The9 Limited (NCTY) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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NCTY Revenue Growth
Revenue Breakdown (FY 2025)
NCTY's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
NCTY Revenue Analysis (2014–2025)
As of May 8, 2026, The9 Limited (NCTY) generated trailing twelve-month (TTM) revenue of $289.3 million, reflecting significant decline in growth of -74.3% year-over-year. The most recent quarter (Q4 2024) recorded $20.0 million in revenue, down 78.5% sequentially.
Looking at the longer-term picture, NCTY's 5-year compound annual growth rate (CAGR) stands at +181.7%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $174.0 million in 2023.
Revenue diversification analysis shows NCTY's business is primarily driven by Cryptocurrency Mining Revenue (100%). With over half of revenue concentrated in Cryptocurrency Mining Revenue, the company maintains significant focus in this area while developing other growth vectors.
When compared to Technology sector peers including SOHU (-4.6% YoY), GRVY (+1.7% YoY), and NTES (+6.6% YoY), NCTY has underperformed the peer group in terms of revenue growth. Compare NCTY vs SOHU →
NCTY Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NCTYCurrent | $289M | -74.3% | +181.7% | -229.6% | |
 SOHU | $598M | -4.6% | -2.3% | -18.3% | |
 GRVY | $568.1B | +1.7% | +7.0% | 14.1% | |
 NTES | $109.6B | +6.6% | +8.3% | 31.8% | |
 GIGM | $3M | +10.1% | -14.9% | -124.6% | |
 BILI | $26.8B | +22.7% | +31.7% | -5.0% |
NCTY Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $105.0M | -7.4% | $1.8M | 1.7% | $-241,005,923 | -229.6% |
| 2024 | $113.3M | -34.9% | $-1,626,727 | -1.4% | $-162,812,901 | -143.7% |
| 2023 | $174.0M | +58.3% | $-39,128,712 | -22.5% | $-239,590,620 | -137.7% |
| 2022 | $110.0M | -18.0% | $-48,102,704 | -43.7% | $-420,499,865 | -382.4% |
| 2021 | $134.1M | +22579.9% | $47.2M | 35.2% | $-265,783,026 | -198.2% |
| 2020 | $591K | +73.6% | $-178,347 | -30.2% | $-105,906,056 | -17909.4% |
| 2019 | $341K | -98.1% | $-2,845,583 | -835.5% | $-129,721,657 | -38089.6% |
| 2018 | $18.1M | -74.6% | $1.0M | 5.7% | $-119,972,167 | -662.4% |
| 2017 | $71.3M | +21.3% | $48.1M | 67.5% | $-110,801,819 | -155.4% |
| 2016 | $58.8M | +22.7% | $8.0M | 13.7% | $-230,798,987 | -392.6% |
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Start ComparisonNCTY — Frequently Asked Questions
Quick answers to the most common questions about buying NCTY stock.
Is NCTY's revenue growth accelerating or slowing?
NCTY revenue declined -74.3% year-over-year, contrasting with the 5-year CAGR of +181.7%. TTM revenue fell to $289M. This reverses the prior growth trend.
What is NCTY's long-term revenue growth rate?
The9 Limited's 5-year revenue CAGR of +181.7% reflects the variable expansion pattern. Current YoY growth of -74.3% is below this long-term average.
How is NCTY's revenue distributed by segment?
NCTY reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.