AXG Solowin Holdings, Ltd.

Overview and Growth

In fiscal 2026, Solowin Holdings, Ltd. recorded $28.05M of revenue, net loss of $13.29M, and an operating cash outflow of $15.34M. The $28.05M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $2.82M in fiscal 2025, revenue recorded a 895.0% year-over-year increase. The company reported diluted EPS of -$0.11, adding a shareholder-level measure to the absolute income figures considered below. A diluted share base of 124.90M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. Diluted shares moved 674.4% from 16.13M in fiscal 2025, leaving the current share base higher year over year. Total assets stood at $50.71M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 0.55x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After all below-operating-line items, the company recorded a net loss of $13.29M for the fiscal year. The net loss equaled 47.4% of revenue, showing the bottom-line deficit relative to the company’s sales base. The company reported a pretax loss of $13.29M, before the effect of income taxes. Pretax margin was -47.4%, reflecting a pre-tax loss equal to 47.4% of revenue. The loss-to-equity relationship was 52.9%, placing the bottom-line deficit against shareholder capital. The net loss equaled 26.2% of period-end assets, showing the deficit relative to the asset base. Compared with a $8.54M net loss in fiscal 2025, the current loss increased to $13.29M.

Liquidity and Capital Structure

Total assets were $50.71M, supported by $25.59M of liabilities and $25.11M of shareholder equity. The near-term balance sheet paired $37.66M of current assets with $24.36M of current liabilities at the reporting date. Current assets covered current liabilities by 1.55x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $16.80M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 69.0% of current liabilities, showing how much near-term coverage came from cash alone. Book equity represented 49.5% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 50.5%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 33.1% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 312.0% higher than fiscal 2025 assets of $12.31M, measuring the company’s own balance-sheet change. Reported equity changed 430.8% from $4.73M in fiscal 2025, placing the current capital base higher year over year. Compared with $3.84M in fiscal 2025, the current cash balance moved 337.8% and finished higher.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $15.34M, rather than cash generation from operations. Capital spending of $186.00K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Operating cash flow and capital spending combined to leave a $15.52M cash deficit after capital spending. Free-cash-flow margin was -55.3%, reflecting a cash deficit equal to 55.3% of revenue after capital spending. Relative to total assets, the post-investment cash deficit measured 30.6%. Compared with a $1.06M operating cash outflow in fiscal 2025, the current outflow increased to $15.34M.

Based on the annual report for the fiscal year ending Mar 31, 2026. Analysis generated Oct 21, 2026.