$LICN
Lichen International Ltd
CIK:0001876766|SEC Filings
Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Cash Flows from Operating Activities: | |||
| Net (loss) income | $ (21,787) | $ (6,120) | $ 8,338 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Depreciation of property and equipment | 561 | 691 | 681 |
| Amortization of intangible assets | 3,466 | 2,063 | 2,150 |
| Amortization of right-of-use assets | 122 | 121 | 92 |
| Amortization of other assets | 140 | 115 | 72 |
| Investment income | (20) | (6) | 0 |
| Loss on disposal of subsidiary | 3,865 | ||
| Goodwill impairment | 3,663 | 0 | 0 |
| Share-based compensation | 314 | 3,413 | 0 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable and contract assets | 2,065 | 642 | (982) |
| Prepayments and other current assets | (11,162) | (4,746) | (9,697) |
| Payment of deferred offering costs | 0 | 0 | 1,095 |
| Lease liabilities | (123) | (121) | (161) |
| Accounts payable | (55) | (4) | (98) |
| Contract liabilities | (420) | (326) | (94) |
| Accrued expenses and other current liabilities | 1,664 | (712) | (362) |
| Due to the related parties | 0 | 0 | (1,066) |
| Tax payables | (209) | (601) | 551 |
| Inventories | 67 | 19 | 38 |
| Net cash (used in) provided by operating activities | (17,849) | (5,572) | 557 |
| Cash Flows from Investing Activities: | |||
| The deposits for AI software | 0 | (5,897) | 0 |
| Acquisition of Bondly HK | (5,330) | (3,815) | 0 |
| Purchases of property and equipment | 0 | (36) | (3,204) |
| Purchase of intangible assets | 0 | 0 | (2,063) |
| Acquisition in long term investment | (1,152) | 0 | 0 |
| Proceeds on disposal of the subsidiary | 1,004 | 0 | 0 |
| The deposits for Haicang property | 0 | 0 | (4,598) |
| The deposits for potential acquisition | 0 | (140) | 0 |
| Net cash used in investing activities | (5,478) | (9,888) | (9,865) |
| Cash Flows from Financing Activities: | |||
| Ordinary shares issued for cash | 24,483 | 12,221 | 0 |
| Due to the related parties | (871) | 866 | |
| Proceeds from IPO | 0 | 0 | 14,098 |
| Net cash provided by financing activities | 23,612 | 13,087 | 14,098 |
| Effect of exchange rate changes on cash and cash equivalents | (83) | 3,229 | (1,533) |
| Net increase in cash and cash equivalents | 202 | 856 | 3,257 |
| Cash at the beginning of year | 26,712 | 25,856 | 22,599 |
| Cash at the end of year | 26,914 | 26,712 | 25,856 |
| Supplemental disclosures of cash flows information: | |||
| Cash paid for income taxes | 115 | 2,407 | 2,630 |
| Supplemental disclosures of non-cash flows information: | |||
| Obtaining right-of-use assets in exchange for operating lease liabilities | 607 | 54 | 23 |
| Purchase of intangible assets prepaid in prior year | 0 | 2,808 | 667 |
| Acquisition of Bondly HK | 5,292 | 2,364 | 0 |
| Accrued service fees related to the issuance of Class A Ordinary Shares | $ 1,209 | $ 0 | $ 0 |
Consolidated Balance Sheets - USD ($) |
Dec. 31, 2025 |
Dec. 31, 2024 |
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|---|---|---|---|---|---|---|
| Current assets: | ||||||
| Cash | $ 26,914,000 | $ 26,712,000 | ||||
| Accounts receivable and contract assets | 2,260,000 | 4,263,000 | ||||
| Inventories | 0 | 67,000 | ||||
| Prepayments, deposits, and other current assets | 6,992,000 | 2,968,000 | ||||
| Total current assets | 36,166,000 | 34,010,000 | ||||
| Long-term investment | 1,722,000 | 145,000 | ||||
| Property and equipment, net | 7,043,000 | 13,693,000 | ||||
| Intangible assets, net | 8,089,000 | 11,052,000 | ||||
| Right-of-use assets | 554,000 | 61,000 | ||||
| Goodwill | 791,000 | 4,454,000 | ||||
| Prepaid and other assets | 21,208,000 | 16,425,000 | ||||
| Total assets | 75,573,000 | 79,840,000 | ||||
| Current liabilities: | ||||||
| Accounts payable | 0 | 55,000 | ||||
| Accrued expenses and other current liabilities | 3,404,000 | 1,627,000 | ||||
| Contract liabilities | 285,000 | 696,000 | ||||
| Taxes payable | 780,000 | 970,000 | ||||
| Lease liabilities | 211,000 | 56,000 | ||||
| Total current liabilities | 4,680,000 | 4,270,000 | ||||
| Lease liabilities | 343,000 | 5,000 | ||||
| Total non-current liability | 343,000 | 5,000 | ||||
| Total Liabilities | 5,023,000 | 4,275,000 | ||||
| Commitments and contingencies | 0 | 0 | ||||
| Shareholders’ equity: | ||||||
| Additional paid-in capital | 51,251,000 | 33,355,000 | ||||
| Statutory surplus reserves | 1,737,000 | 1,737,000 | ||||
| Retained earnings | 20,121,000 | 42,083,000 | ||||
| Accumulated other comprehensive loss | (2,690,000) | (3,997,000) | ||||
| Total Lichen International Limited’s shareholders’ equity | 70,550,000 | 73,182,000 | ||||
| Non-controlling interest | 0 | 2,383,000 | ||||
| Total shareholders’ equity | 70,550,000 | 75,565,000 | ||||
| Total liabilities and shareholders’ equity | 75,573,000 | 79,840,000 | ||||
| Class A Ordinary Share | ||||||
| Shareholders’ equity: | ||||||
| Ordinary Share, value | [1] | 130,000 | 4,000 | |||
| Class B Ordinary Share | ||||||
| Shareholders’ equity: | ||||||
| Ordinary Share, value | [1],[2] | 1,000 | ||||
| Related Party | ||||||
| Current liabilities: | ||||||
| Due to the related parties | $ 0 | $ 866,000 | ||||
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