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XTKG

X3 Holdings Co Ltd.

XTKG

X3 Holdings Co Ltd. • NASDAQ
$1.67 ▼ -15.66% (-0.31)
Market Cap $160.40 M
52w High $2.72
52w Low $0.53
Dividend Yield 0%
P/E -0.04
Volume 655.87K
Outstanding Shares 96.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $2.984M ▼ $19.056M ▼ $-16.382M ▲ -548.929% ▲ $-5.78 ▼ $-4.285M ▲
Q4-2024 $6.617M ▲ $74.117M ▲ $-65.75M ▼ -993.595% ▼ $-4.78 ▼ $-6.094M ▲
Q2-2024 $4.994M ▼ $13.907M ▼ $-10.487M ▲ -209.992% ▲ $-0.8 ▲ $-8.759M ▼
Q4-2023 $10.24M ▲ $66.081M ▲ $-52.135M ▲ -509.131% ▲ $-0.9 ▲ $-6.14M ▲
Q2-2023 $6.585M $59.48M $-57.463M -872.67% $-18.68 $-11.781M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $2.649M ▼ $71.731M ▼ $25.257M ▼ $42.618M ▼
Q4-2024 $4.194M ▲ $86.395M ▼ $36.488M ▲ $45.944M ▼
Q2-2024 $1.469M ▼ $171.26M ▼ $35.16M ▲ $125.452M ▼
Q4-2023 $2.992M ▼ $175.959M ▼ $31.938M ▼ $132.838M ▲
Q2-2023 $6.096M $202.021M $70.779M $107.527M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-16.382M ▲ $-1.871M ▼ $-54.172K ▲ $253.73K ▼ $0 $-1.897M ▼
Q4-2024 $-65.75M ▼ $103.352K ▲ $-215.544K ▲ $1.246M ▲ $0 $-14.88K ▲
Q2-2024 $-10.487M ▲ $-1.096M ▲ $-1.295M ▼ $930.802K ▼ $0 ▲ $-1.702M ▲
Q4-2023 $-52.135M ▲ $-4.134M ▲ $200K ▲ $2.497M ▼ $-690.046K ▲ $-4.343M ▲
Q2-2023 $-57.463M $-7.019M $-2.631M $6.792M $-3.285M $-7.489M

Five-Year Company Overview

Income Statement

Income Statement X3 Holdings is still very much a “story stage” company rather than a financially mature software business. Revenue over the past few years has been very small and inconsistent, while operating costs have been much higher than the income being generated. That has led to repeated annual losses and very weak profitability across all key lines. The pattern shows a business investing and experimenting across multiple areas without yet finding a stable, scalable profit engine. Losses have also not been narrowing in a steady way, which underlines execution and monetization challenges, not just early‑stage spending.

Balance Sheet

Balance Sheet The balance sheet is light and reflects a very small company with limited resources. Total assets are modest, cash has been thin and not improving, and there is a small layer of debt on top of a shrinking equity base. The company still has positive equity, which is a cushion, but that cushion has been eroded by repeated losses. Overall, X3 appears to have a constrained financial foundation, which could limit its flexibility to invest, expand, or withstand setbacks without raising new capital or taking on more obligations.

Cash Flow

Cash Flow Cash generation has been weak. Operating activities have tended to consume cash rather than produce it, indicating that the core business is not yet self‑funding. Free cash flow has generally been negative, although the actual investment in physical assets has been minimal, suggesting an asset‑light model focused more on software, projects, and partnerships than on heavy equipment. This means the company likely depends on external funding and careful cash management to keep executing its strategy. Sustained negative cash flow, even at a small scale, is a key risk if access to new capital becomes difficult.

Competitive Edge

Competitive Edge On paper, X3 Holdings sits at the crossroads of several attractive themes: digital trade platforms, crypto mining, agritech, renewables, and gaming. Its competitive idea is to link these areas in ways that reduce costs and create unique solutions, such as using crypto‑mining heat to support greenhouse agriculture or building specialized trade platforms for the semiconductor supply chain. This multi‑segment synergy is unusual and, if executed well, could be differentiating. However, the company is operating in very crowded and fast‑moving markets against larger, better‑funded players. Its small scale, limited financial strength, and history of volatility weaken its current competitive position; the moat today is more conceptual than firmly established.

Innovation and R&D

Innovation and R&D X3’s main strength lies in creativity and willingness to experiment. It is working with advanced technologies—AI, big data, blockchain, cloud, and 5G—across digital trade platforms, sustainable crypto mining, smart agriculture, renewable energy integration, and, more recently, gaming. The integrated concepts (like combining mining, renewables, and agriculture) are innovative and potentially offer both economic and environmental benefits. The acquisition of a gaming studio also shows a push into new digital content areas using AI‑enhanced tools. The main question is not whether X3 can generate ideas, but whether it can convert these ideas into stable, repeatable, and profitable business models at scale, given its limited financial resources and the complexity of managing so many fronts at once.

Summary

Overall, X3 Holdings is a highly experimental, multi‑segment technology company with a small financial base and a big vision. The financial statements show a business that has yet to demonstrate consistent revenue or profitability and that operates with tight cash and a gradually eroding equity position. At the same time, its strategy spans several promising themes—digital trade, crypto, agritech, renewables, and gaming—and relies on clever integration of these activities to create cost and efficiency advantages. The opportunity lies in the originality and potential synergy of its ideas; the key risks lie in scale, execution, funding needs, and the difficulty of competing in so many dynamic industries at once. Any future assessment will hinge on whether X3 can turn its diverse innovation pipeline into a focused, sustainable, and cash‑generating core business.