Logo

KNDI

Kandi Technologies Group, Inc.

KNDI

Kandi Technologies Group, Inc. • NASDAQ
$0.95 ▲ 0.76% (+0.01)
Market Cap $81.14 M
52w High $1.81
52w Low $0.89
Dividend Yield 0%
P/E -1.58
Volume 64.26K
Outstanding Shares 85.42M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $18.145M $9.159M $862K 4.75% $0.01 $1.99M
Q1-2025 $18.145M ▼ $9.159M ▼ $862K ▲ 4.75% ▲ $0.01 ▲ $1.99M ▲
Q4-2024 $37.8M ▲ $68.627M ▲ $-48.7M ▼ -128.836% ▼ $-0.59 ▼ $-51.79M ▼
Q3-2024 $29.945M ▼ $16.104M ▲ $-4.111M ▼ -13.729% ▼ $-0.05 ▼ $0 ▼
Q2-2024 $39.15M $13.109M $1.673M 4.273% $0.019 $2.496M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $185.733M $443.347M $87.395M $354.05M
Q1-2025 $185.733M ▲ $443.347M ▼ $87.395M ▼ $354.05M ▲
Q4-2024 $42.789M ▼ $473.897M ▼ $127.267M ▼ $344.699M ▼
Q3-2024 $94.16M ▼ $542.209M ▲ $132.657M ▲ $407.172M ▲
Q2-2024 $118.645M $493.437M $96.5M $394.491M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $862K $0 $0 $0 $0 $0
Q1-2025 $862K ▲ $0 $0 $0 $0 $0
Q4-2024 $-48.7M ▼ $0 $0 $0 $0 $0
Q3-2024 $-4.111M ▼ $0 $0 $0 $0 $0
Q2-2024 $1.673M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Revenue has been edging up over the past few years, but the company is still small in scale and has not converted this into steady profits. Gross profit has improved, showing that the basic economics of making and selling its products are getting better. However, overhead and other operating costs are high enough that operating income has slipped back into losses recently. Net results have bounced between small profits and losses, which signals an uneven, stop‑and‑go earnings profile rather than a stable, predictable one.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid but is moving in a less comfortable direction. Total assets have been fairly stable, and equity still represents a large share of the capital structure, which is a positive sign of solvency. On the other hand, the cash cushion has shrunk over time and debt has increased from almost nothing to a more noticeable level. The company has moved from a net cash position toward using leverage, which is not alarming on its own but does reduce financial flexibility if business conditions weaken.

Cash Flow

Cash Flow Cash generation is inconsistent. Operating cash flow has swung between positive and negative, with recent years showing cash outflows rather than inflows from the core business. Free cash flow has likewise been negative lately, meaning the company is not currently funding itself purely from its operations and must lean on existing cash or financing. Investment spending has been relatively modest, so the main issue is not heavy capital projects, but the underlying profitability and working capital demands of the business.

Competitive Edge

Competitive Edge Kandi occupies a niche rather than a broad leadership role in autos. In China, its partnership with a leading battery maker for battery‑swapping stations gives it a strategic foothold in EV infrastructure, which is a differentiated angle compared with standard EV manufacturers. In North America, it competes as a value player in off‑road electric vehicles, targeting price‑sensitive buyers through retail partners instead of premium brand positioning. These niches offer room to grow, but the company faces intense competition from much larger, better‑known brands, and its past controversies mean it must work harder to build trust and visibility.

Innovation and R&D

Innovation and R&D The company is leaning heavily on innovation to stand out. It has invested in battery‑swapping technology, automation for swap stations, and a suite of off‑road EV designs tailored to specific user needs. New moves into AI, robotics, and smart mobility suggest a desire to build a broader technology platform, and planned battery and vehicle production in the US points to an ambitious roadmap. The upside is significant optionality if these projects gain traction, but many of them are early‑stage and will likely require sustained spending before they contribute meaningfully to profits.

Summary

Overall, Kandi is a small, innovation‑driven company at an inflection point. It has carved out interesting positions in battery‑swap infrastructure and affordable off‑road EVs, backed by a major Chinese battery partner and government policy tailwinds at home. At the same time, the financial picture shows modest scale, uneven profitability, negative recent cash flows, and a trend toward using more debt and less cash buffer. Future performance will hinge on execution: turning its technology and partnerships into durable, cash‑generative business lines while managing competition, capital needs, and lingering credibility concerns. The opportunity is meaningful but comes with elevated operational and financial uncertainty.

NEWS

November 4, 2025 · 8:35 AM UTC

Kandi Unveils Intelligent Delivery Robot Dog Solution, Advancing the Future of Smart Logistics

Read more