IT Tech Packaging, Inc. (ITP) Income Statement
ITP 2024 at a glance
Fiscal year ended December 31, 2024 · U.S. dollarsITP revenue and net income
Where ITP's revenue goes
2024Each bar shows an amount and its share of revenue. ITP kept −13.0% of revenue as net income.
ITP profit margins
ITP growth rates
to 2024| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −12.4% | −22.2% | −8.4% | −5.7% |
| Gross profit | +569.3% | −15.3% | −13.3% | −11.5% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ITP quarterly EPS vs estimates
IT Tech Packaging beat the analyst EPS estimate in 0 of the last 1 quarters.
ITP income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.8M | $86.5M | $100.4M | $160.9M | $100.9M | $117.6M | $86.7M | $117.0M | $134.7M | $135.3M |
| Cost of revenue | $69.1M | $85.5M | $95.6M | $149.9M | $95.2M | $103.9M | $80.9M | $97.1M | $109.2M | $107.4M |
| Gross profit | $6.7M | $999,885 | $4.8M | $11.0M | $5.7M | $13.7M | $5.8M | $20.0M | $25.5M | $27.9M |
| Research & development | $99,610 | $90,766 | $145,538 | $101,410 | $69,208 | $74,825 | $30,194 | $31,922 | $21,598 | $28,448 |
| Sales, general & admin | $14.8M | $7.7M | $10.1M | $9.6M | $11.2M | $9.8M | $13.1M | $11.3M | $12.4M | $9.7M |
| Total operating expenses | $14.9M | $10.6M | $10.1M | $9.6M | $11.2M | $9.8M | $12.9M | $11.3M | $12.4M | $9.1M |
| Operating income | −$8.2M | −$9.6M | −$5.3M | $1.5M | −$5.5M | $3.9M | −$11.2M | $4.7M | $13.0M | $18.2M |
| Interest income | $14,793 | $291,359 | $413,570 | $38,766 | $32,033 | $64,717 | $36,632 | $34,590 | $96,976 | $3.1M |
| Interest expense | $762,377 | $984,518 | $1.0M | $1.1M | $1.0M | $926,368 | $1.5M | $2.4M | $2.6M | $3.2M |
| Income before taxes | −$9.0M | −$9.6M | −$4.9M | $6.5M | −$6.7M | $3.3M | −$12.4M | $2.3M | $10.4M | $15.7M |
| Income taxes | $879,194 | $346,954 | $11.7M | $5.5M | −$1.1M | $1.1M | −$1.9M | $662,828 | $3.1M | $4.1M |
| Net income | −$9.8M | −$9.9M | −$16.6M | $905,535 | −$5.6M | $2.2M | −$10.5M | $1.7M | $7.3M | $11.5M |
| EBITDA | $6.1M | $6.2M | $11.0M | $22.9M | $10.2M | $19.5M | $3.4M | $19.4M | $28.3M | $32.2M |
| EPS (diluted) | −$0.98 | −$0.99 | −$1.27 | −$0.03 | −$0.23 | $0.11 | −$0.37 | $0.03 | $0.48 | $0.40 |
| Gross margin | 8.8% | 1.2% | 4.7% | 6.8% | 5.6% | 11.6% | 6.7% | 17.1% | 18.9% | 20.6% |
| Operating margin | −10.8% | −11.1% | −5.3% | 0.9% | −5.4% | 3.3% | −12.9% | 4.0% | 9.6% | 13.4% |
| Net margin | −13.0% | −11.5% | −16.5% | 0.6% | −5.5% | 1.9% | −12.2% | 1.4% | 5.4% | 8.5% |
| Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.6M | $24.8M | $10.9M | $17.6M | $25.1M | $26.2M | $6.9M | $21.0M | $15.8M | $30.0M | $19.8M | $21.4M |
| Cost of revenue | $23.6M | $23.5M | $10.8M | $16.5M | $23.2M | $23.0M | $6.5M | $20.7M | $15.9M | $28.8M | $20.1M | $20.3M |
| Gross profit | $2.0M | $1.3M | $84,086 | $1.1M | $1.9M | $3.3M | $399,113 | $250,249 | −$153,223 | $1.2M | −$276,999 | $1.0M |
| Research & development | — | — | — | $99,610 | — | — | — | $90,766 | — | — | — | $145,538 |
| Sales, general & admin | $3.0M | $3.0M | $3.5M | $4.8M | $3.4M | $2.7M | $3.9M | $2.9M | $2.3M | $1.3M | $2.5M | $1.5M |
| Total operating expenses | $3.0M | $3.0M | $3.5M | $4.9M | $3.4M | $2.7M | $3.9M | $4.1M | $2.3M | $1.7M | $2.5M | $1.5M |
| Operating income | −$992,632 | −$1.8M | −$3.4M | −$3.8M | −$1.5M | $547,752 | −$3.5M | −$3.8M | −$2.5M | −$518,683 | −$2.8M | −$491,373 |
| Interest income | $1,146 | $1,208 | $1,744 | $2,490 | $7,313 | $2,807 | $2,183 | $31,893 | $93,298 | $53,637 | $136,268 | $454,790 |
| Interest expense | $150,702 | $143,971 | $132,847 | $169,106 | $171,430 | $211,551 | $210,290 | $216,850 | $247,818 | $270,681 | $249,169 | $241,354 |
| Income before taxes | −$1.1M | −$1.9M | −$3.5M | −$4.0M | −$1.6M | $339,023 | −$3.7M | −$4.0M | −$2.0M | −$902,233 | −$2.7M | −$35,993 |
| Income taxes | $306,362 | $46,828 | — | $79,921 | $345,710 | $416,770 | $36,793 | −$1,070 | −$3,236 | $351,260 | $209,973 | $11.9M |
| Net income | −$1.4M | −$2.0M | −$3.5M | −$4.0M | −$2.0M | −$77,747 | −$3.7M | −$4.0M | −$2.0M | −$1.3M | −$2.7M | −$11.9M |
| EBITDA | $2.6M | $1.8M | $176,460 | $184,711 | $2.0M | $3.9M | −$17,665 | $980,989 | $935,262 | $3.3M | $1.2M | $3.8M |
| EPS (diluted) | −$0.11 | −$0.16 | −$0.40 | — | −$0.20 | −$0.01 | −$0.37 | −$0.40 | −$0.20 | −$0.12 | −$0.27 | −$1.18 |
| Gross margin | 7.9% | 5.1% | 0.8% | 6.3% | 7.6% | 12.4% | 5.8% | 1.2% | −1.0% | 3.9% | −1.4% | 4.8% |
| Operating margin | −3.9% | −7.1% | −31.0% | −21.5% | −5.8% | 2.1% | −51.0% | −18.1% | −15.8% | −1.7% | −14.0% | −2.3% |
| Net margin | −5.7% | −7.9% | −32.2% | −22.9% | −7.9% | −0.3% | −54.6% | −19.0% | −12.5% | −4.2% | −13.8% | −55.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ITP's financial statements (latest annual report filed December 31, 2024); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ITP financial results
In fiscal year 2024 (ended December 31, 2024), IT Tech Packaging reported revenue of $75.8 million, down 12.4% from the year before. It had a net loss of $9.8 million, a net profit margin of −13.0%. Diluted earnings per share came to −$0.98. Over five years revenue grew at an average rate of −8.4% a year.
See the ITP stock overview for the latest quote and news, or the ITP chart for price history and technical indicators.
ITP income statement FAQ
What is IT Tech Packaging's annual revenue?
IT Tech Packaging reported total revenue of $75.8 million for fiscal year 2024, which ended on December 31, 2024. That was down 12.4% from $86.5 million the previous year.
Is IT Tech Packaging profitable?
No. IT Tech Packaging reported a net loss of $9.8 million in fiscal 2024, a net profit margin of −13.0%; its operating margin was −10.8%.
What is IT Tech Packaging's gross margin?
IT Tech Packaging's gross margin was 8.8% in fiscal 2024: for every $100 of revenue, IT Tech Packaging kept $9 after the direct cost of its products and services.
How much does IT Tech Packaging spend on research and development?
IT Tech Packaging spent $0.1 million on research and development in fiscal 2024, 0.1% of revenue.
How fast is IT Tech Packaging growing?
Revenue grew −8.4% a year on average over the last five fiscal years, from $117.6 million to $75.8 million.
What are IT Tech Packaging's earnings per share?
IT Tech Packaging earned $-0.98 per diluted share in fiscal 2024, compared with $-0.99 a year earlier.
When does IT Tech Packaging's fiscal year end?
IT Tech Packaging's fiscal year ends in December. The latest annual report covers the year ended December 31, 2024 and was filed on December 31, 2024.