Structural margin compression remains a critical concern, with gross margins falling to 8.6% in 2025Q4 from a 51.1% peak in 2024Q2, while SG&A expenses of $15.0M continue to dwarf gross profits.
| Sales/Revenue | 7.08M | 158.49K | 10.98M | 10.98M | 12.26M | 22.13M | 7.68M | 1.08M | 43.11K |
| Revenue Growth % | 4368.01% | -98.56% | -0.01% | -10.44% | -44.6% | 187.99% | 613.45% | 2398.03% | - |
| Cost of Goods Sold | 6.38M | 91.35K | 8.39M | 10.08M | 9.42M | 17.97M | 5.78M | 848.78K | 155 |
| COGS % of Revenue | 90.09% | 57.64% | 76.47% | 91.84% | 76.83% | 81.21% | 75.21% | 78.82% | 0.36% |
| Gross Profit | 702.07K | 67.13K | 2.58M | 895.73K | 2.84M | 4.16M | 1.9M | 228.05K | 42.95K |
| Gross Margin % | 9.91% | 42.36% | 23.53% | 8.16% | 23.17% | 18.79% | 24.79% | 21.18% | 99.64% |
| Gross Profit Growth % | 945.82% | -97.4% | 188.38% | -68.46% | -31.7% | 118.32% | 735.09% | 430.94% | - |
| Operating Expenses | 19.33M | 2.11M | 4.1M | 11.37M | 3.96M | 6.38M | 3.66M | -1.21M | 6.19K |
| OpEx % of Revenue | 272.91% | 1333.97% | 37.35% | 103.58% | 32.28% | 28.82% | 47.63% | -112.2% | 14.36% |
| Selling, General & Admin | 16.64M | 2.11M | 3.99M | 3.88M | 3.49M | 5.87M | 3.32M | 1.01M | 6.19K |
| SG&A % of Revenue | 234.99% | 1333.54% | 36.37% | 35.38% | 28.46% | 26.52% | 43.25% | 93.4% | 14.36% |
| Research & Development | 2.69M | 689 | 107.2K | 1.03M | 452.61K | 527.97K | 340.53K | 205.61K | 0 |
| R&D % of Revenue | 37.92% | 0.43% | 0.98% | 9.39% | 3.69% | 2.39% | 4.43% | 19.09% | - |
| Other Operating Expenses | 0 | 0 | 0 | -546.65K | 0 | -19.26K | -3.9K | 3.19K | 0 |
| Operating Income | -18.62M | -2.05M | -1.52M | -10.48M | -1.1M | -2.24M | -1.76M | -983.29K | 36.76K |
| Operating Margin % | -263% | -1291.62% | -13.82% | -95.42% | -8.99% | -10.11% | -22.9% | -91.31% | 85.28% |
| Operating Income Growth % | -809.77% | -34.96% | 85.52% | -850.9% | 50.76% | -27.2% | -78.88% | -2774.74% | - |
| EBITDA | -15.73M | -1.92M | -1.33M | -10.11M | -978.02K | -2.16M | -1.46M | -923.45K | 0 |
| EBITDA Margin % | -222.15% | -1211.45% | -12.15% | -92.08% | -7.98% | -9.75% | -18.97% | -85.76% | - |
| EBITDA Growth % | -719.31% | -43.96% | 86.81% | -933.63% | 54.66% | -47.98% | -57.84% | - | - |
| D&A (Non-Cash Add-back) | 2.89M | 127.05K | 183.1K | 366.93K | 123.67K | 80.34K | 301.37K | 59.83K | -36.76K |
| EBIT | -18.62M | -2.05M | -1.52M | -3.74M | -1.1M | -2.24M | -1.76M | -983.29K | 0 |
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 430.88K | 6.79M | -14.59M | -532.66K | -15.89K | 19.26K | 3.9K | 3.19K | 0 |
| Pretax Income | -18.19M | 4.74M | -16.11M | -11.01M | -1.12M | -2.22M | -1.76M | -980.1K | 36.76K |
| Pretax Margin % | -256.91% | 2992.16% | -146.71% | -100.27% | -9.12% | -10.03% | -22.84% | -91.02% | 85.28% |
| Income Tax | 0 | -372.56K | 207.24K | 211.14K | 0 | 0 | 0 | 0 | 3.24K |
| Effective Tax Rate % | 0% | -7.86% | -1.29% | -1.92% | 0% | 0% | 0% | 0% | 8.8% |
| Net Income | -18.59M | 5.11M | -16.07M | -11.07M | -1.08M | -2.22M | -1.76M | -980.1K | 33.53K |
| Net Margin % | -262.54% | 3227.24% | -146.36% | -100.85% | -8.83% | -10.03% | -22.84% | -91.02% | 77.77% |
| Net Income Growth % | -463.48% | 131.83% | -45.11% | -923.34% | 51.22% | -26.38% | -79.07% | -3023.4% | - |
| Net Income (Continuing) | -18.19M | 5.11M | -16.31M | -11.22M | -1.12M | -2.22M | -1.76M | -980.1K | 33.53K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | -398.45K | -398.45K | -152.13K | -4.29K | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -84.10 | 906.00 | -12375.00 | -17438.00 | -2297.00 | -7690.00 | -7860.00 | -4574.00 | 156.00 |
| EPS Growth % | -109.28% | 107.32% | 29.03% | -659.16% | 70.13% | 2.16% | -71.84% | -3032.05% | - |
| EPS (Basic) | -84.10 | 906.00 | -12375.00 | -17438.00 | -2297.00 | -7690.00 | -7860.00 | -4574.00 | 156.00 |
| Diluted Shares Outstanding | 221.04K | 5.64K | 1.3K | 635 | 471 | 288 | 223 | 214 | 214 |
| Basic Shares Outstanding | 221.04K | 5.64K | 1.3K | 635 | 471 | 288 | 223 | 214 | 214 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Unsustainable operating loss trajectory
As reported in recent financial filings, WNW experienced a 62.6% revenue increase in 2025Q4, yet this follows a history of extreme volatility, including a 99.2% contraction in 2024Q2, suggesting that the company's top-line expansion lacks the consistency required for a sustainable business model.
The dramatic fluctuations in quarterly revenue indicate that the company's business model is highly sensitive to external factors or potentially inconsistent revenue recognition practices. Investors should monitor whether this growth is driven by high-churn, low-quality transactions that fail to build a durable customer base.
Based on the latest income statement data, the company's gross margin has compressed to 8.6% in 2025Q4, reflecting a significant decline from the 51.1% peak observed in 2024Q2 and highlighting the difficulty of maintaining premium pricing in a competitive agricultural retail environment.
The inability to sustain higher gross margins suggests that the company lacks meaningful pricing power for its niche product offerings. This margin erosion appears to be a direct consequence of the high variable costs associated with sourcing and distributing perishable goods in a fragmented market.
According to historical income statements, the company reported an operating loss of $17.2M in 2025Q4, which significantly outpaces gross profit, indicating that SG&A expenses are not scaling efficiently and that the current operational structure is fundamentally incapable of generating positive operating leverage at this volume.
The massive disparity between gross profit and operating expenses suggests that the company is burdened by excessive fixed costs relative to its current revenue scale. This disconnect warrants further investigation into whether management can implement meaningful cost discipline or if the current operating model is inherently loss-making.
As indicated by the financial statements, SG&A expenses reached $15.0M in 2025Q4, dwarfing the $396.6K in gross profit, which suggests that the company's administrative and marketing overhead is disproportionately high and continues to erode any potential for achieving operational break-even in the near term.
The high level of SG&A relative to revenue implies that the company is spending aggressively to acquire customers or maintain its platform, yet these expenditures have not translated into improved unit economics. Investors should monitor whether these costs are necessary for growth or if they represent structural inefficiencies.
Quick answers to the most common questions about buying WNW stock.
For fiscal year 2025, Meiwu Technology Company Limited (WNW) reported total revenue of $7.1M. This represents a 16326.9% increase compared to $0.0M in 2017.
Meiwu Technology Company Limited (WNW) reported a net loss of $18.6M for the fiscal year ending 2025.
Meiwu Technology Company Limited (WNW) reported an operating income of $-18.6M, resulting in an operating profit margin of -263.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Meiwu Technology Company Limited (WNW) generated $0.7M in gross profit for the year, representing a gross profit margin of 9.9%. This demonstrates the company's core pricing power and production efficiency.