Nano Labs Ltd(NA)Earnings, Financials & Key Ratios
NA•NASDAQ
$2.11
$143M mkt cap·Price updated May 6, 2026
AboutNano Labs Ltd operates as a fabless integrated circuit design company and product solution provider in the People's Republic of China and internationally. The company develops high throughput computing and high-performance computing chips. It also offers distributed computing and storage solutions, smart network interface cards, and vision computing chips, as well as distributed rendering technology. In addition, the company engages in the research and development of software. Its customers include enterprises and individual buyers. The company was incorporated in 2019 and is headquartered in Hangzhou, the People's Republic of China.Show more
- Revenue$41M-48.2%
- EBITDA-$87M+65.3%
- Net Income-$113M+55.2%
- EPS (Diluted)-1.67+61.1%
- Gross Margin28.58%+121.6%
- EBITDA Margin-214.01%+33.1%
- Operating Margin-242.66%+27.1%
- Net Margin-278.81%+13.6%
- ROE-104.49%+69.4%
- ROIC-30.42%+85.5%
- Debt/Equity0.85
- Interest Coverage-14.25+95.0%
NA Key Insights
Nano Labs Ltd (NA) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
✗Weaknesses
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 5 (bottom 5%)
- ✗Shares diluted 14.9% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
NA Price & Volume
Nano Labs Ltd (NA) stock price & volume — 10-year historical chart
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NA Growth Metrics
Nano Labs Ltd (NA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years0.97%
TTM-52.49%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM64.46%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-130.94%
Return on Capital
10 Years-63.89%
5 Years-63.89%
3 Years-63.89%
Last Year-38.31%
NA Recent Earnings
Nano Labs Ltd (NA) EPS & revenue vs analyst estimates — last 4 quarters
Q3 2025Latest
Aug 15, 2025EPS
$0.03
Revenue
$577,558
Q4 2024
Sep 18, 2024EPS
$0.06
Revenue
$2M
Q3 2024
Aug 21, 2024EPS
$0.06
Revenue
$2M
Q2 2024
Mar 18, 2024EPS
$0.68
Revenue
$2M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q3 2025Latest | Aug 15, 2025 | $0.03 | $577,558 |
| Q4 2024 | Sep 18, 2024 | $0.06 | $2M |
| Q3 2024 | Aug 21, 2024 | $0.06 | $2M |
| Q2 2024 | Mar 18, 2024 | $0.68 | $2M |
Based on last 12 quarters of dataView full earnings history →
NA Peer Comparison
Nano Labs Ltd (NA) competitors in Compute Processors and AI Accelerators — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 MARA | 4.62B | 12.16 | -3.30 | 38.2% | -144.58% | -30.54% | 1.05 | |
 RIOT | 7.71B | 20.35 | -10.43 | 71.89% | -102.43% | -28.78% | 0.10 | |
 CLSK | 3.43B | 13.41 | 11.97 | 102.21% | -33.25% | -13.75% | 0.38 | |
 HUT | 8.86B | 80.50 | -37.61 | 44.79% | -96.19% | -13.39% | 0.25 | |
 CIFR | 8.97B | 22.10 | -10.28 | 48.04% | -367.17% | -115.53% | 3.31 | |
 BTBT | 576.6M | 1.79 | 8.95 | 264.59% | 17.29% | 21.41% | 0.03 | |
 BITF | 1.29B | 2.16 | -16.62 | 31.78% | -28.03% | -21.32% | 0.04 | |
 IREN | 18.19B | 54.74 | 140.36 | 167.65% | 17.35% | -0.64% | 0.53 |
Compare NA vs Peers
Nano Labs Ltd (NA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NA Income Statement
Nano Labs Ltd (NA) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 2.13M | 39.44M | 983.17M | 78.34M | 40.6M | 24.14M |
| Revenue Growth % | - | - | 1754.58% | 2392.77% | -92.03% | -48.18% | -52.49% |
| Cost of Goods Sold | 0 | 1.27M | 43.53M | 753M | 181.78M | 28.99M | 25.62M |
| COGS % of Revenue | - | 59.74% | 110.37% | 76.59% | 232.06% | 71.42% | - |
| Gross Profit | 0▲ 0% | 856.13K▲ 0% | -4.09M▼ 577.7% | 230.16M▲ 5727.8% | -103.45M▼ 144.9% | 11.6M▲ 111.2% | 11.78M▲ 0% |
| Gross Margin % | - | 40.26% | -10.37% | 23.41% | -132.06% | 28.58% | 48.79% |
| Gross Profit Growth % | - | - | -577.71% | 5727.76% | -144.95% | 111.22% | - |
| Operating Expenses | 10.93M | 37.77M | 174.7M | 209.48M | 157.34M | 110.11M | 76.37M |
| OpEx % of Revenue | - | 1776.11% | 442.93% | 21.31% | 200.85% | 271.24% | - |
| Selling, General & Admin | 828.96K | 3.3M | 29.24M | 77.63M | 68.73M | 59.97M | 54.34M |
| SG&A % of Revenue | - | 154.96% | 74.14% | 7.9% | 87.74% | 147.72% | - |
| Research & Development | 10.14M | 34.48M | 145.46M | 131.85M | 88.6M | 50.15M | 24.37M |
| R&D % of Revenue | - | 1621.14% | 368.79% | 13.41% | 113.11% | 123.52% | - |
| Other Operating Expenses | -38.32K | 0 | 0 | 0 | 0 | 0 | -2M |
| Operating Income | -10.97M▲ 0% | -36.92M▼ 236.4% | -178.79M▼ 384.3% | 20.68M▲ 111.6% | -260.79M▼ 1360.8% | -98.51M▲ 62.2% | -77.85M▲ 0% |
| Operating Margin % | - | -1735.85% | -453.3% | 2.1% | -332.91% | -242.66% | -322.51% |
| Operating Income Growth % | - | -236.42% | -384.31% | 111.57% | -1360.79% | 62.22% | - |
| EBITDA | -10.87M | -36.29M | -173.26M | 24.61M | -250.61M | -86.88M | -65.92M |
| EBITDA Margin % | - | -1706.56% | -439.28% | 2.5% | -319.92% | -214.01% | -273.06% |
| EBITDA Growth % | - | -233.97% | -377.38% | 114.21% | -1118.23% | 65.33% | 55.37% |
| D&A (Non-Cash Add-back) | 106.05K | 622.87K | 5.53M | 3.93M | 10.18M | 11.63M | 11.94M |
| EBIT | -10.97M | -37.7M | -174.43M | 204.76M | -253.45M | -112.63M | -66.94M |
| Net Interest Income | 94.57K | 14.17K | 2.99M | 2.01M | -430.96K | -7.8M | -12.04M |
| Interest Income | 94.57K | 17.91K | 3.5M | 2.01M | 489.1K | 504.35K | 0 |
| Interest Expense | 0 | 3.75K | 509.76K | 0 | 920.05K | 6.91M | 12.04M |
| Other Income/Expense | -56.25K | -785.83K | 3.84M | 10.43M | 6.42M | -21.03M | 5.68M |
| Pretax Income | -11.03M▲ 0% | -37.7M▼ 241.8% | -174.94M▼ 364.0% | 31.12M▲ 117.8% | -254.37M▼ 917.4% | -119.54M▲ 53.0% | -72.17M▲ 0% |
| Pretax Margin % | - | -1772.8% | -443.56% | 3.17% | -324.72% | -294.46% | -298.97% |
| Income Tax | 1.59K | 2.29K | 0 | 0 | -17.39K | 0 | 0 |
| Effective Tax Rate % | -0.01% | -0.01% | 0% | 0% | 0.01% | 0% | 0% |
| Net Income | -11.03M▲ 0% | -37.7M▼ 241.8% | -174.94M▼ 364.0% | 31.12M▲ 117.8% | -252.82M▼ 912.4% | -113.19M▲ 55.2% | -63.01M▲ 0% |
| Net Margin % | - | -1772.91% | -443.56% | 3.17% | -322.75% | -278.81% | -261.01% |
| Net Income Growth % | - | -241.8% | -363.99% | 117.79% | -912.44% | 55.23% | 64.46% |
| Net Income (Continuing) | -11.03M | -37.7M | -174.94M | 31.12M | -254.35M | -119.54M | -72.17M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | -1.53M | 2.12M | -2.6M |
| EPS (Diluted) | -0.28▲ 0% | -0.73▼ 160.7% | -3.39▼ 364.4% | 5.84▲ 272.3% | -4.29▼ 173.5% | -1.67▲ 61.1% | -3.81▲ 0% |
| EPS Growth % | - | -160.71% | -364.38% | 272.27% | -173.46% | 61.07% | -130.94% |
| EPS (Basic) | -0.28 | -0.73 | -3.40 | 5.84 | -4.29 | -1.68 | - |
| Diluted Shares Outstanding | 39.62M | 51.95M | 51.95M | 53.66M | 58.89M | 67.67M | 16.55M |
| Basic Shares Outstanding | 39.62M | 51.9M | 51.9M | 53.24M | 58.89M | 67.33M | 16.41M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
NA Balance Sheet
Nano Labs Ltd (NA) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 20.5M | 59.01M | 893.43M | 288.65M | 125.49M | 366.64M | 1.24B |
| Cash & Short-Term Investments | 10.68M | 35.73M | 265.74M | 91.25M | 50.53M | 275.32M | 1.14B |
| Cash Only | 10.64M | 35.33M | 233.85M | 87.81M | 48.16M | 32.43M | 363.44M |
| Short-Term Investments | 34.27K | 400.18K | 31.89M | 3.43M | 2.36M | 242.89M | 776.7M |
| Accounts Receivable | 0 | 1.17M | 33.08M | 23.73M | 1.74M | 51.4M | 507.69K |
| Days Sales Outstanding | - | 200.07 | 306.11 | 8.81 | 8.1 | 462.17 | 206.38 |
| Inventory | 0 | 7.24M | 213.87M | 102.2M | 12.87M | 29.87M | 35.85M |
| Days Inventory Outstanding | - | 2.08K | 1.79K | 49.54 | 25.85 | 375.99 | 398.02 |
| Other Current Assets | 9.83M | 6.14M | 380.74M | -3.28M | 33.6M | 3.24M | 52.59M |
| Total Non-Current Assets | 1.37M | 2.48M | 16.4M | 78.59M | 224.81M | 249.29M | 239.98M |
| Property, Plant & Equipment | 557.01K | 1.84M | 16.4M | 29.87M | 177.08M | 202.55M | 191.73M |
| Fixed Asset Turnover | - | 1.16x | 2.40x | 32.91x | 0.44x | 0.20x | 0.12x |
| Goodwill | 0 | 0 | 0 | -48.67B | 0 | 0 | 0 |
| Intangible Assets | 265.58K | 99.3K | 0 | 48.72B | 47.73M | 46.75M | 46.25M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 4M |
| Other Non-Current Assets | 550K | 550K | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 21.88M▲ 0% | 61.49M▲ 181.1% | 909.83M▲ 1379.6% | 367.24M▼ 59.6% | 350.3M▼ 4.6% | 615.93M▲ 75.8% | 1.48B▲ 0% |
| Asset Turnover | - | 0.03x | 0.04x | 2.68x | 0.22x | 0.07x | 0.02x |
| Asset Growth % | - | 181.11% | 1379.56% | -59.64% | -4.61% | 75.83% | 697.45% |
| Total Current Liabilities | 32.79M | 109.74M | 932.37M | 183.64M | 242.57M | 209.42M | 682.94M |
| Accounts Payable | 509.53K | 5.62M | 2.84M | 15.29M | 16.88M | 18.1M | 23.2M |
| Days Payables Outstanding | - | 1.61K | 23.79 | 7.41 | 33.88 | 227.88 | 274.2 |
| Short-Term Debt | 6.99M | 5M | 0 | 280K | 23.41M | 23.35M | 510.07M |
| Deferred Revenue (Current) | 0 | 65.4M | 917.39M | 124.47M | 0 | 98.9M | 278.03M |
| Other Current Liabilities | 20.45M | 33.25M | 325.95K | 30.86M | 191.79M | 20.47M | 53.03M |
| Current Ratio | 0.63x | 0.54x | 0.96x | 1.57x | 0.52x | 1.75x | 1.75x |
| Quick Ratio | 0.63x | 0.47x | 0.73x | 1.02x | 0.46x | 1.61x | 1.61x |
| Cash Conversion Cycle | - | 665.93 | 2.08K | 50.94 | 0.07 | 610.28 | 330.2 |
| Total Non-Current Liabilities | 112.97K | 276.65K | 2.12M | 19.19M | 123.99M | 173.6M | 175.7M |
| Long-Term Debt | 0 | 0 | 0 | 16.67M | 120.26M | 170.68M | 173.48M |
| Capital Lease Obligations | 112.97K | 276.65K | 2.12M | 2.51M | 3.73M | 2.92M | 11.3M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | -4.72M |
| Total Liabilities | 32.91M | 110.01M | 934.49M | 202.83M | 366.56M | 383.03M | 858.65M |
| Total Debt | 7.23M | 5.74M | 7.35M | 23.67M | 150.88M | 198.87M | 686.79M |
| Net Debt | -3.41M | -29.59M | -226.51M | -64.14M | 102.72M | 166.43M | 323.35M |
| Debt / Equity | - | - | - | 0.14x | - | 0.85x | 0.85x |
| Debt / EBITDA | - | - | - | 0.96x | - | - | -10.42x |
| Net Debt / EBITDA | - | - | - | -2.61x | - | - | -4.91x |
| Interest Coverage | - | -9852.14x | -350.72x | - | -283.45x | -14.25x | -5.56x |
| Total Equity | -11.03M▲ 0% | -48.52M▼ 339.8% | -24.66M▲ 49.2% | 164.41M▲ 766.7% | -16.26M▼ 109.9% | 232.91M▲ 1532.3% | 619.08M▲ 0% |
| Equity Growth % | - | -339.85% | 49.17% | 766.68% | -109.89% | 1532.28% | 6171.51% |
| Book Value per Share | -0.28 | -0.93 | -0.47 | 3.06 | -0.28 | 3.44 | 37.41 |
| Total Shareholders' Equity | -11.03M | -48.52M | -24.66M | 164.41M | -14.73M | 230.79M | 621.69M |
| Common Stock | 51.13K | 51.13K | 66.97K | 72.32K | 87K | 213.74K | 320.37K |
| Retained Earnings | -11.03M | -48.74M | -223.68M | -199.21M | -452.03M | -565.22M | -572.27M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -51.13K | 0 | -2.47M | 8.75M | 2.25M | 15.29M | 13.45M |
| Minority Interest | 0 | 0 | 0 | 0 | -1.53M | 2.12M | -2.6M |
NA Cash Flow Statement
Nano Labs Ltd (NA) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|
| Cash from Operations | 8.57M | -3.03M | 71.73M | -274.94M | -133.47M | -139.33M | -139.33M |
| Operating CF Margin % | - | -142.38% | 181.87% | -27.96% | -170.39% | -343.21% | - |
| Operating CF Growth % | - | -135.32% | 2469.06% | -483.28% | 51.45% | -4.39% | 141.05% |
| Net Income | -11.03M | -37.7M | -174.94M | 31.12M | -254.35M | -119.54M | -63.01M |
| Depreciation & Amortization | 131.69K | 622.87K | 5.53M | 9.43M | 10.18M | 11.63M | 12.42M |
| Stock-Based Compensation | 0 | 214.88K | 19.34K | 9.35M | 718.41K | 401.52K | 178.35K |
| Deferred Taxes | 0 | -34.05M | 26.75M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 25.6M | 34.05M | -12.09K | 184.07M | 60.88M | 26.55M | -19.21M |
| Working Capital Changes | -6.13M | 33.84M | 214.39M | -508.91M | 49.1M | -58.37M | -43.74M |
| Change in Receivables | 0 | -1.17M | 1.17M | 0 | -1.73M | 1.18M | -18.47K |
| Change in Inventory | 0 | -7.24M | -233.39M | -71.45M | 28.78M | -27.88M | -31.31M |
| Change in Payables | 0 | 390.15K | -2.78M | 10.59M | 898.56K | 1.08M | 0 |
| Cash from Investing | -4.92M | -1.65M | -36.05M | -33.18M | -105.48M | -256.77M | -216.44M |
| Capital Expenditures | -904.03K | -936.78K | -8.69M | -17.53M | -105.48M | -36.37M | -4.03M |
| CapEx % of Revenue | - | 44.05% | 22.04% | 1.78% | 134.66% | 89.58% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -4.01M | -710K | 4.94M | -49.29M | 0 | 16.95K | -212.41M |
| Cash from Financing | 6.99M | 29.36M | 164.9M | 161M | 199.52M | 375.98M | 671.67M |
| Debt Issued (Net) | 0 | 0 | -5M | 16.95M | 126.72M | 50.36M | 0 |
| Equity Issued (Net) | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 6.99M | 29.36M | -31.3M | 0 | 0 | 10M | 671.67M |
| Net Change in Cash | 10.64M▲ 0% | 24.69M▲ 132.0% | 198.52M▲ 704.0% | -145.99M▼ 173.5% | -39.28M▲ 73.1% | -15.73M▲ 59.9% | -23.92M▲ 0% |
| Free Cash Flow | 7.67M▲ 0% | -3.96M▼ 151.7% | 63.04M▲ 1690.0% | -341.76M▼ 642.1% | -238.96M▲ 30.1% | -175.7M▲ 26.5% | -117.39M▲ 0% |
| FCF Margin % | - | -186.43% | 159.83% | -34.76% | -305.04% | -432.79% | -486.28% |
| FCF Growth % | - | -151.71% | 1690.05% | -642.14% | 30.08% | 26.47% | 48.51% |
| FCF per Share | 0.19 | -0.08 | 1.21 | -6.37 | -4.06 | -2.60 | -2.60 |
| FCF Conversion (FCF/Net Income) | -0.78x | 0.08x | -0.41x | -8.84x | 0.53x | 1.23x | 1.86x |
| Interest Paid | 0 | 0 | 0 | 180.62K | 0 | 9.28M | 13.51M |
| Taxes Paid | 0 | 0 | 276.19K | 89.17K | 0 | 0 | 0 |
NA Key Ratios
Nano Labs Ltd (NA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | 44.53% | -341.3% | -104.49% | -10.18% |
| Return on Invested Capital (ROIC) | - | - | - | -209.49% | -30.42% | -30.42% |
| Gross Margin | 40.26% | -10.37% | 23.41% | -132.06% | 28.58% | 48.79% |
| Net Margin | -1772.91% | -443.56% | 3.17% | -322.75% | -278.81% | -261.01% |
| Debt / Equity | - | - | 0.14x | - | 0.85x | 0.85x |
| Interest Coverage | -9852.14x | -350.72x | - | -283.45x | -14.25x | -5.56x |
| FCF Conversion | 0.08x | -0.41x | -8.84x | 0.53x | 1.23x | 1.86x |
| Revenue Growth | - | 1754.58% | 2392.77% | -92.03% | -48.18% | -52.49% |
NA Frequently Asked Questions
Nano Labs Ltd (NA) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Nano Labs Ltd (NA) reported $24.1M in revenue for fiscal year 2024.
Nano Labs Ltd (NA) saw revenue decline by 48.2% over the past year.
Nano Labs Ltd (NA) reported a net loss of $63.0M for fiscal year 2024.
Dividend & Returns
Nano Labs Ltd (NA) has a return on equity (ROE) of -104.5%. Negative ROE indicates the company is unprofitable.
Nano Labs Ltd (NA) had negative free cash flow of $117.4M in fiscal year 2024, likely due to heavy capital investments.
Explore More NA
Nano Labs Ltd (NA) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
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Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates