Revenue volatility remains high while gross margins have suffered a structural decline, falling from 49.3% in 2020Q4 to 11.2% in 2025Q2.
| Sales/Revenue | 690.25M | - | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 61.51M | 30.91M | 39.99M | 37.05M | 54.05M | 22.22M | 8.06M | 7.58M | 10.44M | 10.46M | 8.74M | 6.09M | 5.19M |
| Gross Margin % | 8.91% | 9.1% | 10.34% | 15.82% | 33.74% | 52.66% | 38.18% | 29.96% | 35.77% | 38.61% | 38.01% | 36.41% | 36.12% |
| Gross Profit Growth % | - | -22.69% | 7.93% | -31.45% | 143.28% | 175.75% | 6.32% | -27.44% | -0.17% | 19.71% | 43.44% | 17.29% | - |
| Operating Expenses | 45.09M | 27.2M | 21.71M | 19.34M | 15.86M | 12.19M | 4.04M | 4.99M | 6.57M | 2.48M | 2.69M | 1.32M | 1.47M |
| OpEx % of Revenue | - | 8.01% | 5.61% | 8.26% | 9.9% | 28.89% | 19.17% | 19.75% | 22.49% | 9.16% | 11.68% | 7.87% | 10.25% |
| Selling, General & Admin | 37.92M | 25.79M | 14.6M | 13.27M | 14.26M | 11.37M | 3.55M | 4.64M | 6.06M | 2.45M | 2.56M | 1.28M | 1.46M |
| SG&A % of Revenue | - | 7.59% | 3.78% | 5.67% | 8.9% | 26.95% | 16.83% | 18.33% | 20.75% | 9.03% | 11.15% | 7.63% | 10.12% |
| Research & Development | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | 20.63M | 3.71M | 18.8M | 17.71M | 38.19M | 10.03M | 5.27M | -5.33M | 3.88M | 7.98M | 6.05M | 4.78M | 3.72M |
| Operating Margin % | 2.99% | 1.09% | 4.86% | 7.56% | 23.84% | 23.77% | 24.96% | -21.07% | 13.28% | 29.45% | 26.33% | 28.54% | 25.87% |
| Operating Income Growth % | - | -80.28% | 6.18% | -53.63% | 280.81% | 90.4% | 198.83% | -237.45% | -51.42% | 31.83% | 26.76% | 28.38% | - |
| EBITDA | 23.22M | 4.74M | 21.04M | 19M | 39.36M | 11.71M | 5.51M | -4.13M | 4.76M | 8.44M | 6.5M | 5.15M | 4.16M |
| EBITDA Margin % | 3.36% | 1.4% | 5.44% | 8.11% | 24.57% | 27.77% | 26.11% | -16.35% | 16.31% | 31.15% | 28.26% | 30.77% | 28.92% |
| EBITDA Growth % | -60.34% | -77.45% | 10.76% | -51.74% | 236% | 112.63% | 233.26% | -186.81% | -43.59% | 29.92% | 26.21% | 23.81% | - |
| D&A (Non-Cash Add-back) | 2.58M | 1.04M | 2.24M | 1.29M | 1.17M | 1.69M | 242.41K | 1.2M | 884.95K | 461.41K | 444.4K | 372.69K | 438.49K |
| EBIT | -50.61M | 5.56M | 24.29M | 22.52M | 40.78M | 10.03M | 1.17M | -2.09M | 4.25M | 7.99M | 6.07M | 4.78M | 3.74M |
| Net Interest Income | 2.72M | 1.66M | 2.56M | 2.79M | 2.12M | 585.18K | -158.12K | -207.35K | -56.95K | -49.63K | -55.62K | -70.5K | -34.26K |
| Interest Income | 2.72M | 1.66M | 2.56M | 2.79M | 2.12M | 585.18K | 0 | 952 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 158.12K | 208.31K | 56.95K | 49.63K | 55.62K | 70.5K | 34.26K |
| Other Income/Expense | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | -53.76M | 5.56M | 23.52M | 22.52M | 40.78M | 10.86M | 3.18M | -5.8M | 4.2M | 7.94M | 6.01M | 4.71M | 3.7M |
| Pretax Margin % | -7.79% | 1.64% | 6.08% | 9.62% | 25.45% | 25.74% | 15.08% | -22.92% | 14.37% | 29.29% | 26.15% | 28.15% | 25.74% |
| Income Tax | 8.86M | 4.53M | 5.82M | 4.74M | 10.27M | 941.06K | 442.6K | -651.05K | -2.94M | 2M | 1.62M | 1.3M | 648.51K |
| Effective Tax Rate % | -16.47% | 81.38% | 24.73% | 21.05% | 25.19% | 8.67% | 13.91% | 11.23% | -70.01% | 25.23% | 26.9% | 27.59% | 17.52% |
| Net Income | -62.81M | 923.64K | 17.58M | 17.62M | 30.38M | -13.23M | 2.74M | -5.14M | 7.14M | 5.93M | 4.4M | 3.41M | 3.05M |
| Net Margin % | -9.1% | 0.27% | 4.55% | 7.52% | 18.96% | -31.35% | 12.98% | -20.34% | 24.44% | 21.9% | 19.12% | 20.38% | 21.23% |
| Net Income Growth % | -228.36% | -94.75% | -0.24% | -42% | 329.67% | -582.77% | 153.26% | -172.09% | 20.24% | 35.02% | 28.86% | 11.72% | - |
| Net Income (Continuing) | -62.62M | 1.04M | 17.7M | 17.78M | 30.51M | 9.92M | 1.23M | -5.31M | 7.14M | 5.93M | 4.4M | 3.41M | 3.05M |
| Discontinued Operations | 1000K | 4.86M | 0 | 0 | 0 | -23.11M | 1.51M | -3.05M | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 4.37M | 4.37M | 4.26M | 4.17M | 3.97M | 3.09M | -9.81K | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -13.74 | 0.23 | 4.46 | 4.42 | 14.13 | -7.12 | 1.68 | -3.26 | 4.90 | 4.90 | 3.66 | 2.84 | 2.54 |
| EPS Growth % | -183.23% | -94.84% | 0.91% | -68.72% | 298.46% | -523.81% | 151.53% | -166.53% | 0% | 33.88% | 28.87% | 11.81% | - |
| EPS (Basic) | - | 0.23 | 4.46 | 4.42 | 14.13 | -7.12 | 1.68 | -3.26 | 4.90 | 4.90 | 3.66 | 2.84 | 2.54 |
| Diluted Shares Outstanding | 4.57M | 4.05M | 3.94M | 3.99M | 2.15M | 1.86M | 1.63M | 1.58M | 1.47M | 1.2M | 1.2M | 1.2M | 1.2M |
| Basic Shares Outstanding | 4.57M | 4.05M | 3.94M | 3.99M | 2.15M | 1.86M | 1.63M | 1.58M | 1.47M | 1.2M | 1.2M | 1.2M | 1.2M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Structural margin erosion
As evidenced by the historical income statement data, NISN has experienced significant top-line instability, with quarterly revenue fluctuating from a peak of $259.7 million in 2023Q4 to $90.9 million in 2025Q2, suggesting a highly transactional business model that lacks consistent, recurring revenue streams.
The erratic revenue trajectory indicates that the company's supply chain facilitation services are likely tied to seasonal or project-based trade cycles rather than a stable enterprise software base. Investors should monitor whether this volatility reflects a fundamental loss of market share or merely the inherent unpredictability of its regional commodity-linked trade ecosystem.
According to the provided financial records, NISN's gross margin has undergone a severe long-term contraction, falling from a high of 49.3% in 2020Q4 to a mere 11.2% in 2025Q2, which highlights a significant erosion of the company's pricing power within its competitive landscape.
This downward trend in gross profitability suggests that the cost of facilitating transactions is consuming an increasing share of revenue, leaving little room for operational overhead. The inability to maintain historical margin levels implies that the company's value proposition may be commoditized, forcing it to compete on price rather than proprietary technological differentiation.
Based on the reported figures, the company's operating income has failed to scale alongside revenue, with operating margins swinging from a peak of 30.9% in 2021Q2 to a negative 5.3% in 2024Q4, indicating a lack of meaningful operating leverage in the current business model.
The inability to maintain positive operating margins during periods of higher revenue suggests that SG&A expenses are not being managed with sufficient discipline to offset the thin gross margins. This operational profile implies that the company is highly sensitive to volume fluctuations, as it lacks the fixed-cost efficiency required to protect profitability during downturns.
As reported in recent financial statements, NISN's net income has exhibited extreme volatility, culminating in a significant net loss of $70.0 million in 2025Q2, which raises serious questions regarding the sustainability of its current earnings profile and the quality of its bottom-line performance.
The sharp divergence between revenue scale and net profitability suggests that non-operating items or credit-related losses may be disproportionately impacting the company's financial health. Investors should investigate the drivers of these periodic losses, as they appear to negate the value generated by the core supply chain facilitation activities.
While the company positions itself as a fintech facilitator, the financial data suggests a profile more akin to a low-margin logistics intermediary, as evidenced by the 11.2% gross margin and the recent $70 million net loss reported in the 2025Q2 period.
Short-sellers would likely focus on the discrepancy between the company's technology-centric narrative and its actual financial performance, which shows little evidence of scalable software economics. The reliance on physical trade hubs rather than digital enterprise adoption may limit the company's ability to achieve the high-margin growth typically expected of fintech peers.
Quick answers to the most common questions about buying NISN stock.
Nisun International Enterprise Development Group Co., Ltd (NISN) is profitable, generating $0.9M in net income for the fiscal year ending 2024 with a net profit margin of 0.3%.
Nisun International Enterprise Development Group Co., Ltd (NISN) reported an operating income of $3.7M, resulting in an operating profit margin of 1.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Nisun International Enterprise Development Group Co., Ltd (NISN) generated $30.9M in gross profit for the year, representing a gross profit margin of 9.1%. This demonstrates the company's core pricing power and production efficiency.