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DXST

Decent Holding Inc.

DXST

Decent Holding Inc. • NASDAQ
$1.63 ▲ 1.24% (+0.02)
Market Cap $26.48 M
52w High $5.74
52w Low $0.85
Dividend Yield 0%
P/E 16.3
Volume 152.77K
Outstanding Shares 16.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $5.499M ▼ $1.977M ▲ $-479.165K ▼ -8.714% ▼ $-0.029 ▼ $-405.157K ▼
Q4-2024 $9.319M ▲ $104.321K ▼ $2.119M ▲ 22.742% ▲ $0.13 ▲ $2.559M ▲
Q2-2024 $2.224M ▼ $602.959K ▲ $-15.848K ▼ -0.713% ▼ $-0.001 ▼ $16.245K ▼
Q2-2023 $7.338M $315.389K $1.899M 25.877% $0.12 $2.264M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $838.415K ▲ $13.514M ▲ $6.073M ▼ $7.442M ▲
Q4-2024 $407.031K ▼ $11.237M ▲ $6.22M ▲ $5.017M ▲
Q2-2024 $909.765K ▼ $6.049M ▲ $3.22M ▲ $2.829M ▲
Q4-2023 $1.325M ▲ $5.342M ▼ $2.527M ▼ $2.815M ▲
Q2-2023 $1.116M $7.698M $5.902M $1.795M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-479.165K ▼ $-612.555K ▼ $-1.946M ▼ $3.024M ▲ $431.384K ▲ $-613.14K ▼
Q4-2024 $2.119M ▲ $-42.891K ▲ $-41.787K ▲ $-429.365K ▼ $407.031K ▲ $-45.33K ▲
Q2-2024 $-15.848K ▼ $-319.431K ▼ $-75.694K ▼ $-37.249K ▲ $0 $-395.12K ▼
Q2-2023 $1.899M $812.116K $10.095K $-1.782M $0 $811.24K

Five-Year Company Overview

Income Statement

Income Statement DXST’s income statement looks more like that of an early-stage, pre-scale company than a mature industrial player. Reported revenue has been negligible so far, and profits, if any, appear to sit on a very thin base. There is no clear sign yet of stable margins or repeatable earnings; results are likely to swing around as individual projects start or stop. In practical terms, the business story today is about future potential and contract wins rather than current, proven profitability.

Balance Sheet

Balance Sheet The balance sheet is extremely small and simple. Assets and equity are modest, and there is no meaningful reported debt, which limits financial strain but also signals that the company has very limited resources to absorb shocks. Capitalization seems light and recently built up, likely tied to the listing rather than years of retained profits. This means financial flexibility is constrained, and the company’s ability to take on large projects or endure setbacks may depend heavily on continued access to external funding and careful cash management.

Cash Flow

Cash Flow Reported cash flow figures are essentially flat, which usually indicates either minimal operating activity, early-stage disclosure limitations, or both. There is no visible pattern yet of cash being consistently generated from projects, nor of heavy investment spending flowing through the statements. For now, it is unclear how self-funding the business model is, how much cash the company actually consumes to grow, or how often it will need fresh capital. This lack of a visible cash-flow track record is a key uncertainty.

Competitive Edge

Competitive Edge DXST is trying to carve out a niche in environmental services in China, especially in wastewater treatment and river restoration. Its edge appears to come from a mix of specialized microbial technologies, tailored solutions for difficult industrial effluents, and strong relationships with local governments and municipalities. Combining technology with the ability to design and build projects gives it a more complete offering than simple equipment suppliers. However, it operates in a market where larger, better-funded domestic and state-linked players exist, and where government policy, bidding rules, and local relationships can strongly influence who wins major contracts. Its small size and concentration in China also leave it exposed to regulatory, contract, and execution risk.

Innovation and R&D

Innovation and R&D Innovation is the strongest part of the DXST story. The company emphasizes proprietary microbial processes, particularly for protein-rich industrial wastewater, and owns a portfolio of patents and software rights. Its approach aims not only to clean water but also to recover useful materials, positioning its solutions within a circular-economy framework. Partnerships with universities support ongoing research and talent access, and the company has publicly stated that IPO proceeds will be directed toward advancing its technologies and expanding solutions for river and rural wastewater. The key question is not whether the technology is interesting, but how consistently DXST can turn that innovation into commercial contracts and long-term project relationships.

Summary

Overall, DXST looks like an early-stage, technology-focused environmental services company with very small current financials and an ambitious narrative. The numbers show minimal revenue, a tiny asset base, and no visible, sustained cash generation yet, so the financial track record is thin and outcomes may be volatile. On the other hand, the company’s technical focus, patents, and local government relationships in China give it a potentially differentiated position in a structurally growing space: water treatment, river restoration, and ecological services. The main opportunities lie in scaling project wins, securing long-term BOT/PPP-style contracts, and proving that its technology delivers reliable results at larger scale. The main risks are execution missteps, reliance on a limited set of markets and customers, policy and regulatory changes in China, and the limited financial cushion implied by its small balance sheet. At this stage, the story is driven much more by technology, partnerships, and pipeline expectations than by established financial performance.

NEWS

November 12, 2025 · 4:05 PM UTC

Decent Holding Inc. Announces Closing of US$8 Million Registered Offering of Class A Ordinary Shares and Warrants

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November 11, 2025 · 9:00 AM UTC

Decent Holding Inc. Announces Pricing of US$8 Million Registered Offering of Class A Ordinary Shares and Warrants

Read more