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SAIH

SAIHEAT Limited

SAIH

SAIHEAT Limited • NASDAQ
$7.33 ▲ 0.96% (+0.07)
Market Cap $78.32 M
52w High $16.05
52w Low $3.00
Dividend Yield 0%
P/E -1.91
Volume 3
Outstanding Shares 10.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2022 $-114K ▼ $4.253M ▼ $-4.651M ▼ 4.08K% ▲ $-3.94 ▼ $-764.672K ▲
Q2-2022 $10.752M ▲ $4.352M ▲ $-4.194M ▼ -39.003% ▼ $-2.78 ▼ $-3.928M ▼
Q1-2022 $0 $635.836K ▼ $-632.172K ▲ 0% $-1.62 ▲ $-632.172K ▲
Q4-2021 $0 $1.346M ▲ $-1.345M ▼ 0% $-3.46 ▼ $-1.345M ▼
Q3-2021 $0 $552.535K $-551.845K 0% $-1.42 $-551.845K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $1.058M ▼ $18.534M ▲ $4.168M ▲ $14.366M ▼
Q2-2024 $1.896M ▼ $17.584M ▼ $1.993M ▲ $15.591M ▼
Q4-2023 $3.257M ▼ $18.075M ▼ $1.256M ▼ $16.819M ▼
Q2-2023 $12.173M ▲ $20.687M ▼ $2.4M ▲ $18.287M ▼
Q4-2022 $11.227M $21.1M $786K $20.314M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2021 $-551.845K $-624.443K $0 $-28K $0 $-624.44K
Q3-2021 $-551.845K ▼ $-624.443K ▼ $0 ▲ $-28K ▼ $0 $-624.44K ▼
Q2-2021 $-22.549K $-41.663K $-44.89M $45.594M $0 $-41.66K

Five-Year Company Overview

Income Statement

Income Statement SAIHEAT looks more like an early‑stage technology platform than a mature operating business. Reported revenue over the last several years has been tiny and largely flat, so the company is effectively still pre‑scale commercially. Operating and net results have been consistently negative, reflecting ongoing costs to run and develop the business without meaningful sales to offset them. The very sharp swings in reported earnings per share are driven mostly by capital structure changes (including a large reverse split), not by real shifts in underlying profitability. Overall, the income statement shows a company still in the investment and build‑out phase rather than one generating sustainable earnings.

Balance Sheet

Balance Sheet The balance sheet is small and simple. Total assets are modest, with a limited cash position and no meaningful debt, which reduces financial leverage risk but also suggests a thin financial cushion. Shareholders’ equity is positive but has drifted down, indicating that losses are slowly eroding the capital base. The company appears to rely primarily on equity rather than borrowing to fund itself, which is typical for an early‑stage tech and infrastructure play. However, the small scale of the balance sheet means that access to future external funding will likely be important if the company wants to pursue its ambitious projects.

Cash Flow

Cash Flow Cash generation from the core business has been weak to slightly negative, consistent with a company that has not yet reached commercial scale. Free cash flow has been negative for several years, indicating that operating outflows and investment needs are not yet being covered by the business itself. Capital spending has occurred but not at a heavy industrial level yet; it looks more like targeted investment to build out capabilities and pilot deployments. Overall, the cash flow profile points to dependence on outside capital to bridge the gap between today’s small operations and the longer‑term infrastructure vision.

Competitive Edge

Competitive Edge Strategically, SAIHEAT is trying to occupy a specialized niche at the intersection of high‑performance computing, Bitcoin mining, AI workloads, and sustainable energy. Its focus on liquid cooling, waste‑heat recovery, and integrated data‑center solutions gives it a differentiated story versus traditional data‑center or mining‑equipment providers. Patented heat‑recovery technology, a strong sustainability angle, and early moves into nuclear‑powered computing centers (via SMR concepts) could provide a moat if they gain traction. That said, the company is very small, operating in markets with powerful, well‑funded incumbents in data‑centers, cooling, and energy. Execution risk, customer adoption, and regulatory hurdles (especially around nuclear) are all key uncertainties for its competitive position.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of SAIHEAT’s identity. It has developed proprietary liquid‑cooling systems, a patented waste‑heat recovery approach, and modular hardware platforms aimed at both AI and Bitcoin mining. The HEATWIT and HEATNUC platforms, the open‑source SMR initiative, and long‑horizon concepts like OrbitBTC all point to a company thinking far ahead about how computing and energy might converge. At the same time, many of these initiatives are still conceptual or in early commercialization phases. With a small financial base, SAIHEAT will likely need partnerships, licensing, and careful capital allocation to turn this R&D pipeline into proven, revenue‑generating products at scale.

Summary

Financially, SAIHEAT is at an early, high‑uncertainty stage: minimal revenue, ongoing losses, a small but debt‑free balance sheet, and negative free cash flow. The near‑term picture is one of a company investing ahead of revenue in a bid to establish itself in a specialized, sustainability‑focused corner of high‑performance computing. Strategically and technologically, the story is much more ambitious, centered on advanced cooling, heat recycling, and eventually modular nuclear power for AI and crypto infrastructure. The gap between the current financial footprint and the long‑term vision is large, so future outcomes will hinge on the company’s ability to secure capital, navigate regulation, convert its patents and concepts into practical deployments, and win meaningful customers in competitive, fast‑moving markets.