tradmap

BQ Financials Boqii Holding Ltd

5 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has declined 19.6% per year over the past 4 years.
  • Operating margin has expanded, at -12.7% in the latest year.

Financial health

  • Total debt ($10M) exceeds cash ($5M); net debt is $5M.
  • Total debt has grown slower than revenue (-50.1% vs -19.6% per year).
  • Operating income covered interest expense -9.1× in the latest year.
  • The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
-$30M $79M $187M $0 2021 2022 2023 2024 2025
RevenueNet income
Margins (gross / operating / net)
-20% 1% 21% 0% 2021 2022 2023 2024 2025
GrossOperatingNet
Free cash flow (CFO − capex)
-$39M -$19M $0 2021 2022 2023 2024 2025
Free cash flow
Cash vs total debt
$0 $93M $187M 2021 2022 2023 2024 2025
CashTotal debt
Cash flow: operating / investing / financing
-$38M $31M $99M $0 2021 2022 2023 2024 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 $65M -$7M 21.5% -12.7% -$10M $10M $5M
2024 $98M -$9M 19.8% -8.5% -$4M $17M $10M
2023 $159M -$15M 21.4% -9.5% -$8M $99M $13M
2022 $187M -$20M 20.5% -11.7% -$24M $187M $26M
2021 $154M -$30M 18.5% -20.4% -$39M $167M $45M

Valuation over time

How the market has priced BQ against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / sales (P/S)
0.0 0.1 0.2 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/S

Frequently asked questions

Is BQ growing its revenue and profit?

Over the past 4 years, Boqii Holding Ltd's revenue has declined 19.6% per year. These are computed facts, not advice.

How much debt does BQ have?

As of FY2025, Boqii Holding Ltd reported $10M of total debt against $5M of cash; operating income covered interest expense -9.1×.

What is BQ's profit margin?

In FY2025, gross margin was 21.5%, operating margin -12.7%, and net margin -11.5%.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.