NASDAQ : AXG
Solowin Holdings — Financial statements
Financials · Capital Markets · Hong Kong
Last price 1.82 USD (Nov 2, 2026, 4:00 PM EST) · Market cap 1.76M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Solowin Holdings (AXG) reported revenue of 27.59M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 30.00K | 128.00K | 27.00K | 351.00K | ||
| Total Interest Expense | 5.00K | 229.00K | ||||
| Net Interest Income | 25.00K | 128.00K | 27.00K | 122.00K | ||
| Brokerage Commission | 3.57M | 3.57M | 110.00K | 312.00K | 74.00K | 1.84M |
| Asset Management Fee | 593.00K | 593.00K | 655.00K | 871.00K | 389.00K | 333.00K |
| Underwriting & Investment Banking Fee | 23.88M | 23.88M | 2.02M | 2.98M | 2.52M | 728.00K |
| Other Revenue | 1.45M | |||||
| Revenue Before Loan Losses | 28.05M | 28.05M | 2.81M | 4.29M | 4.45M | 3.03M |
| Provision for Loan Losses | 453.00K | 453.00K | -502.00K | 854.00K | 18.00K | 99.00K |
| Revenue | 27.59M | 27.59M | 3.32M | 3.44M | 4.43M | 2.93M |
| Salaries & Employee Benefits | 8.96M | 8.96M | 2.29M | 5.04M | 1.29M | 944.00K |
| Cost of Services Provided | 10.34M | 10.34M | 9.16M | 2.82M | 1.84M | 3.16M |
| Total Operating Expenses | 19.31M | 19.31M | 11.45M | 7.87M | 3.13M | 4.10M |
| Operating Income | 8.29M | 8.29M | -8.14M | -4.43M | 1.30M | -1.18M |
| Currency Exchange Gains | 19.00K | 19.00K | 14.00K | 11.00K | 16.00K | |
| Other Non-Operating Income (Expenses) | -21.66M | -21.66M | 48.00K | 29.00K | -12.00K | 181.00K |
| EBT Excluding Unusual Items | -13.33M | -13.33M | -8.13M | -4.40M | 1.30M | -979.00K |
| Gain (Loss) on Sale of Investments | -390.00K | |||||
| Other Unusual Items | 39.00K | 39.00K | 3.00K | 49.00K | ||
| Pretax Income | -13.29M | -13.29M | -8.52M | -4.40M | 1.35M | -979.00K |
| Income Tax Expense | 19.00K | 155.00K | ||||
| Earnings From Continuing Ops. | -13.29M | -13.29M | -8.54M | -4.56M | 1.35M | -979.00K |
| Minority Interest in Earnings | 114.00K | 114.00K | ||||
| Net Income | -13.17M | -13.17M | -8.54M | -4.56M | 1.35M | -979.00K |
| Net Income to Common | -13.17M | -13.17M | -8.54M | -4.56M | 1.35M | -979.00K |
| Shares Outstanding (Basic) | 624.49K | 624.49K | 80.64K | 68.62K | 60.00K | 51.82K |
| Shares Outstanding (Diluted) | 624.49K | 624.49K | 80.64K | 68.62K | 60.00K | 51.82K |
| EPS (Basic) | -21.10 | -21.10 | -105.88 | -66.39 | 22.48 | -18.89 |
| EPS (Diluted) | -21.10 | -21.10 | -105.88 | -66.39 | 22.48 | -18.89 |
| Free Cash Flow | -15.52M | -15.52M | -1.15M | -5.75M | -451.00K | -5.75M |
| Free Cash Flow Per Share | -24.85 | -24.85 | -14.20 | -83.76 | -7.52 | -111.05 |
| Operating Margin | 30.04% | 30.04% | -245.39% | -128.89% | 29.34% | -40.16% |
| Profit Margin | -47.74% | -47.74% | -257.48% | -132.56% | 30.42% | -33.44% |
| Free Cash Flow Margin | -56.25% | -56.25% | -34.53% | -167.24% | -10.17% | -196.55% |
| Revenue as Reported | 28.05M | 28.05M | 2.82M | 4.29M | 4.45M | 3.26M |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 16.80M | 16.80M | 3.84M | 2.14M | 1.93M | 977.00K |
| Accounts Receivable | 12.31M | 12.31M | 211.00K | 3.55M | 1.58M | 449.00K |
| Other Receivables | 5.92M | 5.92M | 62.00K | 600.00K | 115.00K | 522.00K |
| Property, Plant & Equipment | 2.74M | 2.74M | 828.00K | 1.21M | 283.00K | 140.00K |
| Goodwill | 47.00K | 47.00K | ||||
| Other Intangible Assets | 607.00K | 607.00K | 86.00K | 77.00K | 64.00K | 64.00K |
| Investments in Debt & Equity Securities | 494.00K | 494.00K | 368.00K | |||
| Restricted Cash | 2.24M | 2.24M | 5.02M | 5.11M | 5.59M | 7.10M |
| Other Current Assets | 379.00K | 379.00K | 527.00K | 1.39M | 513.00K | 53.00K |
| Other Long-Term Assets | 9.16M | 9.16M | 1.37M | 1.32M | 156.00K | 158.00K |
| Total Assets | 50.71M | 50.71M | 12.31M | 15.40M | 10.23M | 9.46M |
| Accounts Payable | 13.29M | 13.29M | 5.02M | 5.11M | 6.35M | 7.29M |
| Accrued Expenses | 2.40M | 2.40M | 524.00K | 232.00K | 163.00K | 74.00K |
| Short-Term Debt | 5.23M | 5.23M | 420.00K | 6.00K | 6.00K | |
| Current Portion of Leases | 1.22M | 1.22M | 577.00K | 631.00K | 156.00K | 98.00K |
| Other Current Liabilities | 2.22M | 2.22M | 951.00K | 3.00K | ||
| Long-Term Leases | 1.23M | 1.23M | 83.00K | 439.00K | 95.00K | |
| Total Liabilities | 25.59M | 25.59M | 7.58M | 6.48M | 6.89M | 7.46M |
| Common Stock | 19.00K | 19.00K | 2.00K | 1.00K | 1.00K | 1.00K |
| Additional Paid-In Capital | 52.83M | 52.83M | 19.22M | 14.91M | 4.79M | 4.79M |
| Retained Earnings | -27.70M | -27.70M | -14.52M | -5.98M | -1.43M | -2.78M |
| Comprehensive Income & Other | 21.00K | 21.00K | 32.00K | -1.00K | -17.00K | -9.00K |
| Total Common Equity | 25.17M | 25.17M | 4.73M | 8.92M | 3.34M | 2.00M |
| Minority Interest | -63.00K | -63.00K | ||||
| Shareholders' Equity | 25.11M | 25.11M | 4.73M | 8.92M | 3.34M | 2.00M |
| Total Liabilities & Equity | 50.71M | 50.71M | 12.31M | 15.40M | 10.23M | 9.46M |
| Total Debt | 7.69M | 7.69M | 1.08M | 1.08M | 257.00K | 98.00K |
| Net Cash (Debt) | 9.12M | 9.12M | 2.76M | 1.06M | 1.67M | 879.00K |
| Net Cash Per Share | 14.60 | 14.60 | 34.20 | 15.51 | 27.80 | 16.96 |
| Filing Date Shares Outstanding | 965.52K | 965.52K | 82.40K | 79.90K | 60.00K | 60.00K |
| Total Common Shares Outstanding | 944.77K | 944.77K | 82.40K | 77.50K | 60.00K | 60.00K |
| Working Capital | 13.30M | 13.30M | 2.16M | 6.76M | 2.93M | 1.64M |
| Book Value Per Share | 26.65 | 26.65 | 57.42 | 115.15 | 55.68 | 33.33 |
| Tangible Book Value | 24.52M | 24.52M | 4.64M | 8.85M | 3.28M | 1.94M |
| Tangible Book Value Per Share | 25.95 | 25.95 | 56.37 | 114.15 | 54.62 | 32.27 |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -13.17M | -13.17M | -8.54M | -4.56M | 1.35M | -979.00K |
| Depreciation & Amortization, Total | 138.00K | 138.00K | 99.00K | 30.00K | 18.00K | 19.00K |
| Gain (Loss) On Sale of Investments | 390.00K | |||||
| Stock-Based Compensation | 3.22M | 3.22M | 3.31M | 3.81M | ||
| Change in Accounts Receivable | -12.48M | -12.48M | 3.43M | -2.41M | -1.15M | -189.00K |
| Change in Accounts Payable | -2.19M | -2.19M | -89.00K | -1.24M | -941.00K | -4.69M |
| Change in Other Net Operating Assets | 8.59M | 8.59M | 868.00K | -2.01M | 144.00K | -169.00K |
| Other Operating Activities | 118.00K | 118.00K | -26.00K | -26.00K | 171.00K | |
| Operating Cash Flow | -15.34M | -15.34M | -1.06M | -5.61M | -443.00K | -5.74M |
| Capital Expenditures | -186.00K | -186.00K | -88.00K | -141.00K | -8.00K | -17.00K |
| Cash Acquisitions | 5.30M | 5.30M | ||||
| Sale (Purchase) of Intangibles | -540.00K | -540.00K | -27.00K | -20.00K | ||
| Investment in Securities | -126.00K | -126.00K | -608.00K | -257.00K | ||
| Other Investing Activities | 233.00K | 131.00K | ||||
| Investing Cash Flow | 4.45M | 4.45M | 287.00K | -1.38M | 225.00K | 114.00K |
| Short-Term Debt Issued | 1.36M | 3.00K | 6.00K | |||
| Long-Term Debt Issued | 5.00M | 5.00M | ||||
| Total Debt Issued | 5.00M | 5.00M | 1.36M | 3.00K | 6.00K | |
| Long-Term Debt Repaid | -804.00K | -804.00K | ||||
| Net Debt Issued (Repaid) | 4.20M | 4.20M | 1.36M | 3.00K | 6.00K | |
| Issuance of Common Stock | 16.88M | 16.88M | 1.00M | 7.07M | 1.52M | |
| Other Financing Activities | 14.00K | -348.00K | -347.00K | -60.00K | ||
| Financing Cash Flow | 21.07M | 21.07M | 2.38M | 6.72M | -341.00K | 1.46M |
| Net Cash Flow | 10.19M | 10.19M | 1.61M | -263.00K | -559.00K | -4.16M |
| Free Cash Flow | -15.52M | -15.52M | -1.15M | -5.75M | -451.00K | -5.75M |
| Free Cash Flow Margin | -56.25% | -56.25% | -34.53% | -167.24% | -10.17% | -196.55% |
| Free Cash Flow Per Share | -24.85 | -24.85 | -14.20 | -83.76 | -7.52 | -111.05 |
| Cash Interest Paid | 229.00K | |||||
| Cash Income Tax Paid | 74.00K | 101.00K |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.76M | 665.12M | 25.71M | 87.08M | ||
| Last Close Price | 1.94 | 704.00 | 318.00 | 1,244.00 | ||
| PS Ratio | 0.07 | 24.10 | 7.75 | 25.34 | ||
| PB Ratio | 0.07 | 26.49 | 5.43 | 9.76 | ||
| Debt / Equity Ratio | 0.31 | 0.31 | 0.23 | 0.12 | 0.08 | 0.05 |
| Net Debt / Equity Ratio | -0.36 | -0.36 | -0.58 | -0.12 | -0.50 | -0.44 |
| Net Debt / FCF Ratio | 0.59 | 0.59 | 2.41 | 0.18 | 3.70 | 0.15 |
| Asset Turnover | 0.88 | 0.88 | 0.24 | 0.27 | 0.45 | 0.25 |
| Quick Ratio | 1.44 | 1.44 | 0.55 | 1.04 | 0.53 | 0.26 |
| Current Ratio | 1.55 | 1.55 | 1.29 | 2.12 | 1.43 | 1.22 |
| Return on Equity (ROE) | -89.06% | -89.06% | -125.05% | -74.29% | 50.52% | -56.52% |
| Return on Assets (ROA) | -42.18% | -42.18% | -61.63% | -35.55% | 13.71% | -8.45% |
| Earnings Yield | -1,159.10% | -1.98% | -33.20% | -5.23% | ||
| FCF Yield | -828.62% | -2.33% | -4.45% | -6.60% | ||
| Buyback Yield / Dilution | -674.45% | -674.45% | -17.51% | -14.37% | -15.78% | -28.25% |