CBAK Energy Technology, Inc. (CBAT) Income Statement
CBAT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCBAT revenue and net income
Where CBAT's revenue goes
2025Each bar shows an amount and its share of revenue. CBAT kept −4.8% of revenue as net income.
CBAT profit margins
CBAT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.5% | −7.8% | +39.0% | +30.2% |
| Gross profit | −55.9% | +0.6% | +46.7% | +34.5% |
| Operating income | −312.2% | — | — | — |
| Net income | −179.5% | — | — | — |
| EPS (diluted) | −176.9% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CBAT quarterly EPS vs estimates
CBAK Energy Technology beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 9, 2026 (estimate $-0.06).
CBAT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $195.2M | $176.6M | $204.4M | $248.7M | $52.7M | $37.6M | $22.2M | $24.4M | $58.4M | $8.4M |
| Cost of revenue | $176.8M | $134.8M | $172.7M | $230.6M | $47.6M | $34.9M | $21.6M | $27.7M | $68.6M | $10.4M |
| Gross profit | $18.4M | $41.8M | $31.7M | $18.1M | $5.1M | $2.7M | $622,526 | −$3.3M | −$10.2M | −$2.0M |
| Research & development | $15.8M | $13.0M | $11.9M | $10.6M | $5.3M | $1.7M | $1.9M | $2.5M | $1.7M | $1.6M |
| Sales, general & admin | $21.3M | $19.1M | $18.7M | $11.7M | $10.0M | $4.4M | $5.4M | $6.6M | $7.5M | $8.6M |
| Total operating expenses | $37.1M | $33.0M | $39.0M | $29.6M | $16.8M | $11.2M | $10.7M | $9.2M | $10.0M | $10.2M |
| Operating income | −$18.7M | $8.8M | −$7.3M | −$11.5M | −$11.7M | −$8.5M | −$10.1M | −$13.4M | −$20.2M | −$12.3M |
| Interest income | — | — | — | $491,060 | $784,880 | — | $1.4M | $834,390 | $245,020 | $9,000 |
| Interest expense | $673,344 | — | $870,670 | $784.9M | $784.9M | $1.4M | $1.4M | $834,391 | $245,015 | $134,674 |
| Income before taxes | −$11.1M | $11.1M | −$6.1M | −$12.6M | $53.8M | −$7.8M | −$10.9M | −$2.0M | −$21.5M | −$12.1M |
| Income taxes | −$184,686 | $1.6M | $2.5M | −$1.2M | −$7.7M | −$1.3M | $1.9M | −$14,305 | −$1.0M | $600,513 |
| Net income | −$9.4M | $11.8M | −$2.4M | −$9.4M | $61.5M | −$7.8M | −$10.8M | −$1.9M | −$21.5M | −$12.7M |
| EBITDA | −$560,824 | $18.8M | $11.4M | $4.3M | −$8.4M | −$3.7M | −$6.7M | $1.3M | −$19.6M | −$11.2M |
| EPS (diluted) | −$0.10 | $0.13 | $0.16 | −$0.11 | $0.70 | −$0.18 | −$0.29 | −$0.08 | −$0.87 | −$0.71 |
| Gross margin | 9.4% | 23.7% | 15.5% | 7.3% | 9.7% | 7.2% | 2.8% | −13.5% | −17.5% | −24.4% |
| Operating margin | −9.6% | 5.0% | −3.5% | −4.6% | −22.2% | −22.6% | −45.5% | −55.0% | −34.6% | −146.4% |
| Net margin | −4.8% | 6.7% | −1.2% | −3.8% | 116.7% | −20.8% | −48.5% | −8.0% | −36.8% | −151.9% |
| Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $69.6M | $58.8M | $60.9M | $40.5M | $34.9M | $25.4M | $44.6M | $47.8M | $58.8M | $56.2M | $63.4M | $42.4M |
| Cost of revenue | $68.6M | $54.5M | $56.0M | $36.1M | $30.1M | $22.1M | $37.7M | $35.1M | $40.0M | $43.5M | $51.2M | $38.5M |
| Gross profit | $1.0M | $4.3M | $4.9M | $4.5M | $4.8M | $3.3M | $7.0M | $12.7M | $18.8M | $12.7M | $12.2M | $3.9M |
| Research & development | $4.2M | $5.3M | $3.9M | $3.61B | $3.0M | $3.8M | $3.4M | $3.0M | $2.8M | $3.9M | $2.6M | $3.0M |
| Sales, general & admin | $6.5M | $7.1M | $5.2M | $3.35B | $4.7M | $5.0M | $3.8M | $3.1M | $5.8M | $6.6M | $4.4M | $4.5M |
| Total operating expenses | $10.7M | $12.5M | $8.9M | $8.0M | $7.7M | $9.9M | $7.8M | $6.8M | $8.5M | $11.5M | $7.0M | $7.7M |
| Operating income | −$9.7M | −$8.2M | −$4.0M | −$3.5M | −$2.9M | −$6.6M | −$827,873 | $5.9M | $10.3M | $1.2M | $5.3M | −$3.8M |
| Interest income | — | — | — | — | — | — | — | $688,721 | — | — | — | $252,472 |
| Interest expense | $416,095 | $335,393 | $219,768 | $163,303 | — | — | $40,350 | — | $252.0M | $252.0M | $447,031 | $252.5M |
| Income before taxes | −$9.0M | −$7.6M | $1.9M | −$3.4M | −$2.1M | −$6.0M | −$346,252 | $6.8M | $10.6M | −$5.7M | $5.5M | −$3.2M |
| Income taxes | $7,426 | −$833 | −$183,853 | −$287.4M | −$630,187 | −$630,187 | $339,287 | $800,727 | $1.0M | $3.5M | −$305,431 | −$307,311 |
| Net income | −$9.3M | −$7.4M | $2.7M | −$3.1M | −$1.6M | −$4.5M | $17,647 | $6.4M | $9.8M | −$4.8M | $6.3M | −$2.6M |
| EBITDA | −$4.8M | −$3.3M | $3.4M | −$847,379 | −$505,831 | −$3.4M | $1.9M | $7.6M | $12.7M | $5.2M | $8.0M | −$1.1M |
| EPS (diluted) | −$0.10 | −$0.08 | $0.03 | −$0.03 | −$0.02 | −$0.05 | $0.00 | $0.07 | $0.11 | −$0.01 | $0.07 | −$0.02 |
| Gross margin | 1.5% | 7.3% | 8.0% | 11.0% | 13.7% | 13.1% | 15.6% | 26.6% | 31.9% | 22.6% | 19.3% | 9.2% |
| Operating margin | −13.9% | −14.0% | −6.6% | −8.7% | −8.2% | −26.0% | −1.9% | 12.4% | 17.4% | 2.1% | 8.3% | −8.9% |
| Net margin | −13.3% | −12.5% | 4.4% | −7.6% | −4.5% | −17.8% | 0.0% | 13.5% | 16.7% | −8.5% | 10.0% | −6.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CBAT's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CBAT financial results
In fiscal year 2025 (ended December 31, 2025), CBAK Energy Technology reported revenue of $195.2 million, up 10.5% from the year before. It had a net loss of $9.4 million, a net profit margin of −4.8%. Diluted earnings per share came to −$0.10. Over five years revenue grew at an average rate of 39.0% a year.
See the CBAT stock overview for the latest quote and news, or the CBAT chart for price history and technical indicators.
CBAT income statement FAQ
What is CBAK Energy Technology's annual revenue?
CBAK Energy Technology reported total revenue of $195.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 10.5% from $176.6 million the previous year.
Is CBAK Energy Technology profitable?
No. CBAK Energy Technology reported a net loss of $9.4 million in fiscal 2025, a net profit margin of −4.8%; its operating margin was −9.6%.
What is CBAK Energy Technology's gross margin?
CBAK Energy Technology's gross margin was 9.4% in fiscal 2025: for every $100 of revenue, CBAK Energy Technology kept $9 after the direct cost of its products and services.
How much does CBAK Energy Technology spend on research and development?
CBAK Energy Technology spent $15.8 million on research and development in fiscal 2025, 8.1% of revenue.
How fast is CBAK Energy Technology growing?
Revenue grew 39.0% a year on average over the last five fiscal years, from $37.6 million to $195.2 million.
What are CBAK Energy Technology's earnings per share?
CBAK Energy Technology earned $-0.10 per diluted share in fiscal 2025, compared with $0.13 a year earlier.
When will CBAK Energy Technology report its next earnings?
CBAK Energy Technology is expected to report results for the quarter ending September 30, 2026 on November 9, 2026.
When does CBAK Energy Technology's fiscal year end?
CBAK Energy Technology's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.