Bit Origin Limited - BTOG

BTOG Returns vs S&P 500 ⓘ

ticker	1 day return %	1 week return %	1 month return %	3 months return %	6 months return %	1 year return %	3 years return %	5 years return %	10 years return %	maximum return %
BTOG	-9.1	-11.4	-33.3	-70.4	-62.3	-76.0	-98.1	-99.5	-99.6	-99.6
S&P 500	0.7	1.6	2.7	4.1	9.5	25.6	38.2	83.5	195.4	34406.5

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Returns Charts ⓘ

Interactive Price Chart

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Real-time Full Quote

Attribute	Value
symbol	BTOG
name	Bit Origin Limited
price	0.5999
changes percentage	-9.1061
change	-0.0601
day low	0.5622
day high	0.691
year high	9.71
year low	0.5622
market cap	5079215
price avg 50	1.18328
price avg 200	2.310475
exchange	NASDAQ
volume	176456
avg volume	106028
open	0.691
previous close	0.66
eps	-3.34
pe	-0.18
earnings announcement	2024-01-30T05:00:00.000+0000
shares outstanding	8466770
timestamp	2025-01-22 17:37:23

Financial Statements ⓘ

We derive the score of a company's financial statements by evaluating the weighted average sentiment across key within the statements. The cumulative score, normalized to a sum of 1, serves as a metric for assessing the company's performance during the specified period. A higher score indicates stronger performance. However, it's crucial to note that while this score provides valuable insights, it is just one of many factors to consider when making informed investment decisions. A holistic evaluation, considering various aspects of the company's financial health and market conditions, is essential for a well-rounded investment strategy.

Overall Annual Financial Health: 40.0%

Overall Quarterly Financial Health: 36.7%

Income Statements ⓘ

• Annual Income Statement

Note: The years below are fiscal years in accounting.

	2024	2023	Y/Y change %
0001735556
revenue	2888482	6261091	-53.87
gross profit	-945202	-4565529	79.30
gross profit ratio	-0.33	-0.73	55.12
research and development expenses	0	0	NaN
operating expenses	13890591	23739111	-41.49
interest income	-1116865	0	NaN
interest expense	497768	227376	118.92
ebitda	-16886252	-22627020	25.37
ebitdaratio	-5.85	-3.61	-61.77
operating income	-14835793	-28304640	47.59
operating income ratio	-5.14	-4.52	-13.61
net income	-17531647	-28216352	37.87
net income ratio	-6.07	-4.51	-34.68
eps	-4.94	-8.5	41.88

Overall Score of Annual Income Statement

0.43 out of 1

Detailed Analysis

• 📉 Negative Indicators

  Revenue Growth: revenue decreased to 3 million in 2024 from 6 million in 2023 representing a change of -53.87%. This indicates a sales shrinking, which is a negative sign for the company.

  EBITDA: EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) decreased to -17 million in 2024 from -23 million in 2023 representing a change of 25.37%. The decrease in EBITDA indicates declined operational efficiency and profitability.

  Operating Income: Operating income decreased to -15 million in 2024 from -28 million in 2023 representing a change of 47.59%. The decrease in operating income indicates worse operational performance and decreased profitability.

  Net Income: Net income decreased to -18 million in 2024 from -28 million in 2023 representing a change of 37.87%. The decrease in net income shows worsen profitability and indicates that the company is generating less profit for each dollar of revenue.

• 📈 Positive Indicators

  Gross Profit: Gross Profit increased to -1 million in 2024 from -5 million in 2023 representing a change of 79.3%. This indicates a sales profitability growth, which is a positive sign for the company.

  Operating Expenses: Operating Expenses decreased to 14 million in 2024 from 24 million in 2023 representing a change of -41.49%. The decrease in operating expenses can be attributed to various factors such as improved profitability, cost optimization and financial stability, lower operating expenses can be positive indicators.

  Earnings per Share (EPS): EPS increased to -4.94 in 2024 from -4.94 in 2023 representing a change of 41.88%. This indicates that the company's earnings are increasing and it is becoming more profitable on a per-share basis.

• Quarterly Income Statement

Note: The years below are fiscal years in accounting.

	2024Q2	2024Q1	Q/Q change %
0001735556
revenue	1444241	1444241	0.0
gross profit	-472601	-472601	0.0
gross profit ratio	-0.33	-0.33	0.0
research and development expenses	0	0	NaN
operating expenses	2903339	2987114	-2.8
interest income	69363	69363	0.0
interest expense	0	0	NaN
ebitda	-2925471	-2925471	0.0
ebitdaratio	-2.03	-2.03	0.0
operating income	-3375940	-3375940	0.0
operating income ratio	-2.34	-2.34	0.0
net income	-3529079	-3529079	0.0
net income ratio	-2.44	-2.44	0.0
eps	-0.99	-0.99	0.0

Overall Score of Quarterly Income Statement

1.0 out of 1

Detailed Analysis

• 📈 Positive Indicators

  Operating Expenses: Operating Expenses decreased to 3 million in 2024Q2 from 3 million in 2024Q1 representing a change of -2.8%. The decrease in operating expenses can be attributed to various factors such as improved profitability, cost optimization and financial stability, lower operating expenses can be positive indicators.

Balance Sheets ⓘ

• Annual Balance Sheet

Note: The years below are fiscal years in accounting.

	2024	2023	Y/Y change %
0001735556
total assets	6684745	13335828	-49.87
total liabilities	5775162	3074757	87.82
total equity	909583	10261071	-91.14
cash and cash equivalents	1409070	16274	8558.41
short term investments	0	0	NaN
long term investments	0	2389698	-100.00
total current assets	6684745	3572925	87.09
total non current assets	0	9762903	-100.00
total current liabilities	2491170	2588425	-3.76
total non current liabilities	3283992	486332	575.26
common stock	2327505	1014328	129.46
retained earnings	-81731423	-64199776	-27.31
total debt	5164011	2075799	148.77

Overall Score of Annual Balance Sheet

0.44 out of 1

Detailed Analysis

• 📉 Negative Indicators

  Total Assets: Total Assets decreased to 7 million in 2024 from 13 million in 2023 representing a change of -49.87%. Suggesting a decrease in asset holdings.

  Total Liabilities: Total Liabilities increased to 6 million in 2024 from 3 million in 2023 representing a change of 87.82%. This indicates an increase in overall liabilities.

  Total Equity: Total Equity decreased to 1 million in 2024 from 10 million in 2023 representing a change of -91.14%. This indicates a decrease in shareholders' equity.

  Retained Earnings: Retained Earnings decreased to -82 million in 2024 from -64 million in 2023 representing a change of -27.31%. This indicates an accumulated losses.

  Total Debt: Total Debt increased to 5 million in 2024 from 2 million in 2023 representing a change of 148.77%. This indicates an increase in overall debt burden.

• 📈 Positive Indicators

  Cash And Cash Equivalents: Cash And Cash Equivalents increased to 1 million in 2024 from 0 million in 2023 representing a change of 8558.41%. This indicates an increase in available liquid assets.

  Total Current Assets: Total Current Assets increased to 7 million in 2024 from 4 million in 2023 representing a change of 87.09%. This indicates a better liquidity position.

  Total Current Liabilities: Total Current Liabilities decreased to 2 million in 2024 from 3 million in 2023 representing a change of -3.76%. This indicates a lower short-term debt burden.

  Common Stock: Common Stock increased to 2 in 2024 from 1 in 2023 representing a change of 129.46%. This indicates an increase in ownership interest.

• Quarterly Balance Sheet

Note: The years below are fiscal years in accounting.

	2024Q4	2024Q2	Q/Q change %
0001735556
total assets	6684745	13465381	-50.36
total liabilities	5775162	4511861	28.00
total equity	909583	8953520	-89.84
cash and cash equivalents	1409070	6888009	-79.54
short term investments	0	184320	-100.00
long term investments	0	2389698	-100.00
total current assets	6684745	9134003	-26.81
total non current assets	0	4331378	-100.00
total current liabilities	2491170	1633924	52.47
total non current liabilities	3283992	2877937	14.11
common stock	2327505	1676359	38.84
retained earnings	-81731423	-71257934	-14.70
total debt	5164011	4271516	20.89

Overall Score of Quarterly Balance Sheet

0.1 out of 1

Detailed Analysis

• 📉 Negative Indicators

  Total Assets: Total Assets decreased to 7 million in 2024Q4 from 13 million in 2024Q2 representing a change of -50.36%. Suggesting a decrease in asset holdings.

  Total Liabilities: Total Liabilities increased to 6 million in 2024Q4 from 5 million in 2024Q2 representing a change of 28.0%. This indicates an increase in overall liabilities.

  Total Equity: Total Equity decreased to 1 million in 2024Q4 from 9 million in 2024Q2 representing a change of -89.84%. This indicates a decrease in shareholders' equity.

  Cash And Cash Equivalents: Cash And Cash Equivalents decreased to 1 million in 2024Q4 from 7 million in 2024Q2 representing a change of -79.54%. This indicates a decrease in available liquid assets.

  Short Term Investments: Short Term Investments decreased to 0 million in 2024Q4 from 0 million in 2024Q2 representing a change of -100.0%. This indicates a decrease in short-term investment holdings.

  Total Current Assets: Total Current Assets decreased to 7 million in 2024Q4 from 9 million in 2024Q2 representing a change of -26.81%. This indicates a worsen liquidity position.

  Total Current Liabilities: Total Current Liabilities increased to 2 million in 2024Q4 from 2 million in 2024Q2 representing a change of 52.47%. This indicates a higher short-term debt burden.

  Retained Earnings: Retained Earnings decreased to -82 million in 2024Q4 from -71 million in 2024Q2 representing a change of -14.7%. This indicates an accumulated losses.

  Total Debt: Total Debt increased to 5 million in 2024Q4 from 4 million in 2024Q2 representing a change of 20.89%. This indicates an increase in overall debt burden.

• 📈 Positive Indicators

  Common Stock: Common Stock increased to 2 in 2024Q4 from 2 in 2024Q2 representing a change of 38.84%. This indicates an increase in ownership interest.

Cashflow Statements ⓘ

• Annual Cashflow Statement

Note: The years below are fiscal years in accounting.

	2024	2023	Y/Y change %
0001735556
net change in cash	1392796	-1531	91072.96
operating cash flow	-7929234	-6761587	-17.27
free cash flow	-7929234	-6876620	-15.31
capital expenditure	0	-115033	100.00
depreciation and amortization	900938	5361955	-83.20
deferred income tax	0	0	NaN
stock based compensation	73230	67271	8.86
accounts payables	-667912	667912	-200.00
inventory	0	0	NaN
acquisitions net	250	0	NaN
investments in property plant and equipment	0	-115033	100.00
net cash used for investing activites	1023256	4269529	-76.03
debt repayment	3748334	2363000	58.63
common stock issued	3994222	0	NaN
common stock repurchased	0	0	NaN
dividends paid	0	0	NaN
net cash used provided by financing activities	8298774	2490527	233.21
cash at end of period	1409070	16274	8558.41
accounts receivables	-2982107	1014989	-393.81
cash at beginning of period	16274	17805	-8.60

Overall Score of Annual Cashflow Statement

0.33 out of 1

Detailed Analysis

• 📈 Positive Indicators

  Net Change in Cash: Net Change in Cash increased to 1 million in 2024 from 0 million in 2023 representing a change of 91072.96%. Indicating an increased ability to generate cash from the company's operations or its cash flow position.

  Accounts Receivables: Accounts Receivables decreased to -3 million in 2024 from 1 million in 2023 representing a change of -393.81%. This suggests that the company has been able to collect payments from its customers more efficiently and timely.

• 📉 Negative Indicators

  Operating Cash Flow: Operating Cash Flow decreased to -8 million in 2024 from -7 million in 2023 representing a change of -17.27%. This indicates that the company generated less cash from its core business operations.

  Free Cash Flow: Free Cash Flow decreased to -8 million in 2024 from -7 million in 2023 representing a change of -15.31%. This indicates a decrease in cash generated after accounting for capital expenditures.

  Capital Expenditure: Capital Expenditure increased to 0 million in 2024 from 0 million in 2023 representing a change of 100.0%. This indicates an increase in the cash outflow required for acquiring or improving long-term assets.

  Stock-Based Compensation: Stock-Based Compensation increased to 0 million in 2024 from 0 million in 2023 representing a change of 8.86%. This indicates increased expenses, which is generally considered a negative sign from a financial perspective.

• Quarterly Cashflow Statement

Note: The years below are fiscal years in accounting.

	2024Q2	2024Q1	Q/Q change %
0001735556
operating cash flow	-2310182	-2310182	0.00
free cash flow	-2310178.0	-2310182	0.00
capital expenditure	4.0	0	NaN
depreciation and amortization	592087	450469	31.44
deferred income tax	0	0	NaN
stock based compensation	21005	21005	0.00
accounts receivables	0	0	NaN
accounts payables	0	0	NaN
inventory	0	0	NaN
acquisitions net	0	0	NaN
investments in property plant and equipment	0	0	NaN
net cash used for investing activites	3718828	1859414	100.00
debt repayment	0	0	NaN
common stock issued	2903662	0	NaN
common stock repurchased	0	0	NaN
dividends paid	0	0	NaN
net cash used provided by financing activities	7773271	3886636	100.00
net change in cash	6871735	3435868	100.00
cash at end of period	6888009	3435868	100.47
cash at beginning of period	16274	0	NaN

Overall Score of Quarterly Cashflow Statement

None

Detailed Analysis

Earnings Transcripts ⓘ

No earnings transcripts available.

Earnings Per Share (EPS) ⓘ

Analyst Stock Recommendations ⓘ

Discover detailed analyst recommendations for stocks, including categories such as Buy, Hold, Sell, Strong Buy, and Strong Sell. These insights are based on thorough analysis of financial and market factors. The consensus is calculated by assigning a numerical score to each recommendation. These scores are then weighted and averaged over a specified period to provide a comprehensive view of the stock's outlook, with the final score determining the overall consensus.

Financial Ratios ⓘ

• Annual Financial Ratios

	2024-06-30	2023-06-30	Y/Y change %
FY
calendar year	2024	2023	NaN
revenue per share	0.81	1.89	-56.86
net income per share	-4.94	-8.5	41.90
operating cash flow per share	-2.23	-2.04	-9.66
free cash flow per share	-2.23	-2.07	-7.82
cash per share	0.4	0.0	7996.40
book value per share	0.26	3.09	-91.71
tangible book value per share	0.26	3.09	-91.71
shareholders equity per share	0.47	3.09	-84.85
interest debt per share	1.6	0.69	129.87
market cap	7347166.92	6770694.72	8.51
enterprise value	11102107.92	8830219.72	25.73
pe ratio	-0.42	-0.24	-74.65
price to sales ratio	2.54	1.08	135.22
pocfratio	-0.93	-1.0	7.47
pfcf ratio	-0.93	-0.98	5.89
pb ratio	4.42	0.66	569.70
ptb ratio	4.42	0.66	569.70
ev to sales	3.84	1.41	172.53
enterprise value over ebitda	-0.66	-0.39	-68.47
ev to operating cash flow	-1.4	-1.31	-7.21
ev to free cash flow	-1.4	-1.28	-9.04
earnings yield	-2.39	-4.17	42.74
free cash flow yield	-1.08	-1.02	-6.26
debt to equity	3.11	0.2	1435.31
debt to assets	0.77	0.16	396.29
net debt to ebitda	-0.22	-0.09	-144.30
current ratio	2.68	1.38	94.40
interest coverage	-29.8	-124.48	76.06
income quality	0.43	0.24	80.96
dividend yield	0	0	NaN
payout ratio	0	0	NaN
sales general and administrative to revenue	1.35	0.48	182.74
research and ddevelopement to revenue	0	0	NaN
intangibles to total assets	0	0	NaN
capex to operating cash flow	0	-0.02	100.00
capex to revenue	0	0.02	-100.00
capex to depreciation	0	0.02	-100.00
stock based compensation to revenue	0.03	0.01	135.96
graham number	7.22	24.32	-70.33
roic	-2.44	-2.29	-6.47
return on tangible assets	-2.62	-2.12	-23.95
graham net net	-0.58	-0.82	28.95
working capital	4193575	984500	325.96
tangible asset value	909583	10261071	-91.14
net current asset value	909583	498168	82.59
invested capital	4193575	8357705	-49.82
average receivables	1773441.5	2444498.5	-27.45
average payables	333956	333956	0.00
average inventory	0	586238	-100.00
days sales outstanding	389.04	27.29	1325.42
days payables outstanding	0	22.52	-100.00
days of inventory on hand	0	0	NaN
receivables turnover	0.94	13.37	-92.98
payables turnover	0	16.21	-100.00
inventory turnover	0	0	NaN
roe	-10.54	-2.75	-283.46
capex per share	0	0.03	-100.00

• Negative

  ROE: Return on Equity (ROE) decreased to -10.54 on 2024-06-30 from -2.75 on 2023-06-30, representing a change of -283.46%. Suggesting that the company has not been generating high returns for its shareholders.

  PE Ratio: Price-to-Earnings (P/E) Ratio decreased to -0.42 on 2024-06-30 from -0.24 on 2023-06-30, representing a change of -74.65%. Indicating a decrease in the relative valuation of the company's stock.

  Debt-to-Equity Ratio: Debt-to-Equity Ratio increased to 3.11 on 2024-06-30 from 0.20 on 2023-06-30, representing a change of 1435.31%. The debt-to-equity ratio has been increasing, indicating that the company has been relying more on debt financing. A ratio of 2.0 or higher is usually considered risky.

• Positive

  Current Ratio: Current Ratio increased to 2.68 on 2024-06-30 from 1.38 on 2023-06-30, representing a change of 94.40%. The current ratio has been increasing, suggesting an increase in the company's short-term liquidity. Also, it's above 1, indicating the ability to cover short-term obligations.

• Quarterly Financial Ratios

	2024-06-30 Q4	2023-12-31 Q2	Q/Q change %
BTOG
calendar year	2024	2024	NaN
revenue per share	0	0.41	-100.00
net income per share	0	-0.99	100.00
operating cash flow per share	0	-0.65	100.00
free cash flow per share	0	-0.65	100.00
cash per share	0	1.99	-100.00
book value per share	0	2.52	-100.00
tangible book value per share	0	2.52	-100.00
shareholders equity per share	0	2.52	-100.00
interest debt per share	0	1.2	-100.00
market cap	0	14729827.4	-100.00
enterprise value	3754941	12113334.4	-69.00
pe ratio	0	-1.04	100.00
price to sales ratio	0	10.2	-100.00
pocfratio	0	-6.38	100.00
pfcf ratio	0	-6.38	100.00
pb ratio	0	1.65	-100.00
ptb ratio	0	1.65	-100.00
ev to sales	0	8.39	-100.00
enterprise value over ebitda	0	-4.14	100.00
ev to operating cash flow	0	-5.24	100.00
ev to free cash flow	0	-5.24	100.00
earnings yield	None	-0.24	NaN
free cash flow yield	0	-0.16	100.00
debt to equity	3.11	0.48	551.03
debt to assets	0.77	0.32	143.52
net debt to ebitda	0	0.89	-100.00
current ratio	2.68	5.59	-52.00
interest coverage	0	0	NaN
income quality	0	0.65	-100.00
dividend yield	None	0	NaN
payout ratio	0	0	NaN
sales general and administrative to revenue	0	0.3	-100.00
research and ddevelopement to revenue	0	0	NaN
intangibles to total assets	0	0	NaN
capex to operating cash flow	0	-0.0	100.00
capex to revenue	0	0.0	-100.00
capex to depreciation	0	0.0	-100.00
stock based compensation to revenue	0	0.01	-100.00
graham number	0	7.51	-100.00
roic	None	-0.26	NaN
return on tangible assets	None	-0.26	NaN
graham net net	0	1.06	-100.00
working capital	4193575	7500079	-44.09
tangible asset value	909583	8953520	-89.84
net current asset value	909583	4622142	-80.32
invested capital	4193575	9441759	-55.58
average receivables	None	730824.5	NaN
average payables	None	0	NaN
average inventory	None	92160	NaN
days sales outstanding	0	91.08	-100.00
days payables outstanding	0	0	NaN
days of inventory on hand	0	8.65	-100.00
receivables turnover	None	0.99	NaN
payables turnover	0	0	NaN
inventory turnover	0	10.4	-100.00
roe	None	-0.39	NaN
capex per share	0	0.0	-100.00

• Positive

  PE Ratio: Price-to-Earnings (P/E) Ratio increased to 0.00 on 2024-06-30 Q4 from -1.04 on 2023-12-31 Q2, representing a change of 100.00%. Indicating an increase in the relative valuation of the company's stock.

• Neutral

  Current Ratio: Current Ratio decreased to 2.68 on 2024-06-30 Q4 from 5.59 on 2023-12-31 Q2, representing a change of -52.00%. The current ratio has been declining, suggesting a decrease in the company's short-term liquidity. However, it is still above 1, indicating the ability to cover short-term obligations.

• Negative

  Debt-to-Equity Ratio: Debt-to-Equity Ratio increased to 3.11 on 2024-06-30 Q4 from 0.48 on 2023-12-31 Q2, representing a change of 551.03%. The debt-to-equity ratio has been increasing, indicating that the company has been relying more on debt financing. A ratio of 2.0 or higher is usually considered risky.

Growth Rates ⓘ

• Annual Growth

• Quarterly Growth

Intrinsic Value (Discounted Cash Flow) ⓘ

None