NASDAQ : GSIW
Garden Stage Limited — Financial statements
Financials · Capital Markets · Hong Kong
Last price 9.615 USD (Oct 30, 2026, 1:04 PM EDT) · Market cap 103.00M
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Financial statements
Garden Stage Limited (GSIW) reported revenue of 7.24M 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 | 254.99K | 254.99K | 63.30K | 43.93K | 101.47K | 64.18K |
| Net Interest Income | 254.99K | 254.99K | 63.30K | 43.93K | 101.47K | 64.18K |
| Brokerage Commission | 980.26K | 980.26K | 329.25K | 398.18K | 900.91K | 1.48M |
| Asset Management Fee | 495.10K | 495.10K | 60.01K | 33.46K | 23.16K | |
| Underwriting & Investment Banking Fee | 1.44M | 1.44M | 114.09K | 152.64K | 1.57M | 355.37K |
| Other Revenue | 4.11M | 4.11M | 4.90M | 813.73K | 648.84K | 386.99K |
| Revenue Before Loan Losses | 7.28M | 7.28M | 5.47M | 1.41M | 3.26M | 2.31M |
| Provision for Loan Losses | 36.85K | 36.85K | 98.02K | 7.67K | ||
| Revenue | 7.24M | 7.24M | 5.37M | 1.40M | 3.26M | 2.31M |
| Salaries & Employee Benefits | 7.66M | 7.66M | 3.72M | 3.29M | 2.10M | 1.41M |
| Cost of Services Provided | 12.31M | 12.31M | 5.85M | 2.68M | 1.35M | 1.40M |
| Total Operating Expenses | 21.09M | 21.09M | 9.63M | 5.98M | 3.47M | 2.82M |
| Operating Income | -13.85M | -13.85M | -4.26M | -4.58M | -207.69K | -510.11K |
| EBT Excluding Unusual Items | -13.85M | -13.85M | -4.26M | -4.58M | -207.69K | -510.11K |
| Gain (Loss) on Sale of Investments | -11.14K | -11.14K | ||||
| Pretax Income | -13.86M | -13.86M | -4.27M | -4.58M | -207.69K | -510.11K |
| Income Tax Expense | -22.79K | -22.79K | 43.23K | 13.36K | -524.00 | 792.00 |
| Net Income | -13.84M | -13.84M | -4.32M | -4.59M | -207.17K | -510.90K |
| Net Income to Common | -13.84M | -13.84M | -4.32M | -4.59M | -207.17K | -510.90K |
| Shares Outstanding (Basic) | 10.00M | 10.00M | 9.28M | 9.27M | 57.38K | 46.02K |
| Shares Outstanding (Diluted) | 10.00M | 10.00M | 9.28M | 9.27M | 57.38K | 46.02K |
| EPS (Basic) | -1.38 | -1.38 | -0.47 | -0.49 | -3.61 | -11.10 |
| EPS (Diluted) | -1.38 | -1.38 | -0.47 | -0.49 | -3.61 | -11.10 |
| Free Cash Flow | -4.34M | -4.34M | -1.37M | -7.09M | -1.90M | -6.94M |
| Free Cash Flow Per Share | -0.43 | -0.43 | -0.15 | -0.77 | -33.09 | -150.78 |
| Operating Margin | -191.24% | -191.24% | -79.34% | -326.68% | -6.37% | -22.12% |
| Profit Margin | -191.08% | -191.08% | -80.43% | -327.63% | -6.36% | -22.15% |
| Free Cash Flow Margin | -59.91% | -59.91% | -25.46% | -506.30% | -58.25% | -300.82% |
| Revenue as Reported | 7.28M | 7.28M | 5.47M | 1.41M | 3.26M | 2.31M |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 6.83M | 6.83M | 624.58K | 2.67M | 828.69K | 838.05K |
| Accounts Receivable | 8.75M | 8.75M | 1.73M | 861.71K | 6.11M | 2.05M |
| Other Receivables | 4.10K | 4.10K | 3.86K | |||
| Property, Plant & Equipment | 248.63K | 248.63K | 350.53K | 301.20K | 91.06K | 148.25K |
| Other Intangible Assets | 11.10M | 11.10M | 64.27K | 63.89K | 63.69K | 63.84K |
| Investments in Debt & Equity Securities | 31.15K | 31.15K | ||||
| Restricted Cash | 10.69M | 10.69M | 7.26M | 6.27M | 5.49M | 7.00M |
| Other Current Assets | 3.24M | 3.24M | 4.15M | 2.45M | 71.89K | 38.73K |
| Long-Term Deferred Tax Assets | 45.56K | 45.56K | 23.91K | 2.66K | 163.00 | |
| Other Long-Term Assets | 25.93K | 25.93K | 1.69M | 3.96M | 29.30K | 48.58K |
| Total Assets | 41.93M | 41.93M | 15.90M | 16.58M | 13.13M | 10.23M |
| Accounts Payable | 16.93M | 16.93M | 8.43M | 6.91M | 10.29M | 7.86M |
| Accrued Expenses | 208.33K | 208.33K | 284.71K | 83.48K | 23.13K | 70.84K |
| Current Portion of Leases | 80.70K | 80.70K | 117.82K | 91.99K | 69.58K | 68.02K |
| Other Current Liabilities | 330.10K | 330.10K | 223.65K | 802.00K | 2.04M | |
| Long-Term Leases | 81.28K | 197.93K | 69.74K | |||
| Long-Term Deferred Tax Liabilities | 361.00 | |||||
| Total Liabilities | 17.70M | 17.70M | 9.20M | 7.30M | 11.18M | 10.10M |
| Common Stock | 30.17K | 30.17K | 1.56K | 1.56K | 1.15K | 1.15K |
| Additional Paid-In Capital | 47.33M | 47.33M | 15.72M | 14.03M | 2.02M | |
| Retained Earnings | -22.82M | -22.82M | -8.99M | -4.67M | -79.50K | 127.67K |
| Comprehensive Income & Other | -310.35K | -310.35K | -30.91K | -80.82K | 1.03K | -120.00 |
| Shareholders' Equity | 24.22M | 24.22M | 6.70M | 9.29M | 1.95M | 128.70K |
| Total Liabilities & Equity | 41.93M | 41.93M | 15.90M | 16.58M | 13.13M | 10.23M |
| Total Debt | 80.70K | 80.70K | 199.10K | 289.92K | 69.58K | 137.76K |
| Net Cash (Debt) | 6.75M | 6.75M | 425.48K | 2.38M | 759.11K | 700.29K |
| Net Cash Per Share | 0.68 | 0.68 | 0.05 | 0.26 | 13.23 | 15.22 |
| Filing Date Shares Outstanding | 10.71M | 10.71M | 78.12K | 78.12K | 57.38K | |
| Total Common Shares Outstanding | 10.71M | 10.71M | 78.12K | 78.12K | 57.38K | |
| Working Capital | 12.77M | 12.77M | 4.66M | 5.16M | 1.32M | -97.61K |
| Book Value Per Share | 2.26 | 2.26 | 85.79 | 118.85 | 33.93 | |
| Tangible Book Value | 13.12M | 13.12M | 6.64M | 9.22M | 1.88M | 64.86K |
| Tangible Book Value Per Share | 1.22 | 1.22 | 84.97 | 118.04 | 32.82 |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -13.84M | -13.84M | -4.32M | -4.59M | -207.17K | -510.90K |
| Depreciation & Amortization, Total | 1.22M | 1.22M | 155.46K | 80.52K | 79.13K | 10.89K |
| Gain (Loss) On Sale of Investments | -2.97K | -2.97K | ||||
| Stock-Based Compensation | 4.53M | 4.53M | 1.68M | 1.87M | ||
| Change in Accounts Receivable | -7.10M | -7.10M | -963.43K | 5.27M | -4.07M | 507.64K |
| Change in Accounts Payable | 8.60M | 8.60M | 1.47M | -3.41M | 2.45M | -6.95M |
| Change in Other Net Operating Assets | 3.20M | 3.20M | 669.17K | -6.33M | -132.12K | 26.12K |
| Other Operating Activities | -16.35K | -16.35K | -10.92K | -775.00 | 1.92K | 1.08K |
| Operating Cash Flow | -4.23M | -4.23M | -1.15M | -7.09M | -1.88M | -6.92M |
| Capital Expenditures | -104.71K | -104.71K | -218.24K | -1.45K | -22.19K | -18.31K |
| Cash Acquisitions | -5.05M | -5.05M | ||||
| Sale (Purchase) of Intangibles | -1.13M | -1.13M | ||||
| Investment in Securities | -28.31K | -28.31K | ||||
| Investing Cash Flow | -6.31M | -6.31M | -218.24K | -1.45K | -22.19K | -18.31K |
| Short-Term Debt Issued | 263.49K | 539.00 | ||||
| Total Debt Issued | 263.49K | 539.00 | ||||
| Short-Term Debt Repaid | -242.72K | -242.72K | -3.90K | |||
| Total Debt Repaid | -242.72K | -242.72K | -3.90K | |||
| Net Debt Issued (Repaid) | -242.72K | -242.72K | 263.49K | -3.90K | 539.00 | |
| Issuance of Common Stock | 20.64M | 20.64M | 10.13M | 796.00K | ||
| Other Financing Activities | -435.83K | -407.65K | -35.97K | |||
| Financing Cash Flow | 20.40M | 20.40M | 263.49K | 9.69M | 388.35K | -35.43K |
| Foreign Exchange Rate Adjustments | -216.71K | -216.71K | 50.75K | 19.27K | -15.46K | -85.44K |
| Net Cash Flow | 9.64M | 9.64M | -1.05M | 2.62M | -1.53M | -7.06M |
| Free Cash Flow | -4.34M | -4.34M | -1.37M | -7.09M | -1.90M | -6.94M |
| Free Cash Flow Margin | -59.91% | -59.91% | -25.46% | -506.30% | -58.25% | -300.82% |
| Free Cash Flow Per Share | -0.43 | -0.43 | -0.15 | -0.77 | -33.09 | -150.78 |
| Cash Income Tax Paid | 66.95K | 66.95K | 16.57K | -83.11K |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 102.09M | 22.22M | 7.50M | 106.88M | ||
| Last Close Price | 9.12 | 16.70 | 96.00 | 1,368.00 | ||
| PS Ratio | 14.10 | 3.07 | 1.40 | 76.30 | ||
| PB Ratio | 4.03 | 0.92 | 1.12 | 11.51 | ||
| Debt / Equity Ratio | 0.00 | 0.00 | 0.03 | 0.03 | 0.04 | 1.07 |
| Net Debt / Equity Ratio | -0.28 | -0.28 | -0.06 | -0.26 | -0.39 | -5.44 |
| Net Debt / FCF Ratio | 1.56 | 1.56 | 0.31 | 0.34 | 0.40 | 0.10 |
| Asset Turnover | 0.25 | 0.25 | 0.33 | 0.09 | 0.28 | 0.17 |
| Quick Ratio | 0.88 | 0.88 | 0.26 | 0.50 | 0.62 | 0.29 |
| Current Ratio | 1.72 | 1.72 | 1.51 | 1.73 | 1.12 | 0.99 |
| Return on Equity (ROE) | -89.50% | -89.50% | -54.01% | -81.72% | -19.96% | -132.58% |
| Return on Assets (ROA) | -47.86% | -47.86% | -26.58% | -30.89% | -1.77% | -3.66% |
| Earnings Yield | -14.52% | -62.28% | -57.57% | -4.29% | ||
| FCF Yield | -4.25% | -19.53% | -18.22% | -6.64% | ||
| Buyback Yield / Dilution | -7.73% | -7.73% | -0.11% | -16,060.01% | -24.68% |