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Solowin Holdings Financials

AXG
Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE March

This page shows Solowin Holdings (AXG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 17 / 100
Financial Profile 17/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth
0

Solowin Holdings's revenue declined 76.6% year-over-year, from $128K to $30K. This contraction results in a growth score of 0/100.

Leverage
52

Solowin Holdings has a moderate D/E ratio of 1.60. This balance of debt and equity financing earns a leverage score of 52/100.

Liquidity
32

Solowin Holdings's current ratio of 1.29 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
0

While Solowin Holdings generated -$1.1M in operating cash flow, capex of $88K consumed most of it, leaving -$1.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

Solowin Holdings generates a -180.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -51.1% the prior year.

Piotroski F-Score Weak
1/9

Solowin Holdings passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality
0.12x

For every $1 of reported earnings, Solowin Holdings generates $0.12 in operating cash flow (-$1.1M OCF vs -$8.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue
$30K
YoY-76.6%

Solowin Holdings generated $30K in revenue in fiscal year 2025. This represents a decrease of 76.6% from the prior year.

EBITDA
N/A
Free Cash Flow
-$1.1M
YoY+80.1%

Solowin Holdings generated -$1.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 80.1% from the prior year.

Net Income
-$8.5M
YoY-87.4%

Solowin Holdings reported -$8.5M in net income in fiscal year 2025. This represents a decrease of 87.4% from the prior year.

EPS (Diluted)
$-0.53
YoY-60.6%

Solowin Holdings earned $-0.53 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 60.6% from the prior year.

Cash & Debt
$3.8M
YoY+79.3%

Solowin Holdings held $3.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A
Gross Margin
N/A
Operating Margin
N/A
Net Margin
-28460.0%
YoY-24900.6pp

Solowin Holdings's net profit margin was -28460.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 24900.6 percentage points from the prior year.

Return on Equity
-180.5%
YoY-129.4pp

Solowin Holdings's ROE was -180.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 129.4 percentage points from the prior year.

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$88K
YoY-37.6%

Solowin Holdings invested $88K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 37.6% from the prior year.

AXG Income Statement

Metric Q2'26 Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q4'22
Revenue N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A
Operating Income N/A N/A N/A N/A N/A N/A N/A
Interest Expense N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A
Net Income N/A N/A N/A N/A N/A N/A N/A
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A

AXG Balance Sheet

Metric Q2'26 Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q4'22
Total Assets $383.2M+3013.1% $12.3M-6.1% $13.1M-14.9% $15.4M-8.9% $16.9M+65.2% $10.2M+8.1% $9.5M
Current Assets $28.4M+193.6% $9.7M-7.7% $10.5M-18.3% $12.8M N/A $9.7M N/A
Cash & Equivalents $8.8M+128.8% $3.8M+56.1% $2.5M+14.9% $2.1M-66.4% $6.4M+231.3% $1.9M+97.0% $977K
Inventory N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A $333K+51.4% $220K N/A $309K N/A
Goodwill $343.1M N/A N/A N/A N/A N/A N/A
Total Liabilities $14.2M+87.0% $7.6M+6.7% $7.1M+9.6% $6.5M+8.2% $6.0M-13.0% $6.9M-7.7% $7.5M
Current Liabilities $13.0M+74.1% $7.5M+8.5% $6.9M+14.3% $6.0M N/A $6.8M N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A
Total Equity $369.0M+7699.2% $4.7M-21.3% $6.0M-32.6% $8.9M-18.2% $10.9M+226.6% $3.3M+67.0% $2.0M
Retained Earnings -$19.2M-31.9% -$14.5M-18.7% -$12.2M-104.5% -$6.0M N/A -$1.4M N/A

AXG Cash Flow Statement

Metric Q2'26 Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q4'22
Operating Cash Flow N/A N/A N/A N/A N/A N/A N/A
Capital Expenditures N/A N/A N/A N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A
Investing Cash Flow N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow N/A N/A N/A N/A N/A N/A N/A
Dividends Paid N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A

AXG Financial Ratios

Metric Q2'26 Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q4'22
Gross Margin N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A
Return on Equity N/A N/A N/A N/A N/A N/A N/A
Return on Assets N/A N/A N/A N/A N/A N/A N/A
Current Ratio 2.17+0.9 1.29-0.2 1.51-0.6 2.12 N/A 1.43 N/A
Debt-to-Equity 0.04-1.6 1.60+0.4 1.18+0.5 0.73+0.2 0.55-1.5 2.06-1.7 3.73
FCF Margin N/A N/A N/A N/A N/A N/A N/A

Frequently Asked Questions

What is Solowin Holdings's annual revenue?

Solowin Holdings (AXG) reported $30K in total revenue for fiscal year 2025. This represents a -76.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Solowin Holdings's revenue growing?

Solowin Holdings (AXG) revenue declined by 76.6% year-over-year, from $128K to $30K in fiscal year 2025.

Is Solowin Holdings profitable?

No, Solowin Holdings (AXG) reported a net income of -$8.5M in fiscal year 2025, with a net profit margin of -28460.0%.

What is Solowin Holdings's earnings per share (EPS)?

Solowin Holdings (AXG) reported diluted earnings per share of $-0.53 for fiscal year 2025. This represents a -60.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Solowin Holdings's net profit margin?

Solowin Holdings (AXG) had a net profit margin of -28460.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Solowin Holdings's return on equity (ROE)?

Solowin Holdings (AXG) has a return on equity of -180.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Solowin Holdings's free cash flow?

Solowin Holdings (AXG) generated -$1.1M in free cash flow during fiscal year 2025. This represents a 80.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Solowin Holdings's operating cash flow?

Solowin Holdings (AXG) generated -$1.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Solowin Holdings's total assets?

Solowin Holdings (AXG) had $12.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Solowin Holdings's capital expenditures?

Solowin Holdings (AXG) invested $88K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Solowin Holdings's current ratio?

Solowin Holdings (AXG) had a current ratio of 1.29 as of fiscal year 2025, which is considered adequate.

What is Solowin Holdings's debt-to-equity ratio?

Solowin Holdings (AXG) had a debt-to-equity ratio of 1.60 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Solowin Holdings's return on assets (ROA)?

Solowin Holdings (AXG) had a return on assets of -69.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Solowin Holdings's cash runway?

Based on fiscal year 2025 data, Solowin Holdings (AXG) had $3.8M in cash against an annual operating cash burn of $1.1M. This gives an estimated cash runway of approximately 44 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Solowin Holdings's Piotroski F-Score?

Solowin Holdings (AXG) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Solowin Holdings's earnings high quality?

Solowin Holdings (AXG) has an earnings quality ratio of 0.12x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Solowin Holdings?

Solowin Holdings (AXG) scores 17 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.