SAIH

MKT CAP:$20M

SAIHEAT Limited

Market Cap

$20M

Technology·Information Technology Services·🇸🇬 Singapore·NASDAQ

Technology·IT Services·🇸🇬·NASDAQ

Stock Price

$10.99+$1.26 (+12.95%)

Apr 23, 2026

Company Details

SAIHEAT Limited engages in the development of liquid-cooling data centers. It develops technologies for the advanced computing center ecosystem, a center that provides high-performance servers, liquid cooling, and systems for capturing and ...

CEO

Jianwei Li

IPO Date

Jun 28, 2021

Website

www.saiheat.com

Key Metrics TTM

Revenue

$17M

— YoY

Net Income

-$16M

EPS (Diluted)

-$10.54

Free Cash Flow

-$41.7K

Revenue / Share

$9.13

Gross Margin

-4.5%

Operating Margin

-94.5%

Net Margin

-93.3%

FCF Margin

-0.2%

P/S

1.2x

P/E

—

Earnings Reports

Q3 2025

Apr 27, 2026

PENDING

Q2 2025

Jun 29, 2025

$4MEPS -$1.57

FY 2024

Apr 28, 2025

$6M-18.2%EPS -$3.46

Q4 2024

Apr 28, 2025

$2MEPS -$2.25

FY 2023

Apr 23, 2024

$7M-36.3%EPS -$3.79

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$0	$0	-$23.0K
Q2 22	$11M	$1M	-$3M
Q4 22	-$114.0K	-$64.0K	-$4M
Q4 24	$2M	-$895.0K	-$5M
Q2 25	$4M	-$1M	-$3M

Valuation

Quarter	P/S	P/E
Q2 21	—	—
Q2 22	—	—
Q4 22	—	—
Q4 24	1.6x	—
Q2 25	1.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	-$41.7K	-$41.7K

Capital Expenditures

Quarter	CapEx
Q2 21	$3

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 25	—	+31222.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$0	—

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 21	—	—	—	$23.0K
Q2 22	—	—	—	$4M
Q4 22	$476.0K	$6M	$1M	—
Q4 24	$298.0K	—	—	$4M
Q2 25	$229.0K	—	—	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 20	$1M	$0	$1M
Q2 21	$4M	$0	$4M
Q4 21	$4M	$0	$4M
Q2 22	$17M	$0	$17M
Q4 22	$11M	$12.0K	$11M
Q2 23	$8M	$4M	$12M
Q4 23	$3M	$81.0K	$3M
Q2 24	$2M	$12.0K	$2M
Q4 24	$1M	$20.0K	$1M
Q2 25	$1M	$0	$1M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	389K	—	—
Q2 22	2M	+286.6%	—
Q4 22	1M	-12.5%	—
Q4 24	2M	+33.2%	—
Q2 25	2M	+5.0%	+373.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	—	—
Q2 22	$11	1.0M
Q4 22	-$0	1.0M
Q4 24	$2	1.0M
Q2 25	$4	1.0M

Revenue / Employee