ZCMD Zhongchao Inc.

Overview and Growth

In fiscal 2025, Zhongchao Inc. recorded $11.37M of revenue, net loss of $6.31M, and an operating cash inflow of $845.39K. Revenue of $11.37M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $15.86M in fiscal 2024, revenue decreased 28.3%, a top-line contraction that reduced operating scale. On a per-share basis, diluted EPS was -$1.85, which connects the reported earnings outcome with the company’s diluted share count. A diluted share base of 3.42M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. The diluted share count was 425.3% higher than fiscal 2024, when diluted shares averaged 650.68K, adding context to the EPS comparison. The company employed $24.15M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 0.47x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $5.12M as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 45.0% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was an operating loss of $6.19M, reflecting costs that exceeded gross profit. The operating loss equaled 54.4% of revenue, showing the scale of the operating deficit relative to sales. After all below-operating-line items, the company recorded a net loss of $6.31M for the fiscal year. Net margin was -55.5%, reflecting a loss equal to 55.5% of reported revenue. Negative EBITDA totaled $5.90M, confirming that the earnings deficit remained before depreciation and amortization. The company reported a pretax loss of $5.77M, before the effect of income taxes. Pretax margin was -50.7%, reflecting a pre-tax loss equal to 50.7% of revenue. Income tax expense totaled $46.18K, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-equity relationship was 27.9%, placing the bottom-line deficit against shareholder capital. The net loss equaled 26.1% of period-end assets, showing the deficit relative to the asset base. The bottom-line deficit increased from $643.23K in fiscal 2024 to $6.31M.

Liquidity and Capital Structure

The company held $24.15M of assets against $1.55M of liabilities and $22.60M of equity, revealing how the asset base was financed. At period end, current assets of $16.96M compared with current liabilities of $1.53M, defining the company’s short-term resource position. The current ratio was 11.11x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $8.10M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 530.5% of current liabilities, showing how much near-term coverage came from cash alone. The equity-to-assets relationship was 93.6%, placing book capital against the total resource base. The liabilities-to-assets relationship was 6.4%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 33.5% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 6.7% from $25.88M in fiscal 2024, leaving current total assets lower year over year. Against $24.15M of equity in fiscal 2024, the current book-equity balance moved 6.4% and ended lower. The reported cash balance changed 3.3% from $7.84M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $845.39K, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow moved from a $1.47M outflow in fiscal 2024 to a $845.39K inflow.

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