0001493152-26-006271
SEC filingAutozi Internet Technology (Global) Ltd. (AZI) reported FY 2025 results with revenues of $122.8M, up from prior periods though exact YoY not disclosed, driven by core operations but offset by high costs. Gross profit stood at $2.2M from $122.8M revenues and $120.6M cost of revenues, yielding a slim gross margin. Total operating expenses of $19.7M, including $16.5M G&A, $2.1M selling/marketing, and $1.1M R&D, led to an operating loss of -$17.5M. Other expenses included litigation -$4.3M, interest $2.1M, and fair value changes on convertible notes -$948K, resulting in loss before tax of -$16.6M and net loss of -$16.6M. Net loss attributable to ordinary shareholders was -$16.5M, with basic/diluted EPS of -$7 on 2.1M weighted average shares. Balance sheet shows total assets $12.0M, heavily outweighed by $37.6M liabilities, yielding shareholders' deficit of -$25.6M. Cash used in operations was -$4.7M, with net cash decrease of -$2.2M to $2.1M end balance amid IPO proceeds of $9.0M and financing inflows. High debt ($9.5M convertibles, $9.0M short-term borrowings) and payables signal liquidity pressures, with forward significance tied to post-IPO stabilization and cost controls.
Autozi Internet Technology (Global) Ltd. (AZI) posted FY 2025 ending September 30, 2025, revenues of $122.8M and cost of revenues $120.6M, yielding gross profit $2.2M. Operating expenses totaled $19.7M (G&A $16.5M, selling/marketing $2.1M, R&D $1.1M), driving operating loss to -$17.5M. Other items included litigation expenses -$4.3M, interest expenses $2.1M, other net -$1.1M, convertible notes fair value change -$948K, and deconsolidation gain $759K, netting other expense/income $947K. Loss before tax was -$16.6M, income tax $19K, with net loss -$16.6M. Attributable to ordinary shareholders: -$16.5M after adjustments for non-controlling -$65K, mezzanine $162K, accretion $11.6M, and IPO conversion -$53.5M. Comprehensive loss -$15.4M, attributable to AUTOZI -$16.0M. EPS basic/diluted -$7 on 2.1M basic shares. No prior year figures disclosed for direct comparison. Total assets $12.0M, liabilities $37.6M, shareholders' deficit -$25.6M.
Revenues totaled $122.8M for FY 2025. No segment breakdown, geographic mix, or growth drivers explicitly disclosed in the filing. Cost of revenues at $120.6M closely tracked revenues, indicating high variable costs likely tied to core internet technology operations. No YoY revenue comparison provided.
Gross profit $2.2M on $122.8M revenues implies ~1.8% gross margin, pressured by $120.6M costs. Operating margin deeply negative at ~ -14.2% from $19.7M expenses, dominated by $16.5M G&A likely including share-based compensation $9.4M (noted in cash flows). High fixed costs and litigation/other expenses eroded profitability, with net margin ~ -13.5%. No prior period margins for trend analysis.
Net cash used in operations -$4.7M despite net loss -$16.6M, adjusted by $9.4M share-based comp, $2.2M note issuance costs, and working capital shifts (e.g., inventories -$2.9M, deferred revenue -$4.8M). Investing used -$44K net. Financing provided $2.5M, including IPO $9.0M, borrowings net $1.0M, capital $8.8M. Net cash decrease -$2.2M; ending cash/restricted $2.1M (cash $268K, restricted $501K). Balance sheet: current assets $11.6M (advances $6.8M dominant), total $12.0M. Current liabilities $37.5M (accrued $13.9M, redeemable payables $16.6M, debt/convertibles $18.5M), total liabilities $37.6M. Deficit from accumulated -$146.0M vs $94.6M paid-in capital.
No management guidance, strategic priorities, or specific risk factors beyond commitments (Note 23) disclosed in the provided filing data. Post-IPO activities noted (shares issuance $9.0M net, conversions $131.3M non-cash), with ongoing litigation and high debt levels ($9.5M convertibles, $9.0M short-term) as implicit concerns.