MFI

MKT CAP:$18M

mF International Limited

Market Cap

$18M

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

Technology·Software App·🇭🇰·NASDAQ

Stock Price

$11.26-$7.19 (-38.97%)

Apr 22, 2026

Company Details

mF International Limited, a holding company, engages in the research and development, and sale of financial trading solutions through the Internet or as a platform as a service in Hong Kong, mainland China, and Southeast Asia. It offers rea...

CEO

Dawei Yuan

IPO Date

Apr 22, 2024

Website

www.m-finance.com

Key Metrics TTM

Revenue

$8M

-12.1% YoY

Net Income

-$4M

EPS (Diluted)

-$2.26

Free Cash Flow

-$2M

Revenue / Share

$4.54

Gross Margin

48.1%

Operating Margin

-49.7%

Net Margin

-50.0%

FCF Margin

-29.9%

P/S

2.4x

P/E

—

Earnings Reports

Q2 2025

Jun 30, 2025

$2M+20.8%EPS -$1.05

FY 2024

Apr 23, 2025

$3M-18.4%EPS -$1.62

Q4 2024

Dec 31, 2024

$2M-23.5%EPS -$1.13

Q2 2024

Jun 30, 2024

$2M-11.9%EPS -$0.46

FY 2023

May 15, 2024

$4M-8.5%EPS $0.58

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$2M	$854.6K	$534.4K
Q4 21	$2M	$1M	$810.6K
Q2 22	$2M	$1M	$735.4K
Q4 22	$2M	$1M	$227.6K
Q2 23	$2M	$926.5K	$326.5K
Q4 23	$2M	$1M	$526.6K
Q2 24	$2M	$674.9K	-$807.2K
Q4 24	$2M	$895.8K	-$2M
Q2 25	$2M	$683.9K	-$2M

Valuation

Quarter	P/S	P/E
Q2 21	—	—
Q4 21	—	—
Q2 22	—	—
Q4 22	2.1x	8.2x
Q2 23	2.1x	9.2x
Q4 23	2.1x	10.5x
Q2 24	2.3x	45.5x
Q4 24	2.4x	—
Q2 25	2.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$1M	$1M
Q4 21	$495.0K	$462.1K
Q2 22	$923.1K	$916.9K
Q4 22	$800.1K	$800.9K
Q2 23	$501.2K	$495.1K
Q4 23	$944.7K	$944.7K
Q2 24	-$2M	-$2M
Q4 24	-$532.7K	-$590.8K
Q2 25	-$336.0K	-$340.0K

Capital Expenditures

Quarter	CapEx
Q2 21	$1.2K
Q4 21	$32.9K
Q2 22	$6.2K
Q4 22	$834
Q2 23	$6.1K
Q4 23	$0
Q2 24	$1.1K
Q4 24	$58.0K
Q2 25	$4.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	-0.4%	+15.7%
Q4 23	-1.1%	+17.4%
Q2 24	-25.5%	+71.0%
Q4 24	-25.1%	+62.6%
Q2 25	+6.5%	+151.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$0	0.0%
Q4 21	$0	0.0%
Q2 22	$0	0.0%
Q4 22	$0	0.0%
Q2 23	$0	0.0%
Q4 23	$0	0.0%
Q2 24	$0	0.0%
Q4 24	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 21	$2.5K	$306.3K	$11.4K
Q4 21	$1.3K	$353.5K	$16.8K
Q2 22	$8.5K	$316.7K	$10.5K
Q4 22	$1.7K	$1M	$10.2K
Q2 23	—	$589.9K	$10.1K
Q4 23	$1.5K	$828.7K	$10.4K
Q2 24	$13.9K	$1M	$117.3K
Q4 24	$8.1K	$2M	$416.7K
Q2 25	$2.7K	$2M	$409.4K

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q2 21	—	30.2%	—
Q4 21	—	36.0%	—
Q2 22	—	35.3%	—
Q4 22	—	10.2%	—
Q2 23	-0.4%	18.6%	18.3
Q4 23	-1.1%	23.5%	22.3
Q2 24	-25.5%	-50.6%	-76.1
Q4 24	-25.1%	-95.3%	-120.4
Q2 25	6.5%	-92.5%	-86.0

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 21	$0	$0	$0
Q4 21	$1M	$900.0K	$2M
Q2 22	$863.2K	$261.5K	$1M
Q4 22	$2M	$252.7K	$2M
Q2 23	$871.8K	$126.7K	$998.5K
Q4 23	$869.5K	$43.9K	$913.4K
Q2 24	$4M	$43.9K	$4M
Q4 24	$3M	$43.9K	$3M
Q2 25	$2M	$43.9K	$2M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	1M	—	—
Q4 21	1M	0.0%	—
Q2 22	1M	0.0%	—
Q4 22	1M	0.0%	—
Q2 23	1M	0.0%	0.0%
Q4 23	1M	0.0%	0.0%
Q2 24	2M	+5.3%	+5.3%
Q4 24	2M	+8.7%	+14.4%
Q2 25	2M	-0.0%	+14.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	—	—
Q4 21	—	—
Q2 22	—	—
Q4 22	—	—
Q2 23	—	—
Q4 23	$68.9K	33
Q2 24	$48.2K	33
Q4 24	$48.3K	36
Q2 25	$53.4K	36

Revenue / Employee