The company's unit-economic failure is highlighted by a gross margin collapse to -164.4% in 2025Q4, reflecting costs that significantly exceed revenue generation.
| Sales/Revenue | 123.29K | 465.44K | 1.48M | 1.26M | 657.09K |
| Revenue Growth % | -73.51% | -68.62% | 17.44% | 92.2% | - |
| Cost of Goods Sold | 431.97K | 464.26K | 1.22M | 1M | 456.64K |
| COGS % of Revenue | 350.37% | 99.75% | 82.05% | 79.24% | 69.49% |
| Gross Profit | -308.68K | 1.17K | 266.19K | 262.21K | 200.45K |
| Gross Margin % | -250.37% | 0.25% | 17.95% | 20.76% | 30.51% |
| Gross Profit Growth % | -26482.91% | -99.56% | 1.52% | 30.81% | - |
| Operating Expenses | 19.39M | 8.07M | 5.03M | 1.52M | 224.02K |
| OpEx % of Revenue | 15722.99% | 1733.72% | 339.17% | 120.25% | 34.09% |
| Selling, General & Admin | 18.22M | 7.31M | 4.44M | 1.23M | 297.91K |
| SG&A % of Revenue | 14777.29% | 1569.77% | 299.63% | 97.48% | 45.34% |
| Research & Development | 1.17M | 763.09K | 586.42K | 287.58K | 0 |
| R&D % of Revenue | 945.7% | 163.95% | 39.54% | 22.77% | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | -73.89K |
| Operating Income | -14.79M | -8.07M | -4.76M | -1.26M | -23.57K |
| Operating Margin % | -11994.82% | -1733.47% | -321.22% | -99.49% | -3.59% |
| Operating Income Growth % | -83.29% | -69.36% | -279.15% | -5229.74% | - |
| EBITDA | -14.42M | -7.63M | -4.35M | -1.14M | -12.22K |
| EBITDA Margin % | -11693.26% | -1638.44% | -293.31% | -90.15% | -1.86% |
| EBITDA Growth % | -89.05% | -75.3% | -282.08% | -9219.91% | - |
| D&A (Non-Cash Add-back) | 371.8K | 442.28K | 413.91K | 117.97K | 11.36K |
| EBIT | -14.79M | -8.03M | -4.73M | -1.12M | 58.76K |
| Net Interest Income | -195.03K | -43.92K | -46.62K | -4.79K | -745 |
| Interest Income | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 195.03K | 43.92K | 46.62K | 4.79K | 745 |
| Other Income/Expense | -2.72M | -3.24K | -10.08K | 131.79K | 81.59K |
| Pretax Income | -17.51M | -8.07M | -4.77M | -1.12M | 58.01K |
| Pretax Margin % | -14198.2% | -1734.17% | -321.9% | -89.06% | 8.83% |
| Income Tax | -68.14K | 51.43K | 0 | 4.79K | 28.05K |
| Effective Tax Rate % | 0.39% | -0.64% | 0% | -0.43% | 48.34% |
| Net Income | -17.44M | -8.12M | -4.77M | -1.13M | 29.97K |
| Net Margin % | -14142.93% | -1745.22% | -321.9% | -89.44% | 4.56% |
| Net Income Growth % | -114.67% | -70.14% | -322.68% | -3869.11% | - |
| Net Income (Continuing) | -17.44M | -8.12M | -4.77M | -1.13M | 29.97K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -5.84 | -2.62 | -1.70 | -0.26 | 0.01 |
| EPS Growth % | -122.9% | -54.12% | -553.85% | -2674.26% | - |
| EPS (Basic) | -5.84 | -2.62 | -1.70 | -0.26 | 0.01 |
| Diluted Shares Outstanding | 2.98M | 3.14M | 2.82M | 3.23M | 3.23M |
| Basic Shares Outstanding | 2.98M | 3.14M | 2.82M | 3.23M | 3.23M |
| Dividend Payout Ratio | - | - | - | - | - |
Imminent liquidity and solvency risk
As reported in recent financial filings, TDTH experienced a severe 73.51% year-over-year revenue decline, reflecting a fundamental inability to maintain its client base or successfully scale its bespoke IT consulting and subscription-based software offerings within the competitive Singaporean SME market.
The precipitous drop in top-line performance suggests that the company's pivot toward Web 3.0 architecture has failed to gain traction or replace lost project-based revenue. This trend indicates that the firm is struggling with product-market fit, leaving the business with a shrinking revenue base that is increasingly insufficient to cover its fixed operating costs.
According to the latest income statement data, the company's gross margin has deteriorated to a deeply negative -250.37%, demonstrating that the direct costs of service delivery and infrastructure significantly exceed the revenue generated from its core business activities.
This structural deficit implies that the company is effectively paying to provide services, a condition that is unsustainable for any service-oriented technology firm. Investors should monitor whether this is a temporary result of high initial development costs or a permanent feature of a business model that lacks the necessary scale to amortize its technical talent and cloud hosting expenses.
Based on reported figures, TDTH's operating expenses, particularly SG&A, continue to dwarf gross profit, resulting in an operating margin of -64.1% that highlights a complete lack of operational efficiency and a failure to achieve any meaningful economies of scale.
The massive disparity between revenue and operating costs suggests that the company is burdened by a high fixed-cost structure that it cannot support. Without a drastic reduction in overhead or a massive surge in high-margin subscription revenue, the current operating trajectory appears to be leading toward further capital depletion.
While some market participants may view the Tridentity platform as a potential call option on blockchain adoption, the company's current burn rate and minimal cash reserves of $150,334 suggest that the firm may lack the necessary runway to survive until such adoption occurs.
The market's potential classification of TDTH as a growth-stage tech firm appears to ignore the reality of its distressed micro-cap status and the fundamental breakdown of its unit economics. The risk remains that the company will be forced to seek dilutive financing or face insolvency before its unproven Web 3.0 ecosystem can generate any positive cash flow.
Quick answers to the most common questions about buying TDTH stock.
For fiscal year 2025, Trident Digital Tech Holdings Ltd (TDTH) reported total revenue of $0.1M. This represents a 81.2% decline compared to $0.7M in 2021.
Trident Digital Tech Holdings Ltd (TDTH) reported a net loss of $17.4M for the fiscal year ending 2025.
Trident Digital Tech Holdings Ltd (TDTH) reported an operating income of $-14.8M, resulting in an operating profit margin of -11994.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Trident Digital Tech Holdings Ltd (TDTH) generated $-0.3M in gross profit for the year, representing a gross profit margin of -250.4%. This demonstrates the company's core pricing power and production efficiency.