HKD

MKT CAP:$834M

AMTD Digital Inc.

Market Cap

$834M

Technology·Software - Application·🇭🇰 Hong Kong·NYSE

Technology·Software App·🇭🇰·NYSE

Stock Price

$1.81+$0.47 (+35.07%)

Apr 17, 2026

Company Details

AMTD Digital Inc. designs and develops a digital platform to provide financial, media, content and marketing, and investment solutions. It offers digital banking and insurance technology platforms for consumers and small and medium-sized en...

CEO

Giampietro Baudo

IPO Date

Jul 15, 2022

Website

www.amtdigital.net

Key Metrics TTM

Revenue

$97M

+230.9% YoY

Net Income

$118M

EPS (Diluted)

$0.49

Free Cash Flow

$43M

Revenue / Share

$0.31

Gross Margin

44.4%

Operating Margin

52.1%

Net Margin

121.5%

FCF Margin

44.2%

P/S

8.6x

P/E

7.1x

Earnings Reports

Q2 2026

Feb 27, 2026

$25M+665.9%EPS $0.09

Q4 2025

Apr 29, 2025

$20M-58.9%EPS $0.08

Q2 2025

Apr 29, 2025

$3MEPS $0.01

FY 2024

Jul 16, 2024

$50M+50.5%EPS $0.33

Q4 2024

Oct 31, 2023

$49M+1895.2%EPS $0.31

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 20	$17M	$16M	$15M
Q4 20	$4M	$4M	$3M
Q2 21	$19M	-$1M	$14M
Q4 21	$6M	$4M	$3M
Q2 23	$2M	$1M	$924.2K
Q4 23	$2M	$2M	$943.0K
Q4 24	$49M	$43M	$38M
Q4 25	$20M	$0	$11M
Q2 25	$3M	$0	$1M
Q2 26	$25M	$0	-$18.0K

Valuation

Quarter	P/S	P/E
Q2 20	—	—
Q4 20	—	—
Q2 21	—	—
Q4 21	107.7x	118.8x
Q2 23	117.9x	112.5x
Q4 23	45.1x	47.0x
Q4 24	13.0x	10.5x
Q4 25	5.5x	4.4x
Q2 25	5.4x	4.3x
Q2 26	4.7x	3.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 20	$23M	$23M
Q4 20	$5M	$5M
Q2 21	$8M	$8M
Q4 21	$3M	$3M
Q2 23	$0	$0
Q4 23	$0	$0
Q4 24	$40M	$40M

Capital Expenditures

Quarter	CapEx
Q2 20	$0
Q4 20	$0
Q2 21	$21.7K
Q4 21	$128
Q2 23	$0
Q4 23	$0
Q4 24	$31.8K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	-89.6%	-54.5%
Q4 23	-44.1%	+33.1%
Q4 24	+161.9%	+135.8%
Q4 25	+212.5%	+161.5%
Q2 25	+81.9%	+111.4%
Q2 26	+913.0%	+1550.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 20	$0	0.0%
Q4 20	$0	0.0%
Q2 21	$18	0.0%
Q4 21	$118.9K	1.9%
Q2 23	$0	0.0%
Q4 23	$31.2K	1.3%
Q4 24	$155.2K	0.3%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q2 20	$107.6K	$602.0K	—
Q4 20	$141.6K	$2.8K	—
Q2 21	$205.9K	$25.9K	—
Q4 21	$697.5K	$16.0K	—
Q2 23	$153.1K	$40.6K	—
Q4 23	$215.9K	$43.0K	—
Q4 24	$3M	$331.1K	—
Q4 25	—	—	$9M
Q2 25	—	—	$1M
Q2 26	—	—	$7M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q2 20	—	11.5%	—
Q4 20	—	10.3%	—
Q2 21	—	86.8%	—
Q4 21	—	7.2%	—
Q2 23	-89.6%	55.0%	-34.5
Q4 23	-44.1%	42.3%	-1.8
Q4 24	161.9%	64.2%	226.1
Q4 25	212.5%	311.1%	523.5
Q2 25	81.9%	249.0%	330.9
Q2 26	913.0%	224.4%	1137.5

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 20	$25M	$0	$25M
Q4 21	$53M	$0	$53M
Q4 22	$14M	$0	$14M
Q2 23	$18M	$0	$18M
Q4 23	$20M	$18.0K	$20M
Q4 24	$135M	$250.8K	$135M
Q4 25	$28M	$12M	$40M
Q2 25	$4M	$2M	$5M
Q2 26	$46M	$8M	$54M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 20	177M	—	—
Q4 20	169M	-4.5%	—
Q2 21	132M	-21.7%	—
Q4 21	185M	+39.9%	—
Q2 23	180M	-2.8%	+1.6%
Q4 23	191M	+6.4%	+13.1%
Q4 24	192M	+0.2%	+44.8%
Q4 25	315M	+64.6%	+70.5%
Q2 25	315M	0.0%	+75.4%
Q2 26	314M	-0.4%	+64.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 20	—	—
Q4 20	—	—
Q2 21	—	—
Q4 21	—	—
Q2 23	$35.5K	50
Q4 23	$12.5K	196
Q4 24	$248.7K	196
Q2 25	$16.2K	199
Q4 25	$100.8K	199
Q2 26	$124.4K	199

Revenue / Employee