On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) announced its unaudited preliminary financial results for the full year ended December 31, 2025. The company expects to achieve record revenue and positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and improved overall profitability. The final audited financial report is expected to be released in mid-April 2026.
2025 Full-Year Financial Highlights
Revenue: Expected to range between $39 million and $41 million, setting a new company record.
Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue increased by 11% to 17% year-over-year.
Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued improvements in operational efficiency.
Adjusted EBITDA: The company expects to achieve a positive adjusted EBITDA for the full year 2025, a significant improvement from the $3.5 million loss in 2024, primarily driven by strict cost control and a higher-margin sales mix.
Core consumer food business performance
In 2025, DDC's core consumer food business maintained strong operational performance.
The company also discloses the Core Consumer Food Business Adjusted EBITDA, which further excludes costs related to the Bitcoin reserve strategy and non-cash fair value (mark-to-market) changes associated with Bitcoin holdings, providing a more accurate reflection of the core business's operating performance.
In 2025, the adjusted EBITDA for the core consumer food business is expected to be between $5.5 million and $6 million.
Bitcoin Reserve Update
In the first half of 2025, DDC launched a long-term Bitcoin accumulation strategy, establishing Bitcoin as the company’s primary reserve asset.
As of December 31, 2025: The company holds 1,183 BTC
As of February 28, 2026: holdings increased to 2,118 BTC
Today, we added 65 BTC to our holdings, bringing the company’s total BTC position to 2,183 BTC.
Norma Chu, Founder, Chairman, and CEO of DDC, said: "We are proud to have ended 2025 with record revenue and positive adjusted EBITDA, reflecting strong growth in our consumer food business and continued improvement in profitability. We are building a disciplined, growth-oriented food platform while strategically allocating capital to bitcoin assets over the long term, in alignment with our core beliefs. We believe this dual-track model—『solid consumer business + strategic bitcoin reserve』—will enable DDC to create lasting long-term value for shareholders."
Definition of Adjusted EBITDA
For the full year of 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as net income/(loss), excluding the following items:
·Interest expense
·Taxes
·Foreign exchange gain or loss
·Impairment loss on long-term assets
Depreciation and amortization
Non-cash fair value changes related to financial instruments, including Bitcoin holdings
·Equity incentive expenses
About DDC Enterprise Limited
DDC Enterprise Limited (NYSE: DDC) is actively advancing its Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.
The company has established Bitcoin as a core reserve asset and is implementing a prudent, long-term accumulation strategy. As DDC continues to expand its restaurant brand portfolio, it is increasingly becoming one of the publicly traded companies representative of integrating Bitcoin into corporate financial frameworks.
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