The company exhibits structural margin instability, with gross margins fluctuating between -101.7% and 78.5% while operating margins remain deeply negative, frequently dipping below -300% in earlier periods.
Abits Group Inc. (ABTS) annual income statement — 12-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Sep'20 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'14 |
|---|
| Net Interest Income | -666.84K | -286.1K | -31.79K | -18.85K | 0 | -55.06K | 0 | 0 | 0 | -60.5K | 1.98K | 1.34K | 23.9K |
| NII Growth % | -5005.4% | -799.86% | -68.66% | - | 100% | - | - | - | 100% | -3155.4% | 48.2% | -94.41% | - |
| Net Interest Margin % | -7.28% | -2.19% | -0.28% | -0.15% | 0% | -0.71% | 0% | 0% | 0% | -19.9% | 0.15% | 0.02% | 0.84% |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 6.93K | 0 | 0 | 0 | 160 | 2.08K | 1.4K | 23.9K |
| Interest Expense | 666.84K | 286.1K | 31.79K | 18.85K | 0 | 62K | 0 | 0 | 0 | 60.66K | 102 | 62 | 0 |
| Loan Loss Provision | 11.14M | 5.17M | -872.71K | 873.07K | 461.29K | -62K | 0 | 0 | 0 | 629.27K | 1.11M | 1.89M | 94.08K |
| Non-Interest Income | 17.46M | 9.13M | 6.71M | 1.68M | 164.43K | 212.4K | 946.47K | 946.47K | 370.41K | 339.79K | 90.12K | 20.08K | 32.22K |
| Non-Interest Income % | 103.97% | 103.24% | 100.48% | 101.13% | 100% | 135% | 100% | 100% | 100% | 121.66% | 97.85% | 93.76% | 57.42% |
| Total Net Revenue | 16.79M | 8.84M | 6.68M | 1.66M | 164.43K | 157.33K | 946.47K | 946.47K | 370.41K | 279.29K | 92.1K | 21.42K | 56.12K |
| Revenue Growth % | - | 32.39% | 301.73% | 911.19% | 4.51% | -83.38% | 155.52% | 155.52% | 32.63% | 203.24% | 330.05% | -61.84% | - |
| Non-Interest Expense | 12.44M | 6.16M | 4.18M | 13.27M | 20.63M | 3.09M | 873.75K | 873.75K | 900.11K | 8.19M | 9.58M | 8.19M | 2.18M |
| Efficiency Ratio | 74.11% | 69.64% | 62.53% | 798.28% | 12546.64% | 1961.11% | 92.32% | 92.32% | 243% | 2932.25% | 10401.78% | 38254.22% | 3878.98% |
| Operating Income | -6.79M | -2.48M | 3.38M | -12.48M | -20.93M | -2.87M | 72.72K | 72.72K | -529.69K | -8.54M | -10.6M | -10.06M | -2.21M |
| Operating Margin % | -40.46% | -28.07% | 50.53% | -750.79% | -12727.18% | -1821.7% | 7.68% | 7.68% | -143% | -3057.56% | -11510.28% | -46973.25% | -3946.63% |
| Operating Income Growth % | - | -173.53% | 127.04% | 40.35% | -630.15% | -4041.55% | 113.73% | 113.73% | 93.8% | 19.45% | -5.38% | -354.2% | - |
| Pretax Income | -7.73M | -2.77M | -798.29K | -12.59M | -22.54M | -2.74M | 72.72K | 72.72K | -529.69K | -8.6M | -13.6M | -13.86M | -4.79M |
| Pretax Margin % | -46.06% | -31.28% | -11.95% | -756.92% | -13710.98% | -1741.43% | 7.68% | 7.68% | -143% | -3077.59% | -14763.08% | -64731.05% | -8537.37% |
| Income Tax | 201.88K | 103.28K | 111.37K | 0 | 0 | 0 | 0 | 0 | -830.15K | 4 | 96.51K | -49.46K | 0 |
| Effective Tax Rate % | -2.61% | -3.73% | -13.95% | 0% | 0% | 0% | 0% | 0% | 156.72% | -0% | -0.71% | 0.36% | 0% |
| Net Income | -7.94M | -2.87M | -931.71K | -12.59M | -22.54M | -2.74M | 72.72K | 72.72K | 300.45K | -8.6M | -13.69M | -13.81M | -4.79M |
| Net Margin % | -47.26% | -32.45% | -13.95% | -756.92% | -13710.98% | -1741.43% | 7.68% | 7.68% | 81.11% | -3077.59% | -14867.87% | -64500.09% | -8537.37% |
| Net Income Growth % | - | -207.98% | 92.6% | 44.18% | -722.84% | -3867.88% | -75.8% | -75.8% | 103.5% | 37.23% | 0.87% | -188.31% | - |
| Net Income (Continuing) | -7.94M | -2.87M | -909.66K | -12.59M | -22.54M | -2.74M | 72.72K | 72.72K | 300.45K | -8.6M | -13.69M | -13.81M | -4.79M |
| EPS (Diluted) | - | -1.21 | -0.39 | -5.31 | -9.51 | -2.17 | 0.06 | 0.06 | 0.23 | -9.57 | -15.43 | -12.79 | -3.00 |
| EPS Growth % | - | -210.26% | 92.66% | 44.16% | -338.25% | -3947.52% | -75.48% | -75.48% | 102.4% | 37.98% | -20.64% | -326.33% | - |
| EPS (Basic) | - | -1.21 | -0.39 | -5.31 | -9.51 | -2.17 | 0.06 | 0.06 | 0.23 | -9.57 | -15.43 | -12.79 | -3.00 |
| Diluted Shares Outstanding | 3.21M | 2.37M | 2.37M | 2.37M | 2.37M | 1.26M | 1.29M | 1.29M | 1.29M | 898.1K | 887.69K | 1.08M | 1.32M |
Quick answers to the most common questions about buying ABTS stock.
For fiscal year 2025, Abits Group Inc. (ABTS) reported total revenue of $8.8M. This represents a 15656.0% increase compared to $0.1M in 2014.
Abits Group Inc. (ABTS) reported a net loss of $2.9M for the fiscal year ending 2025.
Abits Group Inc. (ABTS) reported an operating income of $-2.5M, resulting in an operating profit margin of -28.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Abits Group Inc. (ABTS) generated $3.7M in gross profit for the year, representing a gross profit margin of 41.6%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Liquidity and operational insolvency
Volatile Revenue Amid Strategic Pivot
According to historical financial data, ABTS exhibits highly erratic revenue patterns, with quarterly figures fluctuating between $7.3K and $4.0M, suggesting that the company's transition to digital asset mining has yet to establish a predictable or sustainable growth trajectory in the competitive Bitcoin mining landscape.
The lack of consistent revenue growth indicates that the company's hash rate capacity is likely insufficient or subject to frequent operational interruptions. Investors should monitor whether the company can stabilize its output, as the current top-line volatility appears to reflect a business model that is highly sensitive to external network difficulty rather than internal operational scaling.
Structural Margin Instability and Compression
As reported in recent income statements, gross margins have swung wildly from -101.7% to 78.5%, highlighting a lack of structural cost control and suggesting that the company's mining operations are frequently unable to cover the direct costs of electricity and hardware maintenance in a competitive market.
The extreme variance in gross margins implies that the company lacks the economies of scale necessary to maintain profitability during periods of high network difficulty. This inconsistency suggests that the underlying mining fleet may be inefficient, forcing the company to operate at a loss whenever Bitcoin spot prices fail to offset high energy inputs.
Operating Inefficiency Hinders Scalability
Based on the provided financial figures, the company's operating margins remain deeply negative, frequently dipping below -300% in earlier periods, which indicates that corporate overhead and SG&A expenses are disproportionately high relative to the limited revenue generated by its current digital asset mining infrastructure.
The inability to achieve positive operating leverage suggests that the company's administrative cost structure is misaligned with its operational output. Without a significant increase in hash rate or a reduction in fixed overhead, the company appears unlikely to achieve the operating scale required to reach sustainable profitability.
Existential Risks to Operational Continuity
Data from recent filings indicates a critical liquidity shortage, with cash reserves of only $94,132, which warrants significant concern regarding the company's ability to fund ongoing operations or necessary hardware upgrades without resorting to dilutive equity financing that could further erode shareholder value in the near term.
The combination of negative net income and negligible cash reserves suggests that the company is in a precarious financial position. Investors should consider the high probability that the company may be forced to issue additional shares or liquidate assets, which would likely exacerbate the downward pressure on the stock price.