ANTA Antalpha Platform Holding Co

Overview and Growth

Fiscal 2025 results for Antalpha Platform Holding Co combined $79.68M of revenue with net income of $24.43M and an operating cash outflow of $3.84M. The $79.68M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 67.9% from $47.45M in fiscal 2024, increasing the company’s operating scale. Diluted earnings per share were $0.75, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $0.23 in fiscal 2024, the current result was 226.1% higher. At period end, total assets were $2.41B, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.03x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Operating income was $15.02M, the earnings remaining from reported operations after the company’s recognized operating cost structure. The operating result equaled 18.8% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $24.43M for the fiscal year. Net margin was 30.7%, meaning that this portion of revenue remained as net income after all recognized expenses. Pretax income was $26.77M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 33.6% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $2.34M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 8.7%, quantifying the portion of pre-tax earnings paid in income tax. Net income equaled 12.1% of period-end equity, showing the earnings generated on shareholders’ book capital. Net income represented 1.0% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Current net income of $24.43M was above fiscal 2024 net income of $4.39M, showing the direction of the bottom-line change.

Liquidity and Capital Structure

The company held $2.41B of assets against $2.20B of liabilities and $202.32M of equity, revealing how the asset base was financed. The near-term balance sheet paired $874.19M of current assets with $753.65M of current liabilities at the reporting date. The current ratio was 1.16x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $7.85M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 1.0% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Liabilities represented 91.6% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 0.3%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 91.8% higher than fiscal 2024 assets of $1.25B, measuring the company’s own balance-sheet change. Against $46.38M of equity in fiscal 2024, the current book-equity balance moved 336.2% and ended higher. Cash and equivalents were 32.5% higher than fiscal 2024 cash of $5.93M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $3.84M, showing that operations absorbed cash during the period. Capital spending of $380.11K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Negative free cash flow was $4.22M, leaving a cash deficit after capital spending and reducing financial flexibility. The free-cash-flow deficit equaled 5.3% of revenue, showing the post-investment cash shortfall relative to sales. The free-cash-flow deficit equaled 0.2% of total assets, placing the cash shortfall against the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.