Detailed financial statements for Infobird Co., Ltd (IFBD): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Infobird Co., Ltd, operating through its various subsidiaries, is a prominent provider of AI-driven customer engagement solutions within the People's Republic of China, delivered primarily through a Software-as-a-Service (SaaS) model. The company's offerings encompass a suite of cloud-based customer relationship management (CRM) services, extending beyond traditional SaaS to include business process outsourcing (BPO) for its clientele.
Analysis Summary
Infobird Co., Ltd reported revenue of $8.7M in the most recent fiscal year, growing at a 5-year CAGR of -9.7%.
Trailing-twelve-month margins: gross margin 29.5%, operating margin -18.9%, net margin -6.6%.
At the current price of $0.99, IFBD has negative trailing earnings (P/E not meaningful) and an ROE of -138.27%. Market capitalisation stands at $8M.
Balance sheet quality for IFBD: current ratio of 2.0, net cash position of $4.1M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Revenue | $18.8M | $18.2M | $14.5M | $9.6M | 0 | $280000 | $1.4M | $8.7M |
| Cost of Revenue | $9.3M | $8.0M | $4.7M | $7.4M | 0 | $125271 | $845236 | $6.1M |
| Gross Profit | $9.5M | $10.3M | $9.8M | $2.3M | 0 | $154729 | $592612 | $2.6M |
| Research & Development | $3.0M | $1.5M | $1.9M | $3.3M | $3.3M | 0 | $15074 | $97518 |
| Selling, General & Admin | $3.4M | $2.7M | $3.5M | $9.8M | $897411 | $3.3M | $2.3M | $4.1M |
| Operating Expenses | $6.4M | $4.2M | $5.4M | $16.7M | $897411 | $3.3M | $2.3M | $4.2M |
| Operating Income | $3.1M | $6.0M | $4.4M | -$14.5M | -$897411 | -$3.2M | -$1.7M | -$1.6M |
| EBITDA | $3.4M | $6.4M | $5.0M | -$12.6M | -$1.3M | -$20.1M | -$1.4M | -$56.3M |
| Interest Expense | $497057 | $411298 | $208506 | $317402 | $1.2M | $736941 | $546525 | $504116 |
| Pre-tax Income | $2.6M | $5.8M | $4.3M | -$14.1M | -$2.5M | -$21.4M | -$2.1M | -$57.2M |
| Income Tax | $145263 | $673034 | $286071 | $124058 | 0 | 0 | $21008 | 0 |
| Net Income | $2.6M | $4.8M | $4.0M | -$13.9M | -$15.3M | -$2.6M | -$2.1M | -$57.2M |
| EPS | $548.33 | $1020.50 | $633.44 | $-2369.30 | $-10613.00 | $-6.55 | $-1.05 | $-7.13 |
| EPS (Diluted) | $548.33 | $1020.50 | $633.44 | $-2369.30 | $-10613.00 | $-6.55 | $-1.05 | $-7.13 |
| Shares Outstanding (Diluted) | $4750 | $4750 | $6312 | $5855 | $1438 | $393572 | $2.0M | $8.0M |
Income Statement (Quarterly)
| Year | 2024-Q2 | 2024-Q4 | 2025-Q2 | 2025-Q4 |
|---|
| Revenue | $20000 | $1.4M | $3.4M | $5.3M |
| Gross Profit | $1622 | $590990 | $1.3M | $1.3M |
| Operating Income | -$827010 | -$907694 | -$1.1M | -$552701 |
| EBITDA | $15059 | -$592942 | -$1.0M | -$55.4M |
| Net Income | -$811951 | -$1.3M | -$1.6M | -$55.6M |
| EPS | $-0.43 | $-0.62 | $-0.41 | $-6.79 |
| EPS (Diluted) | $-0.43 | $-0.62 | $-0.41 | $-6.79 |
Balance Sheet (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Cash & Equivalents | $2.7M | $3.5M | $1.7M | $6.3M | $209561 | $52659 | $4.7M | $5.1M |
| Short-term Investments | 0 | 0 | 0 | $7.1M | $6.7M | 0 | 0 | 0 |
| Receivables | $3.8M | $2.4M | $4.2M | $6.5M | $14.0M | $5.4M | $5.2M | $4.2M |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $6.6M | $5.9M | $7.3M | $20.4M | $27.4M | $5.5M | $10.0M | $9.6M |
| Property, Plant & Equipment | $2.1M | $2.0M | $2.2M | $547334 | $206329 | 0 | $1.3M | $1.0M |
| Goodwill | 0 | 0 | 0 | $2.0M | $478657 | 0 | $62.4M | $12.6M |
| Intangible Assets | $816049 | $2.2M | $5.2M | $4.8M | $2.6M | 0 | 0 | 0 |
| Total Assets | $10.4M | $11.1M | $16.0M | $28.5M | $30.6M | $57.7M | $73.8M | $23.2M |
| Accounts Payable | $1.7M | $1.2M | $552540 | $4.5M | $3.2M | 0 | $2.8M | $3.3M |
| Short-term Debt | $4.2M | $2.9M | $3.1M | $4.5M | $3.5M | 0 | 0 | $922883 |
| Total Current Liabilities | $10.0M | $7.3M | $7.5M | $12.3M | $24.1M | $62997 | $3.8M | $4.8M |
| Long-term Debt | 0 | 0 | 0 | $131603 | $18170 | 0 | 0 | 0 |
| Total Liabilities | $10.1M | $7.5M | $7.8M | $12.6M | $24.1M | $62997 | $7.0M | $5.0M |
| Retained Earnings | -$7.3M | -$2.5M | $1.1M | -$12.8M | -$27.6M | -$24.6M | -$26.7M | -$83.9M |
| Total Equity | $290666 | $3.4M | $7.9M | $15.1M | $6.6M | $57.6M | $64.8M | $16.0M |
| Total Debt | $4.2M | $2.9M | $3.1M | $4.9M | $3.6M | 0 | $505225 | $1.0M |
| Net Debt | $1.5M | -$636600 | $1.4M | -$8.5M | -$3.3M | -$52659 | -$4.2M | -$4.1M |
| Working Capital | -$3.4M | -$1.4M | -$215350 | $8.1M | $3.3M | $5.4M | $6.2M | $4.7M |
Balance Sheet (Quarterly)
| Year | 2024-Q2 | 2024-Q4 | 2025-Q2 | 2025-Q4 |
|---|
| Cash & Equivalents | $6.2M | $4.7M | $5.2M | $5.1M |
| Total Assets | $62.6M | $73.8M | $72.4M | $23.2M |
| Total Liabilities | $146364 | $7.0M | $3.7M | $5.0M |
| Total Equity | $62.5M | $64.8M | $66.7M | $16.0M |
| Total Debt | 0 | $505225 | $485293 | $1.0M |
Cash Flow (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Net Income | $2.4M | $5.1M | $4.1M | -$13.9M | -$15.3M | -$21.4M | -$2.1M | -$57.2M |
| Depreciation & Amortization | $341928 | $203529 | $481993 | $1.1M | 0 | 0 | $113010 | $412530 |
| Stock-based Compensation | 0 | 0 | 0 | 0 | $10133 | 0 | 0 | 0 |
| Change in Working Capital | -$3.9M | $644223 | -$3.4M | $31621 | $20000 | -$4.1M | -$2.6M | $1.0M |
| Operating Cash Flow | -$1.2M | $6.3M | $1.5M | -$7.5M | -$5.2M | -$2.7M | -$4.2M | -$521734 |
| Capital Expenditure | -$644482 | -$2.1M | -$3.2M | -$2.1M | $1 | $1 | -$768803 | $4 |
| Acquisitions | 0 | 0 | 0 | -$1.3M | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$1.8M | $4.3M | -$1.7M | -$9.7M | -$5.2M | -$2.7M | -$5.0M | -$521730 |
Cash Flow (Quarterly)
| Year | 2024-Q2 | 2024-Q4 | 2025-Q2 | 2025-Q4 |
|---|
| Operating Cash Flow | $4.3M | $1.9M | $1.1M | -$1.6M |
| Capital Expenditure | -$752886 | -$15913 | $2 | $2 |
| Free Cash Flow | $3.6M | $1.9M | $1.1M | -$1.6M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | 0 | 0 | 0 | 0 |
Growth & Margins (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Revenue Growth (YoY) | | -2.9% | -20.4% | -33.7% | -100.0% | | +413.5% | +505.5% |
| Net Income Growth (YoY) | | +86.1% | -17.5% | -447.0% | -10.1% | +83.1% | +18.5% | -2624.4% |
| EPS Growth (YoY) | | +86.1% | -37.9% | -474.0% | -347.9% | +99.9% | +84.0% | -579.0% |
| Shares Change (YoY) | | +0.0% | +32.9% | -7.2% | -75.4% | +27261.8% | +407.1% | +301.7% |
| FCF Growth (YoY) | | +336.1% | -140.1% | -465.9% | +46.1% | +47.9% | -84.4% | +89.6% |
| Gross Margin | 50.5% | 56.2% | 67.5% | 23.5% | | 55.3% | 41.2% | 29.5% |
| Operating Margin | 16.3% | 33.1% | 30.1% | -150.1% | | -1127.3% | -120.6% | -18.9% |
| EBITDA Margin | 18.2% | 35.0% | 34.7% | -131.1% | | -7183.6% | -98.8% | -646.5% |
| Net Margin | 13.9% | 26.6% | 27.5% | -143.9% | | -920.2% | -146.0% | -656.8% |
| FCF Margin | -9.6% | 23.4% | -11.8% | -100.5% | | -971.4% | -348.9% | -6.0% |
| Effective Tax Rate | 5.6% | 11.7% | 6.6% | -0.9% | -0.0% | -0.0% | -1.0% | -0.0% |
Per-Share Data (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF Per Share | $-380.48 | $898.30 | $-271.21 | $-1654.45 | $-3631.72 | $-6.91 | $-2.51 | $-0.07 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $4750 | $4750 | $6312 | $5855 | $1438 | $393572 | $2.0M | $8.0M |
What to look at in Technology companies
- Revenue growth 3y (>=15%/year) — Validates sustained traction, not a one-off.
- Gross margin (Sub-sector dependent) — SaaS >=70%, Internet >=55%, Semis >=45%, Hardware >=35%.
- FCF / Revenue (>=20%) — Real cash generated. Many tech firms dress up non-GAAP earnings.
- ROIC (>=15%) — Capital reinvested efficiency — Buffett's first metric.
- SBC / Revenue (<10% healthy) — Stock-based compensation. Silent dilution: >20% destroys value.
- Net Debt / EBITDA (<=2x (1.5x SaaS)) — Resilience in downturns and rate hikes.
Profitability
| Return on Equity | -138.27% |
| Return on Invested Capital | -8.56% |
| Return on Assets | -247.00% |
| Gross Margin | 29.50% |
| Operating Margin | -18.91% |
| Net Margin | -656.80% |
Financial Health
| Debt / Equity | 0.06 |
| Current Ratio | 1.98 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -3.76 |
Key Ratios (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 43.99 | 23.64 | 38.08 | -1.82 | -0.05 | -1.69 | -2.15 | -0.13 |
| P/B | 394.16 | 33.46 | 19.30 | 1.68 | 0.10 | 0.08 | 0.07 | 0.48 |
| P/S | 6.10 | 6.28 | 10.48 | 2.62 | 0.00 | 15.52 | 3.14 | 0.88 |
| Gross Margin | 50.5% | 56.2% | 67.5% | 23.5% | 0.0% | 55.3% | 41.2% | 29.5% |
| Operating Margin | 16.3% | 33.1% | 30.1% | -150.1% | 0.0% | -1127.3% | -120.6% | -18.9% |
| Net Margin | 13.9% | 26.6% | 27.5% | -143.9% | 0.0% | -920.2% | -146.0% | -656.8% |