SAIHEAT Limited (SAIH) AI Stock Analysis

• Market Cap: $14.80M
• Dividend Yield: N/A
• Average Volume (3M): 4.84K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.37
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 34
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): -1.57
• Shares Outstanding: 1,267,348
• 10 Day Avg. Volume: 3,405
• 30 Day Avg. Volume: 4,837
• PEG Ratio: 0.38
• Price to Book (P/B): 1.37
• Price to Sales (P/S): 3.55
• P/FCF Ratio: -3.14
• Enterprise Value/Market Cap: 1.08
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -11.71
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: $7.00 ▼(-27.46% Downside)

The score is primarily constrained by poor financial performance (declining revenue, ongoing losses, and negative operating/free cash flow). Technical indicators are mixed but lean weak near term, while valuation is hard to justify with a negative P/E and no dividend yield support.

Positive Factors

Patent-backed innovation

Securing a patent for waste-heat recovery builds a durable IP moat around a core technology, supporting differentiation in data center and industrial cooling markets. This can enable licensing, higher margins on proprietary products, and long-term competitive advantage if commercialized successfully.

Recent revenue growth

A 20% revenue increase signals improving commercial traction and validation of product-market fit, especially amid geographic expansion to the U.S. and Canada. Sustained top-line growth supports operational scaling and enlarges the addressable market if cost structures are later optimized.

Equity base stability

A relatively stable equity position and healthy equity ratio provide a structural cushion versus highly leveraged peers, enabling continued R&D and expansion investments. This capital base improves resilience to cash flow volatility and supports longer runway for strategic initiatives.

Negative Factors

Persistent unprofitability

Consistent negative net and gross margins indicate structural cost or pricing issues that threaten long-term viability. Without sustainable margin recovery, the firm will require ongoing capital, limiting reinvestment and undermining returns to shareholders over the medium term.

Negative operating and free cash flow

Persistent negative operating and free cash flow demonstrate weak cash conversion and operational inefficiency. This constrains the company's ability to self-fund growth, increases reliance on external financing, and elevates refinancing and liquidity risk over the coming months.

Rising leverage

An increasing debt-to-equity ratio reduces financial flexibility and raises fixed obligations, which is risky given ongoing losses. Higher leverage can strain cash flow, limit strategic options, and magnify downside in cyclical or funding-constrained environments over the medium term.

SAIHEAT Limited Business Overview & Revenue Model

Company Description

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 recycling computing heat. The company was formerly known as SAI.TECH Global Corporation and changed its name to SAIHEAT Limited in August 2024. SAIHEAT Limited was founded in 2019 and is headquartered in Singapore.

How the Company Makes Money

SAIHEAT Limited generates revenue through multiple key streams. The primary source of income is the sale of heating products, including heat pumps and smart heating systems, which are marketed both to consumers and businesses. Additionally, SAIH offers installation services for its products, creating an additional revenue stream through service fees. The company also engages in partnerships with construction firms and energy service providers, which can enhance its market reach and lead to collaborative projects that further drive sales. Furthermore, SAIH may participate in government and private sector grants aimed at promoting renewable energy technologies, providing an additional avenue for funding and revenue generation.

SAIHEAT Limited Financial Statement Overview

Summary

Financial performance is weak: declining revenue, persistent net losses, negative gross/EBITDA margins, and negative operating/free cash flow. The balance sheet shows some equity stability, but rising leverage and negative ROE add risk.

Income Statement

SAIHEAT Limited has experienced a significant decline in revenue over the past years, with a negative revenue growth rate from 2023 to 2024. The company has consistently reported negative net income, resulting in a negative net profit margin. Additionally, gross profit margin has turned negative, indicating cost management issues. The EBIT and EBITDA margins are also negative, reflecting ongoing operational challenges.

Balance Sheet

The balance sheet shows a relatively stable equity position, but the debt-to-equity ratio has increased, indicating rising leverage. The equity ratio remains healthy, suggesting that the company is not overly reliant on debt. However, the negative return on equity highlights the company's inability to generate profits from its equity base.

Cash Flow

SAIHEAT Limited's cash flow statement reveals negative operating cash flow, indicating operational inefficiencies. The free cash flow has been consistently negative, although there was a slight improvement in free cash flow growth rate from 2023 to 2024. The operating cash flow to net income ratio is unfavorable, suggesting difficulties in converting earnings into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	5.54M	6.78M	10.64M	17.04M	1.96M
Gross Profit	0.00	-1.01M	457.00K	1.14M	1.26M	902.00K
EBITDA	-1.37M	-3.99M	-5.67M	-4.69M	-16.00M	405.00K
Net Income	-1.37M	-5.89M	-6.12M	-8.85M	-16.70M	403.00K
Balance Sheet
Total Assets	11.53M	18.53M	18.07M	21.10M	11.53M	4.04M
Cash, Cash Equivalents and Short-Term Investments	4.48M	1.06M	3.26M	11.23M	4.48M	1.30M
Total Debt	44.00K	2.68M	810.00K	419.00K	44.00K	0.00
Total Liabilities	13.90M	4.17M	1.26M	786.00K	13.90M	3.54M
Stockholders Equity	-2.36M	14.37M	16.82M	20.31M	-2.36M	496.00K
Cash Flow
Free Cash Flow	-666.10K	-6.27M	-8.17M	-6.80M	-4.95M	-1.79M
Operating Cash Flow	-666.11K	-5.55M	-3.13M	-4.93M	-983.00K	-1.03M
Investing Cash Flow	-44.89M	1.35M	-4.90M	-6.42M	-3.97M	-759.00K
Financing Cash Flow	45.57M	2.12M	9.00K	18.53M	8.19M	2.89M

SAIHEAT Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 9.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SAIH, the sentiment is Negative. The current price of 9.65 is above the 20-day moving average (MA) of 8.80, above the 50-day MA of 8.57, and above the 200-day MA of 7.95, indicating a bearish trend. The MACD of -0.37 indicates Positive momentum. The RSI at 34.66 is Neutral, neither overbought nor oversold. The STOCH value of 20.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SAIH.

SAIHEAT Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
LHSW	61 Neutral	$37.00M	9.92	―	―	―	―
CSPI	57 Neutral	$112.12M	-763.70	-0.27%	0.95%	6.36%	73.88%
CTM	47 Neutral	$91.29M	-14.80	-15.66%	―	11.09%	64.29%
NOTE	44 Neutral	$21.99M	-0.31	-64.09%	―	-17.90%	-67.81%
SAIH	42 Neutral	$14.80M	-1.85	-50.16%	―	―	―

SAIHEAT Limited Corporate Events

SAIHEAT Limited Secures Patent for Innovative Waste Heat Recovery System

SAIHEAT Limited announced on November 17, 2025, that it has secured a patent for a ‘Waste Heat Recovery System and Method.’ This innovation addresses the significant energy waste in mainstream server or chip cooling solutions by efficiently recovering and utilizing waste heat, thereby improving energy utilization efficiency. The patent reflects SAIHEAT’s commitment to technological innovation and its efforts to reduce energy waste and carbon emissions, contributing to green development and fulfilling its ESG responsibilities.

The most recent analyst rating on (SAIH) stock is a Sell with a $7.00 price target. To see the full list of analyst forecasts on SAIHEAT Limited stock, see the SAIH Stock Forecast page.

SAIHEAT Limited Reports Revenue Growth Amid Financial Challenges

SAIHEAT Limited reported a 20% increase in total revenue to $3.83 million for the six months ended June 30, 2025, despite a rise in gross and net losses due to increased costs and reduced Bitcoin block rewards. The company’s strategic initiatives include expanding its liquid cooling technologies in the U.S. and Canada, developing integrated natural gas power systems, and receiving approval from the IAEA for its small modular reactors, enhancing its position in the energy and mining sectors.

The most recent analyst rating on (SAIH) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on SAIHEAT Limited stock, see the SAIH Stock Forecast page.