Filing Flows › Greenland Technologies Holding (GTEC) › Q4 2024
Greenland Technologies Holding (GTEC) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 26, 2025
Greenland Technologies Holding (GTEC) reported revenue of $19.4M for the fourth quarter 2024 (Q4 2024), -15% from a year earlier and +3% from the quarter before. Operating margin was 19.4%, net earnings $7.6M (39.2% of revenue).
Greenland Technologies Holding, Q4 2024: revenue $19.4M (-15% year over year), operating margin 19.4%, net earnings $7.6M, operating cash flow $4.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.4M | +3% | -15% |
| Gross profit | $5.1M | +4% | -12% |
| Operating profit | $3.8M | +28% | +71% |
| Net earnings | $7.6M | — | — |
| Operating cash flow | $4.4M | -28% | +117% |
| Free cash flow | $3.8M | — | — |
What changed
Revenue was $19.4M in Q4 2024, down 15% year over year and up 3% from the previous quarter.
Gross margin was 26.6%, up 0.9 points from a year earlier. Operating profit was $3.8M, a 19.4% margin (up 9.8 points year over year). Operating expenses fell 62% while revenue fell 15%. Net earnings were $7.6M ($5.4M including minority interests, which bore $2.2M of losses). The effective tax rate was 11.2%. Non-operating items added $2.3M, 38% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $4.4M (up 117% year over year), 81% of net income including minority interests. Non-cash charges added back $592K of depreciation and amortization. Working capital and other items used $1.6M. Capital expenditures of $548K left free cash flow of $3.8M.
Questions
What was Greenland Technologies Holding's revenue in the fourth quarter 2024?
Greenland Technologies Holding (GTEC) reported revenue of $19.4M for the fourth quarter 2024 (Q4 2024), -15% from a year earlier and +3% from the quarter before.
Was Greenland Technologies Holding profitable in the fourth quarter 2024?
Operating profit was $3.8M (19.4% of revenue) and net earnings $7.6M.