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LGCL

Lucas GC Limited Ordinary Shares

LGCL

Lucas GC Limited Ordinary Shares • NASDAQ
$2.63 ▲ 10.50% (+0.25)
Market Cap $7.35 M
52w High $50.80
52w Low $2.01
Dividend Yield 0%
P/E -0.03
Volume 5.34K
Outstanding Shares 2.79M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $457.891M ▼ $179.481M ▲ $-13.741M ▼ -3.001% ▼ $-7.2 ▼ $-18.466M ▼
Q2-2024 $605.518M ▼ $149.91M ▼ $53.53M ▲ 8.84% ▲ $27.6 ▲ $55.324M ▲
Q4-2023 $653.886M ▼ $169.094M ▼ $24.373M ▼ 3.727% ▼ $12.4 ▼ $18.876M ▼
Q2-2023 $820.072M ▲ $179.201M ▲ $53.295M ▲ 6.499% ▲ $27.2 ▲ $53.148M ▲
Q4-2022 $463.806M $105.795M $16.582M 3.575% $8.8 $15.664M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $33.183M ▼ $403.252M ▼ $137.674M ▲ $262.833M ▼
Q2-2024 $51.513M ▲ $413.369M ▲ $133.71M ▲ $276.812M ▲
Q4-2023 $30.123M ▼ $291.822M ▼ $95.23M ▼ $194.143M ▲
Q2-2023 $52.571M ▲ $375.051M ▲ $202.943M ▲ $169.775M ▲
Q4-2022 $48.477M $241.252M $123.459M $115.857M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $-13.445M ▼ $20.186M ▲ $-79.948M ▼ $60.746M ▲ $31.661M ▲ $-56.982M ▼
Q2-2024 $53.53M ▲ $0 ▲ $0 ▲ $0 ▼ $0 ▲ $0 ▲
Q4-2023 $24.373M ▼ $-21.913M ▼ $-12.097M ▼ $11.68M ▼ $-11.172M ▼ $-34.014M ▼
Q2-2023 $53.295M ▲ $-14.495M ▼ $0 ▼ $17.742M ▲ $1.627M ▼ $-14.495M ▼
Q4-2022 $17.736M $8.018M $9.121M $3.418M $10.289M $-5.708M

Five-Year Company Overview

Income Statement

Income Statement LGCL looks like a young software platform that has already crossed into profitability, which is a positive sign. Revenue has grown meaningfully over the past few years, though the most recent year shows a step back from the prior peak, suggesting some volatility rather than a smooth upward path. Despite being small in absolute scale, the business has been able to keep operating and net profits in the black for several years, with generally healthy margins for a niche technology platform. Earnings per share have swung around quite a bit, which reflects both the small base of the business and the early‑stage nature of its growth. Overall, the income statement points to a company that has found a workable business model, but is still in a phase where growth and profitability can fluctuate from year to year.

Balance Sheet

Balance Sheet The balance sheet has strengthened quickly from a very small base. Total assets and shareholders’ equity have risen steadily, which indicates the company is building up its resource base and retaining value in the business. Debt has increased but remains moderate relative to equity, suggesting the company is using some leverage without being heavily reliant on borrowing. Cash on hand is present but not large, so while the company is not cash‑rich, it does have some liquidity buffer. Overall, the balance sheet profile is that of a small but maturing tech company: improving capital base, manageable leverage, and room to invest, but not a fortress balance sheet.

Cash Flow

Cash Flow Cash flows tell a more cautious story than the income statement. Operating cash flow has been positive in most years but has also dipped into negative territory, showing that cash generation is not yet consistently aligned with reported profits. Free cash flow has been negative recently, largely because the company is spending more on capital investments. That pattern is typical for a growth‑oriented technology firm building out its platforms and infrastructure, but it also means the business may continue to lean on external funding or its balance sheet to support expansion. The key watchpoint is whether operating cash flow becomes steadily positive and begins to comfortably cover ongoing investment needs.

Competitive Edge

Competitive Edge LGCL’s competitive position rests on a mix of advanced AI technology, a very large network of independent “agents,” and a data advantage built over several years. Its agent‑centric model is structurally lighter and more scalable than traditional recruitment firms, allowing the platform to expand reach without matching it with a big salaried sales force. The size of the agent network and the depth of proprietary data create network effects and switching costs, which together form a meaningful moat in its niche. At the same time, the company operates in a crowded and fast‑moving space where global and local recruitment platforms, job boards, and enterprise software providers are all potential competitors. Its advantage depends on keeping agents engaged, maintaining AI performance, and successfully extending the model into new industries and geographies, all of which carry execution and regulatory risks.

Innovation and R&D

Innovation and R&D Innovation is clearly at the center of LGCL’s strategy. The company is investing a sizable share of its revenue into R&D, building AI‑driven platforms that use generative models, advanced matching algorithms, and emotion/sentiment analysis. A growing patent portfolio in both China and the U.S. suggests real technical depth and an effort to protect its intellectual property. The platforms are not limited to recruitment: management is already exploring applications in areas like insurance and wealth management, which could broaden the business over time. The flip side is that heavy R&D spending must eventually translate into scalable, profitable products; the AI and HR tech fields are evolving quickly, and competitors can also innovate. The value of this innovation pipeline will depend on LGCL’s ability to turn patents and prototypes into widely adopted commercial offerings.

Summary

LGCL comes across as a small but rapidly professionalizing AI‑driven software company that has already reached recurring profitability, yet still shows the lumpiness typical of an early‑stage growth story. Its income statement highlights a proven ability to earn money, while the balance sheet reflects a much stronger position than just a few years ago, with growing equity and only moderate use of debt. Cash flows are the main area to watch, as ongoing investments keep free cash flow negative and make the business more sensitive to funding conditions. Strategically, LGCL’s agent‑centric network, data assets, and AI capabilities provide a credible competitive moat in human capital management, with the potential to extend into adjacent sectors. Future performance will hinge on consistent cash generation, successful expansion beyond its core market, and continued execution in turning its innovation engine into durable, diversified revenue streams.

NEWS

October 31, 2025 · 5:00 PM UTC

Lucas GC Limited Announces 1H 2025 Financial Results: Revenue at US$54.01 million with Increases in Gross Margin

Read more

October 9, 2025 · 9:00 AM UTC

Lucas GC Limited Announces Effective Date of Share Consolidation and Dual-Class Share Structure

Read more