The company's core profitability remains under pressure, with gross margins contracting to 3.9% in 2026Q1 alongside a persistent operating margin of -6.2%.
| 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 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Sep'07 | Sep'06 | Sep'05 | Sep'04 | Dec'03 | Dec'02 | Dec'01 |
|---|
| Sales/Revenue | 3.49M | 3.83M | 2.16M | 21.7M | 23.88M | 25.05M | 368.73K | 941.12K | 888.67K | 10.46M | 34.41M | 86.44M | 99.06M | 78.99M | 102.36M | 84.02M | 93.25M | 59.25M | 41.65M | 29.36M | 4.6M | 5.1M | 1.7M | 0 | 0 | 198 |
| Revenue Growth % | 154.98% | 77.47% | -90.05% | -9.14% | -4.67% | 6693.93% | -60.82% | 5.9% | -91.51% | -69.59% | -60.2% | -12.74% | 25.41% | -22.83% | 21.82% | -9.9% | 57.38% | 42.26% | 41.85% | 538.86% | -9.86% | 199.4% | - | - | -100% | - |
| Cost of Goods Sold | 3.15M | 3.57M | 886.11K | 20.58M | 18.49M | 23.25M | 35.02K | 491.13K | 975.04K | 8.73M | 25.23M | 60.32M | 69.78M | 51.43M | 69.28M | 56.99M | 55.23M | 33.87M | 23.61M | 18.66M | 2.64M | 3.6M | 1.31M | 0 | 0 | 0 |
| COGS % of Revenue | - | 93.32% | 41.06% | 94.83% | 77.41% | 92.81% | 9.5% | 52.19% | 109.72% | 83.43% | 73.34% | 69.78% | 70.45% | 65.12% | 67.69% | 67.83% | 59.23% | 57.16% | 56.68% | 63.53% | 57.44% | 70.64% | 76.92% | - | - | - |
| Gross Profit | 338.06K | 255.66K | 1.27M | 1.12M | 5.39M | 1.8M | 333.7K | 449.99K | -86.37K | 1.73M | 9.17M | 26.13M | 29.28M | 27.55M | 33.07M | 27.03M | 38.02M | 25.38M | 18.04M | 10.71M | 1.96M | 2.62M | 393.06K | 0 | 0 | 198 |
| Gross Margin % | 9.69% | 6.68% | 58.94% | 5.17% | 22.59% | 7.19% | 90.5% | 47.81% | -9.72% | 16.57% | 26.66% | 30.22% | 29.55% | 34.88% | 32.31% | 32.17% | 40.77% | 42.84% | 43.32% | 36.46% | 42.56% | 51.44% | 23.08% | - | - | 100% |
| Gross Profit Growth % | - | -79.9% | 13.41% | -79.21% | 199.39% | 440% | -25.84% | 620.99% | -104.98% | -81.1% | -64.89% | -10.77% | 6.26% | -16.69% | 22.37% | -28.9% | 49.78% | 40.69% | 68.5% | 447.38% | -25.43% | 567.33% | - | - | -100% | - |
| Operating Expenses | 4.52M | 34.26M | 35.18M | 24.71M | 22.21M | 15.01M | 15.38M | 8.03M | 190.43M | 100.82M | 6.93M | 15.88M | 11.83M | 9.38M | 7.88M | 7.98M | 5.96M | 4.45M | 4.99M | 1.69M | 2.16M | 2.84M | 16.38M | 2.47K | 22.5K | 8.01K |
| OpEx % of Revenue | - | 894.64% | 1630.35% | 113.9% | 93% | 59.92% | 4171.19% | 853.58% | 21428.68% | 963.6% | 20.13% | 18.37% | 11.95% | 11.87% | 7.7% | 9.5% | 6.39% | 7.52% | 11.98% | 5.75% | 46.93% | 55.78% | 961.77% | - | - | 4045.96% |
| Selling, General & Admin | 4.96M | 5.19M | 7.52M | 11M | 16.26M | 13.53M | 10.05M | 2.87M | 12.13M | 11.14M | 6.94M | 15.88M | 13.09M | 9.36M | 7.31M | 7.87M | 5.05M | 3.35M | 4.28M | 1.66M | 195.65K | 2.28M | 6.03M | 2.47K | 22.5K | 8.01K |
| SG&A % of Revenue | - | 135.56% | 348.47% | 50.7% | 68.1% | 54.02% | 2725.94% | 305.42% | 1365.41% | 106.43% | 20.18% | 18.37% | 13.22% | 11.84% | 7.14% | 9.36% | 5.41% | 5.66% | 10.29% | 5.64% | 4.26% | 44.76% | 353.79% | - | - | 4045.96% |
| Research & Development | 0 | 0 | 312.87K | 340.41K | 2.67M | 698.12K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20.18K | 570.28K | 557.36K | 1.09M | 1.1M | 449.69K | 30.88K | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 14.5% | 1.57% | 11.19% | 2.79% | - | - | - | - | - | - | - | 0.03% | 0.56% | 0.66% | 1.17% | 1.86% | 1.08% | 0.11% | - | - | - | - | - | - |
| Other Operating Expenses | -156.48K | 29.07M | 27.35M | 13.37M | 3.27M | 780.33K | 5.33M | 5.16M | 178.3M | 89.69M | -16K | -1.27K | -1.26M | 0 | 196 | -444.88K | -176.67K | -342 | 254.31K | -356 | 1.96M | 562K | 10.35M | 0 | 0 | 0 |
| Operating Income | -4.19M | -34.01M | -33.91M | -23.59M | -16.81M | -13.21M | -15.05M | -7.58M | -190.52M | -99.09M | 2.23M | 10.24M | 17.44M | 18.18M | 25.2M | 19.05M | 31.88M | 20.93M | 13.05M | 9.02M | -200K | -139.07K | -15.99M | -2.47K | -22.5K | -7.81K |
| Operating Margin % | -119.94% | -887.96% | -1571.41% | -108.73% | -70.41% | -52.73% | -4080.69% | -805.76% | -21438.44% | -947.02% | 6.48% | 11.85% | 17.61% | 23.01% | 24.62% | 22.67% | 34.19% | 35.32% | 31.34% | 30.71% | -4.35% | -2.73% | -938.7% | - | - | -3945.96% |
| Operating Income Growth % | - | -0.28% | -43.74% | -40.31% | -27.29% | 12.21% | -98.42% | 96.02% | -92.27% | -4541.37% | -78.22% | -41.27% | -4.04% | -27.85% | 32.26% | -40.25% | 52.36% | 60.32% | 44.74% | 4609.22% | -43.82% | 99.13% | -646582.85% | 89.01% | -187.94% | - |
| EBITDA | -4.01M | -33.85M | -33.64M | -23.33M | -16.57M | -13.15M | -14.96M | -7.58M | -180.72M | -95.89M | 7.66M | 17.86M | 23.04M | 23.35M | 29.79M | 22.6M | 34.28M | 22.94M | 14.96M | 10.47M | 395.46K | 445.41K | -15.94M | -2.47K | -22.5K | -7.81K |
| EBITDA Margin % | -114.87% | -883.97% | -1559.07% | -107.54% | -69.37% | -52.48% | -4058.4% | -805.41% | -20335.56% | -916.51% | 22.25% | 20.66% | 23.26% | 29.56% | 29.11% | 26.9% | 36.76% | 38.71% | 35.91% | 35.67% | 8.6% | 8.74% | -935.83% | - | - | -3945.96% |
| EBITDA Growth % | 93.5% | -0.62% | -44.19% | -40.86% | -26.01% | 12.15% | -97.42% | 95.81% | -88.45% | -1352.37% | -57.13% | -22.47% | -1.32% | -21.63% | 31.81% | -34.06% | 49.43% | 53.37% | 42.8% | 2548.44% | -11.21% | 102.79% | -644605.66% | 89.01% | -187.94% | - |
| D&A (Non-Cash Add-back) | 177.05K | 152.66K | 266.29K | 258.4K | 248.7K | 62.9K | 82.19K | 3.3K | 9.8M | 3.19M | 5.43M | 7.62M | 5.6M | 5.17M | 4.6M | 3.55M | 2.39M | 2.01M | 1.9M | 1.46M | 595.46K | 584.47K | 48.88K | 0 | 0 | 0 |
| EBIT | -1.21M | -34.01M | -34.13M | -32.82M | -13.49M | -11.73M | -29.9M | -10.59M | -188.13M | -98.96M | 2.63M | 11.8M | 17.44M | 19.79M | 26.94M | 20.07M | 32.3M | 23.25M | 13.79M | 9.14M | -200K | -139K | -15.99M | 0 | 0 | -7.81K |
| Net Interest Income | 164.48K | -86.84K | 997.22K | 1.31M | 1.31M | 262.45K | -372K | -520K | -1.62M | -3.07M | -1.5M | -3.53M | -3.88M | -1.66M | -574K | -572K | -693K | -749K | -868K | -52.33K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 360.57K | 61.81K | 1.11M | 1.31M | 1.31M | 277.27K | 464 | 3.9K | 1.37K | 1.88K | 158.73K | 351.92K | 666.47K | 319.62K | 314.63K | 277.46K | 108.34K | 68.5K | 63.77K | 18.3K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 196.09K | 148.65K | 108.45K | 892 | 0 | 14.82K | 372.17K | 523.68K | 1.63M | 3.08M | 1.66M | 3.88M | 4.55M | 1.98M | 888.57K | 849.74K | 801.5K | 817.76K | 932.05K | 70.62K | 0 | 1.01M | 0 | 3.56K | 12.28K | 0 |
| Other Income/Expense | 2.91M | 3.06M | -323K | -9.23M | 3.32M | 1.47M | -15.23M | -3.53M | 764.5K | -2.95M | -1.26M | -2.33M | -4.48M | -368K | 859.61K | 171.94K | -389K | 1.5M | -198K | 47.62K | -1.31M | -1.01M | 15.99M | -3.56K | -12.28K | 0 |
| Pretax Income | -1.28M | -30.95M | -34.23M | -32.82M | -13.49M | -11.74M | -30.28M | -11.11M | -189.75M | -102.03M | 968.13K | 7.91M | 12.96M | 17.81M | 26.05M | 19.22M | 31.49M | 22.43M | 12.86M | 9.07M | -1.51M | -1.15M | -28.92M | -6.03K | -34.77K | -7.81K |
| Pretax Margin % | -36.57% | -808.04% | -1586.38% | -151.26% | -56.5% | -46.88% | -8210.92% | -1180.48% | -21352.36% | -975.2% | 2.81% | 9.16% | 13.08% | 22.55% | 25.45% | 22.88% | 33.77% | 37.86% | 30.87% | 30.88% | -32.8% | -22.53% | -1698% | - | - | -3945.96% |
| Income Tax | 0 | 0 | 0 | 7.83K | 517.1K | 73.4K | 0 | 0 | 237 | 266.12K | 1.6M | 4.27M | 4.33M | 4.64M | 6.87M | 5.09M | 8.52M | 6.03M | 2.23M | 1.11M | 0 | 0 | 28.92M | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | -0.02% | -3.83% | -0.63% | 0% | 0% | -0% | -0.26% | 165.47% | 53.92% | 33.42% | 26.05% | 26.37% | 26.48% | 27.06% | 26.87% | 17.36% | 12.23% | 0% | 0% | -100% | 0% | 0% | 0% |
| Net Income | -1.32M | -4.62M | -32.96M | -33.65M | -13.63M | -13.6M | 88.93M | -25.23M | -170M | -102.58M | -5.29M | 2.95M | 7.87M | 12.17M | 18.17M | 13.21M | 21.18M | 15.19M | 10.01M | -3.19M | -1.47M | -1.23M | -28.92M | -6.03K | -34.77K | -7.81K |
| Net Margin % | -37.88% | -120.63% | -1527.15% | -155.1% | -57.07% | -54.27% | 24118.26% | -2680.74% | -19129.37% | -980.45% | -15.38% | 3.41% | 7.95% | 15.41% | 17.75% | 15.72% | 22.71% | 25.64% | 24.03% | -10.87% | -31.96% | -24.14% | -1698% | - | - | -3945.96% |
| Net Income Growth % | 96.14% | 85.98% | 2.07% | -146.94% | -0.24% | -115.29% | 452.49% | 85.16% | -65.71% | -1838.11% | -279.48% | -62.53% | -35.32% | -33.03% | 37.6% | -37.66% | 39.45% | 51.74% | 413.69% | -117.22% | -19.33% | 95.74% | -479531.78% | 82.66% | -345.08% | - |
| Net Income (Continuing) | -1.28M | -30.95M | -34.23M | -32.83M | -14.01M | -11.82M | -30.28M | -11.11M | -189.75M | -102.3M | -634K | 3.65M | 8.63M | 13.17M | 19.18M | 14.13M | 22.97M | 16.41M | 10.62M | 7.96M | -1.51M | -1.15M | -15.99M | -6.03K | -34.77K | -7.81K |
| Discontinued Operations | -45.87K | 28.19M | 1.24M | -1.19M | -307K | -2.39M | 119.21M | -15.96M | 4.01M | -14.66M | -4.79M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38.53K | -81.95K | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | -1.87M | -1.57M | -1.28M | -590.76K | -47.46K | 4.36M | 4.6M | 20.34M | 35.16M | 4.9M | 4.69M | 8.42M | 6.94M | 5.9M | 4.73M | 2.76M | 1.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.26 | -2.32 | -15.70 | -22.80 | -9.30 | -6.50 | 30.76 | -4.00 | -392.85 | -183.45 | -13.30 | 43.97 | 24.00 | 36.80 | 27.20 | 40.00 | 73.60 | 67.20 | 44.80 | -3753.79 | -1793.11 | -986.19 | -22124.78 | -19.36 | -624.31 | -139.52 |
| EPS Growth % | 100.1% | 85.22% | 31.14% | -145.16% | -43.08% | -121.13% | 869% | 98.98% | -114.15% | -1279.32% | -130.25% | 83.21% | -34.78% | 35.29% | -32% | -45.65% | 9.52% | 50% | 101.19% | -109.35% | -81.82% | 95.54% | -114180.89% | 96.9% | -347.47% | - |
| EPS (Basic) | - | -2.32 | -15.75 | -23.08 | -9.50 | -10.40 | 11.65 | -4.00 | -392.85 | -211.08 | -14.10 | 43.97 | 24.00 | 36.80 | 27.20 | 20.00 | 36.80 | 33.60 | 22.40 | -3753.79 | -1793.11 | -986.19 | -22124.78 | -19.36 | -624.31 | -70.39 |
| Diluted Shares Outstanding | 5.16M | 1.99M | 2.1M | 2.09M | 2.09M | 2.09M | 2.89M | 3.2M | 432.72K | 559.2K | 398.06K | 335.35K | 333.27K | 333.27K | 333.27K | 333.27K | 288.81K | 233.53K | 223.6K | 850 | 819 | 1.22K | 1.31K | 311 | 56 | 56 |
| Basic Shares Outstanding | 5.16M | 1.99M | 2.09M | 1.48M | 1.43M | 1.31M | 7.61M | 6.4M | 432.72K | 486K | 557.11K | 335.35K | 333.27K | 333.27K | 652.68K | 642.26K | 288.81K | 383.33K | 370.5K | 850 | 819 | 1.22K | 1.31K | 311 | 56 | 111 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.12% | - | - | - | - | - | - | - |
Liquidity and operational viability
As reported in recent quarterly filings, Future FinTech's revenue trajectory remains highly erratic, characterized by a 61.6% year-over-year decline in 2026Q1, which underscores the difficulty in sustaining growth across its diverse and shifting business segments within the competitive Chinese e-commerce and fintech landscape.
The company's revenue base appears to lack a stable foundation, oscillating between significant growth spurts and sharp contractions. This volatility suggests that the firm's pivot toward supply chain financing and blockchain services has yet to yield a predictable or scalable revenue stream.
Based on the provided financial data, the company's gross margin has experienced significant degradation, falling to 3.9% in 2026Q1, which indicates that the firm's core trading and e-commerce activities are struggling to generate meaningful value above the direct costs of goods sold.
The inability to maintain consistent gross margins suggests a lack of pricing power and a reliance on low-margin commodity or retail trading. Investors should monitor whether the company can successfully transition to higher-margin digital services, as current levels appear insufficient to cover operating overhead.
According to historical income statements, Future FinTech consistently reports operating losses that dwarf its gross profit, with an operating margin of -6.2% in 2026Q1, highlighting a structural inability to scale operations efficiently despite various attempts to pivot the underlying business model.
The massive disparity between gross profit and operating expenses suggests that the company's fixed cost structure is disproportionately high relative to its revenue generation. This indicates that the firm is currently unable to achieve the operating leverage necessary to reach profitability under its existing cost framework.
As evidenced by the persistent net losses and the depletion of cash reserves, the company's strategy of chasing disparate high-growth trends appears to be value-destructive, with net margins frequently dipping into deep negative territory, such as the -148.4% reported in 2025Q3.
Short-term revenue spikes may mask a fundamental lack of operational sustainability, as the company appears to be burning through capital to maintain its public listing and diverse business segments. The lack of a clear, profitable core competency warrants significant caution regarding the firm's long-term viability.
Quick answers to the most common questions about buying FTFT stock.
For fiscal year 2025, Future FinTech Group Inc. (FTFT) reported total revenue of $3.8M. This represents a 1934144.9% increase compared to $0.0M in 2001.
Future FinTech Group Inc. (FTFT) reported a net loss of $4.6M for the fiscal year ending 2025.
Future FinTech Group Inc. (FTFT) reported an operating income of $-34.0M, resulting in an operating profit margin of -888.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Future FinTech Group Inc. (FTFT) generated $0.3M in gross profit for the year, representing a gross profit margin of 6.7%. This demonstrates the company's core pricing power and production efficiency.