BRQSF on OTC
Borqs Technologies, Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
3.7%Gross margin2
-127.9%Operating margin2
39.4%Net margin2
-50.9%Revenue growth, 20252
79.7%Return on equity2
-$27.9MFree cash flow2
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue60¢$13.1M
- Research and development16¢$3.5M
- Income tax0¢$5.0K
- Profit24¢$5.4M
Out of $13.6M in revenue.2
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total net revenues | $13.6M | $27.7M | $20.6M |
| Total cost of revenues | -$13.1M | -$21.9M | -$16.7M |
| Total gross profit | $500.0K | $5.8M | $3.9M |
| Sales and marketing expenses | -$204.0K | -$534.0K | -$494.0K |
| General and administrative expenses | -$14.2M | -$6.5M | -$11.1M |
| Research and development expenses | -$3.5M | -$2.3M | -$3.7M |
| Total operating expenses | -$17.9M | -$9.3M | -$15.2M |
| Other operating income | $396.0K | $22.0K | |
| Operating loss | -$17.4M | -$3.1M | -$11.3M |
| Interest income | $9.0K | $9.0K | $60.0K |
| Interest expense | -$44.0K | -$1.3M | -$1.3M |
| Other income | $12.0M | $4.2M | $617.0K |
| Other expense | -$6.2M | -$210.0K | -$140.0K |
| Gain on debt settlement | $176.0K | ||
| Loss related to equity financing | -$14.2M | ||
| (Loss) gain on additional compensation to HHE | $6.0M | -$5.4M | |
| Gain on deconsolidation of subsidiaries | $21.2M | $12.6M | |
| Loss on repurchase of convertible notes | -$600.0K | ||
| Unrealized loss on trading securities | -$830.0K | ||
| Realized gain on sale of securities | $1.1M | ||
| Foreign exchange gain (loss) | -$119.0K | -$73.0K | $1.2M |
| (Loss) income from continuing operations, before income taxes | $9.7M | $17.5M | -$30.3M |
| Income tax benefit (expense) | -$5.0K | -$8.0K | $2.1M |
| Net (loss) income from continuing operations | $9.7M | $17.5M | -$28.2M |
| Income (loss) from operations of discontinued entities | -$5.0M | -$4.0K | $2.4M |
| Income tax (expense) benefit | $945.0K | -$135.0K | -$1.1M |
| Net income (loss) on discontinued operations | -$4.1M | -$139.0K | $1.3M |
| Net (loss) income | $5.7M | $17.3M | -$26.9M |
| Net (loss) income attributable to noncontrolling interest continuing operations | $287.0K | $626.0K | -$454.0K |
| Less: net (loss) income attributable to noncontrolling interest | $287.0K | $626.0K | -$454.0K |
| Net (loss) income attributable to Borqs Technologies, Inc. | $5.4M | $16.7M | -$26.5M |
| Net (loss) income attributable to ordinary shareholders | $5.4M | $16.7M | -$26.5M |
| (Loss) income per shareBasic (in Dollars per share) | $0 | $1 | -$2 |
| (Loss) income per shareDiluted (in Dollars per share) | $0 | $1 | -$2 |
| Loss per shareBasic (in Dollars per share) | -$0 | $0 | $0 |
| Loss per shareDiluted (in Dollars per share) | -$0 | $0 | $0 |
| (Loss) income per shareBasic (in Dollars per share) | $0.16 | $0.55 | -$2.03 |
| (Loss) income per shareDiluted (in Dollars per share) | $0.16 | $0.55 | -$2.03 |
| Weighted-average number of ordinary shares used in calculating continuing operationsbasic (in Shares) | 32.9M shares | 30.5M shares | 13.1M shares |
| Weighted-average number of ordinary shares used in calculating continuing operationsdiluted (in Shares) | 32.9M shares | 30.5M shares | 13.1M shares |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $2.6M | $2.0M | |
| Restricted cash | $26.0K | ||
| Time deposits | $3.4M | ||
| Short term investments | $4.9M | ||
| Accounts receivable, net (net of allowance of $nil and $56 as of December 31, 2024 and 2025, respectively) | $156.0K | $116.0K | |
| Prepaid expenses and other current assets, net (net of allowance of $392 and $1,214 as of December 31, 2024 and 2025, respectively) | $847.0K | $6.7M | |
| Current assets held for sale | $11.1M | ||
| Total current assets | $8.5M | $23.4M | |
| Property and equipment, net | $7.0K | $7.0K | |
| Right of use asset | $41.0K | $216.0K | |
| Non-current assets held for sale | $1.8M | ||
| Total non-current assets | $48.0K | $2.1M | |
| Total assets | $8.6M | $25.4M | |
| Accounts payable | $22.0K | $5.4M | |
| Accrued expenses and other payables | $1.5M | $15.3M | |
| Contract liabilities | $1.3M | ||
| Lease liabilities current | $12.0K | $179.0K | |
| Short-term bank and other borrowings | $417.0K | ||
| Income tax payable | $6.0K | ||
| Current liabilities held for sale | $4.3M | ||
| Total current liabilities | $1.6M | $26.9M | |
| Lease liabilities non-current | $30.0K | ||
| Non-current liabilities held for sale | $2.1M | ||
| Total non-current liabilities | $30.0K | $2.1M | |
| Total liabilities | $1.6M | $29.0M | |
| Additional paid-in capital | $332.5M | $330.0M | |
| Subscriptions receivable | -$16.1M | -$16.1M | |
| Statutory reserve | $1.9M | $1.9M | |
| Accumulated deficit | -$309.5M | -$314.8M | |
| Accumulated other comprehensive loss | -$2.1M | -$4.4M | |
| Total Borqs Technologies, Inc. shareholders (deficit) equity | $6.7M | -$3.4M | |
| Noncontrolling interest | $216.0K | -$193.0K | |
| Total shareholders (deficit) equity | $6.9M | -$3.6M | -$14.4M |
| Total liabilities, noncontrolling interest and shareholders equity | $8.6M | $25.4M | |
| Accounts receivable, net of allowance | $56.0K | $12.8M | |
| Prepaid expenses and other current assets, net | $1.2M | $392.0K | $405.0K |
| Ordinary shares, shares issued (in Shares) | 45.5M shares | 29.0M shares | |
| Ordinary shares, shares outstanding (in Shares) | 45.5M shares | 29.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) income | $5.7M | $17.3M | -$26.9M |
| (Reversal of provision) provision on accounts receivables & other current assets | $1.1M | $15.0K | -$501.0K |
| Depreciation of property and equipment | $19.0K | $403.0K | $424.0K |
| Amortization of right of use asset | $104.0K | $850.0K | $928.0K |
| Loss on disposal of property and equipment | $70.0K | $7.0K | |
| Loss on repurchase of convertible notes | $600.0K | ||
| Deferred income tax (benefits) expenses | -$991.0K | $84.0K | $783.0K |
| Interest expense related to debt discount | $770.0K | $700.0K | |
| Share-based compensation expenses | $2.4M | $4.0K | $6.8M |
| Gain on debt settlement | -$176.0K | ||
| Non-employee share-based compensation expenses | $47.0K | $952.0K | |
| Loss on additional compensation to HHE | $5.4M | ||
| Gain on cancellation of shares compensation to HHE | -$6.0M | ||
| Gain on disposal of subsidiaries | -$21.2M | -$12.6M | |
| Gain on debt forgiveness | -$4.7M | ||
| Gain on reversal of accrued liabilities | -$10.5M | ||
| Loss related to equity financing | $14.2M | ||
| Unrealized loss on trading securities | $830.0K | ||
| Realized gain on sale of securities | -$1.1M | ||
| Accounts receivable | $4.7M | -$3.7M | $1.1M |
| Inventories | $29.0K | $1.5M | $679.0K |
| Prepaid expenses and other current assets | -$393.0K | -$656.0K | $351.0K |
| Short term investments | -$4.6M | ||
| Accounts payable | -$4.8M | $4.1M | -$218.0K |
| Accrued expenses and other payables | -$290.0K | -$1.3M | -$5.5M |
| Advances from customers and contract liabilities | $1.2M | $1.3M | -$2.7M |
| Amounts due to related parties | $6.0K | -$3.0K | |
| Deferred revenues | -$8.0K | ||
| Long-term payable | -$417.0K | ||
| Income tax payable | -$49.0K | -$161.0K | $208.0K |
| Unrecognized tax benefit | -$2.0M | ||
| Lease liabilities | -$65.0K | -$751.0K | -$896.0K |
| Net cash used in operating activities | -$27.9M | -$2.8M | -$6.8M |
| Purchases of property and equipment | -$37.0K | -$114.0K | -$250.0K |
| Receipt of time deposit from banks | $2.7M | ||
| Investment in time deposit | -$3.4M | -$2.1M | |
| Receipt of time deposit from banks | $3.5M | ||
| Proceeds from disposal of subsidiaries | $22.5M | ||
| Proceeds from disposal of HHE | $9.9M | ||
| Additional compensation payment to a former subsidiary | -$2.7M | ||
| Net cash (used in) generated from investing activities | $25.1M | $9.9M | -$5.0M |
| Proceeds from short-term bank and other borrowings | $424.0K | ||
| Repayments of short-term bank and other borrowings | -$411.0K | ||
| Proceeds from issuance of convertible notes | $1.4M | ||
| Repurchase of convertible notes | -$4.0M | ||
| Net cash generated from (used in) financing activities | -$411.0K | -$4.0M | $1.8M |
| Effect of foreign exchange rate changes on cash and cash equivalents and restricted cash | $2.2M | -$591.0K | -$307.0K |
| Net (decrease) increase in cash and cash equivalents and restricted cash | -$943.0K | $2.5M | -$10.3M |
| Interest paid | -$44.0K | -$301.0K | -$281.0K |
| Interest received | $460.0K | $9.0K | $51.0K |
| Income tax paid | -$101.0K | ||
| Cash paid included in the measurement of lease liabilities | -$304.0K | -$843.0K | -$881.0K |
| Conversion of convertible notes | $500.0K | ||
| Issuance of shares for increase in subscription receivable | $11.1M | ||
| Cancellation of shares for decrease in subscription receivable | $9.4M | ||
| Debt settlements by issuance of ordinary shares | $1.3M |
Former names
- Pacific Special Acquisition Corp.Aug 17, 2015 to Aug 18, 20173
Recent filings
- May 15, 202620-F ANNUAL REPORT
- Apr 30, 2026NT 20-F NOTIFICATION OF LATE FILING
- Apr 10, 20263
- Mar 30, 20263
- Mar 20, 20263
- Mar 5, 20263
- Feb 27, 20263
- Dec 23, 20256-K REPORT OF FOREIGN PRIVATE ISSUER
- Oct 14, 20256-K REPORT OF FOREIGN PRIVATE ISSUER
- May 15, 202520-F ANNUAL REPORT
- Apr 30, 2025NT 20-F NOTIFICATION OF LATE FILING
- Apr 14, 20256-K REPORT OF FOREIGN PRIVATE ISSUER
- Dec 23, 20246-K REPORT OF FOREIGN PRIVATE ISSUER
- Dec 23, 20246-K REPORT OF FOREIGN PRIVATE ISSUER
- Nov 12, 20246-K REPORT OF FOREIGN PRIVATE ISSUER
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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