Tantech Holdings Ltd (TANH) Income Statement
TANH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTANH revenue and net income
Where TANH's revenue goes
2025Each bar shows an amount and its share of revenue. TANH kept −80.9% of revenue as net income.
TANH profit margins
TANH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −10.7% | −10.5% | −1.9% | −4.2% |
| Gross profit | −20.1% | −10.9% | +9.8% | −8.2% |
| Operating income | −406.3% | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | −148.8% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TANH quarterly EPS vs estimates
Tantech beat the analyst EPS estimate in 3 of the last 5 quarters.
TANH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $38.4M | $42.9M | $47.3M | $53.5M | $55.3M | $42.3M | $49.2M | $29.6M | $43.1M | $47.7M |
| Cost of revenue | $31.2M | $34.0M | $37.1M | $43.4M | $44.8M | $37.8M | $43.3M | $21.5M | $32.4M | $34.1M |
| Gross profit | $7.1M | $8.9M | $10.2M | $10.1M | $10.4M | $4.5M | $6.0M | $8.0M | $10.7M | $13.5M |
| Research & development | $78,570 | $38,800 | $471,194 | $227,829 | $8.1M | $890,316 | $327,260 | $386,628 | $627,577 | $479,353 |
| Sales, general & admin | $19.3M | $4.9M | $7.9M | $5.0M | $10.9M | $1.9M | $5.0M | $5.3M | $5.4M | $6.8M |
| Total operating expenses | $19.3M | $5.0M | $8.3M | $4.2M | $18.9M | $2.8M | $5.3M | $5.7M | $6.1M | $7.2M |
| Operating income | −$12.2M | $4.0M | $1.8M | $5.9M | −$8.5M | −$10.3M | $731,641 | $2.4M | $4.6M | $6.3M |
| Interest income | $700,659 | $1.9M | $2.2M | $1.6M | $117,735 | $50,732 | $53,060 | $56,894 | $18,750 | $678 |
| Interest expense | $279,564 | $290,366 | $421,085 | $602,037 | $740,400 | $300,125 | $443,262 | $626,343 | $551,545 | $470,656 |
| Income before taxes | −$33.5M | $624,296 | $7.4M | $7.2M | −$8.3M | −$10.6M | −$9.3M | $2.0M | $4.5M | $6.0M |
| Income taxes | −$2.5M | $3.1M | $2.4M | $3.1M | $2.4M | −$611,655 | $363,662 | $1.0M | $1.5M | $1.4M |
| Net income | −$31.0M | −$3.2M | $5.6M | $3.0M | −$10.7M | −$6.5M | −$9.7M | $2.0M | $3.8M | $4.3M |
| EBITDA | −$33.1M | $2.5M | $8.3M | $7.0M | −$7.1M | −$9.5M | −$7.9M | $3.4M | $5.8M | $9.3M |
| EPS (diluted) | −$4.99 | $10.23 | $58.83 | $2.48 | −$16.71 | −$0.44 | $0.00 | $0.26 | $0.04 | $0.45 |
| Gross margin | 18.6% | 20.8% | 21.5% | 18.9% | 18.9% | 10.6% | 12.1% | 27.2% | 24.8% | 28.4% |
| Operating margin | −31.8% | 9.3% | 3.9% | 11.1% | −15.4% | −24.5% | 1.5% | 8.0% | 10.7% | 13.2% |
| Net margin | −80.9% | −7.5% | 11.8% | 5.6% | −19.3% | −15.4% | −19.6% | 6.7% | 8.7% | 9.0% |
| Mar '26 | Sep '25 | Mar '25 | Dec '24 | Mar '24 | Sep '23 | Mar '23 | Sep '22 | Jun '22 | Sep '21 | Mar '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.8M | $20.5M | $21.4M | $21.5M | $27.6M | $19.7M | $26.5M | $27.0M | $55.19B | $20.6M | $42.21B |
| Cost of revenue | $14.9M | $16.3M | $17.3M | $16.7M | $21.5M | $15.7M | $21.5M | $21.9M | $63.1M | $16.7M | $37.74B |
| Gross profit | $2.9M | $4.2M | $4.1M | $4.8M | $6.1M | $4.1M | $5.0M | $5.1M | $55.13B | $4.0M | $4.47B |
| Research & development | $63,366 | $15,204 | $3,180 | $35,620 | $455,470 | $15,723 | $8,739 | $236,568 | $629,810 | $6.4M | $889.7M |
| Sales, general & admin | — | — | $1.9M | $3.1M | $5.7M | $2.1M | $3.6M | $1.7M | $5.9M | $3.4M | $1.92B |
| Total operating expenses | $18.4M | $961,562 | $1.9M | $3.1M | $6.2M | $2.2M | $3.6M | $1.9M | −$14.9M | $9.7M | $14.81B |
| Operating income | −$15.5M | $3.3M | $2.3M | $1.7M | −$61,783 | $1.9M | $1.3M | $3.2M | $7.1M | −$5.7M | −$10.34B |
| Interest expense | $186,978 | $92,586 | $98,151 | $192,215 | $155,506 | $265,579 | $495,059 | $106,978 | $556,480 | $137,594 | $83,067 |
| Income before taxes | −$44.5M | $11.0M | −$1.9M | $2.6M | $4.2M | $3.2M | $2.3M | $3.4M | $7.6M | −$5.7M | −$10.63B |
| Income taxes | −$4.0M | $1.5M | $1.7M | $1.4M | $1.1M | $1.3M | $1.6M | $1.5M | −$1.0M | $1.0M | −$612.7M |
| Net income | −$40.5M | $9.5M | −$4.5M | $1.3M | $3.6M | $2.0M | $921,607 | $2.1M | $5.1M | −$6.6M | −$10.02B |
| EBITDA | −$15.4M | $3.3M | −$1.8M | $2.8M | $4.6M | $2.1M | $1.8M | $3.5M | −$1.5M | −$5.3M | −$11.7M |
| EPS (diluted) | — | $7.07 | — | $8.40 | — | — | — | $2.66 | −$0.39 | −$0.18 | −$0.26 |
| Gross margin | 16.3% | 20.6% | 19.3% | 22.3% | 22.2% | 20.5% | 18.7% | 19.0% | 99.9% | 19.3% | 10.6% |
| Operating margin | −86.7% | 15.9% | 10.6% | 8.0% | −0.2% | 9.6% | 5.1% | 11.9% | 0.0% | −27.8% | −24.5% |
| Net margin | −227.3% | 46.3% | −21.2% | 6.1% | 13.0% | 10.2% | 3.5% | 7.8% | 0.0% | −31.8% | −23.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TANH's financial statements (latest annual report filed May 14, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TANH financial results
In fiscal year 2025 (ended December 31, 2025), Tantech reported revenue of $38.4 million, down 10.7% from the year before. It had a net loss of $31.0 million, a net profit margin of −80.9%. Diluted earnings per share came to −$4.99. Over five years revenue grew at an average rate of −1.9% a year.
See the TANH stock overview for the latest quote and news, or the TANH chart for price history and technical indicators.
TANH income statement FAQ
What is Tantech's annual revenue?
Tantech reported total revenue of $38.4 million for fiscal year 2025, which ended on December 31, 2025. That was down 10.7% from $42.9 million the previous year.
Is Tantech profitable?
No. Tantech reported a net loss of $31.0 million in fiscal 2025, a net profit margin of −80.9%; its operating margin was −31.8%.
What is Tantech's gross margin?
Tantech's gross margin was 18.6% in fiscal 2025: for every $100 of revenue, Tantech kept $19 after the direct cost of its products and services.
How much does Tantech spend on research and development?
Tantech spent $0.1 million on research and development in fiscal 2025, 0.2% of revenue.
How fast is Tantech growing?
Revenue grew −1.9% a year on average over the last five fiscal years, from $42.3 million to $38.4 million.
What are Tantech's earnings per share?
Tantech earned $-4.99 per diluted share in fiscal 2025, compared with $10.23 a year earlier.
When does Tantech's fiscal year end?
Tantech's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on May 14, 2026.