The company struggles with structural unprofitability, evidenced by a 2024Q4 net margin of -142.8% and negative gross margins of -20.2%.
Chaince Digital Holdings Inc. (CD) annual income statement — 14-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Sales/Revenue | 2.8M | 1.87M | 1.01M | 445.93K | 863.44K | 670.17K | 1.4M | 1.74M | 36.46M | 88.74M | 73.2M | - | - | - | - |
| Revenue Growth % | - | 85.33% | 125.92% | -48.35% | 28.84% | -52.21% | -19.32% | -95.23% | -58.92% | 21.22% | - | - | - | - | - |
| Cost of Goods Sold | 1.43M | 666.36K | 1.38M | 1.42M | 1.38M | 702.68K | 154.27K | 257.02K | 35.58M | 88.19M | 72.86M | - | - | - | - |
| COGS % of Revenue | - | 35.69% | 137.27% | 319.4% | 159.9% | 104.85% | 11% | 14.79% | 97.6% | 99.38% | 99.53% | - | - | - | - |
| Gross Profit | 1.37M | 1.2M | -375.51K | -978.38K | -517.16K | -32.51K | 1.33M | 1.48M | 876.08K | 548.77K | 344K | -1.74M | 23.03M | 29.67M | 20.63M |
| Gross Margin % | - | 64.31% | -37.27% | -219.4% | -59.9% | -4.85% | 94.65% | 85.21% | 2.4% | 0.62% | 0.47% | -15.18% | 76.59% | 81.84% | 74.17% |
| Gross Profit Growth % | - | 419.76% | 61.62% | -89.18% | -1490.88% | -102.45% | -10.38% | 69.05% | 59.64% | 59.53% | - | -107.57% | -22.37% | 43.82% | - |
| Operating Expenses | 6.77M | 4.51M | 4.24M | 7.52M | 5.37M | 13.27M | 1.99M | 1.03M | 10.1M | 21.9M | 27.94M | 18.27M | 66.7M | 59.71M | 59.5M |
| OpEx % of Revenue | - | 241.66% | 421% | 1686.6% | 621.73% | 1980.66% | 142.05% | 58.98% | 27.69% | 24.68% | 38.16% | 159.2% | 221.8% | 164.69% | 213.9% |
| Selling, General & Admin | 4.76M | 4M | 2.19M | 2.97M | 2.19M | 12.1M | 2.12M | 1.03M | 10.1M | 21.9M | 27.94M | 18.27M | 66.7M | 59.71M | 59.5M |
| SG&A % of Revenue | - | 214.28% | 217.1% | 664.95% | 253.76% | 1805.85% | 151.45% | 58.98% | 27.69% | 24.68% | 38.16% | 159.2% | 221.8% | 164.69% | 213.9% |
| Research & Development | 230.86K | 147.32K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | - | - | - |
| R&D % of Revenue | - | 7.89% | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1.28M | 363.82K | 2.05M | 4.56M | 3.18M | 1.17M | -131.87K | 0 | -33.19K | 27.92K | 39K | - | - | - | - |
| Operating Income | -5.4M | -3.31M | -4.62M | -8.5M | -5.89M | -13.31M | 166.58K | 455.83K | -124.4M | -168.37M | -27.59M | -105.95M | -43.67M | -32.07M | -38.87M |
| Operating Margin % | - | -177.49% | -458.28% | -1906% | -681.62% | -1985.51% | 11.88% | 26.23% | -341.24% | -189.74% | -37.69% | -923.1% | -145.21% | -88.47% | -139.73% |
| Operating Income Growth % | - | 28.22% | 45.68% | -44.42% | 55.77% | -8088.14% | -63.46% | 100.37% | 26.12% | -510.22% | - | -142.62% | -36.16% | 17.48% | - |
| EBITDA | -5.14M | -3.31M | -3.94M | -7.6M | -5.86M | -12.13M | -693.32K | 1.96M | -122.89M | -159.75M | -18.69M | -101M | -41.8M | -29.72M | -36.1M |
| EBITDA Margin % | - | -177.35% | -391.2% | -1704.41% | -678.27% | -1810.7% | -49.44% | 113.04% | -337.1% | -180.02% | -25.53% | -879.98% | -139.01% | -81.98% | -129.78% |
| EBITDA Growth % | - | 15.98% | 48.15% | -29.78% | 51.74% | -1650.25% | -135.29% | 101.6% | 23.07% | -754.63% | - | -141.61% | -40.66% | 17.67% | - |
| D&A (Non-Cash Add-back) | 257.29K | 2.59K | 675.72K | 898.97K | 28.95K | 0 | 0 | 1.51M | 1.51M | 8.63M | 8.9M | 4.95M | 1.86M | 2.35M | 2.77M |
| EBIT | -5.1M | -3.31M | -2.79M | -8.8M | -2.71M | -12.13M | -693.32K | 482.97K | -116.99M | -168.34M | -27.59M | -20.01M | -4.32M | -32.12M | -38.86M |
| Net Interest Income | 794.25K | 477.15K | 204.07K | -646.05K | 5.12K | 1.08K | 7.98K | 279 | 0 | 0 | 26.15K | 7.39K | -5K | -92.79K | -203.24K |
| Interest Income | 1.01M | 611.6K | 586.67K | 227.08K | 5.12K | 1.08K | 7.98K | 279 | 0 | 0 | 26.15K | 7.39K | 7K | 43.87K | 20.56K |
| Interest Expense | 219.73K | 134.45K | 382.6K | 873.13K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12K | 136.66K | 223.8K |
| Other Income/Expense | 1.98M | 938.64K | 419.42K | -948.58K | 1.7K | 940 | -24.55K | 311.47K | -123.53M | -167.32M | 65.5K | - | - | - | - |
| Pretax Income | -3.42M | -2.38M | -4.2M | -9.45M | -5.88M | -13.31M | -693.32K | 482.97K | -125.34M | -168.76M | -27.53M | -105.9M | -43.87M | -32.25M | -39.08M |
| Pretax Margin % | - | -127.22% | -416.65% | -2118.72% | -681.43% | -1985.37% | -49.44% | 27.79% | -343.81% | -190.18% | -37.6% | -922.63% | -145.88% | -88.97% | -140.49% |
| Income Tax | -79.38K | -82.25K | 336.99K | -90.78K | -248.71K | 0 | 0 | 1.71M | -2.1M | -6.86M | -2.23M | -1.25M | -81K | -80.52K | -68.67K |
| Effective Tax Rate % | 2.32% | 3.46% | -8.03% | 0.96% | 4.23% | 0% | 0% | 353.64% | 1.67% | 4.06% | 8.12% | 1.18% | 0.18% | 0.25% | 0.18% |
| Net Income | -6.9M | -5.1M | -4.53M | -9.36M | -5.63M | -21.67M | -1.65M | -1.23M | -123.24M | -161.9M | -25.29M | -93.57M | -43.86M | -32.17M | -39.01M |
| Net Margin % | - | -273.04% | -450.1% | -2098.36% | -652.62% | -3232.86% | -117.75% | -70.48% | -338.06% | -182.45% | -34.55% | -815.25% | -145.83% | -88.74% | -140.25% |
| Net Income Growth % | - | -12.43% | 51.54% | -66.06% | 73.99% | -1212.06% | -34.8% | 99.01% | 23.88% | -540.09% | - | -113.36% | -36.32% | 17.53% | - |
| Net Income (Continuing) | -3.34M | -2.29M | -4.53M | -9.36M | -5.63M | -13.31M | -1.65M | 0 | -1.81M | -161.9M | -25.29M | -104.65M | -4.32M | -32.17M | -39.01M |
| Discontinued Operations | -458.55K | -2.8M | 0 | 0 | 0 | -8.36M | -957.96K | 0 | 0 | 0 | 0 | 0 | -39.55M | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 43K | 0 | 0 |
| EPS (Diluted) | - | -0.08 | -0.07 | -0.20 | -0.43 | -2.48 | -0.10 | -0.00 | -0.08 | -0.11 | -0.02 | -0.09 | -57.73 | -5.57 | -72.98 |
| EPS Growth % | - | -7.65% | 62.75% | 53.49% | 82.66% | -2380% | - | 98.08% | 24.09% | -539.53% | - | 99.84% | -936.45% | 92.37% | - |
| EPS (Basic) | - | -0.08 | -0.07 | -0.20 | -0.43 | -2.48 | -0.10 | -0.00 | -0.08 | -0.11 | -0.02 | -0.09 | -58.26 | -5.57 | -72.98 |
| Diluted Shares Outstanding | 78.05M | 63.56M | 60.85M | 45.84M | 12.99M | 8.75M | 5.99M | 2.15M | 4.1M | 4.1M | 4.09M | 2.78M | 759.72K | 5.77M | 775.47K |
| Basic Shares Outstanding | 78.05M | 63.56M | 60.85M | 45.84M | 12.99M | 8.75M | 5.99M | 2.15M | 4.1M | 4.1M | 4.09M | 2.78M | 752.75K | 5.77M | 775.47K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying CD stock.
For fiscal year 2025, Chaince Digital Holdings Inc. (CD) reported total revenue of $1.9M. This represents a 86.7% increase compared to $1.0M in 2012.
Chaince Digital Holdings Inc. (CD) reported a net loss of $5.1M for the fiscal year ending 2025.
Chaince Digital Holdings Inc. (CD) reported an operating income of $-3.3M, resulting in an operating profit margin of -177.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Chaince Digital Holdings Inc. (CD) generated $1.2M in gross profit for the year, representing a gross profit margin of 64.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Structural Unprofitability and Burn
Metrics are mathematically derived from official filings.
Revenue Volatility Masks Scaling Challenges
According to historical financial data, Mercurity Fintech Holding's revenue remains highly inconsistent, fluctuating between $80.3K and $783.1K per quarter, which suggests that the company has yet to establish a predictable or scalable commercial footprint within the competitive Asia-Pacific digital asset and infrastructure services market.
The lack of consistent revenue growth indicates that the company's pivot to blockchain services has not yet yielded a repeatable sales cycle. Investors should monitor whether the current revenue base is driven by one-off project milestones or if there is any underlying demand for recurring software licensing.
Negative Gross Margins Impede Viability
As reported in recent income statements, the company consistently records negative gross margins, including a -20.2% figure in 2024Q4, which implies that the direct costs of providing blockchain infrastructure and mining services currently exceed the revenue generated from these activities by a significant margin.
This structural margin deficiency suggests that the company's core service offerings are not yet priced to cover their own variable costs. Without a fundamental shift in cost management or pricing power, the business model appears to be inherently value-destructive at its current scale.
Operating Expenses Outpace Revenue Generation
Based on the provided income statement data, Mercurity Fintech Holding maintains a high fixed-cost structure, with SG&A expenses frequently exceeding $1 million per quarter, which dwarfs the company's quarterly revenue and results in persistent, deep operating losses that show little evidence of meaningful operating leverage.
The inability to scale operating income alongside revenue suggests that administrative and overhead costs are not being managed with sufficient discipline. This disconnect between spending and top-line performance warrants further investigation into the efficiency of the company's current operational footprint.
Earnings Quality Impacted by Volatility
Financial statements indicate that net income is frequently distorted by non-operating items and historical stock-based compensation, with net margins reaching as low as -142.8% in 2024Q4, suggesting that reported losses are exacerbated by factors beyond simple operational inefficiency in the company's core business segments.
The reliance on non-operational adjustments and the history of significant stock-based compensation in earlier periods suggest that shareholders should be cautious regarding the quality of reported earnings. The current net loss profile appears to be a reflection of both high operational burn and potential legacy accounting complexities.
Speculative Pivot Risks Capital Erosion
While the company maintains a cash balance of $23.9 million, the persistent burn rate and lack of a clear path to profitability suggest that the current capital allocation strategy may be unsustainable, potentially forcing future dilutive financing if the business fails to reach a positive inflection point.
Short-term observers might argue that the company's cash position provides a buffer, but the fundamental trend of spending significantly more than it earns suggests that this capital is being eroded rather than invested in a viable business. The pivot from food services to fintech remains an unproven strategy.