TC revenueFY2025CN¥5.92M
- FY YoY
- -88.0%
- 5Y CAGR
- -55.3%
TC revenue was CN¥5.92M for fiscal 2025 (ended Dec 31, 2025), down 88.0% from fiscal 2024. Compound annual growth was -55.3% over 5 years. It rose in 3 of the last 9 fiscal years.
Financials · TC
Token Cat Limited (TC) financials
For fiscal 2025 (ended Dec 31, 2025), Token Cat Limited reported CN¥5.92M of revenue and CN¥2.27M of net income. Figures are in CNY, the currency of its SEC filings.
- Revenue, FY2025
- CN¥5.92M
- Revenue growth, YoY
- -88.0%
- Net income, FY2025
- CN¥2.27M
- Net margin
- 38.3%
- EPS, diluted, FY2025
- CN¥0.07
- Cash
- CN¥976.0K
FY2016FY2025
FY2016FY2025
FY2016FY2024
TC revenue and earnings growth
TC net incomeFY2025CN¥2.27M
TC net income was CN¥2.27M for fiscal 2025 (ended Dec 31, 2025), compared with -CN¥187.99M in fiscal 2024. Fiscal 2025 is the highest of the 10 fiscal years on file.
TC EPSFY2025CN¥0.07
TC diluted EPS was CN¥0.07 for fiscal 2025 (ended Dec 31, 2025), compared with -CN¥0.36 in fiscal 2024.
TC free cash flowFY2024-CN¥34.74M
TC free cash flow was -CN¥34.74M for fiscal 2024 (ended Dec 31, 2024).
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥5.92M | CN¥49.18M | CN¥162.37M | CN¥183.19M | CN¥357.55M | CN¥330.23M | CN¥644.77M | CN¥651.01M | CN¥280.67M | CN¥117.35M |
| Cost of revenue | CN¥5.75M | CN¥15.60M | CN¥68.94M | CN¥70.54M | CN¥85.29M | CN¥88.80M | CN¥186.54M | CN¥183.37M | CN¥85.74M | CN¥17.75M |
| Gross profit | CN¥168.0K | CN¥33.58M | CN¥93.42M | CN¥112.65M | CN¥272.26M | CN¥241.43M | CN¥458.23M | CN¥467.64M | CN¥194.92M | CN¥99.61M |
| Research and development | - | CN¥11.89M | CN¥11.27M | CN¥19.80M | CN¥35.65M | CN¥34.27M | CN¥43.34M | CN¥19.26M | CN¥15.93M | CN¥19.58M |
| Selling, general and admin | CN¥34.64M | CN¥37.58M | CN¥24.54M | CN¥64.71M | CN¥72.79M | CN¥98.82M | CN¥103.89M | CN¥84.36M | CN¥27.49M | CN¥24.46M |
| Operating income | -CN¥34.48M | -CN¥37.58M | -CN¥24.54M | -CN¥119.30M | -CN¥110.85M | -CN¥171.32M | -CN¥261.04M | -CN¥68.04M | -CN¥71.74M | -CN¥81.09M |
| Pre-tax income | CN¥42.53M | -CN¥94.27M | -CN¥3.16M | -CN¥171.94M | -CN¥101.94M | -CN¥164.51M | -CN¥251.30M | -CN¥75.09M | -CN¥75.69M | -CN¥81.51M |
| Income tax | - | - | CN¥0 | -CN¥5.45M | CN¥0 | -CN¥1.03M | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Net income | CN¥2.27M | -CN¥187.99M | -CN¥82.97M | -CN¥166.49M | -CN¥101.94M | -CN¥163.48M | -CN¥251.30M | -CN¥78.70M | -CN¥90.67M | -CN¥86.57M |
| EPS, basic | CN¥0.07 | -CN¥0.36 | -CN¥0.20 | -CN¥0.52 | -CN¥0.33 | -CN¥0.54 | -CN¥0.85 | -CN¥0.90 | -CN¥1.02 | -CN¥1.10 |
| EPS, diluted | CN¥0.07 | -CN¥0.36 | -CN¥0.20 | -CN¥0.52 | -CN¥0.33 | -CN¥0.54 | -CN¥0.85 | -CN¥0.90 | -CN¥1.02 | -CN¥1.10 |
| Diluted shares | 569.1M | 520.2M | 406.8M | 319.5M | 306.8M | 304.4M | 294.9M | 121.9M | 94.9M | 89.4M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | CN¥976.0K | CN¥4.60M | CN¥3.00M | CN¥69.89M | CN¥63.46M | CN¥109.92M | CN¥193.92M | CN¥578.56M | CN¥66.69M | CN¥24.79M |
| Short-term investments | - | - | - | - | - | - | - | - | CN¥4.00M | - |
| Receivables | CN¥6.52M | CN¥12.76M | CN¥28.89M | CN¥49.97M | CN¥47.95M | CN¥66.13M | CN¥72.39M | CN¥52.26M | CN¥8.47M | - |
| Current assets | CN¥172.88M | CN¥38.05M | CN¥61.99M | CN¥173.67M | CN¥205.71M | CN¥311.40M | CN¥531.38M | CN¥699.63M | CN¥109.55M | - |
| Goodwill | - | - | CN¥45.56M | CN¥45.56M | CN¥115.41M | CN¥115.41M | - | - | - | - |
| Total assets | CN¥172.88M | CN¥44.14M | CN¥119.35M | CN¥235.27M | CN¥353.07M | CN¥474.41M | CN¥567.20M | CN¥725.92M | CN¥112.83M | - |
| Current liabilities | CN¥16.22M | CN¥103.03M | CN¥86.76M | CN¥108.56M | CN¥151.78M | CN¥176.16M | CN¥142.06M | CN¥123.94M | CN¥171.05M | - |
| Short-term debt | CN¥6.21M | CN¥31.73M | CN¥15.69M | CN¥3.17M | CN¥7.00M | - | - | CN¥0 | CN¥24.97M | - |
| Long-term debt | - | CN¥10.00M | CN¥3.00M | CN¥1.55M | - | - | - | CN¥0 | CN¥2.93M | - |
| Total debt | - | CN¥41.73M | CN¥18.69M | CN¥4.71M | - | - | - | CN¥0 | CN¥27.90M | - |
| Total liabilities | CN¥40.60M | CN¥184.95M | CN¥99.86M | CN¥142.49M | CN¥159.76M | CN¥187.35M | CN¥144.22M | CN¥123.94M | CN¥176.80M | - |
| Shareholders' equity | CN¥132.28M | -CN¥140.81M | CN¥19.48M | CN¥92.78M | CN¥193.31M | CN¥287.06M | CN¥422.98M | CN¥601.99M | -CN¥400.04M | -CN¥290.10M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -CN¥176.36M | -CN¥34.72M | -CN¥74.89M | -CN¥109.68M | -CN¥92.25M | -CN¥88.85M | -CN¥161.81M | -CN¥53.34M | -CN¥59.66M | -CN¥54.09M |
| Capital expenditures | - | CN¥19.0K | - | CN¥212.0K | CN¥968.0K | CN¥2.05M | CN¥13.24M | CN¥20.71M | CN¥272.0K | CN¥65.0K |
| Free cash flow | - | -CN¥34.74M | - | -CN¥109.89M | -CN¥93.22M | -CN¥90.90M | -CN¥175.05M | -CN¥74.05M | -CN¥59.93M | -CN¥54.16M |
| Investing cash flow | -CN¥4.90M | -CN¥19.0K | - | -CN¥212.0K | CN¥47.86M | CN¥37.70M | -CN¥187.55M | -CN¥20.75M | -CN¥4.27M | CN¥14.97M |
| Financing cash flow | CN¥163.59M | CN¥30.16M | CN¥13.97M | CN¥91.24M | CN¥7.00M | -CN¥63.0K | -CN¥37.24M | CN¥562.13M | CN¥117.95M | CN¥52.48M |
| Share repurchases | - | - | - | - | - | - | CN¥13.75M | - | - | - |
| Stock-based compensation | CN¥24.56M | CN¥28.39M | CN¥9.55M | CN¥10.28M | CN¥9.80M | CN¥17.45M | CN¥110.40M | CN¥78.13M | CN¥1.90M | CN¥2.86M |
| Depreciation and amortization | - | - | - | - | - | - | - | CN¥1.10M | CN¥1.00M | - |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -88.0% | -69.7% | -11.4% | -48.8% | 8.3% | -48.8% | -1.0% | 132.0% | 139.2% | - |
| Gross margin | 2.8% | 68.3% | 57.5% | 61.5% | 76.1% | 73.1% | 71.1% | 71.8% | 69.5% | 84.9% |
| Operating margin | -582.3% | -76.4% | -15.1% | -65.1% | -31.0% | -51.9% | -40.5% | -10.5% | -25.6% | -69.1% |
| Net margin | 38.3% | -382.3% | -51.1% | -90.9% | -28.5% | -49.5% | -39.0% | -12.1% | -32.3% | -73.8% |
| Free cash flow margin | - | -70.6% | - | -60.0% | -26.1% | -27.5% | -27.1% | -11.4% | -21.4% | -46.1% |
| Return on equity | 1.7% | - | -425.8% | -179.4% | -52.7% | -56.9% | -59.4% | -13.1% | - | - |
| Return on assets | 1.3% | -425.9% | -69.5% | -70.8% | -28.9% | -34.5% | -44.3% | -10.8% | -80.4% | - |
| Current ratio | 10.66 | 0.37 | 0.71 | 1.60 | 1.36 | 1.77 | 3.74 | 5.65 | 0.64 | - |
| Debt to equity | - | - | 0.96 | 0.05 | - | - | - | 0.00 | - | - |
Income statement
| Line item | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 |
|---|---|---|---|---|---|
| Revenue | CN¥65.00M | CN¥200.00M | CN¥150.00M | CN¥120.00M | CN¥65.00M |
Balance sheet
| Line item | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 |
|---|---|---|---|---|---|
| Cash and equivalents | - | CN¥578.56M | - | - | - |
| Receivables | - | CN¥52.26M | - | - | - |
| Current assets | - | CN¥699.63M | - | - | - |
| Total assets | - | CN¥725.92M | - | - | - |
| Current liabilities | - | CN¥123.94M | - | - | - |
| Short-term debt | - | CN¥0 | - | - | - |
| Long-term debt | - | CN¥0 | - | - | - |
| Total debt | - | CN¥0 | - | - | - |
| Total liabilities | - | CN¥123.94M | - | - | - |
| Shareholders' equity | - | CN¥601.99M | - | - | - |
Cash flow
Key ratios
Source: XBRL data Token Cat Limited files with the SEC, latest filing dated May 8, 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.
TC peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| TC | CN¥5.92M | -88.0% | CN¥2.27M | 38.3% | $21.9M |
| V | $45.90B | +14.8% | $23.50B | 51.2% | $755.16B |
| MA | $36.29B | +15.3% | $16.96B | 46.7% | $568.62B |
| BABA | CN¥1.02T | +2.7% | CN¥103.59B | 10.1% | $265.13B |
| ACN | $74.18B | +6.5% | $8.37B | 11.3% | $174.20B |
| UBER | $56.53B | +13.9% | $3.46B | 6.1% | $140.05B |
| PDD | CN¥431.85B | +9.7% | CN¥97.84B | 22.7% | $118.18B |
| DASH | $17.06B | +35.0% | $1.06B | 6.2% | $78.33B |
| MELI | $38.52B | +47.1% | $1.89B | 4.9% | $76.55B |
TC FAQ
8 questionsWhat is TC revenue?
Token Cat Limited (TC) reported CN¥5.92M of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 88.0% from the year before.Is TC profitable?
Yes. Token Cat Limited earned CN¥2.27M in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 38.3%.How much cash and debt does TC have?
Token Cat Limited reported CN¥976.0K in cash and cash equivalents on its most recent balance sheet in SEC filings.How fast is TC revenue growing?
Token Cat Limited's revenue changed -88.0% in fiscal 2025, to CN¥5.92M. Its compound annual growth rate was -55.3% over 5 years.What is TC gross margin?
Token Cat Limited's gross profit was CN¥168.0K on CN¥5.92M of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 2.8%.What is TC earnings per share?
Diluted earnings per share were CN¥0.07 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did TC last report financial results?
The latest statements here come from Token Cat Limited's 20-F filed on May 8, 2026, covering the period ended Dec 31, 2025.Where does this TC financial data come from?
Quantisnow builds these statements from the structured XBRL data Token Cat Limited files with the SEC. It is provided for information only and is not investment advice.