9 −7.5 −7.4 −7.9 −6.8
Net income 0.4 −1.9 −8.8 −6.1 −5.9 −6.5
Growth −577.3%
EPS, diluted n/a −1.46 −6.72 −3.79 −3.46 −3.51

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2020Gross margin46.1%Operating margin14.4%Net margin20.6%Free cash flow margin−69.5%Fiscal year 2021Gross margin7.4%Operating margin−11.3%Net margin−11.3%Free cash flow margin−28.1%Fiscal year 2022Gross margin10.7%Operating margin−70.2%Net margin−83.1%Free cash flow margin−64.0%Fiscal year 2023Gross margin6.7%Operating margin−108.8%Net margin−90.3%Free cash flow margin−120.6%Fiscal year 2024Gross margin−18.2%Operating margin−142.7%Net margin−106.2%Free cash flow margin−113.1%Fiscal year 2025Gross margin−51.9%Operating margin−150.9%Net margin−142.7%
FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 46.1% 7.4% 10.7% 6.7% −18.2% −51.9%
Operating margin 14.4% −11.3% −70.2% −108.8% −142.7% −150.9%
Net margin 20.6% −11.3% −83.1% −90.3% −106.2% −142.7%
Free cash flow margin −69.5% −28.1% −64.0% −120.6% −113.1% n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow−1.0Capital expenditure−0.3Free cash flow−1.4Fiscal year 2021Operating cash flow−0.8Capital expenditure−4.0Free cash flow−4.8Fiscal year 2022Operating cash flow−4.9Capital expenditure−1.9Free cash flow−6.8Fiscal year 2023Operating cash flow−3.1Capital expenditure−5.0Free cash flow−8.2Fiscal year 2024Operating cash flow−5.6Capital expenditure−0.7Free cash flow−6.3Fiscal year 2025Operating cash flow−7.6
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −1.0 −0.8 −4.9 −3.1 −5.6 −7.6
Capital expenditure −0.3 −4.0 −1.9 −5.0 −0.7 n/a
Free cash flow −1.4 −4.8 −6.8 −8.2 −6.3 n/a
Growth

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2020Cash1.3Shareholders’ equity0.5Fiscal year 2021Cash0.0Shareholders’ equity−3.1Fiscal year 2022Cash11.2Shareholders’ equity20.3Fiscal year 2023Cash3.2Shareholders’ equity16.8Fiscal year 2024Cash1.0Shareholders’ equity14.4Fiscal year 2025Cash0.2Shareholders’ equity7.4
FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.3 0.0 11.2 3.2 1.0 0.2
Shareholders’ equity 0.5 −3.1 20.3 16.8 14.4 7.4

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
46.1% 7.4% 10.7% 6.7% −18.2% −51.9%
14.4% −11.3% −70.2% −108.8% −142.7% −150.9%
23.3% −11.3% −83.1% −90.3% −106.2% −142.7%
20.6% −11.3% −83.1% −90.3% −106.2% −142.7%
−69.5% −28.1% −64.0% −120.6% −113.1% n/a
Spending
17.8% 2.5% 4.5% 12.6% 11.6% 4.8%
11.8% 14.0% 67.5% 100.9% 112.9% 59.8%
16.6% 23.3% 17.6% 74.5% 12.9% n/a
11.6% n/a n/a n/a n/a n/a
Returns
81.3% n/a −43.5% −36.4% −41.0% −87.2%
n/a −4.3% −41.9% −33.9% −31.8% −50.8%
Balance and payout
n/a 7.0% 3.7% 6.9% 22.5% 41.8%