The9 LTD income statement

In fiscal 2025, The9 LTD reported revenue of $15.0m, down 3.3% on the year before, operating income of −$39.1m (a -260.5% margin) and net income of −$56.0m, or −$7.51 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

The9 LTD: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	118	16	17	26	17	11	7	8	11	3	0	0	21	16	25	16	15
Cost of revenue	104	15	6	11	18	14	11	7	4	2	0	0	14	23	30	16	15
Gross profit	7	−0	10	13	−0	−3	−3	1	7	0	−0	−0	7	−7	−6	−0	0
Research and development	17	21	33	48	35	25	21	12	7	4	2	0	0	0	0	0	1
Selling and marketing	16	9	14	30	19	8	5	3	1	0	0	0	0	1	0	0	5
General and administrative	33	17	27	27	26	18	21	19	16	14	16	16	45	54	28	22	29
Operating income	−71	−52	−59	−94	−86	−26	−52	−45	−17	−16	−24	49	−48	−99	−45	−8	−39
Interest expense	—	—	—	—	—	—	1	9	12	16	5	1	18	3	4	5	3
Net interest income	4	3	5	3	1	1	—	—	—	—	—	—	—	—	—	—	—
Income before tax	—	—	—	—	−91	−20	−54	−85	−25	−36	−28	58	−61	−103	2	−10	−57
Income tax	−1	1	0	0	0	0	0	−1	0	0	0	1	0	0	0	0	0
Net income	−59	−74	−44	−81	−86	−17	−61	−89	−17	−33	−26	58	−64	−145	3	−10	−56
Diluted EPS	—	−$293.85	−$176.26	−$332.54	−$369.43	−$75.47	−$263.47	—	—	—	−$25.92	$35.08	−$38.60	—	$0.85	−$2.08	−$7.51
Diluted shares (average)	—	—	—	—	—	—	—	—	—	—	1m	2m	2m	—	3m	5m	8m
EBITDA	—	—	—	—	−83	−24	−50	−43	−16	−15	—	—	−40	−85	−33	—	—

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from The9 LTD's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to The9 LTD.