Cheetah Net (CTNT) investor relations material

Executive summary

• Revenue grew 182.7% year-over-year to $1.29 million, driven by full-year contributions from recent acquisitions.

• Operating loss widened to $4.58 million, up 22.4% year-over-year, mainly due to a $731,307 impairment loss on intangible assets and goodwill.

• Net loss from continuing operations increased 12.9% to $3.65 million.

• Discontinued the parallel-import vehicle business in March 2025, with no revenue from this segment in 2025.

Financial highlights

• Gross profit decreased 6.6% year-over-year to $166,775 despite higher revenue, reflecting increased cost of revenue.

• General and administrative expenses slightly decreased by 0.4% to $3.63 million.

• Share-based compensation rose 39.8% to $387,618.

• Interest income surged 188.4% to $924,224, primarily from proceeds of public offerings.

• Cash and cash equivalents at year-end were $233,217, with working capital of $7.7 million.

Outlook and guidance

• Focus remains on improving operational efficiency, financial discipline, and evaluating strategic opportunities such as partnerships, investments, or acquisitions.

• Management believes current liquidity measures are sufficient for at least 12 months, but may seek additional financing if needed.