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Side-by-side financial comparison of Next Technology Holding Inc. (NXTT) and Token Cat Ltd (TC). Click either name above to swap in a different company.
Token Cat Ltd is the larger business by last-quarter revenue ($2.8M vs $1.8M, roughly 1.5× Next Technology Holding Inc.). Token Cat Ltd runs the higher net margin — -3.4% vs -944.6%, a 941.3% gap on every dollar of revenue.
Hospitality Technology Next Generation (HTNG) is a global non-profit trade association serving hotel companies and technology providers.
NXTT vs TC — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.8M | $2.8M |
| Net Profit | $-16.9M | $-93.0K |
| Gross Margin | 45.1% | 79.0% |
| Operating Margin | -2478.8% | -206.9% |
| Net Margin | -944.6% | -3.4% |
| Revenue YoY | — | -37.9% |
| Net Profit YoY | -1331.1% | 98.3% |
| EPS (diluted) | $-6.86 | — |
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.
| Q3 25 | $1.8M | — | ||
| Q2 25 | — | $2.8M | ||
| Q2 24 | — | $4.4M | ||
| Q3 23 | $1.6M | — | ||
| Q2 23 | $-11.0K | $12.7M | ||
| Q1 23 | $614.4K | — | ||
| Q4 22 | $2.5M | — | ||
| Q3 22 | $5.6M | — |
| Q3 25 | $-16.9M | — | ||
| Q2 25 | — | $-93.0K | ||
| Q2 24 | — | $-5.6M | ||
| Q3 23 | $-14.3M | — | ||
| Q2 23 | $-1.2M | $-4.2M | ||
| Q1 23 | $-942.1K | — | ||
| Q4 22 | $-1.7M | — | ||
| Q3 22 | $-6.3M | — |
| Q3 25 | 45.1% | — | ||
| Q2 25 | — | 79.0% | ||
| Q2 24 | — | 69.2% | ||
| Q3 23 | 75.2% | — | ||
| Q2 23 | 857.8% | 63.4% | ||
| Q1 23 | — | — | ||
| Q4 22 | 18.2% | — | ||
| Q3 22 | -23.1% | — |
| Q3 25 | -2478.8% | — | ||
| Q2 25 | — | -206.9% | ||
| Q2 24 | — | -146.9% | ||
| Q3 23 | 60.9% | — | ||
| Q2 23 | 1237.8% | -59.9% | ||
| Q1 23 | -27.1% | — | ||
| Q4 22 | -27.5% | — | ||
| Q3 22 | -112.6% | — |
| Q3 25 | -944.6% | — | ||
| Q2 25 | — | -3.4% | ||
| Q2 24 | — | -125.9% | ||
| Q3 23 | -874.4% | — | ||
| Q2 23 | 11012.4% | -33.3% | ||
| Q1 23 | -153.3% | — | ||
| Q4 22 | -67.5% | — | ||
| Q3 22 | -112.2% | — |
| Q3 25 | $-6.86 | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | — | ||
| Q3 23 | $-0.29 | — | ||
| Q2 23 | $-0.13 | — | ||
| Q1 23 | $-0.16 | — | ||
| Q4 22 | — | — | ||
| Q3 22 | $-0.04 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $12.4M | $150.0K |
| Total DebtLower is stronger | — | $1.4M |
| Stockholders' EquityBook value | $575.1M | $4.6M |
| Total Assets | $679.5M | $28.4M |
| Debt / EquityLower = less leverage | — | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $12.4M | — | ||
| Q2 25 | — | $150.0K | ||
| Q2 24 | — | $689.0K | ||
| Q3 23 | $1.4M | — | ||
| Q2 23 | $20.0M | $3.0M | ||
| Q1 23 | $20.1M | — | ||
| Q4 22 | $22.9K | — | ||
| Q3 22 | $20.3M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | $1.4M | ||
| Q2 24 | — | $1.8M | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | $575.1M | — | ||
| Q2 25 | — | $4.6M | ||
| Q2 24 | — | $-787.0K | ||
| Q3 23 | $39.4M | — | ||
| Q2 23 | $39.9M | $9.1M | ||
| Q1 23 | $41.1M | — | ||
| Q4 22 | $41.7M | — | ||
| Q3 22 | $42.0M | — |
| Q3 25 | $679.5M | — | ||
| Q2 25 | — | $28.4M | ||
| Q2 24 | — | $12.5M | ||
| Q3 23 | $41.4M | — | ||
| Q2 23 | $42.4M | $25.1M | ||
| Q1 23 | $43.2M | — | ||
| Q4 22 | $46.5M | — | ||
| Q3 22 | $46.1M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | 0.30× | ||
| Q2 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
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 | — | $-23.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | — | ||
| Q2 25 | — | $-23.7M | ||
| Q2 24 | — | $-1.5M | ||
| Q3 23 | $21.6M | — | ||
| Q2 23 | $-136.5K | $-7.2M | ||
| Q1 23 | $-511.8K | — | ||
| Q4 22 | $3.0M | — | ||
| Q3 22 | $-46.1M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | $-1.5M | ||
| Q3 23 | $-3.3M | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | -34.4% | ||
| Q3 23 | -204.9% | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q2 24 | — | 0.0% | ||
| Q3 23 | 1529.5% | — | ||
| Q2 23 | — | — | ||
| Q1 23 | 0.0% | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
