NASDAQ · NCTY
The9 Limited American Depository Shares representing three financials
$3.39+1.50%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.4M | $15.3M | $24.6M | $15.2M | $135.6M | $95.9K | $49.1K | $2.5M | $11.3M | $8.1M |
| Gross profit | $258.6K | -$219.8K | -$5.5M | -$6.9M | $47.8M | -$28.9K | -$143.8K | $153.7K | $7.6M | $1.1M |
| Gross margin | 1.7% | −1.4% | −22.5% | −45.2% | 35.2% | −30.2% | −293.1% | 6.0% | 67.5% | 13.8% |
| Operating income | -$36.5M | -$23.0M | -$56.6M | -$97.5M | -$307.7M | -$21.3M | -$23.7M | -$16.8M | -$17.4M | -$42.6M |
| Net income | -$57.5M | -$10.1M | $2.8M | -$141.3M | -$411.2M | $60.8M | -$27.4M | -$37.5M | -$26.9M | -$97.5M |
| Net margin | −373.0% | −65.7% | 11.5% | −929.1% | −303.3% | 63421.6% | −55819.7% | −1475.0% | −239.4% | −1202.2% |
| Diluted EPS | $-0.03 | $-0.01 | $0.00 | $-0.20 | $-0.83 | $3.70 | $-26.00 | $-60.00 | $-241.80 | $-1224.00 |
| EBITDA | -$33.3M | -$13.6M | -$21.6M | -$59.9M | -$197.7M | -$17.1M | -$18.1M | -$16.0M | -$16.3M | -$28.5M |
| Operating cash flow | -$4.5M | -$6.1M | -$6.5M | -$22.3M | -$704.3M | -$16.3M | -$7.8M | -$14.7M | -$13.3M | -$26.1M |
| Free cash flow | -$4.7M | -$6.1M | -$6.8M | -$58.4M | -$779.9M | -$16.9M | -$7.9M | -$14.8M | -$13.4M | -$26.3M |
| Diluted shares | 2,273.8M | 1,403.2M | 1,010.9M | 720.2M | 495.3M | 16.4M | 1.1M | 0.6M | 0.1M | 0.1M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $8.4M | $1.5M | $6.4M | $58.1M | $67.2M | $4.9M |
| Short-term investments | $0.00 | $0.00 | $0.00 | $0.00 | $125.5K | — |
| Total debt | $32.4M | $18.3M | $9.5M | $63.1M | $41.4M | $26.1M |
| Total assets | $84.9M | $87.2M | $51.4M | $599.1M | $205.6M | $7.4M |
| Total liabilities | $50.2M | $28.7M | $25.8M | $571.6M | $85.8M | $56.2M |
| Shareholders' equity | $24.3M | $44.5M | $25.6M | $27.5M | $119.8M | -$102.3M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology