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NaaS Technology (NAAS)
NASDAQ:NAAS
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NaaS Technology
(NASDAQ:NAAS)
Rating:41Neutral
Price Target:
$2.50
▲(12.11% Upside)
NaaS Technology (NAAS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.00M
Dividend YieldN/A
Average Volume (3M)193.31K
Price to Earnings (P/E)―
Beta (1Y)0.31
Revenue Growth-13.78%
EPS Growth38.11%
CountryUS
Employees611
SectorConsumer Cyclical
Sector Strength74
IndustrySpecialty Retail
Share Statistics
EPS (TTM)N/A
Shares Outstanding1,926,928
10 Day Avg. Volume349,002
30 Day Avg. Volume193,311
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap97.31
Enterprise Value/Revenue0.66
Enterprise Value/Gross Profit2.01
Enterprise Value/Ebitda-0.28
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
NaaS Technology Business Overview & Revenue Model
Company DescriptionNaaS Technology, a prominent player in the renewable energy sector, focuses on providing comprehensive network access solutions for electric vehicle (EV) charging. The company operates in the clean energy and technology sectors, offering a suite of services and products that facilitate the integration and operation of EV charging infrastructure. NaaS Technology leverages advanced technology to support a sustainable and efficient energy ecosystem, contributing to the global transition towards cleaner transportation options.
How the Company Makes MoneyNaaS Technology generates revenue through a variety of channels centered around its core EV charging solutions. The company earns money by providing network access services, which include the installation, maintenance, and management of EV charging stations. Additionally, NaaS Technology partners with businesses, municipalities, and other organizations to expand charging infrastructure, often through strategic alliances and collaborations. Revenue is further bolstered by service fees and usage charges from end-users utilizing the charging network. The company's financial performance is influenced by the growing demand for EV infrastructure, technological advancements, and supportive government policies promoting clean energy adoption.
NaaS Technology Earnings Call Summary
Earnings Call Date:Jun 13, 2025
(Q3-2024)
| % Change Since: -52.35%|
Next Earnings Date:Aug 25, 2025
Earnings Call Sentiment Positive
The earnings call highlighted NaaS's successful strategic shift towards high-margin core charging services, achieving its first positive non-IFRS net profit. Operational efficiency improved significantly with reduced costs and increased user activity. However, the shift away from energy solutions resulted in a decline in that segment's revenue.Q3-2024 Updates
Positive Updates
First Positive Non-IFRS Net Profit
NaaS achieved a positive non-IFRS net profit of RMB 20.6 million for the first time in a single quarter through strategic iteration, cost reduction, and efficiency gains.
Core Charging Services Revenue Growth
Revenues from core charging services increased by 36% year-over-year to RMB 42.37 million, with an all-time high gross margin of 57%.
Reduction in Operating Costs
Selling and marketing expenses as a percentage of revenue decreased from 160% in Q3 2023 to 67% in Q3 2024, significantly improving operational efficiency.
Increase in Platform User Activity
The number of users transacting through the NaaS platform grew by 30% year-over-year, with user activity hitting a record high.
Expansion of Charging Network
Notable expansion in the charging network with a partnership in Fujian, adding 100 stations and 1,600 chargers.
Negative Updates
Energy Solutions Revenue Decline
Revenue from Energy Solutions was only RMB 0.56 million due to a strategic shift away from low-margin, capital-intensive energy solutions.
Company Guidance
In the NaaS Third Quarter 2024 Earnings Call, the company announced achieving a positive non-IFRS net profit for the first time, marking a significant milestone. The non-IFRS net profit reached RMB 20.6 million, driven by strategic shifts, cost reductions, and efficiency gains. The core charging services business reported revenues of RMB 42.37 million, with a 36% year-over-year increase. The gross margin improved for the fourth consecutive quarter, reaching a record high of 57%. Operating costs were significantly reduced, with selling and marketing expenses decreasing to 67% of revenue, down from 160% the previous year. The number of users transacting through the NaaS platform increased by 30% year-over-year, contributing to enhanced profitability. Looking ahead, NaaS plans to focus on profitability, scale, and technology, leveraging AI and digitalized charging solutions to strengthen its market position.NaaS Technology Financial Statement Overview
Summary
NaaS Technology is experiencing rapid revenue growth but is challenged by significant profitability and financial stability issues. The high leverage and negative equity indicate substantial financial risk, while cash flow remains negative, raising concerns about long-term viability without strategic improvements or additional funding.Income Statement
NaaS Technology has seen significant revenue growth of over 244% from 2022 to 2023, indicating strong top-line expansion. However, the company remains unprofitable with negative EBIT and net income margins, reflecting operational inefficiencies and high costs relative to revenue.45
Neutral
Balance Sheet
The balance sheet shows a concerning negative stockholders' equity, indicating financial instability and potential insolvency risk. The high debt-to-equity ratio further exacerbates financial leverage concerns. However, cash reserves have increased, which may provide some short-term liquidity relief.30
Negative
Cash Flow
Cash flow analysis reveals negative free cash flow, though it has slightly improved from the previous year. The operating cash flow to net income ratio suggests cash burn is yet to be controlled effectively, posing a risk to sustainability without further financing.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 296.74M | 200.98M | 320.08M | 92.81M | 33.45M | 6.16M |
| Gross Profit | 96.66M | 88.54M | 88.76M | 6.17M | 3.87M | -384.00K |
| EBITDA | -701.16M | -873.31M | -1.06B | -547.41M | -247.47M | -72.59M |
| Net Income | -866.28M | -913.48M | -1.31B | -5.64B | -260.46M | -77.90M |
Balance Sheet | ||||||
| Total Assets | 1.29B | 650.64M | 1.47B | 1.11B | 178.09M | 67.60M |
| Cash, Cash Equivalents and Short-Term Investments | 374.75M | 135.79M | 534.30M | 513.35M | 8.49M | 3.67M |
| Total Debt | 1.12B | 1.07B | 1.04B | 519.34M | 19.63M | 436.75M |
| Total Liabilities | 1.51B | 1.40B | 1.51B | 667.06M | 148.65M | 1.92B |
| Stockholders Equity | -219.97M | -754.46M | -47.04M | 438.87M | 29.44M | 495.11M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -179.14M | -571.57M | -597.83M | -250.64M | -86.89M |
| Operating Cash Flow | 0.00 | -179.14M | -565.24M | -580.70M | -250.03M | -63.01M |
| Investing Cash Flow | 0.00 | -201.67M | -339.61M | -161.34M | -5.61M | 5.44M |
| Financing Cash Flow | 0.00 | 71.27M | 827.74M | 1.25B | 229.54M | 64.56M |
NaaS Technology Technical Analysis
Negative
2.23
Price Trends
3.42
Negative
5.76
Negative
19.66
Negative
Market Momentum
-0.24
Negative
37.00
Neutral
30.71
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 2.23 is below the 20-day moving average (MA) of 2.65, below the 50-day MA of 3.42, and below the 200-day MA of 19.66, indicating a bearish trend. The MACD of -0.24 indicates Negative momentum. The RSI at 37.00 is Neutral, neither overbought nor oversold. The STOCH value of 30.71 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 69 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 3 New Risks
1.
Holders of the Investor Warrants and FA Warrants will have no rights as holders of ADSs or our ordinary shares until they acquire such ADSs and underlying ordinary shares. Q4, 2023
2.
There is no public market for the Investor Warrants or FA Warrants. Q4, 2023
3.
There can be no assurance that the Investor Warrants or FA Warrants will be in the money at the time they become exercisable, and they may expire worthless. Q4, 2023
NaaS Technology Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | £1.76B | 11.18 | 4.65% | 3.23% | 0.46% | -42.18% | |
48 Neutral | $1.12B | ― | 19.14% | ― | 45.15% | -2.91% | |
44 Neutral | $226.79M | ― | -135.29% | ― | -15.71% | 47.94% | |
41 Neutral | $5.79M | ― | -1026.66% | ― | -24.26% | 93.83% | |
41 Neutral | $2.00M | ― | ― | -13.78% | 38.11% |
* Consumer Cyclical Sector Average
Performance Comparison
NAAS
NaaS Technology
2.23
-71.53
-96.98%
CHPT
ChargePoint Holdings
9.71
-24.09
-71.27%
NVVE
Nuvve Holding
0.52
-5.78
-91.75%
EVGO
EVgo
3.66
0.01
0.27%
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.