NaaS Technology (NAAS)
NASDAQ:NAAS
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NaaS Technology
(NASDAQ:NAAS)
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Rating:45Neutral
Price Target:
$2.00
▼(-33.33% Downside)
Action:ReiteratedDate:04/21/26
The score is driven primarily by weak financial performance (shrinking revenue, persistent losses, negative equity, and ongoing cash burn), with technicals also signaling a downtrend (price below key moving averages and negative MACD). A very low P/E provides some valuation support, but it is outweighed by the balance-sheet and cash-flow risks.
Positive Factors
Gross profit improvement
Rising gross profit dollars over 2023–2025 show improving unit economics in core charging and energy services. Higher gross margins provide a structural opportunity for operating leverage if fixed costs are controlled, improving the company's path to break‑even as scale or pricing stabilizes.
Negative Factors
Two‑year revenue decline
A steep two‑year top‑line contraction signals persistent demand loss, product/market fit challenges, or pricing pressure. Declining revenue undermines scale economics, forces higher per‑unit costs, and lengthens the runway required to achieve sustainable margins absent meaningful new customer wins or service expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross profit improvement
Rising gross profit dollars over 2023–2025 show improving unit economics in core charging and energy services. Higher gross margins provide a structural opportunity for operating leverage if fixed costs are controlled, improving the company's path to break‑even as scale or pricing stabilizes.
Read all positive factors
NaaS Technology (NAAS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.96M
Dividend YieldN/A
Average Volume (3M)14.60K
Price to Earnings (P/E)―
Beta (1Y)-0.08
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees611
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)N/A
Shares Outstanding11,641,592
10 Day Avg. Volume12,341
30 Day Avg. Volume14,597
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)-0.09
Price to Sales (P/S)0.59
P/FCF Ratio-2.29
Enterprise Value/Market Cap21.73
Enterprise Value/Revenue3.33
Enterprise Value/Gross Profit4.44
Enterprise Value/Ebitda-0.80
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
NaaS Technology Business Overview & Revenue Model
Company Description
NaaS Technology Inc. provides electric vehicle (EV) charging services in China. It serves charging station operators, charger manufacturers, EV OEMs, and other end-users. The company was founded in 2019 and is based in Beijing, China....
How the Company Makes Money
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NaaS Technology Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
8
Very Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 156.29M | 121.73M | 200.98M | 320.08M | 92.81M | 33.45M |
| Gross Profit | 117.26M | 104.59M | 88.54M | 88.76M | 6.17M | 3.87M |
| EBITDA | -651.13M | -180.10M | -873.31M | -1.06B | -547.41M | -247.47M |
| Net Income | -484.54M | -427.00M | -913.48M | -1.31B | -5.64B | -260.46M |
Balance Sheet | ||||||
| Total Assets | 620.74M | 451.22M | 650.64M | 1.47B | 1.11B | 178.09M |
| Cash, Cash Equivalents and Short-Term Investments | 74.77M | 81.21M | 135.79M | 534.30M | 513.35M | 8.49M |
| Total Debt | 845.98M | 607.74M | 1.07B | 1.04B | 519.34M | 19.63M |
| Total Liabilities | 1.26B | 1.21B | 1.40B | 1.51B | 667.06M | 148.65M |
| Stockholders Equity | -637.13M | -796.13M | -754.46M | -47.04M | 438.87M | 29.44M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -31.41M | -179.14M | -571.57M | -597.83M | -250.64M |
| Operating Cash Flow | 0.00 | -31.41M | -179.14M | -565.24M | -580.70M | -250.03M |
| Investing Cash Flow | 0.00 | 11.80M | -201.67M | -339.61M | -161.34M | -5.61M |
| Financing Cash Flow | 0.00 | -23.66M | 71.27M | 827.74M | 1.25B | 229.54M |
NaaS Technology Technical Analysis
Negative
3.00
Price Trends
2.34
Negative
2.85
Negative
3.05
Negative
Market Momentum
-0.01
Positive
46.36
Neutral
29.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NAAS, the sentiment is Negative. The current price of 3 is above the 20-day moving average (MA) of 2.43, above the 50-day MA of 2.34, and below the 200-day MA of 3.05, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 46.36 is Neutral, neither overbought nor oversold. The STOCH value of 29.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NAAS.
NaaS Technology Risk Analysis
NaaS Technology disclosed 67 risk factors in its most recent earnings report. NaaS Technology reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NaaS Technology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
49 Neutral | $165.79M | -0.64 | -353.75% | ― | -1.40% | 27.85% | |
49 Neutral | $667.93M | -20.28 | 53.80% | ― | 49.55% | 24.42% | |
45 Neutral | $23.96M | -0.17 | ― | ― | ― | ― | |
42 Neutral | $1.82M | -0.10 | -3734.39% | ― | -8.90% | 80.07% |
* Consumer Cyclical Sector Average
NAAS
NaaS Technology
2.04
-3.24
-61.36%
CHPT
ChargePoint Holdings
6.52
-5.94
-47.67%
NVVE
Nuvve Holding
0.31
-35.65
-99.14%
EVGO
EVgo
2.10
-0.66
-23.91%
NaaS Technology Corporate Events
NaaS Technology Narrows Annual Losses but Revenues Decline Through 2025
Apr 16, 2026
NaaS Technology Inc. has reported audited consolidated financial results for the years ended December 31, 2023, 2024, and 2025, showing a shift in its revenue mix across charging services, energy solutions, and new initiatives. Total revenues decl...
NaaS Technology Sets April 29, 2026 Extraordinary General Meeting for Shareholder Votes
Apr 2, 2026
NaaS Technology Inc., the first U.S.-listed EV charging service company in China and a subsidiary of Newlinks Technology Limited, focuses on digitalized new energy asset operations that intelligently connect EV charging demand with available infra...
NaaS Technology Resets Share Capital, Alters Warrants and Raises $3.3 Million in March 2026 Financing
Mar 6, 2026
On January 23, 2026, NaaS shareholders approved, and on January 29, 2026 made effective, a Fourth Amended and Restated Memorandum and Articles of Association that cut the par value of each share from US$0.01 to US$0.000001, reducing total authoriz...
NaaS Technology Flags Nasdaq Market Value and Listing Standard Deficiencies
Feb 20, 2026
On February 20, 2026, NaaS Technology Inc. disclosed that it received a February 17 notice from Nasdaq indicating the company is not in compliance with the US$35 million minimum market value of listed securities requirement for continued listing o...
NaaS Technology Switches Auditors, Appoints Guangdong Prouden CPAs After Enrome Resignation
Feb 5, 2026
On February 5, 2026, NaaS Technology Inc. reported that its board and audit committee had accepted the resignation of Enrome LLP as its independent registered public accounting firm and appointed Guangdong Prouden CPAs GP to audit its consolidated...
NaaS Technology Shareholders Approve Capital and Charter Changes at January 23, 2026 EGM
Jan 26, 2026
On January 23, 2026, NaaS Technology Inc. held an extraordinary general meeting of shareholders in Langfang, Hebei Province, at which investors approved all three resolutions proposed in the meeting notice. Shareholders passed a special resolution...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.