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DQ: financial statements from SEC — TradeAlmanac

DQ

DAQO New Energy Corp.: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	31/12/2025	31/12/2024	31/12/2023	31/12/2022
Revenue	665M	1.03B	2.31B	4.61B
Cost of revenue	803M	1.24B	1.39B	1.20B
Gross profit	−138M	−213M	921M	3.41B
Research and development	3M	5M	10M	10M
Selling, general and administrative	118M	143M	213M	354M
Operating expenses	132M	351M	137M	367M
Operating income	−270M	−564M	783M	3.04B
Pre-tax income	−237M	−518M	818M	3.06B
Income tax	−21M	−70M	166M	577M
Net income	−171M	−345M	430M	1.82B
Earnings per share	−0.51	−1.04	1.15	4.80
Earnings per share, diluted	−0.51	−1.04	1.15	4.67
Weighted average shares	337M	331M	374M	379M
Weighted average shares, diluted	337M	331M	375M	386M

Balance sheet

Metric	19/08/2026	18/08/2026	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021
Cash and equivalents	—	—	856M	1.01B	3.04B	3.50B	724M
Inventory	—	—	169M	150M

Cash flow

Metric	31/12/2025	31/12/2024	31/12/2023	31/12/2022
Operating cash flow	50M	−435M	1.62B	2.46B
Depreciation and amortisation	237M	206M	149M	107M
Share-based compensation	56M	72M	142M	307M
Capital expenditure

Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator