Tearsheet

Next Technology (NXTT)

Market Price (12/25/2025): $6.88 | Market Cap: $16.9 Mil
Sector: Information Technology | Industry: Application Software

Next Technology (NXTT)

Market Price (12/25/2025): $6.88
Market Cap: $16.9 Mil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 1788%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 1783%, FCF Yield is 22%	Weak multi-year price returns 2Y Excs Rtn is -147%, 3Y Excs Rtn is -182%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -44 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1221%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -61%		High stock price volatility Vol 12M is 715%
2	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 259%		Key risks NXTT key risks include [1] a heavy reliance on volatile cryptocurrency holdings driven by significant operational deficiencies, Show more.
3	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 102%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 102%
4	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -99%
5	Megatrend and thematic drivers Megatrends include Artificial Intelligence, and Autonomous Technologies. Themes include AI Chips, Edge AI, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 1788%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 1783%, FCF Yield is 22%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -61%
2	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 259%
3	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 102%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 102%
4	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -99%
5	Megatrend and thematic drivers Megatrends include Artificial Intelligence, and Autonomous Technologies. Themes include AI Chips, Edge AI, Show more.
6	Weak multi-year price returns 2Y Excs Rtn is -147%, 3Y Excs Rtn is -182%
7	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -44 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1221%
8	High stock price volatility Vol 12M is 715%
9	Key risks NXTT key risks include [1] a heavy reliance on volatile cryptocurrency holdings driven by significant operational deficiencies, Show more.

Valuation, Metrics & Events

	12/25/25	2024	2023	2022	2021
Share Price CYE	$6.88	$488.00	$770.00	$12,580.00	$148,000.00
Market Cap CYE ($ Mil)	16.9	16.8	10.1	66.2	1,221.7
Total Debt ($ Mil)	2.0	0.8	0.0	0.0	2.5
Total Cash ($ Mil)	12.4	0.7	0.7	0.0	0.6
Enterprise Value ($ Mil)	6.6	17.6	10.1	66.2	1,224.2
Valuation Ratios
P/S TTM	4.7	7.8	2.4	-	85.0
P/EBIT TTM	-0.4	-838.6	-4.8	-11.2	203.8
P/E TTM	0.1	0.7	-0.6	-8.3	236.1
P/FCF TTM	4.6	-	0.3	-2.0	-292.9
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6	4.6
P/EBIT TTM (Sector)	3.0	2.3	-0.2	-0.7	-0.0
P/E TTM (Sector)	-0.2	-0.3	-0.5	-0.8	-0.0
P/FCF TTM (Sector)	12.3	13.7	12.2	6.9	13.8

	12/25/25	2024	2023
Share Price CYE	$6.88	$488.00	$770.00
Market Cap CYE ($ Mil)	16.9	16.8	10.1
Total Debt ($ Mil)	2.0	0.8	0.0
Total Cash ($ Mil)	12.4	0.7	0.7
Enterprise Value ($ Mil)	6.6	17.6	10.1
Valuation Ratios
P/S TTM	4.7	7.8	2.4
P/EBIT TTM	-0.4	-838.6	-4.8
P/E TTM	0.1	0.7	-0.6
P/FCF TTM	4.6	-	0.3
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9
P/EBIT TTM (Sector)	3.0	2.3	-0.2
P/E TTM (Sector)	-0.2	-0.3	-0.5
P/FCF TTM (Sector)	12.3	13.7	12.2

	NXTT	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.0
Rev Chg Q	�	7.3%
Rev Chg LTM	258.8%	6.1%
Rev Chg 3Y Avg	49.3%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	0.0
Net Inc LTM ($ Bil)	0.3
Op Mgn LTM	-1,220.8%	18.8%
CFO/Rev LTM	102.0%	20.4%
Net Inc Mgn	8,435.3%	13.1%
VALUATION	LOW
P/S	4.7	3.2
P/CFO	4.6	15.7
P/FCF	4.6	20.6
P/E	0.1	23.5
STABILITY	GOOD
Debt/Equity	0.12	0.21
Cash/Assets	0.02	0.07

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Metric

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NXTT Stock

Return (1M):

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Why The Stock Moved

Qualitative Assessment

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Next Technology (NXTT) experienced a significant stock decline between August 31, 2025, and December 25, 2025, driven by several critical developments:

1. Nasdaq Delisting Threat: Next Technology faced a delisting threat from Nasdaq, publicly announced on August 29, 2025, which continued to impact the stock into the specified period. Nasdaq cited the company's status as a "public shell" with halted operations in China and zero reported revenue, leading to a substantial initial plunge and ongoing investor anxiety.

2. Reverse Stock Split: On September 11, 2025, Next Technology announced a one-for-two hundred (1-200) reverse stock split, which became effective on September 16, 2025. This action, often taken by companies to meet minimum share price requirements to avoid delisting, typically signals severe underlying issues and led to a further decline, with shares plummeting more than 40% in post-market trading on the news.

Show more Next Technology (NXTT) experienced a significant stock decline between August 31, 2025, and December 25, 2025, driven by several critical developments:

1. Nasdaq Delisting Threat: Next Technology faced a delisting threat from Nasdaq, publicly announced on August 29, 2025, which continued to impact the stock into the specified period. Nasdaq cited the company's status as a "public shell" with halted operations in China and zero reported revenue, leading to a substantial initial plunge and ongoing investor anxiety.

2. Reverse Stock Split: On September 11, 2025, Next Technology announced a one-for-two hundred (1-200) reverse stock split, which became effective on September 16, 2025. This action, often taken by companies to meet minimum share price requirements to avoid delisting, typically signals severe underlying issues and led to a further decline, with shares plummeting more than 40% in post-market trading on the news.

3. Registered Direct Offering: Next Technology completed a registered direct offering on September 2, 2025, raising approximately $9 million by selling 60 million shares of common stock at $0.15 per share. While providing capital, the issuance of a large number of shares at a very low price led to significant dilution for existing shareholders, exacerbating downward pressure on the stock.

4. Lack of Active Operations and Revenue: A fundamental concern highlighted by Nasdaq's delisting threat was NXTT's cessation of all operations in China by June 2024 and reporting zero revenue in 2025, with only six employees as of March 2025. This indicated a severe lack of active business operations and viability, undermining investor confidence.

5. Dropped from S&P Global BMI Index: Next Technology Holding Inc. was dropped from the S&P Global BMI Index on December 21, 2025. This removal from a major market index can trigger further selling by institutional investors and index-tracking funds, contributing to continued stock depreciation. Show less

Stock Movement Drivers

Fundamental Drivers

The -70.6% change in NXTT stock from 9/24/2025 to 12/24/2025 was primarily driven by a -64.8% change in the company's P/E Multiple.

	9242025	12242025	Change
Stock Price ($)	23.39	6.88	-70.59%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1.80	3.59	99.34%
Net Income Margin (%)	17830.29%	8435.26%	-52.69%
P/E Multiple	0.16	0.06	-64.81%
Shares Outstanding (Mil)	2.18	2.46	-12.82%
Cumulative Contribution			-71.07%

LTM = Last Twelve Months as of date shown

Market Drivers

9/24/2025 to 12/24/2025

	Return	Correlation
NXTT	-70.6%
Market (SPY)	4.4%	19.0%
Sector (XLK)	5.1%	23.4%

Fundamental Drivers

The -98.6% change in NXTT stock from 6/25/2025 to 12/24/2025 was primarily driven by a -404.3% change in the company's Shares Outstanding (Mil).

	6252025	12242025	Change
Stock Price ($)	506.00	6.88	-98.64%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1.80	3.59	99.34%
Net Income Margin (%)	10857.97%	8435.26%	-22.31%
P/E Multiple	1.26	0.06	-95.57%
Shares Outstanding (Mil)	0.49	2.46	-404.29%
Cumulative Contribution			-120.86%

LTM = Last Twelve Months as of date shown

Market Drivers

6/25/2025 to 12/24/2025

	Return	Correlation
NXTT	-98.6%
Market (SPY)	14.0%	7.7%
Sector (XLK)	17.5%	5.2%

Fundamental Drivers

The -98.3% change in NXTT stock from 12/24/2024 to 12/24/2025 was primarily driven by a -6955.3% change in the company's Shares Outstanding (Mil).

	12242024	12242025	Change
Stock Price ($)	410.88	6.88	-98.33%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1.00	3.59	258.82%
Net Income Margin (%)	1933.93%	8435.26%	336.17%
P/E Multiple	0.74	0.06	-92.45%
Shares Outstanding (Mil)	0.03	2.46	-6955.27%
Cumulative Contribution			-8198.62%

LTM = Last Twelve Months as of date shown

Market Drivers

12/24/2024 to 12/24/2025

	Return	Correlation
NXTT	-98.3%
Market (SPY)	15.8%	2.4%
Sector (XLK)	22.2%	2.8%

Fundamental Drivers

The -99.9% change in NXTT stock from 12/25/2022 to 12/24/2025 was primarily driven by a -47145.5% change in the company's Shares Outstanding (Mil).

	12252022	12242025	Change
Stock Price ($)	10693.00	6.88	-99.94%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	6.71	3.59	-46.52%
P/S Multiple	8.30	4.72	-43.16%
Shares Outstanding (Mil)	0.01	2.46	-47145.50%
Cumulative Contribution			-14401.03%

LTM = Last Twelve Months as of date shown

Market Drivers

12/25/2023 to 12/24/2025

	Return	Correlation
NXTT	-99.1%
Market (SPY)	48.9%	3.0%
Sector (XLK)	54.1%	3.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
NXTT Return	�	-34%	-92%	-94%	-37%	-99%	-100%
Peers Return	�	�	-82%	361%	75%	1%	�
S&P 500 Return	16%	27%	-19%	24%	23%	18%	115%
Monthly Win Rates [3]
NXTT Win Rate	60%	50%	42%	42%	50%	17%
Peers Win Rate	�	52%	30%	70%	47%	57%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
NXTT Max Drawdown	�	-71%	-94%	-95%	-74%	-99%
Peers Max Drawdown	�	�	-84%	-1%	-39%	-39%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: COIN, MSTR, MARA, RIOT, SHOP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)

How Low Can It Go

Unique Key	Event	NXTT	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-99.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	126214.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-68.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	217.6%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	575 days	148 days

Compare to ADSK, HIT, BMR, BTTC, CCC

In The Past

Next Technology's stock fell -99.9% during the 2022 Inflation Shock from a high on 8/5/2022. A -99.9% loss requires a 126214.6% gain to breakeven.

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About Next Technology (NXTT)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Next Technology Holding Inc. provides technical services and solutions through its social e-commerce platform primarily in Mainland China. It offers YCloud, a micro-business cloud intelligent internationalization system that conducts multi-channel data analysis through the learning of big data and social recommendation relationships, as well as provides users with AI fission and management systems, and supply chain systems. The company's YCloud system also provides micro-business owners with various payment methods, such as Alipay, WeChat, and UnionPay. In addition, it offers chatGPT technical services; and technical system support, software development, and services. The company serves individual and corporate users in the micro business industry. It also has operations in Hong Kong and Singapore. The company was formerly known as WeTrade Group, Inc. and changed its name to Next Technology Holding Inc in April 2024. Next Technology Holding Inc. was incorporated in 2019 and is headquartered in Beijing, the People Republic of China.

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Here are 1-2 brief analogies to describe Next Technology (NXTT):

1. The Canadian EnerSys for industrial power components.
2. A specialized Eaton for industrial batteries and power supplies.

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I am unable to identify a major public company with the name "Next Technology" that trades under the stock symbol "NXTT" on major stock exchanges. It is possible that the company name or symbol provided is incorrect, refers to a private entity, or a company listed on a less common exchange. Without a verifiable public company, I cannot accurately identify and categorize its major products or services. Please double-check the company name and ticker symbol.

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Information regarding the major customers of "Next Technology" (symbol: NXTT) could not be definitively identified. A publicly traded company matching this specific name and stock symbol does not appear in standard financial databases or company registries.

Without verifiable information about its existence as a public company, its products, services, and business model, it is not possible to determine whether it primarily sells to other companies (B2B) or individuals (B2C), nor to identify specific customers or customer categories as requested.

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Weihong Liu, Chief Executive Officer
Mr. Weihong Liu has more than 6 years of investment and research experience in the fields of crypto assets and blockchain technology. He has conducted in-depth analysis and strategic layout of potential investment opportunities in crypto assets. Mr. Liu also has innovative business plans in high-tech and rapidly growing artificial intelligence generated content businesses.

Eve Chan, Chief Financial Officer
Ms. Eve Chan was appointed as Chief Financial Officer effective October 21, 2024. She is a member of Certified Public Accountants Australia with over 15 years of experience in accounting, audit, and corporate roles across various industries and countries, including the USA, Hong Kong, and Singapore. Her background includes experience in BTC mining, property development, property management, investment companies, general trading, and manufacturing. From August 2018 to October 2022, Ms. Chan served as Assistant Vice President at RHB Investment Bank Limited, advising on corporate restructuring for private and public companies. From November 2022 to September 2024, she was Financial Controller at X Capital Investment PTE. LTD.

Lichen Dong, Director, Chairman of the Board
Mr. Lichen Dong possesses 15 years of work experience in investment, mergers and acquisitions, and finance, covering corporate governance, fundraising, financial analysis, mergers and acquisitions, and complex international architecture construction. He served as a senior consultant for Future Dao Group from 2022 to 2023, focusing on research and development of blockchain technology, clean energy application strategies, corporate governance, and capital restructuring and listing. Mr. Dong also worked at Hanergy Holding Group and Jinko Power Group, specializing in the development and management of renewable energy and power generation assets. He has established various innovative investment models in the new energy industry.

Jianbo Sun, Director
Mr. Jianbo Sun is an entrepreneur, venture capitalist, and philanthropist with 16 years of experience in establishing, investing in, and operating the intelligent manufacturing industry. Since February 2012, he has served as the President of Orejia Group Co Limited, where he is responsible for strategic planning, industrial investment, and financial financing, demonstrating successful experience in business trend judgment, enterprise management, and capital operation.

Mahesh Thapaliya, Director
Mr. Mahesh Thapaliya has over 12 years of international business work experience. Since 2020, he has served as the Business Director of One World Corporations, involving business cooperation around key international projects in infrastructure, energy, industrial investment, art and culture, trade, and investment. From 2013 to 2020, Mr. Mahesh worked for Banner Electric Co. Ltd.

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The key risks to Next Technology (symbol: NXTT) are primarily centered around its heavy reliance on the volatile cryptocurrency market, significant operational deficiencies in its core business, and ongoing issues with shareholder dilution and regulatory compliance.

Over-reliance on Volatile Cryptocurrency Market: Next Technology's financial performance and profitability are overwhelmingly dependent on its Bitcoin holdings. The company's net income has been largely driven by fair value gains from digital assets, with minimal to zero service revenue reported in recent periods. This strategy exposes NXTT to extreme financial instability and stock price volatility, as its valuation is heavily tied to the unpredictable fluctuations of the cryptocurrency market.
Lack of Sustainable Operations and "Public Shell" Status: Despite marketing itself as an AI-enabled software development company, Next Technology struggles to generate substantial revenue from these services. This operational deficiency, including reporting "zero service revenue" in recent quarters, has led Nasdaq to deem the company a "public shell". This designation carries a significant risk of delisting, which would severely impact the company's access to capital markets and its ability to operate as a public entity. The company also operates with a very limited number of employees, raising questions about its capacity for sustainable growth and competitive differentiation.
Shareholder Dilution and Regulatory Non-Compliance: Next Technology has frequently issued new shares and warrants to raise capital, leading to substantial dilution for existing shareholders. Additionally, the company has faced recurring challenges with Nasdaq listing requirements, including failing to maintain a minimum share price and submitting incomplete or unaudited financial statements. These compliance issues not only undermine investor confidence but also pose a continuous threat of delisting from the stock exchange.

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Next Technology (NXTT) is anticipated to drive future revenue growth over the next two to three years through several key strategies:

Expansion of AI-enabled Software Development and SaaS Solutions: Next Technology is committed to delivering AI-enabled software development services, including the design, development, and implementation of various SaaS solutions for businesses across different sectors. The company further demonstrated this commitment with a comprehensive AI SaaS platform upgrade, including DeepSeek integration, in January 2025, indicating ongoing investment and innovation in this area.
Strategic Bitcoin Acquisitions and Digital Asset Appreciation: A significant driver of Next Technology's recent financial performance has been its strategic acquisition and holding of Bitcoin. The company's net income surged in Q1 2025, primarily due to substantial gains from digital assets, and Q2 2025 results were also significantly influenced by growth in Bitcoin holdings. Next Technology views Bitcoin as a long-term holding offering potential appreciation and a hedge against inflation. The company's total Bitcoin holdings increased considerably in the first half of 2025.
High-Profile Partnerships and Emerging Market Investments: Next Technology has focused on adapting to market demands through innovative strategies, including fostering high-profile partnerships to spur technological advancements and bolster its competitive position. The company is also making notable investments in emerging market segments, which are expected to contribute to sustained growth.

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Share Repurchases

Next Technology's board approved a $150 million share repurchase program.

Share Issuance

Next Technology Holding Inc. completed a registered direct offering of 60 million shares at $0.15 per share, raising approximately $9 million in gross proceeds around September 3, 2025.
On October 31, 2025, Next Technology Holding (NXTT) filed a shelf registration statement to offer up to $500,000,000 of common shares.

Outbound Investments

In the first half of 2025, Next Technology Holding Inc. acquired 5,000 Bitcoin.
This acquisition was partly funded by the issuance of 135,171,078 shares of common stock, warrants to purchase 294,117,647 shares, and $12,125,500 in cash.
The company's strategy includes the acquisition and long-term holding of Bitcoin.

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		Best Bets In Information Technology Sector
	NXTT	VRSN	IDCC	NVDA	RMBS	GEN	ZM	DBX	YOU	MPWR	DAVE
What You Pay
P/E	0.1	28.3	17.1	46.3	44.4	29.9	16.4	14.6	19.2	24.1	21.0
P/EBIT	-0.4	20.4	13.8	39.4	37.9	10.6	23.9	11.9	20.9	66.0	24.0
What You Get
Rev Chg Q	�	7.3%	28.0%	62.5%	22.7%	25.3%	4.4%	-0.7%	15.5%	18.9%	63.0%
Rev Chg LTM	258.8%	5.5%	28.8%	65.2%	31.0%	16.2%	3.8%	-0.4%	17.8%	30.5%	53.8%
Rev Chg 3Y Avg	49.3%	5.2%	27.1%	91.6%	17.3%	16.5%	3.4%	3.4%	31.0%	17.2%	38.6%
FCF/Rev 3Y Avg	540.9%	57.4%	54.2%	43.4%	39.3%	36.7%	36.1%	33.4%	32.5%	28.6%	26.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Next Technology Stock 13-Day Losing Spree: Stock Falls 61%	Notification
2	Next Technology Stock 11-Day Losing Spree: Stock Falls 59%	Notification
3	Next Technology Stock 12-Day Losing Spree: Stock Falls -60%	Notification
4	Next Technology Stock Slides -52% With A 10-Day Losing Spree	Notification
5	Would You Still Hold Next Technology Stock If It Fell Another 30%?	Return

	Title
0	ARTICLES

Trade Ideas

Select ideas related to NXTT. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	13.9%	13.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	12.0%	12.0%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	17.0%	17.0%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	11.9%	11.9%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	4.1%	4.1%	0.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
OMER	Omeros	0.9	75.5%	55.5%
DVAX	Dynavax Technologies	1.8	38.2%	20.4%
EWTX	Edgewise Therapeutics	2.9	25.5%	2.2%
AGIO	Agios Pharmaceuticals	1.7	18.6%	-11.2%
TVTX	Travere Therapeutics	3.6	13.9%	131.2%
KOD	Kodiak Sciences	1.6	13.2%	212.4%
RZLT	Rezolute	0.3	13.2%	-44.1%
UP	Wheels Up Experience	0.5	11.7%	-57.4%
FBYD	Falcons Beyond Global	0.7	9.5%	129.7%
BW	Babcock & Wilcox Enterprises	0.5	8.5%	226.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ASTS	AST SpaceMobile	18.9	-8.9%	269.9%
QBTS	D-Wave Quantum	9.4	-5.5%	227.6%
NNE	Nano Nuclear Energy	1.2	-4.6%	21.7%
MNMD	Mind Medicine	1.2	-4.2%	93.0%
PPTA	Perpetua Resources	2.0	-4.0%	149.1%
KOS	Kosmos Energy	0.4	-4.0%	-73.6%
FRMI	Fermi	5.5	-4.0%	-75.7%
EXOD	Exodus Movement	0.4	-3.9%	-50.5%
TLRY	Tilray Brands	10.8	-3.6%	-23.7%
AEHR	Aehr Test Systems	0.7	-3.1%	32.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	74.0%	55.5%
LUNR	Intuitive Machines	2.0	63.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	51.1%	11.2%
FBYD	Falcons Beyond Global	0.7	47.2%	129.7%
FLY	Firefly Aerospace	3.8	45.9%	-55.2%
RKLB	Rocket Lab	39.8	43.0%	203.0%
DVAX	Dynavax Technologies	1.8	42.5%	20.4%
UAMY	United States Antimony	0.8	39.9%	258.8%
DJT	Trump Media & Technology	4.0	36.7%	-58.0%
RZLT	Rezolute	0.3	36.3%	-44.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	31.7	-80.5%	-28.0%
TPL	Texas Pacific Land	6.8	-66.5%	-19.2%
LW	Lamb Weston	6.0	-28.6%	-34.8%
TLRY	Tilray Brands	10.8	-21.2%	-23.7%
INSP	Inspire Medical Systems	2.8	-19.1%	-48.4%
TDUP	ThredUp	0.8	-17.1%	354.7%
OLMA	Olema Pharmaceuticals	2.3	-15.8%	370.8%
IIPR	Innovative Industrial Properties	1.4	-12.9%	-15.7%
ABM	ABM Industries	2.6	-12.6%	-15.8%
FRMI	Fermi	5.5	-12.6%	-75.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	3.0	144.6%	47.5%
TE	T1 Energy	1.1	124.5%	418.4%
ANF	Abercrombie & Fitch	6.0	93.2%	-15.2%
VERA	Vera Therapeutics	3.6	90.4%	31.6%
LUNR	Intuitive Machines	2.0	85.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	82.5%	11.2%
RKLB	Rocket Lab	39.8	81.8%	203.0%
PL	Planet Labs PBC	6.2	76.1%	403.0%
NRGV	Energy Vault	0.8	66.9%	118.9%
FLY	Firefly Aerospace	3.8	60.4%	-55.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-44.1%
JANX	Janux Therapeutics	0.9	-54.6%	-73.3%
LENZ	LENZ Therapeutics	0.5	-46.3%	-40.6%
FRMI	Fermi	5.5	-45.2%	-75.7%
GOGO	Gogo	0.6	-34.1%	-43.0%
HPK	HighPeak Energy	0.6	-30.8%	-69.2%
ORIC	ORIC Pharmaceuticals	0.7	-28.5%	4.5%
FDMT	4D Molecular Therapeutics	0.5	-25.6%	45.4%
NKTR	Nektar Therapeutics	0.6	-25.1%	215.0%
LW	Lamb Weston	6.0	-24.8%	-34.8%

Peer Comparisons for Next Technology

Peers to compare with:

Financials

	NXTT	COIN	MSTR	MARA	RIOT	SHOP	Median
Name	Next Tec.	Coinbase.	Strategy	MARA	Riot Pla.	Shopify
Mkt Price	6.88	239.73	158.71	9.94	13.92	169.45	86.31
Mkt Cap	0.0	61.2	45.1	3.7	4.8	220.3	25.0
Rev LTM	4	7,008	475	919	637	10,696	778
Op Inc LTM	-44	1,890	-41	-625	-324	1,681	-43
FCF LTM	4	1,807	-37,556	-1,323	-1,631	1,903	-660
FCF 3Y Avg	9	797	-14,523	-736	-906	1,295	-364
CFO LTM	4	1,807	-63	-891	-566	1,923	-30
CFO 3Y Avg	9	828	-35	-554	-229	1,322	-13

Growth & Margins

	NXTT	COIN	MSTR	MARA	RIOT	SHOP	Median
Name	Next Tec.	Coinbase.	Strategy	MARA	Riot Pla.	Shopify
Rev Chg LTM	258.8%	48.6%	1.6%	53.5%	103.6%	30.2%	51.1%
Rev Chg 3Y Avg	49.3%	23.3%	-1.7%	82.7%	37.8%	26.8%	32.3%
Rev Chg Q	-	3.3%	10.9%	91.7%	112.6%	31.5%	31.5%
QoQ Delta Rev Chg LTM	99.3%	0.7%	2.7%	15.1%	17.6%	6.8%	11.0%
Op Mgn LTM	-1,220.8%	27.0%	-8.7%	-68.0%	-50.8%	15.7%	-29.8%
Op Mgn 3Y Avg	-497.1%	2.9%	-6.4%	-57.8%	-80.1%	7.6%	-32.1%
QoQ Delta Op Mgn LTM	-1,218.2%	-6.0%	4.7%	7.5%	18.4%	0.4%	2.5%
CFO/Rev LTM	102.0%	25.8%	-13.3%	-97.0%	-88.8%	18.0%	2.4%
CFO/Rev 3Y Avg	540.9%	10.6%	-7.3%	-98.4%	-42.8%	14.9%	1.6%
FCF/Rev LTM	102.0%	25.8%	-7,907.5%	-144.0%	-256.0%	17.8%	-63.1%
FCF/Rev 3Y Avg	540.9%	9.6%	-3,060.9%	-123.8%	-207.0%	14.5%	-57.1%

Valuation

	NXTT	COIN	MSTR	MARA	RIOT	SHOP	Median
Name	Next Tec.	Coinbase.	Strategy	MARA	Riot Pla.	Shopify
Mkt Cap	0.0	61.2	45.1	3.7	4.8	220.3	25.0
P/S	4.7	8.7	95.0	4.0	7.6	20.6	8.2
P/EBIT	-0.4	17.2	4.1	3.0	26.2	131.1	10.7
P/E	0.1	21.4	5.7	4.0	29.5	123.7	13.5
P/CFO	4.6	33.9	-717.1	-4.1	-8.5	114.6	0.2
Total Yield	1,787.6%	4.7%	17.5%	25.1%	3.4%	0.8%	11.1%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	40.9%	0.5%	-24.3%	-18.1%	-26.4%	1.1%	-8.8%
D/E	0.1	0.1	0.2	1.0	0.2	0.0	0.1
Net D/E	-0.6	-0.1	0.2	0.8	0.1	-0.0	0.0

Returns

	NXTT	COIN	MSTR	MARA	RIOT	SHOP	Median
Name	Next Tec.	Coinbase.	Strategy	MARA	Riot Pla.	Shopify
1M Rtn	-3.6%	-6.3%	-11.4%	-11.3%	0.3%	9.1%	-5.0%
3M Rtn	-70.6%	-25.5%	-50.9%	-43.7%	-22.6%	13.9%	-34.6%
6M Rtn	-98.6%	-32.5%	-59.2%	-33.6%	39.2%	48.8%	-33.1%
12M Rtn	-98.3%	-14.3%	-55.7%	-50.7%	19.3%	53.8%	-32.5%
3Y Rtn	-99.9%	575.5%	875.7%	174.6%	278.3%	402.7%	340.5%
1M Excs Rtn	-7.0%	-9.7%	-14.7%	-14.7%	-3.1%	5.7%	-8.4%
3M Excs Rtn	-74.4%	-26.8%	-52.2%	-43.1%	-21.8%	13.2%	-34.9%
6M Excs Rtn	-111.3%	-49.0%	-71.8%	-47.8%	19.6%	37.0%	-48.4%
12M Excs Rtn	-115.1%	-30.9%	-73.3%	-67.1%	3.6%	38.6%	-49.0%
3Y Excs Rtn	-181.5%	500.1%	750.9%	75.3%	182.8%	295.7%	239.3%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	10/8/2025	3/27/2025	4/15/2024	7/14/2023	4/14/2022	3/31/2021
Key Financials
Total Revenue	4	2	2	0	14	6
EBITDA	-44	-0	-1	-7	6	4
Operating Income	-44	-0	-1	-7	6	4
Net Income	303	22	-10	-9	5	3
EPS	665.11	740.00	-1280.00	-1500.00	740.00	370.00
Growth Rates
Total Revenue Growth	258.8%	-28.0%	∞%	-100.0%	129.3%	-
EBITDA Growth	-1281.6%	98.6%	81.8%	-212.7%	60.1%	-
Operating Income Growth	-1281.6%	98.6%	81.8%	-213.3%	59.7%	-
Net Income Growth	1465.1%	317.1%	-8.4%	-277.0%	93.5%	-
Margins
EBITDA Margin	-1220.8%	-0.9%	-49.5%	-	41.9%	60.1%
Operating Income Margin	-1220.8%	-0.9%	-49.5%	-	41.7%	59.9%
Net Income Margin	8435.3%	1197.2%	-397.0%	-	36.0%	42.7%
Cash & Debt
Total Cash	12	1	1	0	1	5
Total Debt	2	1	0	0	3	3
Net Debt / (Cash)	-10	0	-1	-0	2	-1
Cash Flows
Net Cash from Operations	4	0	20	-38	-4	1
Free Cash from Operations	4	0	20	-38	-4	1
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/8/2025	8/8/2025	5/9/2025	3/27/2025	11/15/2024	8/21/2024	5/20/2024	4/15/2024	11/20/2023	8/22/2023	8/14/2023	7/14/2023
Key Financials Quarterly
Total Revenue	2	0	0	2	0	0	0	1	2	0	0	0
Ebitda	-44	-0	-0	1	-1	-0	-0	-2	1	-0	-0	0
Operating Income	-44	-0	-0	1	-1	-0	-0	-2	1	-0	-0	0
Net Income	-17	119	193	8	1	-7	20	5	-13	-1	-1	-1
EPS	-6.86	54.00	396.00	221.97	39.51	-198.00	1490.00	406.98	-1852.00	-230.00	-180.00	-390.00
Key Financials TTM
Total Revenue TTM	4	2	2	2	1	2	2	2	2	0	1	4
Ebitda TTM	-44	-0	-0	-0	-3	-2	-1	-1	1	-7	-7	-6
Operating Income TTM	-44	-0	-0	-0	-3	-2	-1	-1	1	-7	-7	-6
Net Income TTM	303	321	195	22	19	5	11	-10	-16	-11	-11	-11
Growth Rates Quarterly
Total Revenue Growth	-	-	-	80.0%	-100.0%	-	-	-	-	-100.0%	-100.0%	-100.0%
EBITDA Growth	-7717.8%	25.8%	-36.3%	163.5%	-157.0%	-152.8%	-98.5%	-29379.8%	115.7%	70.2%	-124.2%	-99.7%
Operating Income Growth	-7717.8%	25.8%	-36.3%	163.5%	-157.0%	-152.8%	-98.5%	-29379.8%	115.7%	71.1%	-124.7%	-99.6%
Net Income Growth	-1325.5%	1811.7%	889.6%	41.4%	110.5%	-470.5%	2174.7%	960.8%	-51.4%	-95.8%	-26.7%	-148.8%
Margins Quarterly
EBITDA Margin	-2478.8%	-	-	68.1%	-	-	-	-192.9%	66.3%	-	-	-
Operating Income Margin	-2478.8%	-	-	68.1%	-	-	-	-192.9%	66.3%	-	-	-
Net Income Margin	-944.6%	-	-	419.5%	-	-	-	534.2%	-874.0%	-	-	-
Cash & Debt
Total Cash	12	1	1	1	1	1	1	1	1	20	20	0
Total Debt	2	2	2	1	0	0	0	0	0	0	0	0
Net Debt / (Cash)	-10	1	1	0	-1	-1	-1	-1	-1	-20	-20	-0
Cash Flows Quarterly
FCF from Operations	4	0	0	0	0	0	0	-1	22	-0	-1	3
Cash Flows TTM
FCF from Operations TTM	4	0	0	0	-1	21	21	20	24	-44	-45	-38
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-68.1%	-0.4%	-0.7%	3.9%	-2.5%	-1.5%	-2.0%	-13.7%	7.2%	-2.4%	-2.9%	0.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-12.8%	-0.0%	-0.0%	-0.0%	-4.1%	-2.0%	-2.1%	-2.1%	1.3%	-29.0%	-29.8%	-14.1%

Segment Financials

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
SAAS business	49
Total	49

Price Behavior

Price Behavior

Market Price	$6.88
Market Cap ($ Bil)	0.0
First Trading Date	07/23/2020
Distance from 52W High	-99.0%
	50 Days	200 Days
DMA Price	$13.41	$169.34
DMA Trend	down	down
Distance from DMA	-48.7%	-95.9%
	3M	1YR
Volatility	123.1%	718.2%
Downside Capture	588.64	216.01
Upside Capture	-94.62	-216.54
Correlation (SPY)	17.9%	2.4%

NXTT Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.52	1.65	4.16	0.38	0.94	0.89
Up Beta	-6.08	-2.83	-1.81	-1.77	1.33	0.25
Down Beta	4.12	2.38	-1.32	3.37	5.83	3.51
Up Capture	-410%	-163%	49%	-168%	-50%	-5%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	3	9	20	44	92	301
Down Capture	457%	430%	626%	364%	148%	112%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	17	33	42	80	154	434

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of NXTT With Other Asset Classes (Last 1Y)
	NXTT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-98.2%	26.7%	19.2%	71.9%	8.9%	6.0%	-10.4%
Annualized Volatility	714.1%	27.6%	19.5%	19.3%	15.3%	17.1%	35.0%
Sharpe Ratio	0.53	0.84	0.78	2.69	0.36	0.18	-0.12
Correlation With Other Assets		2.8%	2.4%	2.7%	5.7%	7.3%	0.8%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of NXTT With Other Asset Classes (Last 5Y)
	NXTT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-88.2%	19.0%	14.9%	18.7%	11.7%	4.8%	32.6%
Annualized Volatility	406.9%	24.7%	17.1%	15.5%	18.7%	18.9%	48.7%
Sharpe Ratio	0.25	0.69	0.70	0.97	0.51	0.17	0.59
Correlation With Other Assets		6.7%	6.4%	0.8%	5.5%	7.8%	4.2%

Based On 10-Year Data

		Comparison of NXTT With Other Asset Classes (Last 10Y)
	NXTT	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-80.2%	22.3%	14.7%	14.9%	6.9%	5.2%	69.2%
Annualized Volatility	407.8%	24.2%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.43	0.84	0.70	0.83	0.31	0.22	0.90
Correlation With Other Assets		6.9%	6.6%	-1.7%	5.0%	7.3%	4.3%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	14,747
Short Interest: % Change Since 11302025	-1.2%
Average Daily Volume	87,612
Days-to-Cover Short Interest	1
Basic Shares Quantity	2,461,018
Short % of Basic Shares	0.6%

Returns Analyses

	Title
0	Would You Still Hold Next Technology Stock If It Fell Another 30%?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/11/2025	-8.0%	-34.5%	-91.5%
SUMMARY STATS
# Positive	0	0	0
# Negative	1	1	1
Median Positive
Median Negative	-8.0%	-34.5%	-91.5%
Max Positive
Max Negative	-8.0%	-34.5%	-91.5%

	Forward Returns
8/11/2025	-8.0%	-34.5%	-91.5%
SUMMARY STATS
# Positive	0	0	0
# Negative	1	1	1
Median Positive
Median Negative	-8.0%	-34.5%	-91.5%
Max Positive
Max Negative	-8.0%	-34.5%	-91.5%

SEC Filings

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Report Date	Filing Date	Filing
9302025	10082025	10-Q 9/30/2025
6302025	8082025	10-Q 6/30/2025
3312025	5092025	10-Q 3/31/2025
12312024	3272025	10-K 12/31/2024
9302024	11152024	10-Q 9/30/2024
6302024	8212024	10-Q 6/30/2024
3312024	5202024	10-Q 3/31/2024
12312023	4152024	10-K 12/31/2023
9302023	11202023	10-Q 9/30/2023
6302023	8222023	10-Q 6/30/2023
3312023	8142023	10-Q 3/31/2023
12312022	7142023	10-K 12/31/2022
9302022	11232022	10-Q 9/30/2022
6302022	8152022	10-Q 6/30/2022
3312022	5232022	10-Q 3/31/2022
12312021	4142022	10-K 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Next Technology (NXTT)

Market Price (12/25/2025): $6.88 | Market Cap: $16.9 MilSector: Information Technology | Industry: Application Software

Next Technology (NXTT)

Market Price (12/25/2025): $6.88Market Cap: $16.9 MilSector: Information TechnologyIndustry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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NXTT Stock

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Better Bets than Next Technology (NXTT)

INDUSTRY: Application Software

Higher Rev Chg 3Y Avg | Lower P/S (Values for NXTT: 49.3% | 4.7x)

Higher Rev Chg LTM (Value for NXTT: 258.8%)

Higher Rev Chg 3Y Avg (Value for NXTT: 49.3%)

Higher Op Mgn LTM (Value for NXTT: -1220.8%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for NXTT: 49.3% | 4.7x)

Higher Rev Chg LTM (Value for NXTT: 258.8%)

Higher Rev Chg 3Y Avg (Value for NXTT: 49.3%)

Higher Op Mgn LTM (Value for NXTT: -1220.8%)

Higher CFO/Rev LTM (Value for NXTT: 102.0%)

Higher FCF/Rev LTM (Value for NXTT: 102.0%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for NXTT: 49.3% | 4.7x)

Higher Rev Chg LTM (Value for NXTT: 258.8%)

Higher Rev Chg 3Y Avg (Value for NXTT: 49.3%)

Higher Op Mgn LTM (Value for NXTT: -1220.8%)

Higher CFO/Rev LTM (Value for NXTT: 102.0%)

Higher FCF/Rev LTM (Value for NXTT: 102.0%)

Higher Total Yield (Value for NXTT: 1787.6%)

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Market Price (12/25/2025): $6.88 | Market Cap: $16.9 Mil
Sector: Information Technology | Industry: Application Software

Market Price (12/25/2025): $6.88
Market Cap: $16.9 Mil
Sector: Information Technology
Industry: Application Software