Moore Threads posts 1,773.92% Q3 revenue growth and swings to profit

On October 28, 2026, Moore Threads released its financial report covering the third quarter and the first three quarters of 2026, and 36Kr, Wall StreetCN, and IT Home reported the figures shortly after. In Q3 2026 (July to September), the company posted total operating revenue of CNY 1.552 billion, up 1773.92% year over year, roughly 18.7 times the level of the same period a year earlier. Net profit attributable to shareholders was CNY 49.2604 million, and net profit after deducting non-recurring items was CNY 20.0724 million, so the company turned profitable within a single quarter. For the first three quarters of 2026 (January to September), total operating revenue reached CNY 3.289 billion, up 319.15% year over year. Net profit attributable to shareholders was CNY 37.6973 million, compared with a loss of CNY 724 million in the same period last year, marking an turnaround; however, net profit after deducting non-recurring items remained negative at CNY 131 million, with the loss narrowing sharply.

Other financial details include: gross profit of CNY 1.766 billion for the first three quarters, up 263.88% year over year; a gross margin of 53.71%, down 8.16 percentage points; a weighted average return on equity of 0.32%; basic earnings per share of CNY 0.08; and a debt-to-asset ratio of 32.45%. In Q3, the weighted average return on equity was 0.41% and basic earnings per share were CNY 0.10. Research and development spending for the first three quarters totaled CNY 1.34 billion, up 55.72% year over year. Operating cash flow stood at negative CNY 3.309 billion, which the company attributed to expanded production and strategic inventory stocking aimed at meeting demand growth and safeguarding supply chain resilience.

On the drivers behind the growth, the company said revenue expansion was mainly due to the accelerated deployment of its intelligent computing products in the AI computing infrastructure industry. It cited strong demand for high-quality computing power and full-function GPUs, and said it has strategically built three major AI factories: model training, token production, and agent production. Its intelligent computing products, represented by MTTS5000, have been recognized by customers and deployed in scenarios such as internet and cloud service providers, token service providers, AI startups, telecom operators and intelligent computing centers, research institutions and government enterprises, and other industry customers.