What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of SharonAI Holdings, Inc. Class A Common Stock (SHAZ) revenue becomes net income?

For TTM through Q1 2026, SharonAI Holdings, Inc. Class A Common Stock turned $1.54M of revenue into −$58.11M of net income — a net margin of -3784.1%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are SharonAI Holdings, Inc. Class A Common Stock (SHAZ) gross, operating, and net margins?

For TTM through Q1 2026, SharonAI Holdings, Inc. Class A Common Stock reported a gross margin of -95.1%, an operating margin of -1204.6%, and a net margin of -3784.1%. Each subtotal in the waterfall corresponds to one of these margins.

Why does SharonAI Holdings, Inc. Class A Common Stock (SHAZ) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

SharonAI Holdings, Inc. Class A Common Stock (SHAZ) Income Statement Waterfall

Revenue

$1.54M

Gross Margin

-95.1%

Operating Margin

-1204.6%

Net Margin

-3784.1%

Income statement waterfall for SharonAI Holdings, Inc. Class A Common Stock (SHAZ) — TTM through Q1 2026

Net income: −$58.11M

Margin breakdown for SharonAI Holdings, Inc. Class A Common Stock (SHAZ) — TTM through Q1 2026

Line item	Amount	Running total
Revenue	$1.54M	$1.54M
Cost of Revenue	−$3.00M	−$1.46M
Gross Profit	−$1.46M	−$1.46M
Operating Expenses	−$17.04M	−$18.50M
Operating Income	−$18.50M	−$18.50M
Other Income / Expense	−$26.53M	−$45.02M
Pre-tax Income	−$45.02M	−$45.02M
Income Tax	−$13.37M	−$58.39M
Net Loss	−$58.11M	−$58.11M

Revenue$1.54M
Cost of Revenue−$3.00M
Gross Profit−$1.46M
Operating Expenses−$17.04M
Operating Income−$18.50M
Other Income / Expense−$26.53M
Pre-tax Income−$45.02M
Income Tax−$13.37M
Net Loss−$58.11M

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