CNETNasdaqServices-Computer Programming, Data Processing, Etc.US GAAP · USD

ZW Data Action Technologies Inc.

ZW Data Action Technologies Inc. is a U.S.-listed services company that operates through subsidiaries and VIEs in China and Hong Kong, providing digital marketing, online advertising, and data-driven technical services. The company also offers blockchain-based SaaS solutions through its BIF platform, including enterprise management, NFT generation, and data storage modules.

Kysy yhtiöstä
Liikevaihto4,6milj. USD
−70,1 %v/v
Liikevoitto (EBIT)−2,0milj. USD
+48,0 %v/v
EBIT-marginaali−42,3%
−18,0 %-yks.v/v
Nettotulos−1,8milj. USD
+52,9 %v/v
Vapaa kassavirta−1,0milj. USD
+51,8 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−200204060milj. USD2020: 38 milj. USD2020: EBIT −5,7 milj. USD20202021: 47 milj. USD2021: EBIT −14 milj. USD20212022: 26 milj. USD2022: EBIT −11 milj. USD20222023: 31 milj. USD2023: EBIT −6,0 milj. USD20232024: 15 milj. USD2024: EBIT −3,8 milj. USD20242025: 4,6 milj. USD2025: EBIT −2,0 milj. USD20254,6−2,0
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Digital marketing and advertising services70 %

Omni-channel advertising, influencer marketing, online placements, and related campaign services.

Search engine marketing distribution5 %

Distribution rights for search engine marketing services purchased from key search engines.

Blockchain-based SaaS20 %

Subscription-based enterprise management tools delivered through the BIF platform.

IP and technical services5 %

Licensing and monetization of marketing-related intellectual property and data systems.

Tuotteet

Raportoitu · osuus liikevaihdosta
79,9%13,4%FY2025100 %
  • Online Advertising Placement79,9 %
  • Blockchainbased Saas Services13,4 %
  • IP Services5,6 %
  • Search Engine Marketing and Data Service1,1 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

The company serves small and medium enterprises that buy digital marketing services to improve brand awareness, customer acquisition, and campaign effectiveness. It also serves Hong Kong and overseas clients seeking influencer marketing, branding strategy, creative development, and digital advertising management. For its SaaS and IP offerings, customers are businesses that need blockchain-enabled enterprise tools or marketing technology systems.

SMEs

Buy integrated advertising and marketing services to raise brand visibility and acquire customers.

Hong Kong and overseas clients

Purchase influencer marketing, branding strategy, creative development, and digital ad management.

Enterprise SaaS users

Subscribe to BIF modules for blockchain-based record, storage, and management functions.

IP licensing customers

Use or license marketing data management and targeted marketing technologies.

Strategia

The company is repositioning its mix toward higher-margin digital marketing services and away from lower-margin search engine marketing distribution. It is also building out AI-enabled marketing capabilities and proprietary IP through acquisitions, while expanding blockchain-based SaaS and related data services.

Expand higher-margin digital marketing channelsLyhyt aikaväli

Diversifies revenue and improves competitive positioning versus commoditized ad distribution.

Build AI-enabled marketing capabilitiesKeskipitkä aikaväli

Supports more accurate targeting and lower-cost content creation.

Grow blockchain-based SaaSKeskipitkä aikaväli

Adds subscription-style revenue and broadens the product set beyond services.

Maantiede

ZW Data Action Technologies is organized around U.S. listing and reporting, but its operating footprint is centered in Greater China through PRC subsidiaries, VIEs, and Hong Kong entities. The company also serves Hong Kong and overseas clients, and its recent disclosures highlight PRC exposure through search engine marketing, IP services, and blockchain SaaS activities. This geography mix ties revenue to China-related demand, regulatory conditions, and cross-border operating structures.

Riskit

The business is exposed to demand swings in SME advertising budgets, which tend to weaken when general economic conditions soften. It also faces execution risk from its transition away from search engine marketing distribution, plus credit risk from receivables and counterparty collection issues in a cross-border operating structure.

Järjestetty vakavuuden mukaan
Demand sensitivity among SME customersKorkea

Advertising budgets are often reduced when economic conditions weaken.

Kohdistuu: Core digital marketing services

Transition away from search engine marketing distributionKorkea

The company is reducing a legacy revenue stream that previously contributed scale.

Kohdistuu: PRC search marketing business

PRC operating and regulatory exposureKorkea

A large part of operations and customer activity is tied to China and Hong Kong.

KohdistuuSubsidiariesVIEsClient base
Credit and collection riskKeskitaso

Revenue depends on timely payment from customers and other counterparties.

Kohdistuu: Accounts receivable and short-term loans

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition

The company sells multiple service types, including advertising, distribution rights, IP services, and SaaS subscriptions.

Vaikutus: Timing and presentation of revenue can differ by offering

Allowance for credit losses

Receivables and short-term loans require judgment about collectability.

Vaikutus: Can materially affect asset values and earnings

Fair value measurement of warrant liabilities

Management identifies warrant valuation as a critical estimate.

Vaikutus: Can create non-cash volatility in reported results

Amortization of software and intellectual property

BIF platform and acquired IP generate amortization expense.

Vaikutus: Affects gross margin and operating profitability

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Päivitetty: 29.4.2026