DIH HOLDINGS US INC A (DHAI) Financials
Newest figures come from the 10-K for FY2025, filed Oct 20, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DHAI SEC filings page.
DIH HOLDINGS US INC A (DHAI) reported $62.9M in revenue for fiscal year 2025, down 2.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
DIH’s improving gross margin is being overwhelmed by overhead, leaving FY2025 with deeper losses, cash outflow, and a tighter balance sheet.
In FY2025, gross margin recovered to51.2% even as operating margin fell to-11.2% ; SG&A increased while revenue declined, so the bottleneck shifted below production costs. The combination suggests that better unit economics were not enough to absorb the company’s broader operating cost structure.
Cash conversion weakened alongside profitability: the shift from FY2024 profit to a FY2025 net loss of
The balance sheet is structurally strained: negative equity reached
Financial Health Signals
DIH HOLDINGS US INC A does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
DIH HOLDINGS US INC A passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
DIH HOLDINGS US INC A reported a net loss of $8.7M while operations used $4.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
DIH HOLDINGS US INC A reported an operating loss of $7.0M against $317K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
DIH HOLDINGS US INC A generated $12.6M in revenue in Q4 2025. This represents a decrease of 34.7% from the same quarter a year earlier. Against the prior quarter it is down 16.2%.
DIH HOLDINGS US INC A's EBITDA was -$5.1M in Q4 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 120.6% from the same quarter a year earlier. Against the prior quarter it is down 106.6%.
DIH HOLDINGS US INC A reported -$4.4M in net income in Q4 2025. This represents a decrease of 243.5% from the same quarter a year earlier. Against the prior quarter it is down 18.1%.
Cash & Balance Sheet
DIH HOLDINGS US INC A recorded an outflow of $3.4M in free cash flow in Q4 2025, representing a cash shortfall after capex. This represents a decrease of 7145.1% from the same quarter a year earlier. Against the prior quarter it is down 609.5%.
DIH HOLDINGS US INC A held $1.9M in cash against $2.4M in long-term debt as of Q4 2025, with $42.9M of liabilities due within a year.
Not reported for Q4 2025.
Margins & Returns
DIH HOLDINGS US INC A's gross margin was 47.2% in Q4 2025, indicating the percentage of revenue retained after direct costs. This is up 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.
DIH HOLDINGS US INC A's operating margin was -42.4% in Q4 2025, reflecting core business profitability. This is down 30.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 24.2 percentage points.
DIH HOLDINGS US INC A's net profit margin was -34.8% in Q4 2025, showing the share of revenue converted to profit. This is down 50.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.1 percentage points.
Not reported for Q4 2025.
Capital Allocation
DIH HOLDINGS US INC A invested $1.8M in research and development in Q4 2025. This represents a decrease of 9.0% from the same quarter a year earlier. Against the prior quarter it is down 1.7%.
DIH HOLDINGS US INC A invested $92K in capex in Q4 2025, funding long-term assets and infrastructure. This represents an increase of 37.3% from the same quarter a year earlier. Against the prior quarter it is up 338.1%.
Not reported for Q4 2025.
DHAI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.6M-34.7% | $15.1M-20.6% | $18.2M+39.1% | $17.0M+30.0% | $19.4M | $19.0M | $13.1M | $13.0M |
| Cost of Revenue | $6.7M-38.1% | $7.9M-8.7% | $8.6M+12.5% | $7.5M-1.9% | $10.8M | $8.6M | $7.7M | $7.6M |
| Gross Profit | $6.0M-30.4% | $7.2M-30.4% | $9.6M+76.7% | $9.5M+75.2% | $8.6M | $10.4M | $5.4M | $5.4M |
| R&D Expenses | $1.8M-9.0% | $1.8M+7.7% | $1.9M+20.6% | $1.6M+14.3% | $1.9M | $1.7M | $1.6M | $1.4M |
| SG&A Expenses | $7.4M-8.7% | $8.2M+50.6% | $5.8M-9.6% | $8.6M+47.5% | $8.1M | $5.4M | $6.4M | $5.8M |
| Operating Income | -$5.4M-123.6% | -$2.7M-183.3% | $1.9M+174.1% | -$799K+57.5% | -$2.4M-54.7% | $3.3M | -$2.5M-1061.7% | -$1.9M-869.7% |
| EBITDA | -$5.1M-120.6% | -$2.5M-173.5% | $2.1M+186.6% | -$708K+60.6% | -$2.3M | $3.4M | -$2.5M | -$1.8M |
| Interest Expense | $131K-43.8% | $25K-86.5% | $26K-83.2% | $135K+12.5% | $233K | $185K | $155K | $120K |
| Income Tax | -$1.0M-272.9% | $367K-3.7% | $335K+544.2% | $723K+219.9% | $587K | $381K | $52K | $226K |
| Net Income | -$4.4M-243.5% | -$3.7M-225.6% | -$234K+90.6% | -$310K+89.4% | $3.1M+949.0% | $3.0M | -$2.5M-315.1% | -$2.9M-343.0% |
| EPS (Basic) | -$5.95-2604.5% | -$0.11-191.7% | -$0.01+90.0% | -$0.01+91.7% | -$0.22 | $0.12 | -$0.10-300.0% | -$0.12 |
| EPS (Diluted) | -$5.95 | -$0.11-191.7% | -$0.01+90.0% | -$0.01+91.7% | -$0.22 | $0.12 | -$0.10-300.0% | -$0.12 |
| Diluted Shares (Avg) | N/A | 35M+38.6% | 35M+38.2% | 35M+38.2% | N/A | 25M | 25M | 25M |
DHAI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $26.8M-25.1% | $31.8M-45.8% | $38.2M-33.6% | $38.6M-36.1% | $35.7M+12.4% | $58.7M-71.7% | $57.5M-72.1% | $60.3M-70.6% |
| Current Assets | $21.2M-21.8% | $24.2M+195432.2% | $29.8M+53974.6% | $29.7M+32632.7% | $27.1M+7.1% | $12K-97.4% | $55K-92.0% | $91K-89.8% |
| Cash & Equivalents | $1.9M-39.9% | $1.1M+8965.2% | $1.8M+54.8% | $2.7M+260.8% | $3.2M+1.6% | $12K-93.5% | $1.1M+341.8% | $762K+94.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $7.0M-10.0% | $8.0M | $9.6M | $9.0M | $7.8M+61.4% | N/A | N/A | N/A |
| Accounts Receivable | $3.2M-37.5% | $3.8M | $6.4M | $6.5M | $5.2M-13.4% | N/A | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $63.9M-6.4% | $69.7M-22.8% | $72.6M-21.1% | $72.6M-20.9% | $68.3M+12.4% | $90.2M-58.0% | $92.0M-56.8% | $91.7M-56.8% |
| Current Liabilities | $42.9M-4.7% | $47.3M+924.8% | $49.4M+1252.1% | $48.5M+1455.8% | $45.0M+22.3% | $4.6M+956.4% | $3.7M+2244.3% | $3.1M+1422.4% |
| Non-Current Liabilities | $21.0M-9.8% | $22.4M+204.8% | $23.2M+209.2% | $24.1M+223.9% | $23.3M+201.5% | $7.3M-4.2% | $7.5M-1.2% | $7.4M-7.8% |
| Long-Term Debt | $2.4M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$37.1M-14.1% | -$37.9M-20.0% | -$34.4M+0.2% | -$34.1M-8.3% | -$32.5M-12.4% | -$31.6M-314.3% | -$34.5M-387.6% | -$31.4M-329.5% |
| Retained Earnings | -$43.9M-24.6% | -$39.5M-230.5% | -$35.8M-221.9% | -$35.5M-239.2% | -$35.2M-31.5% | -$11.9M-56.7% | -$11.1M-57.1% | -$10.5M-43.0% |
Not reported in any period shown, so not listed: Goodwill.
DHAI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.3M-2963.8% | $686K+431.3% | $476K+474.1% | -$2.0M-323.2% | $115K+184.5% | -$207K-302.0% | -$127K+5.1% | -$475K-191.0% |
| Depreciation & Amortization | $231K+220.8% | $260K+213.3% | $260K+282.4% | $91K+15.2% | $72K | $83K | $68K | $79K |
| Capital Expenditures | $92K+37.3% | $21K-66.1% | $188K+224.1% | $235K+1466.7% | $67K | $62K | $58K | $15K |
| Free Cash Flow | -$3.4M-7145.1% | $665K+347.2% | $288K+255.5% | -$2.2M-358.2% | $48K | -$269K | -$185K | -$490K |
| Investing Cash Flow | -$92K-100.1% | -$21K+94.8% | -$188K-105.4% | -$235K-1466.7% | $148.7M-0.3% | -$401K | $3.5M | -$15K |
| Financing Cash Flow | $4.2M+102.9% | -$1.6M-366.1% | -$1.0M+69.3% | $1.8M+191.6% | -$146.5M+1.7% | $592K+4175.9% | -$3.3M | -$1.9M-4817.3% |
| Share Buybacks | N/A | N/A | N/A | N/A | $149.3M0.0% | $0 | $3.9M | $0 |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid.
DHAI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.2%+2.9pp | 47.9%-6.8pp | 52.6%+11.2pp | 55.8%+14.4pp | 44.3% | 54.7% | 41.4% | 41.4% |
| Operating Margin | -42.4%-30.0pp | -18.2%-35.5pp | 10.4%+29.9pp | -4.7%+9.7pp | -12.4% | 17.3% | -19.5% | -14.4% |
| Net Margin | -34.8%-50.7pp | -24.7%-40.3pp | -1.3%+17.7pp | -1.8%+20.5pp | 15.8% | 15.6% | -19.0% | -22.3% |
| Return on Assets | -16.5%-25.1pp | -11.7%-16.8pp | -0.6%+3.7pp | -0.8%+4.0pp | 8.6%+9.7pp | 5.1% | -4.3%-4.9pp | -4.8%-5.4pp |
| Current Ratio | 0.49-0.1x | 0.51+0.5x | 0.60+0.6x | 0.61+0.6x | 0.60-0.1x | 0.00-1.1x | 0.02-4.4x | 0.03-4.3x |
| Asset Turnover | 0.47-0.1x | 0.47+0.2x | 0.48+0.2x | 0.44+0.2x | 0.54 | 0.32 | 0.23 | 0.22 |
| FCF Margin | -26.8%-27.0pp | 4.4%+5.8pp | 1.6%+3.0pp | -13.2%-9.5pp | 0.3% | -1.4% | -1.4% | -3.8% |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Note: Shareholder equity is negative (-$37.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.49), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| DIH HOLDINGS US INC A DHAI | FY2025 | $62.9M | -$8.7M | -13.8% | N/A | — |
| Lifeward Ltd. LFWD | FY2025 | $22.0M | -$19.9M | -90.3% | $18.4M | 47/100 |
| Beyond Air, Inc. XAIR | FY2026 | $7.7M | -$33.2M | N/A | $2.2M | 63/100 |
| PAVmed Inc. PAVM | FY2025 | $71K | -$3.8M | N/A | $22.3M | — |
| ReShape Lifesciences, Inc. RSLS | FY2025 | $320K | -$10.3M | N/A | $7.6M | — |
| SiNtx Technologies, Inc. SINT | FY2025 | $1.0M | -$10.4M | N/A | $14.1M | 51/100 |
Where DIH HOLDINGS US INC A Ranks
Frequently Asked Questions
What is DIH HOLDINGS US INC A's annual revenue?
DIH HOLDINGS US INC A (DHAI) reported $62.9M in total revenue for fiscal year 2025. This represents a -2.5% 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 DIH HOLDINGS US INC A's revenue growing?
DIH HOLDINGS US INC A (DHAI) revenue declined by 2.5% year-over-year, from $64.5M to $62.9M in fiscal year 2025.
Is DIH HOLDINGS US INC A profitable?
No, DIH HOLDINGS US INC A (DHAI) reported a net income of -$8.7M in fiscal year 2025, with a net profit margin of -13.8%.
What is DIH HOLDINGS US INC A's EBITDA?
DIH HOLDINGS US INC A (DHAI) had EBITDA of -$6.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does DIH HOLDINGS US INC A have?
As of fiscal year 2025, DIH HOLDINGS US INC A (DHAI) had $1.9M in cash and equivalents against $2.4M in long-term debt.
What is DIH HOLDINGS US INC A's gross margin?
DIH HOLDINGS US INC A (DHAI) had a gross margin of 51.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is DIH HOLDINGS US INC A's operating margin?
DIH HOLDINGS US INC A (DHAI) had an operating margin of -11.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is DIH HOLDINGS US INC A's net profit margin?
DIH HOLDINGS US INC A (DHAI) had a net profit margin of -13.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is DIH HOLDINGS US INC A's free cash flow?
DIH HOLDINGS US INC A (DHAI) recorded an outflow of $4.7M in free cash flow during fiscal year 2025. This represents a -422.2% 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 DIH HOLDINGS US INC A's operating cash flow?
DIH HOLDINGS US INC A (DHAI) recorded an outflow of $4.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are DIH HOLDINGS US INC A's total assets?
DIH HOLDINGS US INC A (DHAI) had $26.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are DIH HOLDINGS US INC A's capital expenditures?
DIH HOLDINGS US INC A (DHAI) invested $536K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does DIH HOLDINGS US INC A spend on research and development?
DIH HOLDINGS US INC A (DHAI) invested $7.1M in research and development during fiscal year 2025.
What is DIH HOLDINGS US INC A's current ratio?
DIH HOLDINGS US INC A (DHAI) had a current ratio of 0.49 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is DIH HOLDINGS US INC A's return on assets (ROA)?
DIH HOLDINGS US INC A (DHAI) had a return on assets of -32.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does DIH HOLDINGS US INC A's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, DIH HOLDINGS US INC A (DHAI) held $1.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $4.1M over that year. Dividing the one by the other, the reported balance equals about 6 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is DIH HOLDINGS US INC A's debt-to-equity ratio negative or not reported?
DIH HOLDINGS US INC A (DHAI) has negative shareholder equity of -$37.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is DIH HOLDINGS US INC A's Piotroski F-Score?
DIH HOLDINGS US INC A (DHAI) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are DIH HOLDINGS US INC A's earnings high quality?
DIH HOLDINGS US INC A (DHAI) reported a net loss of $8.7M while operations used $4.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.
Can DIH HOLDINGS US INC A cover its interest payments?
DIH HOLDINGS US INC A (DHAI) reported an operating loss of $7.0M against $317K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.