ECX revenueFY2025$847.86M
- FY YoY
- +9.9%
ECX revenue was $847.86M for fiscal 2025 (ended Dec 31, 2025), up 9.9% from fiscal 2024. It rose in each of the last 3 fiscal years.
ECARX Holdings Inc. (ECX) financials
For fiscal 2025 (ended Dec 31, 2025), ECARX Holdings Inc. reported $847.86M of revenue and -$66.04M of net income.
- Revenue, FY2025
- $847.86M
- Revenue growth, YoY
- +9.9%
- Net income, FY2025
- -$66.04M
- Net margin
- -7.8%
- Free cash flow, FY2025
- -$106.56M
- EPS, diluted, FY2025
- -$0.20
- Cash
- $87.12M
- Total debt
- $370.94M
- P/S
- 0.35
- Market cap
- $297.3M
FY2022FY2025
FY2022FY2025
FY2022FY2025
ECX revenue and earnings growth
ECX net incomeFY2025-$66.04M
ECX net income was -$66.04M for fiscal 2025 (ended Dec 31, 2025), compared with -$129.76M in fiscal 2024.
ECX EPSFY2025-$0.20
ECX diluted EPS was -$0.20 for fiscal 2025 (ended Dec 31, 2025), compared with -$0.39 in fiscal 2024.
ECX free cash flowFY2025-$106.56M
ECX free cash flow was -$106.56M for fiscal 2025 (ended Dec 31, 2025), compared with -$75.89M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue | $847.86M | $771.53M | $662.23M | $515.74M |
| Cost of revenue | $686.60M | $611.43M | $483.61M | $372.13M |
| Gross profit | $161.26M | $160.10M | $178.62M | $143.61M |
| Research and development | $123.34M | $174.86M | $177.68M | $175.56M |
| Selling, general and admin | $93.84M | $108.19M | $131.72M | $171.12M |
| Operating income | -$54.77M | -$122.90M | -$130.02M | -$212.59M |
| Interest expense | $23.77M | $18.57M | $11.24M | $7.41M |
| Pre-tax income | -$67.69M | -$137.54M | -$144.42M | -$220.33M |
| Income tax | $1.24M | $210.0K | -$525.0K | $3.13M |
| Net income | -$66.04M | -$129.76M | -$133.31M | -$223.18M |
| EPS, basic | -$0.20 | -$0.39 | -$0.40 | -$1.15 |
| EPS, diluted | -$0.20 | -$0.39 | -$0.40 | -$1.15 |
| Diluted shares | 338.7M | 336.6M | 337.4M | 239.3M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Cash and equivalents | $87.12M | $44.25M | $80.28M | $130.68M |
| Receivables | - | - | - | $60.64M |
| Inventory | $62.34M | $31.86M | $22.65M | $19.07M |
| Current assets | $483.18M | $386.13M | $463.21M | $475.71M |
| Goodwill | $3.69M | $3.50M | - | - |
| Total assets | $662.41M | $514.34M | $601.09M | $616.34M |
| Current liabilities | $823.00M | $698.65M | $593.74M | $521.86M |
| Short-term debt | $310.66M | $185.24M | $169.02M | $126.14M |
| Long-term debt | $60.28M | $0 | $64.18M | $63.77M |
| Total debt | $370.94M | $185.24M | $233.20M | $189.91M |
| Total liabilities | $945.88M | $752.05M | $718.62M | $642.03M |
| Shareholders' equity | -$282.66M | -$239.67M | -$117.11M | -$4.99M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Operating cash flow | -$94.39M | -$59.98M | -$172.44M | -$58.83M |
| Capital expenditures | $12.17M | $15.91M | $8.88M | $18.53M |
| Free cash flow | -$106.56M | -$75.89M | -$181.32M | -$77.36M |
| Investing cash flow | -$70.48M | -$8.12M | $87.27M | -$41.11M |
| Financing cash flow | $203.86M | $36.35M | $40.62M | $77.97M |
| Stock-based compensation | $13.34M | $19.06M | $24.87M | $105.21M |
| Depreciation and amortization | $19.87M | $20.57M | $12.11M | $9.81M |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 |
|---|---|---|---|---|
| Revenue growth, YoY | 9.9% | 16.5% | 28.4% | - |
| Gross margin | 19.0% | 20.8% | 27.0% | 27.8% |
| Operating margin | -6.5% | -15.9% | -19.6% | -41.2% |
| Net margin | -7.8% | -16.8% | -20.1% | -43.3% |
| Free cash flow margin | -12.6% | -9.8% | -27.4% | -15.0% |
| Return on assets | -10.0% | -25.2% | -22.2% | -36.2% |
| Current ratio | 0.59 | 0.55 | 0.78 | 0.91 |
Source: XBRL data ECARX Holdings Inc. files with the SEC, latest filing dated Mar 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
ECX peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| ECX | $847.86M | +9.9% | -$66.04M | -7.8% | $297.3M |
| ADP | $22.26B | +6.5% | $4.53B | 20.3% | $120.58B |
| INFY | $20.16B | +4.6% | $3.31B | 16.4% | $51.05B |
| WDAY | $10.15B | +13.3% | $1.25B | 12.3% | $45.52B |
| ZS | $3.35B | +25.4% | -$63.18M | -1.9% | $31.78B |
| CTSH | $21.89B | +5.0% | $2.57B | 11.8% | $29.06B |
| VRSN | $1.73B | +6.5% | $849.80M | 49.1% | $27.91B |
| VRSK | $3.18B | +4.9% | $879.20M | 27.7% | $26.17B |
| IOT | $1.85B | +29.5% | $90.55M | 4.9% | $24.27B |
ECX FAQ
9 questionsWhat is ECX revenue?
ECARX Holdings Inc. (ECX) reported $847.86M of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 9.9% from the year before.Is ECX profitable?
No. ECARX Holdings Inc. reported a net loss of $66.04M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does ECX have?
ECARX Holdings Inc. reported $87.12M in cash and cash equivalents and $370.94M of debt on its most recent balance sheet in SEC filings.How fast is ECX revenue growing?
ECARX Holdings Inc.'s revenue changed +9.9% in fiscal 2025, to $847.86M.What is ECX gross margin?
ECARX Holdings Inc.'s gross profit was $161.26M on $847.86M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 19.0%.What is ECX free cash flow?
ECARX Holdings Inc. generated -$106.56M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$94.39M less capital expenditures.What is ECX earnings per share?
Diluted earnings per share were -$0.20 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did ECX last report financial results?
The latest statements here come from ECARX Holdings Inc.'s 20-F filed on Mar 30, 2026, covering the period ended Dec 31, 2025.Where does this ECX financial data come from?
Quantisnow builds these statements from the structured XBRL data ECARX Holdings Inc. files with the SEC. It is provided for information only and is not investment advice.