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Side-by-side financial comparison of Metalpha Technology Holding Ltd (MATH) and Nano Labs Ltd (NA). Click either name above to swap in a different company.
Metalpha Technology Holding Ltd is the larger business by last-quarter revenue ($12.0M vs $2.7M, roughly 4.5× Nano Labs Ltd). Nano Labs Ltd runs the higher net margin — 754.5% vs -24.0%, a 778.5% gap on every dollar of revenue.
Metalpha Technology Holding LtdMATHEarnings & Financial Report
Metalpha Technology Holding Ltd is a global fintech firm specializing in digital asset wealth management, institutional-grade crypto investment services, and Web3 ecosystem infrastructure support. It serves professional investors, financial institutions, and high-net-worth clients across Asia, North America and Europe, with core segments including structured digital asset products, risk management solutions and DeFi technology development.
Weebit Nano is a public semiconductor IP company founded in Israel in 2015 and headquartered in Hod HaSharon, Israel. The company develops Resistive Random-Access Memory technologies. Resistive Random-Access Memory is a specialized form of non-volatile memory (NVM) for the semiconductor industry. The company's products are targeted at a broad range of NVM markets where persistence, performance, and endurance are all required. ReRAM technology can be integrated in electronic devices like weara...
MATH vs NA — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $2.7M |
| Net Profit | $-2.9M | $20.3M |
| Gross Margin | 28.3% | — |
| Operating Margin | -24.2% | — |
| Net Margin | -24.0% | 754.5% |
| Revenue YoY | -39.0% | — |
| Net Profit YoY | -147.7% | — |
| EPS (diluted) | $-0.07 | $1.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $2.7M | ||
| Q3 25 | $12.0M | — | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | $24.8M | — | ||
| Q3 24 | $19.7M | — | ||
| Q2 24 | — | $3.5M |
| Q4 25 | — | $20.3M | ||
| Q3 25 | $-2.9M | — | ||
| Q2 25 | — | $-985.5K | ||
| Q1 25 | $9.8M | — | ||
| Q3 24 | $6.0M | — | ||
| Q2 24 | — | $-8.0M |
| Q4 25 | — | — | ||
| Q3 25 | 28.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 85.7% | — | ||
| Q3 24 | 49.5% | — | ||
| Q2 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | -24.2% | — | ||
| Q2 25 | — | -459.2% | ||
| Q1 25 | 39.3% | — | ||
| Q3 24 | 38.9% | — | ||
| Q2 24 | — | -237.2% |
| Q4 25 | — | 754.5% | ||
| Q3 25 | -24.0% | — | ||
| Q2 25 | — | -85.2% | ||
| Q1 25 | 39.6% | — | ||
| Q3 24 | 30.7% | — | ||
| Q2 24 | — | -231.3% |
| Q4 25 | — | $1.03 | ||
| Q3 25 | $-0.07 | — | ||
| Q2 25 | — | $-0.06 | ||
| Q1 25 | $0.25 | — | ||
| Q3 24 | $0.16 | — | ||
| Q2 24 | — | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.1M | $4.9M |
| Total DebtLower is stronger | $101.2K | $24.5M |
| Stockholders' EquityBook value | $35.1M | $106.5M |
| Total Assets | $413.8M | $159.3M |
| Debt / EquityLower = less leverage | 0.00× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.9M | ||
| Q3 25 | $10.1M | — | ||
| Q2 25 | — | $50.8M | ||
| Q1 25 | $6.9M | — | ||
| Q3 24 | $3.8M | — | ||
| Q2 24 | — | $3.3M |
| Q4 25 | — | $24.5M | ||
| Q3 25 | $101.2K | — | ||
| Q2 25 | — | $24.8M | ||
| Q1 25 | $188.0K | — | ||
| Q3 24 | $275.1K | — | ||
| Q2 24 | — | $22.5M |
| Q4 25 | — | $106.5M | ||
| Q3 25 | $35.1M | — | ||
| Q2 25 | — | $86.8M | ||
| Q1 25 | $36.6M | — | ||
| Q3 24 | $25.3M | — | ||
| Q2 24 | — | $-5.1M |
| Q4 25 | — | $159.3M | ||
| Q3 25 | $413.8M | — | ||
| Q2 25 | — | $206.4M | ||
| Q1 25 | $246.8M | — | ||
| Q3 24 | $237.2M | — | ||
| Q2 24 | — | $51.2M |
| Q4 25 | — | 0.23× | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | 0.01× | — | ||
| Q3 24 | 0.01× | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.3M | $-8.3M |
| Free Cash FlowOCF − Capex | — | $-8.4M |
| FCF MarginFCF / Revenue | — | -312.3% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | — | -0.41× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.3M | ||
| Q3 25 | $3.3M | — | ||
| Q2 25 | — | $-7.1M | ||
| Q1 25 | $16.2M | — | ||
| Q3 24 | $-16.1M | — | ||
| Q2 24 | — | $-10.8M |
| Q4 25 | — | $-8.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-7.2M | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-15.4M |
| Q4 25 | — | -312.3% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -620.3% | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -443.4% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 133.1% |
| Q4 25 | — | -0.41× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.64× | — | ||
| Q3 24 | -2.66× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
