Infobird Co., Ltd.
IFBD Technology Software Application
Infobird Co., Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $8.7 million, up 505.6% from fiscal 2024.
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Infobird Co., Ltd. (IFBD) Beneish M-score
Infobird Co., Ltd.'s Beneish M-score for fiscal 2025 is −11.03; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −11.03 | 4.94 |
| FY2024 | −15.97 | (5.01) |
| FY2023 | −10.95 | (10.51) |
| FY2022 | −0.45 | 1.96 |
| FY2021 | −2.41 | (1.63) |
| FY2020 | −0.78 | 2.12 |
| FY2019 | −2.90 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.14 | — | 0.13 | |
| Gross margin index | 1.40 | — | 0.74 | |
| Asset quality index | 0.65 | — | 0.26 | |
| Sales growth index | 6.06 | — | 5.40 | |
| Depreciation index | 0.32 | — | 0.04 | |
| SG&A index | 0.29 | — | −0.05 | |
| Total accruals to total assets | (2.45) | — | −11.46 | |
| Leverage index | 3.83 | — | −1.25 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −11.03 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| IFBD Infobird Co., Ltd. | −11.0× |
| RCT RedCloud Holdings plc compare | −6.0× |
| RTCJF Baijiayun Group Ltd. compare | −4.1× |
| NVNIF Nvni Group Limited compare | −4.1× |
| XELA Exela Technologies, Inc. compare | −3.7× |
| INUV Inuvo, Inc compare | −3.4× |
| CYN Cyngn Inc. compare | −2.6× |
| NXTT Next Technology Holding Inc. compare | 3.1× |
| VS Versus Systems Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI