PDD Balance Sheet, Income & Cash Flow

Income Statement PDD
Line item	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	LTM
Revenue	44.81	58.69	73.48	73.78	81.90	84.06	74.67	64.51	70.17	72.74	82.20	71.34	297.33
Cost of Revenue	16.02	22.87	27.67	27.79	28.43	33.60	32.27	27.61	30.94	31.47	36.59	31.49	130.88
Gross Profit	28.79	35.81	45.81	45.99	53.46	50.46	42.40	36.90	39.22	41.28	45.61	39.85	166.45
Research & Development	2.34	2.43	2.46	2.47	2.45	2.59	2.55	2.41	2.42	2.91	3.31	2.97	11.65
Selling, General & Administrative	0.51	0.65	1.54	1.55	1.55	1.53	1.41	1.12	1.03	1.18	25.27	2.17	29.77
Total Operating Expenses	17.89	21.61	23.82	23.92	25.99	29.91	25.13	26.05	21.82	24.46	27.22	25.65	99.44
Operating Income	10.90	14.20	21.99	22.08	27.48	20.55	17.28	10.85	17.40	16.81	18.39	14.20	67.01
Interest Expense	0.01	0.01	0.01	0.01	0.00	0.00	0.00	–	–	–	–	0.43	–
Pre-Tax Income	13.94	16.24	28.03	28.10	32.00	24.69	21.96	12.96	23.98	22.38	21.88	11.19	79.69
Income Tax Expense	2.71	3.00	4.29	4.31	4.99	3.55	3.43	3.02	3.23	2.68	5.60	2.76	14.32
Net Income	11.24	13.25	23.70	23.80	27.01	21.13	18.53	9.94	20.75	19.70	16.28	8.43	65.38
EBITDA	14.43	16.73	22.15	28.27	27.64	24.69	17.41	13.08	24.10	22.38	18.39	11.19	76.30

Data as of: August 13, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

Income Statement