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Directbooking Technology Co., Ltd. (ZDAI) stock

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NASDAQ: ZDAI Nasdaq Internet Services & Infrastructure

E Fundamentals grade

Directbooking Technology Co., Ltd. is a US-listed company in the internet services & infrastructure industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: valuation models disagree too widely to rate.

Price vs value

Under review: valuation models disagree too widely to rate. We'll show the comparison once resolved.

Directbooking Technology Co., Ltd. valuation: adjust assumptions and compare models →

Value diary

Our note on each quarter Directbooking Technology files

Where Directbooking Technology Co. stands after its latest Filing

Revenue for the twelve months was $9m, down 53.6% on a year earlier, against growth of 43.2% a quarter earlier. That puts it 33 of 34 for growth among the internet services & infrastructure companies we cover. Free-cash-flow margin fell to -15.9% from 13.5% a year earlier. Operating margin narrowed to -153.7% from 21.6%. The diluted share count is up 108.6% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 3 of our 6 financial-health checks.

Our model value for Directbooking Technology is under review, so past values are not shown until it is resolved.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Directbooking Technology Co., Ltd.'s trailing-twelve-month revenue fell 53.6% year on year, with a free-cash-flow margin of -15.9%. Where it lags: gross margin of -21.5% ranks 16 of 16 internet services & infrastructure companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 52.1% while net income fell 90.4%: a 142pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Directbooking Technology Co., Ltd.'s latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 53.6% over the last 12 months.
  • Growth slowing. The growth rate is 96.8 points lower than a quarter earlier.
  • Loss-making. Operating margin is -153.7%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 116.5 points on a year ago.
  • Burning cash. Free cash flow was -15.9% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 108.6% in a year.

Price chart

  • 1 day+7.9%
  • 1 week+12.6%
  • 1 month-17.6%
  • This year-63.1%
  • 1 year-82.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$8.9M
Operating margin
-153.7%
Net margin
-148.8%
EPS (TTM, diluted)
$-4.13

Growth

Revenue growth
−53.6%
Change in growth rate
−96.8 pts
Share count change
+108.6%

Cash

Free cash flow (TTM)
-$1.4M
FCF margin
-15.9%

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for ZDAI from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Directbooking Technology Co., Ltd. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Directbooking Technology Co., Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 9.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.99 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$0.9 ~$0.9–$1.4 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$3.5 ~$2.3–$5.3 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$3.3 ~$2.9–$3.9 Included
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.4 ~$1.9–$15 Left out: far from the other models (more than 3x away from their median)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Directbooking Technology Co., Ltd. with Internet Services & Infrastructure in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20252026
Share price$7.46$3.53
Market value$23m$11m
+ Net debt (− = net cash)$494661$721820
Enterprise value$24m$12m
Multiples
Price / sales 1.2x1.3x
Price / earnings ——
Price / free cash flow ——
EV / EBITDA ——

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Directbooking Technology Co., Ltd.: too few analysts cover it.

Positioning

Short interest
0.3%
of tradable shares
Days to cover
2.57
at average volume
Short interest, 1 month
+22%
to October 15, 2026
Held by institutions
0%
of shares
Held by insiders
18.0%
of shares
Employees
26
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Return and risk by year

Calendar year 20252026 to date
Return
ZDAI−86%−63%
Industry peers (median)−10%−30%
S&P 500+18%+11%
Months that ended higher
ZDAI17%27%
S&P 50075%46%
Largest fall from a high during the year
ZDAI−86%−90%
S&P 500−19%−9%

Worst fall since July 23, 2024: 100% from November 26, 2024 to October 30, 2026. Getting back needed a 153271% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.12 – $11.20
From 52-week high
−89.2%
vs 50-day average
−18.2%
vs 200-day average
−59.8%
Volatility (1 year)
115%
Beta vs S&P 500
1.29

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Directbooking Technology Co., Ltd. in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Directbooking Technology Co., Ltd.
$5M $10M $15M $20M FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FY26 Q4 Revenue (TTM), FY22 Q4: $10.5M Revenue (TTM), FY23 Q4: $11.1M Revenue (TTM), FY24 Q4: $13.5M Revenue (TTM), FY25 Q4: $19.3M Revenue (TTM), FY26 Q4: $8.9M $8.9M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY22 Q4 $10.5M
FY23 Q4 $11.1M
FY24 Q4 $13.5M
FY25 Q4 $19.3M
FY26 Q4 $8.9M
Revenue growth, TTM YoY Directbooking Technology Co., Ltd.
-100% -50% 0% 50% FY23 Q4 FY24 Q4 FY25 Q4 FY26 Q4 Revenue growth, TTM YoY, FY23 Q4: 6.3% Revenue growth, TTM YoY, FY24 Q4: 20.8% Revenue growth, TTM YoY, FY25 Q4: 43.2% Revenue growth, TTM YoY, FY26 Q4: -53.6% -53.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 6.3%
FY24 Q4 20.8%
FY25 Q4 43.2%
FY26 Q4 -53.6%
Operating margin (TTM) Directbooking Technology Co., Ltd.
-200% -150% -100% -50% 0% 50% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FY26 Q4 Operating margin (TTM), FY22 Q4: 21.6% Operating margin (TTM), FY23 Q4: 8.9% Operating margin (TTM), FY24 Q4: 10.6% Operating margin (TTM), FY25 Q4: -37.2% Operating margin (TTM), FY26 Q4: -153.7% -153.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY22 Q4 21.6%
FY23 Q4 8.9%
FY24 Q4 10.6%
FY25 Q4 -37.2%
FY26 Q4 -153.7%
FCF margin (TTM) Directbooking Technology Co., Ltd.
-20% -10% 0% 10% 20% FY22 Q4 FY23 Q4 FY24 Q4 FY25 Q4 FY26 Q4 FCF margin (TTM), FY22 Q4: 13.5% FCF margin (TTM), FY23 Q4: 7.1% FCF margin (TTM), FY24 Q4: 16.6% FCF margin (TTM), FY25 Q4: -15.4% FCF margin (TTM), FY26 Q4: -15.9% -15.9%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY22 Q4 13.5%
FY23 Q4 7.1%
FY24 Q4 16.6%
FY25 Q4 -15.4%
FY26 Q4 -15.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

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

Fiscal year 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026
Income
Revenue 10 11 13 19 9
Gross profit 3 2 3 2 −2
EBITDA — 1 2 −7 −14
Operating income 2 1 1 −7 −14
Net income 2 1 1 −7 −13
Diluted EPS $0.72 $0.40 $0.39 −$2.26 −$4.13
Growth (year on year)
Revenue — +6.3% +20.8% +43.2% −53.6%
EBITDA — — +41.1% −541.7% —
Operating income — −56.3% +44.8% −600.4% —
Net income — −41.4% −6.5% −739.7% —
Diluted EPS — −44.4% −2.5% −679.5% —
Margins
Gross margin 28.2% 19.5% 20.6% 8.7% −21.5%
EBITDA margin — 10.1% 11.8% −36.4% −152.2%
Operating margin 21.6% 8.9% 10.6% −37.2% −153.7%
Net margin 19.0% 10.5% 8.1% −36.2% −148.8%
Free-cash-flow margin 13.5% 7.1% 17.8% −14.6% −14.5%
Cash flow
Cash from operations 2 1 2 −3 −1
Capital spending 1 0 0 0 0
Free cash flow 1 1 2 −3 −1
Balance sheet
Cash — 0 0 0 0
Total debt — 1 1 1 1
Net debt (negative = net cash) — 1 1 0 1
Diluted shares 3m 3m 3m 3m 3m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · March 31, 2026
What it owns · $19m
Short-term assets $17mLonger-term assets $2m
What it owes, and who funded it · $19m
Short-term liabilities $4mLonger-term liabilities $2mShareholders' equity $14m
  • Short-term assets cover short-term liabilities $17m of assets due within a year against $4m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $17m short-term assets against $2m of longer-dated liabilities.
  • More cash than debt $130,184 of cash against $852,004 of debt.
  • Debt below 40% of shareholders' equity Debt is 6% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$1m of operating cash flow against $852,004 of debt.
  • Operating profit covers interest at least five times over Operating income of −$14m against $183,361 of interest.

From Directbooking Technology Co., Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+108.6%
year over year

Competitors: side by side with peers

Closest by revenue in internet services & infrastructure
Last 12 months unless stated ZDAI PWCM DRK ONFO OPNW BTCT Median
Revenue, last 12 months $9m $9m $10m $8m $11m $14m $242m
Revenue growth, last 12 months −53.6% 16.3% −10.3% −22.6% −49.7% 20.3% 8.3%
Revenue growth, 3-year average — 8.8% −4.8% 25.3% −24.6% — 7.6%
Revenue growth, latest quarter — 9.8% −18.8% −52.4% −57.8% 338.2% 5.5%
Gross margin −21.5% — 18.2% 54.5% 47.0% −22.5% 49.5%
Operating margin −153.7% −324.9% −330.8% −40.1% −49.3% −62.7% −56.0%
Operating margin, 3-year average — −161.0% −215.7% −65.3% −25.3% — −25.3%
Net margin −148.8% −413.9% −332.5% −101.9% −47.1% −64.5% −55.8%
Cash from operations / revenue −14.5% −176.7% −156.6% −22.3% −6.3% −37.4% −10.4%
Free-cash-flow margin −15.9% −200.4% −221.2% −22.4% −6.3% −98.1% −25.9%
Free-cash-flow margin, 3-year average — −142.1% −149.9% — 0.5% −55.6% −17.4%
Stock pay / revenue — 7.5% 17.1% −0.3% 0.2% 13.0% 11.9%
Change in share count 108.6% 138.2% −96.9% — 13.0% 172.0% 5.2%

Median of all 34 companies we cover in internet services & infrastructure. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

34 internet services & infrastructure companies
Measure Company Peer median Rank
Revenue growth Growth -53.6% 10.1% 33 of 34
Change in growth rate Growth -96.8pp -0.6pp 32 of 34
Gross margin Profitability -21.5% 61.5% 16 of 16
Operating margin Profitability -153.7% -49.3% 23 of 33
Net margin Profitability -148.8% -47.1% 21 of 34
Free-cash-flow margin Cash generation -15.9% 16.2% 15 of 17
Long-term debt as % of assets Balance sheet 4.4% 20.2% 6 of 25
Change in share count Balance sheet 108.6% 5.2% 23 of 26

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

13F filings for June 30, 2026
Reported value
$5,076
Institutions reporting
2
Shares held vs prior quarter
▲ 158.7%
Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Tower Research Capital LLC (TRC) $4,875 3K 96.0% ▲ 150.0%
Sbi Securities Co., Ltd. $201 0K 4.0% ▲ 1616.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Directbooking Technology Co., Ltd.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Directbooking Technology Co., Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Directbooking Technology Co., Ltd. in brief

What does Directbooking Technology Co., Ltd. do?
Directbooking Technology Co., Ltd. is a US-listed company in the internet services & infrastructure industry. Its financial year ends in March.
What is Directbooking Technology Co., Ltd.'s stock ticker?
Directbooking Technology Co., Ltd. trades under the ticker ZDAI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Directbooking Technology Co., Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Directbooking Technology Co., Ltd. reported revenue of $8.9M, 53.6% lower than a year earlier, according to its SEC filings.
What is Directbooking Technology Co., Ltd.'s free cash flow?
Directbooking Technology Co., Ltd.'s free-cash-flow margin is -15.9% of revenue over the trailing twelve months, ranking 15 of the 17 internet services & infrastructure companies we cover.
What is Directbooking Technology Co., Ltd.'s market cap?
On March 31, 2026, Directbooking Technology Co., Ltd.'s market capitalisation was about $11.4M and net debt of $721,820. Market figures come from third-party market data and may be delayed.
How much debt does Directbooking Technology Co., Ltd. have?
Directbooking Technology Co., Ltd.'s debt-to-equity ratio is 6.3%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Directbooking Technology Co., Ltd.'s competitors?
In our Internet Services & Infrastructure peer group, the companies closest to Directbooking Technology Co., Ltd. are Powercompute, Inc., Darkhorse Technologies Inc., Onfolio Holdings, Inc, Openworld, Inc. and BTC Digital Ltd. The side-by-side comparison below sets their revenue, margins and growth against Directbooking Technology Co., Ltd.'s.