10-Q · December 19, 2024
ATIF reported zero revenue for the quarter (down from $125,000 a year earlier) and a net loss of $367,074 ($0.03 per share), an improvement from a $625,463 loss ($0.06 per share) in the prior-year quarter. Liquidity was…
Earnings analysis · 10-Q
ZBAI earnings analysis
Filed June 6, 2025 · Our reading of the company's report
The latest report
ATIF reported Q3 revenue of $250,000 (up from $200,000 a year ago) and EPS of $(0.09). Liquidity materially improved with cash of $6,681,402 and trading securities of $1,134,482 as of April 30, 2025 following equity…
Read full summary
ATIF reported Q3 revenue of $250,000 (up from $200,000 a year ago) and EPS of $(0.09). Liquidity materially improved with cash of $6,681,402 and trading securities of $1,134,482 as of April 30, 2025 following equity raises and a $3,611,000 capital contribution in trading securities. However, net loss widened to $1,589,040 in the quarter (nine-month loss $3,859,571) driven largely by a $1,400,028 (quarter) / $2,538,592 (nine months) loss on trading securities and operating cash outflows of $2,134,768 for the nine months. Management reiterates going-concern uncertainty and the need to increase revenue and/or obtain outside financing to achieve positive operating cash flows.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.09
- Operating margin
- -75.6048%
What stood out
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Revenue increased YoY
Quarterly revenue rose to $250,000 vs $200,000 in the three months ended April 30, 2024 (increase of $50,000).
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Strong cash balance after financings
Cash and cash equivalents totaled $6,681,402 as of April 30, 2025, up from $1,249,376 at the beginning of the period (net increase in cash $5,432,026).
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Material capital contributions and financings
Company recorded a $3,611,000 capital contribution in the form of trading securities and raised gross proceeds of $4.8 million (Jan 2025) and $2.5 million (Feb 2025, recorded net proceeds ~$2.1M).
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Liquid short-term investments
Investments in trading securities were $1,134,482 as of April 30, 2025, up from $424,148 on July 31, 2024.
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Shareholders’ equity improved
Total shareholders’ equity increased to $8,409,902 as of April 30, 2025 from $1,753,754 as of July 31, 2024.
What to watch
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Net loss widened significantly
Net loss for the three months ended April 30, 2025 was $1,589,040 vs $807,588 in the prior-year quarter; nine-month net loss was $3,859,571 vs $1,840,689 prior year.
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Large losses from trading securities
Loss from investment in trading securities was $1,400,028 in the quarter and $2,538,592 for the nine months ended April 30, 2025.
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Operating cash outflow
Net cash used in operating activities was $(2,134,768) for the nine months ended April 30, 2025 versus $(84,188) in the prior-year period.
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Going concern uncertainty remains
MD&A states factors 'indicate the existence of an uncertainty that raises substantial doubt about the Company’s ability to continue as a going concern' while reporting a nine-month net loss of $3,859,571 and operating cash outflows of $2,134,768.
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Revenue scale still small
Quarterly revenue was $250,000 and nine-month revenue was $450,000, leaving the business still limited in scale relative to ongoing losses and investment volatility.
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Concentration of receivables / related-party balances
Accounts receivable of $250,000 and due from related parties of $600,000 (as of April 30, 2025) indicate material balances with a small number of counterparties.
Management's outlook
The 10-Q contains forward-looking language but no explicit numeric guidance. MD&A states the Company 'needs additional capital' and that continuation depends on increasing revenue while controlling operating costs and obtaining outside financing; outlook is therefore deferred to future financing and operational results.
Earlier filings 3
10-K · November 13, 2023
ATIF Holdings reports revenue growth to $2,450,000 for the year ended July 31, 2023, driven by new U.S. and Mexico clients after divesting its China/HK subsidiaries. Management executed a strategic shift (completed…
10-Q · December 15, 2022
ATIF Holdings Limited reported a significant decline in revenue and increased operational expenses, leading to a smaller net loss compared to the previous year. The company generated $300,000 in revenue, down from…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.