Metalpha Technology Holding Ltd (MATH) Income Statement
MATH FY2026 at a glance
Fiscal year ended March 31, 2026 · U.S. dollarsMATH revenue and net income
Where MATH's revenue goes
FY2026Each bar shows an amount and its share of revenue. MATH kept 3.5% of revenue as net income.
MATH profit margins
MATH growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −16.7% | +86.9% | +177.5% | +36.4% |
| Gross profit | −203.3% | — | — | — |
| Operating income | −305.2% | — | — | — |
| Net income | −91.9% | — | — | +7.0% |
| EPS (diluted) | −92.3% | — | — | −6.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MATH quarterly EPS vs estimates
Metalpha Technology beat the analyst EPS estimate in 0 of the last 2 quarters. Next report: November 5, 2026.
MATH income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.1M | $44.6M | $16.8M | $5.7M | $122,711 | $225,749 | $11,252 | $2.8M | $4.3M | $3.6M |
| Cost of revenue | $22.0M | $23.3M | $11.1M | $3.7M | $334,822 | $438,259 | $576,995 | $1.3M | $1.7M | $310,680 |
| Gross profit | −$22.0M | $21.3M | $5.6M | $2.0M | $46,926 | −$213,000 | $11,252 | $1.5M | $2.6M | $3.3M |
| Sales, general & admin | $13.8M | $3.7M | $4.2M | $2.8M | $3.1M | $656,000 | $1.1M | $3.6M | $2.2M | $1.1M |
| Total operating expenses | $13.8M | $3.9M | $4.3M | $3.6M | $3.3M | $201,536 | $2.1M | $3.7M | $2.2M | $1.3M |
| Operating income | −$35.8M | $17.4M | $1.3M | −$1.6M | −$3.2M | −$3.9M | −$2.1M | −$2.2M | $384,041 | $2.0M |
| Interest income | $63,923 | $24,000 | $33,959 | $25,280 | $208,326 | $413,691 | $667,898 | $636,489 | — | — |
| Interest expense | $17,777 | $75,253 | $4,241 | $8,464 | $1.9M | $1.6M | $2,625 | $133 | $312,855 | $69,161 |
| Income before taxes | $1.6M | $15.9M | −$3.7M | −$11.7M | −$11.2M | −$2.3M | −$1.5M | −$1.5M | $758,918 | $2.2M |
| Income taxes | $289,094 | — | −$5.0M | $218,035 | $8,061 | $1.5M | $27,413 | −$265,000 | $633,614 | $464,327 |
| Net income | $1.3M | $15.9M | −$3.7M | −$20.6M | −$14.4M | −$5.1M | −$1.4M | −$1.1M | $193,131 | $1.7M |
| EBITDA | −$35.5M | $16.1M | −$3.6M | −$11.6M | −$9.1M | −$622,491 | −$1.4M | −$1.4M | $779,090 | $2.2M |
| EPS (diluted) | $0.03 | $0.39 | −$0.10 | −$0.63 | −$0.59 | −$0.29 | −$0.12 | −$0.09 | $0.02 | $0.15 |
| Gross margin | −59.2% | 47.8% | 33.6% | 35.5% | 38.2% | −94.4% | 100.0% | 54.2% | 60.5% | 91.4% |
| Operating margin | −96.4% | 39.1% | 7.9% | −27.3% | −2,648.5% | −1,740.0% | −18,832.2% | −81.1% | 9.0% | 56.1% |
| Net margin | 3.5% | 35.7% | −21.9% | −361.2% | −11,767.5% | −2,280.0% | −12,611.1% | −38.3% | 4.5% | 47.7% |
| Jun '26 | Sep '25 | Mar '25 | Sep '24 | Mar '24 | Sep '23 | Mar '23 | Sep '22 | Jun '22 | Sep '21 | Jun '21 | Mar '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $432,263 | $0 | $1.2M | $0 | $177,298 |
| Cost of revenue | $13.3M | $8.7M | $13.4M | $10.0M | $9.0M | $2.2M | $3.5M | $383,350 | $334,822 | $314,441 | $509,097 | $0 |
| Gross profit | −$13.3M | −$8.7M | −$13.4M | −$10.0M | −$9.0M | −$2.2M | −$3.9M | $48,913 | −$908,226 | $1.2M | −$509,097 | $177,298 |
| Sales, general & admin | — | — | — | — | — | — | — | — | $4.5M | — | $3.8M | — |
| Total operating expenses | $7.6M | $6.2M | $1.7M | $2.0M | $1.4M | $2.8M | — | $4.2M | $4.5M | $6.7M | $409,501 | $2.6M |
| Operating income | −$20.9M | −$14.9M | $29.5M | −$12.0M | −$10.4M | −$5.0M | −$3.9M | −$4.2M | −$5.5M | −$5.5M | −$918,598 | −$2.5M |
| Interest expense | $10,340 | $7,437 | $4,671 | $70,582 | $1,581 | $2,660 | $937 | $7,527 | $698,918 | $1.9M | $2.3M | $1.6M |
| Income before taxes | $4.5M | −$2.9M | $9.5M | $6.4M | −$55,679 | −$3.6M | −$7.0M | −$4.7M | −$12.2M | −$7.4M | $2.2M | −$4.0M |
| Income taxes | $289,094 | — | −$315,503 | $315,503 | −$233,000 | $233,225 | $18,138 | $199,897 | −$27,900 | −$8,230 | −$27,900 | −$50,007 |
| Net income | $4.2M | −$2.9M | $9.8M | $6.0M | $177,546 | −$3.9M | −$16.7M | −$5.4M | −$12.3M | −$7.4M | $2.1M | −$3.9M |
| EBITDA | −$20.7M | −$14.8M | $9.6M | $6.5M | −$9,192 | −$3.6M | −$7.8M | −$4.5M | −$13.1M | −$5.4M | −$307,532 | −$2.3M |
| EPS (diluted) | — | — | — | — | — | — | — | — | −$0.30 | — | −$0.33 | — |
| Gross margin | — | — | — | — | — | — | — | 11.3% | — | 100.0% | — | 100.0% |
| Operating margin | — | — | — | — | — | — | — | −971.2% | — | −448.7% | — | −1,396.0% |
| Net margin | — | — | — | — | — | — | — | −1,243.9% | — | −597.5% | — | −2,208.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MATH's financial statements (latest annual report filed August 6, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MATH financial results
In fiscal year 2026 (ended March 31, 2026), Metalpha Technology reported revenue of $37.1 million, down 16.7% from the year before. It had net income of $1.3 million (down 91.9%), a net profit margin of 3.5%. Diluted earnings per share came to $0.03. Over five years revenue grew at an average rate of 177.5% a year.
See the MATH stock overview for the latest quote and news, or the MATH chart for price history and technical indicators.
MATH income statement FAQ
What is Metalpha Technology's annual revenue?
Metalpha Technology reported total revenue of $37.1 million for fiscal year 2026, which ended on March 31, 2026. That was down 16.7% from $44.6 million the previous year.
Is Metalpha Technology profitable?
Yes. Metalpha Technology reported net income of $1.3 million in fiscal 2026, a net profit margin of 3.5%; its operating margin was −96.4%.
What is Metalpha Technology's gross margin?
Metalpha Technology's gross margin was −59.2% in fiscal 2026: for every $100 of revenue, Metalpha Technology kept $-59 after the direct cost of its products and services.
How fast is Metalpha Technology growing?
Revenue grew 177.5% a year on average over the last five fiscal years, from $0.2 million to $37.1 million.
What are Metalpha Technology's earnings per share?
Metalpha Technology earned $0.03 per diluted share in fiscal 2026, compared with $0.39 a year earlier.
When will Metalpha Technology report its next earnings?
Metalpha Technology is expected to report results for the quarter ending September 30, 2026 on November 5, 2026.
When does Metalpha Technology's fiscal year end?
Metalpha Technology's fiscal year ends in March. The latest annual report covers the year ended March 31, 2026 and was filed on August 6, 2026.