The company has failed to generate meaningful revenue for the majority of the last ten quarters, while SG&A expenses reached $974.5K in 2026Q1 despite zero top-line output.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 591.46K | 19.58M | 23.19M | 38.75M | 26.31M | 23.89M |
| Revenue Growth % | - | - | - | - | - | -100% | -96.98% | -15.55% | -40.15% | 47.31% | 10.13% | - |
| Cost of Goods Sold | 1.25M | 1.51M | 0 | 0 | 718 | 0 | 21.05K | 19.02M | 18.67M | 19.23M | 14.15M | 14.29M |
| COGS % of Revenue | - | - | - | - | - | - | 3.56% | 97.13% | 80.51% | 49.63% | 53.79% | 59.82% |
| Gross Profit | -1.25M | -1.51M | 0 | 0 | -718 | 0 | 570.41K | 562.24K | 4.52M | 19.52M | 12.16M | 9.6M |
| Gross Margin % | - | - | - | - | - | - | 96.44% | 2.87% | 19.49% | 50.37% | 46.21% | 40.18% |
| Gross Profit Growth % | - | - | - | 100% | - | -100% | 1.45% | -87.56% | -76.84% | 60.55% | 26.68% | - |
| Operating Expenses | 7.08M | 6.1M | 14.16M | 11.99M | 413.43K | 19.55M | 1.07M | 851.64K | 2.39M | 906.28K | 627.58K | 257.57K |
| OpEx % of Revenue | - | - | - | - | - | - | 180.43% | 4.35% | 10.32% | 2.34% | 2.39% | 1.08% |
| Selling, General & Admin | 4.52M | 3.85M | 7.46M | 9.92M | 413.43K | 19.55M | 737.14K | 1.17M | 3M | 906.28K | 627.58K | 257.57K |
| SG&A % of Revenue | - | - | - | - | - | - | 124.63% | 5.98% | 12.95% | 2.34% | 2.39% | 1.08% |
| Research & Development | 2.56M | 2.26M | 797.5K | 2.07M | 0 | 0 | 0 | 0 | 261.02K | 18.07K | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | 1.13% | 0.05% | - | - |
| Other Operating Expenses | 0 | 0 | 5.91M | 0 | 0 | 0 | 330.05K | -318.98K | 18.02K | 0 | 0 | 0 |
| Operating Income | -8.32M | -7.61M | -14.16M | -11.99M | -414.15K | -19.55M | -496.77K | -289.4K | 2.13M | -906.28K | -627.58K | -257.57K |
| Operating Margin % | - | - | - | - | - | - | -83.99% | -1.48% | 9.17% | -2.34% | -2.39% | -1.08% |
| Operating Income Growth % | - | 46.26% | -18.1% | -2795.3% | 97.88% | -3834.61% | -71.66% | -113.61% | 334.7% | -44.41% | -143.65% | - |
| EBITDA | -6.83M | -6.1M | -13.04M | -11.54M | -413.43K | -18.25M | -476.76K | -175.45K | 2.8M | -463.3K | -334.77K | 45.17K |
| EBITDA Margin % | - | - | - | - | - | - | -80.61% | -0.9% | 12.07% | -1.2% | -1.27% | 0.19% |
| EBITDA Growth % | 40.13% | 53.19% | -13.02% | -2690.76% | 97.73% | -3727.21% | -171.73% | -106.27% | 704.09% | -38.39% | -841.07% | - |
| D&A (Non-Cash Add-back) | 1.5M | 1.51M | 1.12M | 452.99K | 718 | 1.3M | 20.01K | 113.95K | 671.71K | 442.98K | 292.81K | 302.74K |
| EBIT | 7.91M | -7.61M | -14.15M | -11.89M | -414.15K | -19.55M | -496.77K | -262.23K | -383.8K | 6.34M | -541.62K | -234.21K |
| Net Interest Income | 4.36K | 6.43K | 8.67K | 4.42K | -64 | 799 | -11.98K | -21.23K | -16.9K | -172.56K | 0 | 0 |
| Interest Income | 4.36K | 6.43K | 8.67K | 4.5K | 23 | 799 | 6.25K | 2.02K | 95 | 707 | 85.96K | 0 |
| Interest Expense | 0 | 0 | 0 | 81 | 87 | 0 | 18.23K | 23.25K | 16.99K | 173.27K | 0 | 0 |
| Other Income/Expense | -341.71M | -179.32M | 8.67K | 104.42K | 0 | 799 | -3.89M | 3.92K | 13.12K | -1.28M | 85.96K | 8.71M |
| Pretax Income | -350.03M | -186.93M | -14.15M | -11.89M | -414.15K | -19.55M | -4.39M | -285.48K | 1.97M | -573.75K | -541.62K | -234.21K |
| Pretax Margin % | - | - | - | - | - | - | -742.26% | -1.46% | 8.48% | -1.48% | -2.06% | -0.98% |
| Income Tax | -65.91K | -54.98K | -32.1K | 327.82K | 0 | 0 | 0 | 128.8K | 515.82K | 1.95M | 0 | 1.4M |
| Effective Tax Rate % | 0.02% | 0.03% | 0.23% | -2.76% | 0% | 0% | 0% | -45.12% | 26.24% | -340.55% | 0% | -598.24% |
| Net Income | -349.97M | -186.88M | -13.84M | -12.52M | -30.82M | -26.97M | 2.51M | -16.83M | 1.45M | -573.75K | -541.62K | -234.21K |
| Net Margin % | - | - | - | - | - | - | 424.45% | -85.92% | 6.25% | -1.48% | -2.06% | -0.98% |
| Net Income Growth % | -3129.94% | -1250.64% | -10.5% | 59.37% | -14.28% | -1174.34% | 114.92% | -1260.44% | 352.72% | -5.93% | -131.26% | - |
| Net Income (Continuing) | -349.97M | -186.88M | -14.12M | -12.21M | -414.15K | -19.55M | -4.39M | -414.28K | -405.12K | 4.21M | -541.62K | -234.21K |
| Discontinued Operations | 0 | 0 | 0 | -2.13M | -26.35M | -7.43M | 6.9M | -16.41M | 1.86M | 0 | 0 | 0 |
| Minority Interest | 284.32B | 284.34K | 284.35K | 3.81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -5.40 | -6.16 | -1.45 | -3.88 | -20.13 | -20.36 | 2.70 | -23.70 | 1.86 | -0.97 | -1.50 | -0.65 |
| EPS Growth % | -416.67% | -324.83% | 62.63% | 80.73% | 1.13% | -854.07% | 111.39% | -1374.19% | 291.75% | 35.33% | -130.77% | - |
| EPS (Basic) | - | -6.16 | -1.45 | -3.88 | -20.13 | -20.36 | 2.70 | -23.70 | 1.86 | -0.97 | -1.50 | -0.65 |
| Diluted Shares Outstanding | 64.79M | 30.34M | 9.57M | 3.23M | 1.53M | 1.32M | 948.41K | 748.25K | 778.32K | 591.5K | 360.39K | 360.39K |
| Basic Shares Outstanding | 64.79M | 30.34M | 9.57M | 3.23M | 1.53M | 1.32M | 948.41K | 748.25K | 778.32K | 591.5K | 360.39K | 360.39K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - |
Capital exhaustion and insolvency
According to the provided financial data, GDC has reported no meaningful revenue for the majority of the last ten quarters, suggesting that the company's core O2O business model has yet to achieve any measurable commercial traction or consistent market penetration within its target Chinese retail segments.
The absence of consistent top-line figures indicates that the company is likely still in a pre-revenue or experimental phase despite its operational history. Investors should monitor whether the lack of revenue is a result of failed product-market fit or a strategic pivot that has yet to be reflected in the financial reporting.
As reported in recent financial statements, GDC continues to incur significant SG&A and R&D expenditures, with SG&A reaching $974.5K in 2026Q1, despite the company failing to generate any corresponding revenue to offset these persistent and substantial overhead costs during the same period.
The persistent burn rate on SG&A and R&D suggests a high-fixed-cost structure that is not currently supported by a viable revenue-generating engine. This mismatch between spending and output implies that the company may be struggling to scale its IoT signage installations efficiently.
Based on the reported figures, GDC's net income has exhibited extreme volatility, including a anomalous $12.1M profit in 2025Q3 followed by a $196.5M loss in 2025Q4, which suggests that non-operating items or accounting adjustments are significantly distorting the company's true underlying operational performance.
Such wild swings in net income are rarely indicative of sustainable business health and often point to one-time gains, asset write-downs, or complex accounting treatments related to virtual assets. Analysts should treat these bottom-line figures with extreme skepticism as they do not appear to correlate with core business activity.
With cash reserves reported at only $456,041, the company faces a precarious financial position, as highlighted by the persistent quarterly operating losses that consistently exceed $1M, suggesting that GDC may be nearing a point where external financing is required to maintain basic operations.
The combination of minimal cash and ongoing operational losses creates a high probability of dilutive equity financing or a potential liquidity crisis. Investors should consider whether the current business model can survive without a significant and immediate infusion of capital to fund its capital-intensive IoT hardware strategy.
Quick answers to the most common questions about buying GDC stock.
For fiscal year 2025, GD Culture Group Limited (GDC) reported total revenue of $0.0M. This represents a 100.0% decline compared to $23.9M in 2015.
GD Culture Group Limited (GDC) reported a net loss of $186.9M for the fiscal year ending 2025.