Solowin Holdings (SWIN) Financials
Newest figures come from the 10-K for Q2 FY2026, filed Jan 9, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SWIN SEC filings page.
Solowin Holdings (SWIN) reported $30K in revenue for fiscal year 2025, down 76.6% from the prior fiscal year. This page shows its 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).
Solowin’s reported business scale is extremely small, while expenses and financing needs remain large enough to overwhelm operating results.
The earnings-to-cash relationship broke sharply in FY2025: the net loss widened while operating cash outflow narrowed to$1.1M from$5.6M in FY2024. That divergence means the reported loss was not a clean measure of current-period cash demand, with accounting items or timing effects materially separating profit from cash movement.
FY2025 revenue was only
The balance sheet lost cushion as equity fell from
Financial Health Signals
Solowin Holdings 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.
Solowin Holdings passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Solowin Holdings reported a net loss of $8.5M while operations used $1.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q2 2026.
Cash & Balance Sheet
Solowin Holdings held $8.8M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
SWIN 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
SWIN 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 | Q2'2610-K | Q4'2510-K | Q2'25 | Q4'2420-F | Q2'24 | Q4'2320-F | Q4'22 |
|---|---|---|---|---|---|---|---|
| Total Assets | $383.2M+2822.3% | $12.3M-20.1% | $13.1M-22.4% | $15.4M+50.6% | $16.9M | $10.2M+8.1% | $9.5M |
| Current Assets | $28.4M+171.1% | $9.7M-24.5% | $10.5M | $12.8M+31.6% | N/A | $9.7M | N/A |
| Cash & Equivalents | $8.8M+257.1% | $3.8M+79.3% | $2.5M-61.4% | $2.1M+11.2% | $6.4M | $1.9M+97.0% | $977K |
| Accounts Receivable | N/A | N/A | $333K | $220K-28.8% | N/A | $309K | N/A |
| Goodwill | $343.1M | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $14.2M+99.6% | $7.6M+17.0% | $7.1M+18.6% | $6.5M-5.9% | $6.0M | $6.9M-7.7% | $7.5M |
| Current Liabilities | $13.0M+89.0% | $7.5M+24.1% | $6.9M | $6.0M-11.1% | N/A | $6.8M | N/A |
| Non-Current Liabilities | $1.1M+474.0% | $83K-81.1% | $196K | $439K+362.1% | N/A | $95K | N/A |
| Total Equity | $369.0M+6037.4% | $4.7M-47.0% | $6.0M-44.9% | $8.9M+167.1% | $10.9M | $3.3M+67.0% | $2.0M |
| Retained Earnings | -$19.2M-56.5% | -$14.5M-142.7% | -$12.2M | -$6.0M-319.0% | N/A | -$1.4M | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments, Long-Term Debt.
SWIN 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.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
SWIN 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
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 |
|---|---|---|---|---|---|---|
| Solowin Holdings SWIN | FY2025 | $30K | -$8.5M | N/A | $614.0M | — |
| Cango Inc. CANG | FY2025 | $688.1M | -$622.0M | -90.4% | $150.6M | 18/100 |
| BitFuFu Inc. FUFU | FY2025 | $477.5M | -$31.3M | -6.5% | $203.4M | 39/100 |
| A-Mark Precious Metals, Inc. AMRK | FY2025 | $11.0B | $17.3M | 0.2% | $720.8M | 45/100 |
| Oppenheimer Holdings, Inc. OPY | FY2025 | $1.6B | $148.4M | 9.1% | $1.1B | 47/100 |
Where Solowin Holdings Ranks
Frequently Asked Questions
What is Solowin Holdings's annual revenue?
Solowin Holdings (SWIN) 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 (SWIN) revenue declined by 76.6% year-over-year, from $128K to $30K in fiscal year 2025.
Is Solowin Holdings profitable?
No, Solowin Holdings (SWIN) reported a net income of -$8.5M in fiscal year 2025.
What is Solowin Holdings's return on equity (ROE)?
Solowin Holdings (SWIN) 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 (SWIN) recorded an outflow of $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 (SWIN) recorded an outflow of $1.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Solowin Holdings's total assets?
Solowin Holdings (SWIN) 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 (SWIN) invested $88K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Solowin Holdings's current ratio?
Solowin Holdings (SWIN) 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 (SWIN) 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 (SWIN) 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 Piotroski F-Score?
Solowin Holdings (SWIN) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 Solowin Holdings's earnings high quality?
Solowin Holdings (SWIN) reported a net loss of $8.5M while operations used $1.1M 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.