Nano Labs Ltd (NA) Income Statement
NA 2025 at a glance
Fiscal year ended December 31, 2025 · Chinese yuanNA revenue and net income
Where NA's revenue goes
2025Each bar shows an amount and its share of revenue. NA kept 501.6% of revenue as net income.
NA profit margins
NA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −33.5% | −69.8% | +66.2% | — |
| Gross profit | −443.0% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | +63.3% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NA income statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | CN¥27.0M | CN¥40.6M | CN¥78.3M | CN¥983.2M | CN¥39.4M | CN¥2.1M |
| Cost of revenue | CN¥66.8M | CN¥29.0M | CN¥181.8M | CN¥753.0M | CN¥43.5M | CN¥1.3M |
| Gross profit | −CN¥39.8M | CN¥11.6M | −CN¥103.4M | CN¥230.2M | −CN¥4.1M | CN¥856,132 |
| Research & development | CN¥7.8M | CN¥50.1M | CN¥88.6M | CN¥131.9M | CN¥145.5M | CN¥34.5M |
| Sales, general & admin | CN¥59.3M | CN¥60.0M | CN¥68.7M | CN¥77.6M | CN¥29.2M | CN¥3.3M |
| Total operating expenses | CN¥67.4M | CN¥110.1M | CN¥157.3M | CN¥209.5M | CN¥174.7M | CN¥37.8M |
| Operating income | −CN¥107.2M | −CN¥98.5M | −CN¥260.8M | CN¥20.7M | −CN¥178.8M | −CN¥36.9M |
| Interest income | CN¥46,804 | CN¥504,348 | CN¥489,098 | CN¥3.9M | CN¥3.5M | CN¥17,915 |
| Interest expense | CN¥17.1M | CN¥6.9M | CN¥920,055 | CN¥6.4M | CN¥509,764 | CN¥3,747 |
| Income before taxes | CN¥125.9M | −CN¥119.5M | −CN¥254.4M | CN¥31.1M | −CN¥174.9M | −CN¥37.7M |
| Income taxes | — | — | −CN¥17,394 | −CN¥16.8M | CN¥1.4M | CN¥2,293 |
| Net income | CN¥135.5M | −CN¥113.2M | −CN¥252.8M | CN¥31.1M | −CN¥174.9M | −CN¥37.7M |
| EBITDA | −CN¥92.1M | −CN¥101.0M | −CN¥243.3M | CN¥214.2M | −CN¥168.9M | −CN¥37.1M |
| Gross margin | −147.3% | 28.6% | −132.1% | 23.4% | −10.4% | 40.3% |
| Operating margin | −396.8% | −242.7% | −332.9% | 2.1% | −453.3% | −1,735.9% |
| Net margin | 501.6% | −278.8% | −322.7% | 3.2% | −443.6% | −1,772.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Sep '24 | Jun '24 | Mar '24 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.4M | CN¥1.4M | CN¥27.01B | CN¥9.4M | CN¥4.1M | CN¥4.1M | CN¥7.9M | CN¥12.4M | CN¥12.4M | CN¥13.0M | CN¥26.1M | CN¥26.1M |
| Cost of revenue | CN¥4.3M | CN¥4.3M | CN¥66.80B | CN¥7.6M | CN¥9.5M | CN¥9.5M | CN¥3.3M | CN¥12.4M | CN¥12.4M | CN¥2.9M | CN¥57.6M | CN¥57.6M |
| Gross profit | −CN¥2.9M | −CN¥2.9M | −CN¥39.79B | CN¥1.8M | −CN¥5.4M | −CN¥5.4M | CN¥11.2M | CN¥15,031 | CN¥15,031 | CN¥10.1M | −CN¥31.4M | −CN¥31.4M |
| Research & development | CN¥2.2M | CN¥2.2M | CN¥8.06B | CN¥2.4M | CN¥1.6M | CN¥1.6M | CN¥10.6M | CN¥14.5M | CN¥14.5M | CN¥27.8M | CN¥16.5M | CN¥16.5M |
| Sales, general & admin | CN¥15.5M | CN¥15.5M | CN¥54.61B | CN¥16.5M | CN¥12.1M | CN¥12.1M | CN¥12.7M | CN¥14.9M | CN¥14.9M | CN¥14.1M | CN¥15.5M | CN¥15.5M |
| Total operating expenses | CN¥142.9M | CN¥142.9M | −CN¥111.18B | −CN¥52.9M | CN¥13.7M | CN¥13.7M | CN¥24.5M | CN¥29.4M | CN¥29.4M | CN¥70.6M | CN¥35.1M | CN¥35.1M |
| Operating income | −CN¥145.8M | −CN¥145.8M | CN¥71.39B | CN¥54.7M | −CN¥19.0M | −CN¥19.0M | −CN¥19.9M | −CN¥29.3M | −CN¥29.3M | −CN¥31.8M | −CN¥68.2M | −CN¥68.2M |
| Interest expense | — | — | CN¥16.94B | CN¥5.7M | CN¥2.8M | CN¥2.8M | CN¥3.2M | CN¥652,551 | CN¥652,552 | — | CN¥937 | CN¥1.4M |
| Income before taxes | −CN¥158.4M | −CN¥158.4M | CN¥125.95B | CN¥68.9M | −CN¥5.9M | −CN¥5.9M | −CN¥30.2M | −CN¥29.6M | −CN¥29.6M | −CN¥60.0M | −CN¥67.2M | −CN¥67.2M |
| Income taxes | — | — | — | — | — | — | — | −CN¥955,965 | −CN¥8,697 | −CN¥8,697 | CN¥573 | −CN¥5.5M |
| Net income | −CN¥154.8M | −CN¥154.8M | CN¥135.47B | CN¥71.3M | −CN¥3.5M | −CN¥3.5M | −CN¥28.0M | −CN¥28.6M | −CN¥28.6M | −CN¥60.0M | −CN¥67.2M | −CN¥67.2M |
| EBITDA | −CN¥17.4M | −CN¥9.7M | CN¥155.05B | −CN¥15.3M | −CN¥15.9M | −CN¥15.9M | −CN¥11.4M | −CN¥26.6M | −CN¥26.6M | −CN¥29.9M | −CN¥65.0M | −CN¥65.0M |
| Gross margin | −210.4% | −210.4% | −147.3% | 19.0% | −129.3% | −129.3% | 141.8% | 0.1% | 0.1% | 77.6% | −120.3% | −120.3% |
| Operating margin | −10,498.7% | −10,498.7% | 264.4% | 584.4% | −459.2% | −459.2% | −251.1% | −237.2% | −237.2% | −244.1% | −260.9% | −260.9% |
| Net margin | −11,139.7% | −11,139.7% | 501.6% | 761.2% | −85.2% | −85.2% | −352.9% | −231.3% | −231.3% | −460.5% | −257.0% | −257.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in NA's financial statements (latest annual report filed April 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NA financial results
In fiscal year 2025 (ended December 31, 2025), Nano Labs reported revenue of CN¥27.0 million, down 33.5% from the year before. It had net income of CN¥135.5 million, a net profit margin of 501.6%. Over five years revenue grew at an average rate of 66.2% a year. Figures are in Chinese yuan, the currency of its financial statements.
See the NA stock overview for the latest quote and news, or the NA chart for price history and technical indicators.
NA income statement FAQ
What is Nano Labs's annual revenue?
Nano Labs reported total revenue of CN¥27.0 million for fiscal year 2025, which ended on December 31, 2025. That was down 33.5% from CN¥40.6 million the previous year.
Is Nano Labs profitable?
Yes. Nano Labs reported net income of CN¥135.5 million in fiscal 2025, a net profit margin of 501.6%; its operating margin was −396.8%.
What is Nano Labs's gross margin?
Nano Labs's gross margin was −147.3% in fiscal 2025: for every $100 of revenue, Nano Labs kept $-147 after the direct cost of its products and services.
How much does Nano Labs spend on research and development?
Nano Labs spent CN¥7.8 million on research and development in fiscal 2025, 29.0% of revenue.
How fast is Nano Labs growing?
Revenue grew 66.2% a year on average over the last five fiscal years, from CN¥2.1 million to CN¥27.0 million.
When does Nano Labs's fiscal year end?
Nano Labs's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 13, 2026.