MicroCloud Hologram (HOLO) Stock Reports 39% Revenue Growth in Fiscal 2025

TLDR

• MicroCloud Hologram reported total revenue of RMB 403.7 million (~$56.5M) for fiscal 2025, up 39.1% year-over-year.
• Net loss narrowed to RMB 50.2 million ($7M) from RMB 64.2 million in 2024, showing improving efficiency.
• Customer retention rate rose to 41% in 2025, up from 34% in 2024.
• Working capital surged 70.5% to approximately RMB 2,693.7 million ($383.2M) as of December 31, 2025.
• The stock is trading near its 52-week low of $1.90, down around 94% over the past year, with a market cap of $28.7 million.

MicroCloud Hologram (HOLO) is currently trading near its 52-week low of $1.90, with a market cap of $28.7 million.

MicroCloud Hologram Inc., HOLO

MicroCloud Hologram filed its annual 20-F report with the SEC on March 27, 2026, for the fiscal year ended December 31, 2025. The report showed strong top-line growth despite the company still running at a loss.

Total revenue came in at RMB 403.7 million, or about $56.5 million. That’s a 39.1% jump from RMB 290.3 million in 2024.

The company credited the growth to rising demand for holographic solutions and an expansion of its technology services offerings. Revenue grew even as the broader stock price has been under severe pressure.

Net loss continued to shrink. The company posted a net loss of RMB 50.2 million ($7 million) in 2025, down from RMB 64.2 million the year before. That’s a meaningful step in the right direction, even if profitability remains elusive.

Customer retention also improved. The retention rate rose to 41% in 2025, up from 34% in 2024. That’s not a flashy number, but the direction is positive.

Liquidity Picture Looks Better

Working capital stood at approximately RMB 2,693.7 million ($383.2 million) at year-end 2025. That’s a 70.5% increase from RMB 1,580.2 million in 2024 — a notable jump that gives the company more financial flexibility going forward.

MicroCloud’s core services include high-precision holographic LiDAR solutions, holographic imaging technology, sensor chip design, and holographic vehicle intelligent vision technology. It also offers holographic digital twin technology services.

The company has been active on the research front. It announced development of a quantum intelligent interconnected fault-tolerant consensus algorithm aimed at financial edge computing networks.

MicroCloud also unveiled a transmission scheme for multi-particle entangled states using quantum Fourier transform, and introduced a scalable quantum Fourier transform simulator built on field-programmable gate arrays (FPGAs) and high-bandwidth memory.

A learnable quantum spectral filter technology for hybrid graph neural networks was also released — the company says it enables exponential compression in graph signal processing.

Stock Under Pressure Despite Revenue Gains

The financial improvements haven’t translated to stock performance. HOLO is down roughly 94% over the past year and trades near its 52-week low of $1.90.

The disconnect between revenue growth and stock price reflects the company’s continued losses and the gap between its $56.5 million in revenue and its $28.7 million market cap.

The annual report containing audited consolidated financial statements is available on the SEC’s website. MicroCloud said it will provide copies to shareholders upon request.

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