EHGO
EHGO
Eshallgo Inc. Class A Ordinary SharesIncome Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2025 | $6.76M ▲ | $8.58M ▲ | $-7.64M ▼ | -113.01% ▼ | $-0.34 ▼ | $-7.28M ▼ |
| Q2-2025 | $6.71M ▼ | $4.59M ▲ | $-3.16M ▼ | -47.06% ▼ | $-0.15 ▼ | $-2.77M ▼ |
| Q4-2024 | $8.68M ▲ | $1.94M ▲ | $-171.59K ▼ | -1.98% ▼ | $-0 ▼ | $695.99K ▼ |
| Q2-2024 | $8.28M ▼ | $1.72M ▲ | $180.24K ▼ | 2.18% ▼ | $0.01 ▼ | $883.85K ▼ |
| Q4-2023 | $9.18M | $1.5M | $337.9K | 3.68% | $0.02 | $1.24M |
What's going well?
Revenue held steady, showing some stability in sales. The company cut back sharply on sales and marketing spending, which could help control future costs.
What's concerning?
Losses more than doubled as operating expenses soared, and the company is losing over a dollar for every dollar in sales. Share dilution and rising interest costs add to the pain, with no sign of a turnaround yet.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $10.63M ▲ | $24.81M ▲ | $8.25M ▲ | $10.47M ▼ |
| Q2-2025 | $7.75M ▲ | $23.72M ▲ | $3.38M ▲ | $13.79M ▲ |
| Q4-2024 | $6.49M ▲ | $19.7M ▼ | $2.6M ▼ | $10.74M ▼ |
| Q2-2024 | $5.69M ▼ | $19.79M ▼ | $3.13M ▼ | $10.8M ▲ |
| Q4-2023 | $5.76M | $20.69M | $3.97M | $10.8M |
What's financially strong about this company?
EHGO has a huge cash cushion, almost no long-term debt, and most assets are high quality and easy to turn into cash. The company can easily pay its bills and has no risky goodwill or hidden obligations.
What are the financial risks or weaknesses?
Shareholder equity dropped sharply this quarter, and the company has a history of losses (negative retained earnings). The sudden jump in short-term debt is worth watching, even though cash covers it for now.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2025 | $-7.64M ▼ | $-1.12M ▼ | $-391.82K ▲ | $4.22M ▼ | $2.62M ▲ | $-1.16M ▼ |
| Q2-2025 | $-3.16M ▼ | $-3.31K ▼ | $-4.77M ▼ | $4.29M ▲ | $-379.96K ▼ | $-54.29K ▼ |
| Q4-2024 | $-171.59K ▼ | $1.87M ▲ | $-453.12K ▲ | $-119.63K ▼ | $1.39M ▲ | $1.84M ▲ |
| Q2-2024 | $180.24K ▼ | $351.47K ▲ | $-1.17M ▼ | $110.24K ▲ | $-973.5K ▼ | $327.42K ▲ |
| Q4-2023 | $337.9K | $-122.9K | $1.04M | $-32.15K | $1.07M | $-432.76K |
What's strong about this company's cash flow?
The company still has $7.6 million in cash, giving it some breathing room. Most losses are non-cash, so actual cash burn is less than the headline net loss.
What are the cash flow concerns?
Cash burn is rising fast and the company relies on selling new shares to survive. Shareholder dilution is significant, and without new funding, the cash could run out within a year.
5-Year Trend Analysis
A comprehensive look at Eshallgo Inc. Class A Ordinary Shares's financial evolution and strategic trajectory over the past five years.
Eshallgo combines a historically healthy balance sheet and cash position with an ambitious move into a high-growth sector. It has an existing network of SME clients in China, a clear understanding of office workflows, and differentiated AI offerings that emphasize on-premise deployment and data security. Until recently, the business had a track record of positive earnings and cash generation, and leverage remains modest even after recent borrowing.
The most pressing risks are financial and execution-related. Revenue has been shrinking, profitability has collapsed into a substantial loss, and free cash flow has turned negative. Overhead costs surged just as R&D was cut back, suggesting that the cost structure and investment priorities are still being recalibrated. The company is relying more on external financing to support operations, and it must execute a challenging strategic pivot in a highly competitive AI landscape while under this financial strain.
The outlook is highly uncertain and depends on whether Eshallgo can stabilize its legacy business, bring its new AI products to meaningful scale, and restore cost discipline. Its strong starting balance sheet and access to financing provide some runway to pursue this transition, but the recent deterioration in earnings and cash flow indicates limited room for prolonged missteps. If the AI strategy gains traction and management reins in expenses, the financial profile could gradually improve; if not, the company may face increasing pressure on both its operations and balance sheet over time.
About Eshallgo Inc. Class A Ordinary Shares
https://www.eshallgo.comEshallgo Inc., through its subsidiaries, engages in the sale and leasing of office equipment and related maintenance services in the People's Republic of China. The company also sells office furniture, IT products, water dispensers, printing papers, and other products, as well as provides maintenance services with enterprise resource planning systems.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2025 | $6.76M ▲ | $8.58M ▲ | $-7.64M ▼ | -113.01% ▼ | $-0.34 ▼ | $-7.28M ▼ |
| Q2-2025 | $6.71M ▼ | $4.59M ▲ | $-3.16M ▼ | -47.06% ▼ | $-0.15 ▼ | $-2.77M ▼ |
| Q4-2024 | $8.68M ▲ | $1.94M ▲ | $-171.59K ▼ | -1.98% ▼ | $-0 ▼ | $695.99K ▼ |
| Q2-2024 | $8.28M ▼ | $1.72M ▲ | $180.24K ▼ | 2.18% ▼ | $0.01 ▼ | $883.85K ▼ |
| Q4-2023 | $9.18M | $1.5M | $337.9K | 3.68% | $0.02 | $1.24M |
What's going well?
Revenue held steady, showing some stability in sales. The company cut back sharply on sales and marketing spending, which could help control future costs.
What's concerning?
Losses more than doubled as operating expenses soared, and the company is losing over a dollar for every dollar in sales. Share dilution and rising interest costs add to the pain, with no sign of a turnaround yet.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $10.63M ▲ | $24.81M ▲ | $8.25M ▲ | $10.47M ▼ |
| Q2-2025 | $7.75M ▲ | $23.72M ▲ | $3.38M ▲ | $13.79M ▲ |
| Q4-2024 | $6.49M ▲ | $19.7M ▼ | $2.6M ▼ | $10.74M ▼ |
| Q2-2024 | $5.69M ▼ | $19.79M ▼ | $3.13M ▼ | $10.8M ▲ |
| Q4-2023 | $5.76M | $20.69M | $3.97M | $10.8M |
What's financially strong about this company?
EHGO has a huge cash cushion, almost no long-term debt, and most assets are high quality and easy to turn into cash. The company can easily pay its bills and has no risky goodwill or hidden obligations.
What are the financial risks or weaknesses?
Shareholder equity dropped sharply this quarter, and the company has a history of losses (negative retained earnings). The sudden jump in short-term debt is worth watching, even though cash covers it for now.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2025 | $-7.64M ▼ | $-1.12M ▼ | $-391.82K ▲ | $4.22M ▼ | $2.62M ▲ | $-1.16M ▼ |
| Q2-2025 | $-3.16M ▼ | $-3.31K ▼ | $-4.77M ▼ | $4.29M ▲ | $-379.96K ▼ | $-54.29K ▼ |
| Q4-2024 | $-171.59K ▼ | $1.87M ▲ | $-453.12K ▲ | $-119.63K ▼ | $1.39M ▲ | $1.84M ▲ |
| Q2-2024 | $180.24K ▼ | $351.47K ▲ | $-1.17M ▼ | $110.24K ▲ | $-973.5K ▼ | $327.42K ▲ |
| Q4-2023 | $337.9K | $-122.9K | $1.04M | $-32.15K | $1.07M | $-432.76K |
What's strong about this company's cash flow?
The company still has $7.6 million in cash, giving it some breathing room. Most losses are non-cash, so actual cash burn is less than the headline net loss.
What are the cash flow concerns?
Cash burn is rising fast and the company relies on selling new shares to survive. Shareholder dilution is significant, and without new funding, the cash could run out within a year.
5-Year Trend Analysis
A comprehensive look at Eshallgo Inc. Class A Ordinary Shares's financial evolution and strategic trajectory over the past five years.
Eshallgo combines a historically healthy balance sheet and cash position with an ambitious move into a high-growth sector. It has an existing network of SME clients in China, a clear understanding of office workflows, and differentiated AI offerings that emphasize on-premise deployment and data security. Until recently, the business had a track record of positive earnings and cash generation, and leverage remains modest even after recent borrowing.
The most pressing risks are financial and execution-related. Revenue has been shrinking, profitability has collapsed into a substantial loss, and free cash flow has turned negative. Overhead costs surged just as R&D was cut back, suggesting that the cost structure and investment priorities are still being recalibrated. The company is relying more on external financing to support operations, and it must execute a challenging strategic pivot in a highly competitive AI landscape while under this financial strain.
The outlook is highly uncertain and depends on whether Eshallgo can stabilize its legacy business, bring its new AI products to meaningful scale, and restore cost discipline. Its strong starting balance sheet and access to financing provide some runway to pursue this transition, but the recent deterioration in earnings and cash flow indicates limited room for prolonged missteps. If the AI strategy gains traction and management reins in expenses, the financial profile could gradually improve; if not, the company may face increasing pressure on both its operations and balance sheet over time.
CEO
Qiwei Miao
Compensation Summary
(Year )
Ratings Snapshot
Rating : B-