Revenue volatility remains a critical concern, highlighted by a 43.4% year-over-year contraction in 2026Q1 and an unstable gross margin profile that fluctuated between -54.9% and 81.5% over the last nine quarters.
| Sales/Revenue | 17.15M | 18.08M | 31.3M | 10.43M | 8.94M | 8.58M | 5.46M | 3.58M | 76.94M | 2.86M | 1.84M | 1.39M | 557.21K |
| Revenue Growth % | -39.92% | -42.23% | 200.2% | 16.59% | 4.26% | 57.08% | 52.69% | -95.35% | 2590.15% | 55.25% | 32.58% | 149.35% | - |
| Cost of Goods Sold | 19.55M | 20.4M | 23.69M | 8.81M | 9.46M | 7.07M | 4.89M | 3.7M | 52.84M | 1.92M | 1.48M | 1.31M | 830.55K |
| COGS % of Revenue | - | 112.81% | 75.69% | 84.49% | 105.75% | 82.47% | 89.56% | 103.46% | 68.68% | 67.19% | 80.23% | 94.19% | 149.06% |
| Gross Profit | -2.4M | -2.32M | 7.61M | 1.62M | -513.97K | 1.5M | 570.15K | -123.85K | 24.1M | 938.41K | 364.2K | 80.78K | -273.34K |
| Gross Margin % | -14% | -12.81% | 24.31% | 15.51% | -5.75% | 17.53% | 10.44% | -3.46% | 31.32% | 32.81% | 19.77% | 5.81% | -49.06% |
| Gross Profit Growth % | - | -130.44% | 370.42% | 414.69% | -134.19% | 163.69% | 560.34% | -100.51% | 2468.11% | 157.67% | 350.88% | 129.55% | - |
| Operating Expenses | 27.96M | 30.23M | 39.24M | 44.86M | 51.7M | 17.95M | 11.2M | 17.67M | 41.73M | 6.92M | 11.04M | 11.69M | 6.64M |
| OpEx % of Revenue | - | 167.21% | 125.38% | 430.3% | 578.15% | 209.34% | 205.21% | 494.09% | 54.25% | 241.96% | 599.48% | 841.54% | 1192.44% |
| Selling, General & Admin | 20.27M | 22.86M | 33.69M | 37.14M | 39.35M | 16.01M | 9.52M | 11.92M | 41.73M | 6.72M | 10.6M | 10.94M | 6.22M |
| SG&A % of Revenue | - | 126.45% | 107.63% | 356.24% | 440.04% | 186.63% | 174.35% | 333.45% | 54.25% | 234.94% | 575.54% | 787.73% | 1115.38% |
| Research & Development | 2.51M | 2.81M | 5.16M | 7.72M | 6.36M | 1.48M | 1.37M | 2.15M | 0 | 200.67K | 440.87K | 747.64K | 429.42K |
| R&D % of Revenue | - | 15.56% | 16.49% | 74.06% | 71.16% | 17.24% | 25.01% | 60.01% | - | 7.02% | 23.93% | 53.81% | 77.07% |
| Other Operating Expenses | 3.59M | 4.56M | 393.87K | 0 | 5.99M | 469.7K | 319.82K | 3.6M | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -30.36M | -32.55M | -31.63M | -43.24M | -52.21M | -16.45M | -10.63M | -17.79M | -17.63M | -5.98M | -10.68M | -11.61M | -6.92M |
| Operating Margin % | -177.01% | -180.02% | -101.07% | -414.79% | -583.9% | -191.81% | -194.77% | -497.55% | -22.92% | -209.15% | -579.71% | -835.73% | -1241.5% |
| Operating Income Growth % | - | -2.9% | 26.85% | 17.17% | -217.36% | -54.7% | 40.23% | -0.89% | -194.83% | 43.99% | 8.04% | -67.85% | - |
| EBITDA | -31.27M | -28.42M | -24.98M | -37.08M | -49.64M | -15.18M | -8.6M | -15.3M | -16M | -5.93M | -10.67M | -11.59M | -6.89M |
| EBITDA Margin % | -182.36% | -157.21% | -79.82% | -355.64% | -555.15% | -177.01% | -157.42% | -427.99% | -20.79% | -207.31% | -578.99% | -834.48% | -1236.14% |
| EBITDA Growth % | -34.22% | -13.78% | 32.62% | 25.31% | -226.96% | -76.64% | 43.84% | 4.33% | -169.82% | 44.41% | 8.01% | -68.33% | - |
| D&A (Non-Cash Add-back) | 0 | 4.12M | 6.65M | 6.17M | 2.57M | 1.27M | 2.04M | 2.49M | 1.64M | 52.52K | 13.21K | 17.42K | 29.86K |
| EBIT | -31.27M | -32.55M | -31.63M | -43.24M | -52.21M | -15.35M | -3.79M | -18.45M | -31.93M | -5.66M | -10.68M | -10.91M | -18.17M |
| Net Interest Income | -246.23K | -452.99K | -183.66K | 0 | -844.23K | -1.07M | -1.41M | -1.06M | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 246.23K | 452.99K | 183.66K | 0 | 844.23K | 1.07M | 1.41M | 1.06M | 2.78M | 129.6K | 118.15K | 8.15M | 2.91M |
| Other Income/Expense | -37.28M | -36.39M | -2.52M | -2.82M | -59.93M | 29.63K | 5.44M | -1.71M | -17.08M | 191.56K | -119.94K | -7.45M | -14.16M |
| Pretax Income | -67.64M | -68.94M | -34.15M | -46.06M | -112.15M | -16.42M | -5.2M | -19.51M | -34.71M | -5.79M | -10.8M | -19.06M | -21.08M |
| Pretax Margin % | -394.42% | -381.3% | -109.11% | -441.8% | -1254.16% | -191.47% | -95.18% | -545.47% | -45.12% | -202.45% | -586.22% | -1372.05% | -3782.81% |
| Income Tax | -54.21K | -52.92K | -35.52K | 8.99K | 0 | 0 | 0 | 0 | -875.76K | -52.52K | 5 | 0 | 2 |
| Effective Tax Rate % | 0.08% | 0.08% | 0.1% | -0.02% | 0% | 0% | 0% | 0% | 2.52% | 0.91% | -0% | 0% | -0% |
| Net Income | -71.24M | -72.98M | -44.87M | -54.2M | -110.09M | -16.42M | -5.17M | -19.47M | -33.83M | -5.79M | -10.8M | -19.06M | -21.08M |
| Net Margin % | -415.39% | -403.66% | -143.36% | -519.86% | -1231.16% | -191.47% | -94.61% | -544.37% | -43.98% | -202.45% | -586.22% | -1372.05% | -3782.81% |
| Net Income Growth % | -72.52% | -62.66% | 17.22% | 50.77% | -570.38% | -217.89% | 73.46% | 42.47% | -484.38% | 46.38% | 43.35% | 9.56% | - |
| Net Income (Continuing) | -67.59M | -68.89M | -34.11M | -46.07M | -112.15M | -16.42M | -5.2M | -19.51M | -33.83M | -5.79M | -10.8M | -19.06M | -21.08M |
| Discontinued Operations | -2.19M | -4.14M | -10.8M | -8.29M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 84.16K | 97.81K | 122.21K | -4.24K | -477.13K | 0 | -28.64K | 10.57K | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -48.62 | -87.21 | -87.00 | -106.80 | -250.80 | -37.80 | -12.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 |
| EPS Growth % | 0.32% | -0.24% | 18.54% | 57.42% | -563.49% | -215% | 100% | 90.84% | 93.17% | 50.25% | 46.45% | 9.56% | - |
| EPS (Basic) | - | -87.21 | -87.00 | -106.80 | -250.80 | -37.80 | -12.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 |
| Diluted Shares Outstanding | 1.47M | 836.81K | 514.02K | 507.08K | 438.87K | 435.43K | 435.43K | 17 | 3 | 0 | 0 | 0 | 0 |
| Basic Shares Outstanding | 1.47M | 836.81K | 514.02K | 507.08K | 438.87K | 435.43K | 435.43K | 17 | 3 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity and solvency crisis
As reported in recent financial filings, Cenntro experienced a 43.4% year-over-year revenue decline in 2026Q1, highlighting a persistent inability to maintain consistent order flow or establish a predictable commercial footprint within the highly competitive light-duty electric vehicle market segment for fleet operators.
The erratic revenue performance suggests that the company's business model remains tethered to lumpy, non-recurring fleet orders rather than a scalable, recurring revenue stream. This lack of growth durability, combined with the sharp contraction in recent periods, indicates that the company is struggling to gain meaningful traction against more established commercial EV competitors.
Based on the provided income statement data, the company's gross margin profile remains highly unstable, oscillating between extreme highs and deep negative territory, which suggests a fundamental failure to achieve unit-level economics or effective cost control in its manufacturing and assembly operations.
The inconsistency in gross margins, including the -54.9% reported in 2025Q4, implies that the company lacks the pricing power or manufacturing efficiency required to cover its direct production costs. Investors should monitor whether this volatility stems from inventory impairment charges or an inability to pass through rising component costs to end-customers.
According to historical income statements, the company's operating margin has consistently remained in deep negative territory, with the most recent figures showing a failure to scale revenue sufficiently to offset the heavy corporate overhead required to maintain its global manufacturing and administrative footprint.
The disconnect between revenue generation and operating expenses indicates that the company is currently unable to leverage its fixed cost base. Without a significant and sustained increase in production volume, the current operating structure appears to be a permanent drag on shareholder value, necessitating constant external capital injections.
Analysis of the company's financial trajectory suggests that the market may be mispricing the entity as a growth-stage EV manufacturer, when the underlying data points toward a distressed business model characterized by severe cash burn and a lack of sustainable competitive advantages.
Short-sellers would likely focus on the company's reliance on dilutive equity financing to sustain operations, given the absence of positive cash flow and the rapid depletion of cash reserves. The lack of proprietary technology or a defensible moat suggests that the company may face significant challenges in surviving a prolonged period of high interest rates and sector-wide capital constraints.
Quick answers to the most common questions about buying CENN stock.
For fiscal year 2025, Cenntro Electric Group Limited (CENN) reported total revenue of $18.1M. This represents a 3144.8% increase compared to $0.6M in 2014.
Cenntro Electric Group Limited (CENN) reported a net loss of $73.0M for the fiscal year ending 2025.
Cenntro Electric Group Limited (CENN) reported an operating income of $-32.5M, resulting in an operating profit margin of -180.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Cenntro Electric Group Limited (CENN) generated $-2.3M in gross profit for the year, representing a gross profit margin of -12.8%. This demonstrates the company's core pricing power and production efficiency.