TH International Limited (THCH) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 |
|---|
| Sales/Revenue | 304.2M | 358.02M | 348.98M | 300.74M | 332.62M | 359.55M | 366.83M | 332.14M | 391.19M | 433.92M | 411.71M | 336.48M | 301.48M | 305.72M | 179.21M | 224.66M | 223.97M | 182.13M | 135.82M | 118.63M |
| Revenue Growth % | -8.54% | -0.43% | -4.87% | -9.45% | -14.97% | -17.14% | -10.9% | -1.29% | 29.76% | 41.93% | 129.74% | 49.77% | 34.6% | 67.86% | 31.95% | 89.37% | 196.54% | 141.14% | 345.11% | 288.79% |
| Cost of Goods Sold | 294.71M | 295.58M | 288.79M | 256.25M | 287.6M | 287.1M | 304.63M | 298.26M | 369.54M | 380.17M | 360.04M | 309.25M | 286.44M | 251.83M | 208.56M | 231.18M | 225.38M | 184.17M | 127.22M | 105.61M |
| COGS % of Revenue | 96.88% | 82.56% | 82.75% | 85.21% | 86.46% | 79.85% | 83.04% | 89.8% | 94.46% | 87.61% | 87.45% | 91.91% | 95.01% | 82.37% | 116.38% | 102.9% | 100.63% | 101.12% | 93.67% | 89.02% |
| Gross Profit | 9.5M | 62.44M | 60.19M | 44.49M | 45.03M | 72.45M | 62.2M | 33.88M | 21.66M | 53.75M | 51.66M | 27.23M | 15.04M | 53.89M | -29.35M | -6.53M | -1.41M | -2.04M | 8.6M | 13.03M |
| Gross Margin % | 3.12% | 17.44% | 17.25% | 14.79% | 13.54% | 20.15% | 16.96% | 10.2% | 5.54% | 12.39% | 12.55% | 8.09% | 4.99% | 17.63% | -16.38% | -2.9% | -0.63% | -1.12% | 6.33% | 10.98% |
| Gross Profit Growth % | -78.91% | -13.81% | -3.24% | 31.31% | 107.91% | 34.79% | 20.4% | 24.44% | 43.96% | -0.25% | 276.02% | 517.29% | 1167.64% | 2745.36% | -441.37% | -150.09% | -184.78% | -222.56% | -17.06% | 25.66% |
| Operating Expenses | 95.34M | 117.83M | 98.24M | 115.44M | 145.88M | 111.69M | 116.92M | 155.14M | 253.82M | 201.4M | 223.12M | 157.65M | 146.4M | 204.36M | 135.09M | 128.39M | 127.94M | 110.93M | 81.76M | 79.1M |
| OpEx % of Revenue | 31.34% | 32.91% | 28.15% | 38.39% | 43.86% | 31.06% | 31.87% | 46.71% | 64.88% | 46.41% | 54.19% | 46.85% | 48.56% | 66.85% | 75.38% | 57.15% | 57.12% | 60.91% | 60.2% | 66.68% |
| Selling, General & Admin | 93.41M | 67.62M | 51.6M | 69.24M | 90.08M | 58.25M | 52.61M | 74.23M | 92.01M | 97.78M | 152.4M | 88.92M | 90.76M | 134.42M | 82.17M | 63.21M | 79.08M | 63.94M | 45.4M | 46.49M |
| SG&A % of Revenue | 30.71% | 18.89% | 14.79% | 23.02% | 27.08% | 16.2% | 14.34% | 22.35% | 23.52% | 22.53% | 37.02% | 26.43% | 30.11% | 43.97% | 45.85% | 28.14% | 35.31% | 35.11% | 33.42% | 39.19% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Operating Income | -85.84M | -55.39M | -38.05M | -70.95M | -100.85M | -39.24M | -54.71M | -121.26M | -232.16M | -147.65M | -171.46M | -130.42M | -131.36M | -150.47M | -164.44M | -134.91M | -129.35M | -112.96M | -73.16M | -66.08M |
| Operating Margin % | -28.22% | -15.47% | -10.9% | -23.59% | -30.32% | -10.91% | -14.91% | -36.51% | -59.35% | -34.03% | -41.65% | -38.76% | -43.57% | -49.22% | -91.76% | -60.05% | -57.75% | -62.02% | -53.87% | -55.7% |
| Operating Income Growth % | 14.89% | -41.18% | 30.46% | 41.49% | 56.56% | 73.43% | 68.09% | 7.02% | -76.73% | 1.88% | -4.27% | 3.33% | -1.56% | -33.21% | -124.75% | -104.17% | -202.13% | -163.87% | -163.41% | -137.9% |
| EBITDA | -59.99M | -28.82M | -11.26M | -42.59M | -64.78M | -9.44M | -24.19M | -88.03M | -196.45M | -111.3M | -137M | -97.44M | -97.82M | -119.86M | -135.83M | -109.02M | -108.36M | -93.51M | -66.2M | -59.12M |
| EBITDA Margin % | -19.72% | -8.05% | -3.23% | -14.16% | -19.48% | -2.63% | -6.59% | -26.51% | -50.22% | -25.65% | -33.28% | -28.96% | -32.45% | -39.2% | -75.79% | -48.53% | -48.38% | -51.34% | -48.74% | -49.83% |
| EBITDA Growth % | 7.4% | -205.19% | 53.46% | 51.62% | 67.02% | 91.51% | 82.34% | 9.65% | -100.83% | 7.14% | -0.87% | 10.62% | 9.73% | -28.17% | -105.17% | -84.42% | -202.25% | -130.12% | -158.6% | -130.93% |
| D&A (Non-Cash Add-back) | 25.85M | 26.57M | 26.79M | 28.36M | 36.07M | 29.79M | 30.52M | 33.23M | 35.71M | 36.35M | 34.45M | 32.97M | 33.54M | 30.62M | 28.61M | 25.89M | 20.99M | 19.45M | 6.96M | 6.96M |
| EBIT | -220.09M | -69.51M | -70.61M | -55.37M | -134.55M | -82.9M | -89.31M | -129.1M | -304.4M | -143.05M | -215.41M | -170.12M | -218.35M | -190.73M | -172.22M | -148.64M | -135.29M | -112.57M | -72.42M | -65.71M |
| Net Interest Income | -3.32M | -2.46M | -3.85M | -3.48M | -2.72M | -3.1M | -8.83M | -4.6M | -3.46M | 2.9M | -3.37M | -2.31M | -2.8M | -3.62M | -3.25M | -2.43M | -1.69M | -163K | 180.94K | -475.41K |
| Interest Income | 639.05K | 1.8M | 983K | 100K | 981.95K | 980K | 252K | 992K | 3.21M | 7.47M | 1.49M | 2.02M | 1.73M | 642K | 147.88K | 186K | 30K | 20K | 180.94K | 0 |
| Interest Expense | 3.96M | 4.25M | 4.83M | 3.58M | 3.71M | 4.08M | 9.08M | 5.59M | 6.66M | 4.57M | 4.85M | 4.34M | 4.52M | 4.26M | 3.4M | 2.62M | 1.72M | 183K | 0 | 475.41K |
| Other Income/Expense | -138.21M | -18.37M | -37.39M | 12.01M | -37.4M | -47.74M | -43.68M | -13.43M | -78.9M | 31K | -48.8M | -44.03M | -91.52M | -44.52M | -11.18M | -16.35M | -7.66M | -129K | -3.28M | -337.64K |
| Pretax Income | -224.05M | -73.76M | -75.44M | -58.94M | -138.26M | -86.97M | -98.39M | -134.69M | -311.06M | -147.62M | -220.26M | -174.45M | -222.88M | -194.99M | -175.62M | -151.26M | -137.01M | -113.09M | -76.45M | -66.41M |
| Pretax Margin % | -73.65% | -20.6% | -21.62% | -19.6% | -41.57% | -24.19% | -26.82% | -40.55% | -79.52% | -34.02% | -53.5% | -51.85% | -73.93% | -63.78% | -98% | -67.33% | -61.17% | -62.09% | -56.29% | -55.98% |
| Income Tax | 0 | 0 | 484K | 0 | 616.01K | 410K | 1.09M | 0 | 97.24K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | -0.64% | 0% | -0.45% | -0.47% | -1.11% | 0% | -0.03% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -224.97M | -72.89M | -75.45M | -58.02M | -131.56M | -88.85M | -47.63M | -144.04M | -312.08M | -160.6M | -228.68M | -174.88M | -223.87M | -194.38M | -173.78M | -150.62M | -138.33M | -111.01M | -77M | -66.19M |
| Net Margin % | -73.95% | -20.36% | -21.62% | -19.29% | -39.55% | -24.71% | -12.98% | -43.37% | -79.78% | -37.01% | -55.54% | -51.97% | -74.26% | -63.58% | -96.97% | -67.04% | -61.76% | -60.95% | -56.69% | -55.79% |
| Net Income Growth % | -71% | 17.96% | -58.43% | 59.72% | 57.85% | 44.68% | 79.17% | 17.63% | -39.41% | 17.38% | -31.59% | -16.11% | -61.83% | -75.11% | -125.69% | -127.55% | -213.21% | -151.34% | -186.96% | -146.67% |
| Net Income (Continuing) | -224.05M | -73.76M | -75.92M | -58.94M | -138.87M | -87.39M | -99.48M | -134.69M | -311.16M | -147.62M | -220.26M | -174.45M | -222.88M | -194.99M | -175.62M | -151.26M | -137.01M | -113.09M | -76.45M | -66.41M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 1000K | 0 | 1000K | -1000K | 0 | -1000K | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 6.56M | 5.62M | 6.48M | 6.95M | 7.87M | 8.7M | 7.24M | 5.99M | 4.78M | 3.85M | 2.91M | 1.89M | 1.45M | 465K | 1.08M | 0 | 3.56M | 0 | 4.32M | 0 |
| EPS (Diluted) | -6.92 | -2.24 | -2.32 | -1.78 | -4.05 | -2.74 | -1.41 | -4.50 | -9.70 | -5.05 | -7.50 | -7.95 | -11.15 | -9.40 | -6.75 | -6.40 | -5.15 | -4.10 | -2.85 | -2.95 |
| EPS Growth % | -70.86% | 18.25% | -64.54% | 60.44% | 58.25% | 45.74% | 81.2% | 43.4% | 13% | 46.28% | -11.11% | -24.22% | -116.5% | -129.27% | -136.84% | -116.95% | -134.09% | -86.36% | -111.11% | -118.52% |
| EPS (Basic) | -6.92 | -2.24 | -2.32 | -1.78 | -4.05 | -2.74 | -1.24 | -4.50 | -9.70 | -5.05 | -7.50 | -7.95 | -11.30 | -9.40 | -6.75 | -6.40 | -5.15 | -4.10 | -2.85 | -2.95 |
| Diluted Shares Outstanding | 32.52M | 32.54M | 32.52M | 32.6M | 32.49M | 32.48M | 38.39M | 32.01M | 32.12M | 31.8M | 30.49M | 27.98M | 28.19M | 24.94M | 26.93M | 26.93M | 26.93M | 26.93M | 26.93M | 22.37M |
| Basic Shares Outstanding | 32.52M | 32.54M | 32.52M | 32.6M | 32.49M | 32.48M | 38.39M | 32.01M | 32.12M | 31.75M | 30.46M | 27.92M | 27.84M | 24.92M | 26.93M | 26.93M | 26.93M | 26.93M | 26.93M | 22.37M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |