Alset Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $4.5M | $21.1M | $22.1M | $4.5M | $19.8M |
| Cost of revenue | $3.2M | $12.8M | $14.6M | $3.7M | $11.3M |
| Gross profit | $1.2M | $8.3M | $7.5M | $748,452 | $8.5M |
| Operating expenses | — | — | — | — | $34.8M |
| Operating income | -$15.2M | -$4.1M | -$2.9M | -$7.1M | -$15.0M |
| Interest expense | $54,549 | $112,075 | $3,979 | $1,853 | $317,281 |
| Pretax income | -$48.9M | -$4.0M | -$61.2M | -$46.2M | -$118.5M |
| Income tax expense | $432,086 | $150,786 | $92,350 | — | $534,014 |
| Net income | -$47.4M | -$4.0M | -$58.9M | -$40.5M | -$119.0M |
| Balance Sheet | |||||
| Cash and equivalents | $25.2M | $27.2M | $26.9M | $17.8M | — |
| Current assets | $45.3M | $59.8M | $55.5M | $95.4M | $142.7M |
| Total assets | $136.6M | $96.8M | $126.3M | $153.5M | $184.2M |
| Current liabilities | $5.9M | $5.5M | $8.1M | $3.2M | $13.5M |
| Total liabilities | $6.9M | $6.6M | $9.1M | $4.8M | $13.9M |
| Total debt | — | $0 | $189,475 | $189,475 | $188,125 |
| Stockholders' equity | $121.1M | $81.3M | $88.2M | $137.7M | $148.4M |
| Cash Flow Statement | |||||
| Cash from operations | -$5.9M | $5.2M | $7.5M | -$31.9M | -$16.7M |
| Depreciation and amortization | $1.2M | $1.2M | $1.2M | $963,077 | $166,451 |
| Stock-based compensation | $2.4M | $0 | $0 | $0 | $134,192 |
| Capital expenditure | $175,464 | $102,749 | $29,105 | $599,650 | $227,821 |
| Free cash flow | -$6.1M | $5.1M | $7.4M | -$32.5M | -$16.9M |
| Share repurchases | — | $21.1M | — | — | — |
| Impairments | $30.1M | — | — | — | — |
Shares outstanding 38.9M · Free float 9.5%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.