Primech Holdings Announces Fiscal Year 2025 Results, Contracted Revenue Backlog at $120.8 Million
Primech Holdings (NASDAQ:PMEC), a Singapore-based facilities-services provider, reported its fiscal year 2025 results with revenue growth of 2.5% to $74.3 million. The company's gross profit margin improved by 130 basis points to 23.6%, while net loss narrowed by 40% to $2.2 million ($0.05 per share).
Notably, Primech has secured $120.8 million in future contracted revenue, with 49.5% scheduled for FY2026. The company's transformation into a technology-first organization is marked by the successful launch of HYTRON AI-powered cleaning robots, with deployments across Singapore and international partnerships in Hong Kong, Japan, and Europe. Cash position strengthened with a 32.7% increase to $10.1 million.
Primech Holdings (NASDAQ:PMEC), un fornitore di servizi per strutture con sede a Singapore, ha annunciato i risultati dell'esercizio fiscale 2025 con una crescita del fatturato del 2,5% a 74,3 milioni di dollari. Il margine lordo dell'azienda è migliorato di 130 punti base raggiungendo il 23,6%, mentre la perdita netta si è ridotta del 40% a 2,2 milioni di dollari (0,05 dollari per azione).
In particolare, Primech ha assicurato 120,8 milioni di dollari di ricavi contrattuali futuri, di cui il 49,5% previsto per l'esercizio fiscale 2026. La trasformazione dell'azienda in un'organizzazione orientata alla tecnologia è evidenziata dal lancio riuscito dei robot per la pulizia HYTRON alimentati dall'intelligenza artificiale, con implementazioni a Singapore e partnership internazionali a Hong Kong, Giappone ed Europa. La posizione di liquidità si è rafforzata con un aumento del 32,7% a 10,1 milioni di dollari.
Primech Holdings (NASDAQ:PMEC), un proveedor de servicios para instalaciones con sede en Singapur, informó sus resultados del año fiscal 2025 con un crecimiento de ingresos del 2,5% hasta 74,3 millones de dólares. El margen bruto de la empresa mejoró 130 puntos básicos hasta el 23,6%, mientras que la pérdida neta se redujo un 40% hasta 2,2 millones de dólares (0,05 dólares por acción).
Destaca que Primech ha asegurado 120,8 millones de dólares en ingresos contractuales futuros, de los cuales el 49,5% está programado para el año fiscal 2026. La transformación de la empresa hacia una organización centrada en la tecnología se refleja en el exitoso lanzamiento de los robots de limpieza HYTRON impulsados por inteligencia artificial, con despliegues en Singapur y alianzas internacionales en Hong Kong, Japón y Europa. La posición de efectivo se fortaleció con un aumento del 32,7% hasta 10,1 millones de dólares.
Primech Holdings (NASDAQ:PMEC), 싱가포르에 본사를 둔 시설 서비스 제공업체는 2025 회계연도 실적을 발표하며 매출이 2.5% 증가하여 7,430만 달러를 기록했습니다. 회사의 총이익률은 130 베이시스 포인트 상승하여 23.6%를 기록했고, 순손실은 40% 감소하여 220만 달러 (주당 0.05달러)를 기록했습니다.
특히 Primech는 1억 2,080만 달러의 미래 계약 매출을 확보했으며, 그 중 49.5%는 2026 회계연도에 예정되어 있습니다. 회사의 기술 중심 조직으로의 전환은 인공지능 기반 청소 로봇 HYTRON의 성공적인 출시로 나타나며, 싱가포르 내 배치와 홍콩, 일본, 유럽의 국제 파트너십을 포함합니다. 현금 보유액은 32.7% 증가하여 1,010만 달러로 강화되었습니다.
Primech Holdings (NASDAQ:PMEC), un fournisseur de services aux installations basé à Singapour, a annoncé ses résultats pour l'exercice fiscal 2025 avec une croissance du chiffre d'affaires de 2,5% à 74,3 millions de dollars. La marge brute de l'entreprise s'est améliorée de 130 points de base pour atteindre 23,6%, tandis que la perte nette s'est réduite de 40% à 2,2 millions de dollars (0,05 dollar par action).
Notamment, Primech a sécurisé 120,8 millions de dollars de revenus contractuels futurs, dont 49,5% sont prévus pour l'exercice 2026. La transformation de l'entreprise en une organisation axée sur la technologie est illustrée par le lancement réussi des robots de nettoyage HYTRON propulsés par l'intelligence artificielle, déployés à Singapour et via des partenariats internationaux à Hong Kong, au Japon et en Europe. La trésorerie s'est renforcée avec une augmentation de 32,7% à 10,1 millions de dollars.
Primech Holdings (NASDAQ:PMEC), ein in Singapur ansässiger Anbieter von Facility-Services, meldete seine Ergebnisse für das Geschäftsjahr 2025 mit einem Umsatzwachstum von 2,5% auf 74,3 Millionen US-Dollar. Die Bruttogewinnmarge des Unternehmens verbesserte sich um 130 Basispunkte auf 23,6%, während der Nettoverlust um 40% auf 2,2 Millionen US-Dollar (0,05 US-Dollar je Aktie) zurückging.
Bemerkenswert ist, dass Primech 120,8 Millionen US-Dollar an zukünftigen Vertragsumsätzen gesichert hat, wobei 49,5% für das Geschäftsjahr 2026 geplant sind. Die Transformation des Unternehmens zu einer technologieorientierten Organisation zeigt sich im erfolgreichen Start der HYTRON KI-gesteuerten Reinigungsroboter, die in Singapur eingesetzt werden, sowie in internationalen Partnerschaften in Hongkong, Japan und Europa. Die Cash-Position wurde mit einem Anstieg um 32,7% auf 10,1 Millionen US-Dollar gestärkt.
- None.
- Company remains unprofitable with $2.2 million net loss
- Modest revenue growth of only 2.5% year-over-year
- Operating loss of $0.9 million despite improvements
- High liabilities of $26.5 million against $41.2 million in total assets
Insights
Primech shows modest revenue growth and reduced losses, with strong $120.8M backlog providing future revenue visibility despite current unprofitability.
Primech's FY2025 results show a company in transition, with some encouraging signals amid ongoing challenges. The 2.5% revenue growth to
The reduction in net loss to
The contracted revenue backlog of
The business appears to be pursuing a dual-track strategy: maintaining its traditional facilities services through Primech A&P while aggressively expanding its robotics and AI offerings through Primech AI. The HYTRON robot deployments and international partnerships could eventually create higher-margin revenue streams, though the current financial results don't yet show substantial impact from these initiatives.
While management's commentary suggests an optimistic outlook based on the technology pivot and expansion strategy, investors should note that returning to profitability will require continued operational improvements and successful commercialization of the robotics technology at scale.
Primech's technological transformation deserves closer scrutiny as it represents the potential inflection point for the company's future. The HYTRON robot appears to be gaining market acceptance with deployments across multiple sectors - educational institutions (Temasek Polytechnic), retail (major Singapore mall), and healthcare (Singapore hospital). This cross-sector adoption demonstrates versatility in the product's application.
The integration of NVIDIA Jetson Orin technology into their robotics platform is technically significant. This edge AI computing platform provides substantially more processing power than previous generations, enabling more sophisticated autonomous navigation, object recognition, and operational capabilities in commercial cleaning robots.
Their international expansion strategy shows methodical geographic targeting. The partnerships in Hong Kong (Chinachem Group), Japan (Golden Rim Investment), and Europe (TCOrobotics GmbH) provide distribution channels across three distinct and valuable markets. The Europe partnership specifically covering Germany, Austria, and Switzerland targets economically strong regions with high labor costs - markets where automation ROI can be compelling.
The manufacturing scale-up through a Chinese production partner targeting an initial 300-unit production capacity indicates Primech is preparing for volume deployment. However, the release doesn't specify timeframes for this production or confirmation of actual orders versus capacity.
The introduction of the HYTRON Lite model demonstrates product line expansion addressing specific market needs (space-constrained environments). This suggests the company is beginning to build out a product family rather than relying on a single offering.
While these developments show promising momentum in Primech's technology pivot, the current financial results indicate this transformation remains in early stages. The technology initiatives have not yet translated into significant revenue growth or profitability. The successful commercialization of these robotics products at scale will be crucial for the company's stated goal of returning to profitability.
SINGAPORE, July 24, 2025 (GLOBE NEWSWIRE) -- Primech Holdings Limited (Nasdaq: PMEC), an established technology-driven facilities-services provider to public and private-sector customers in Singapore, today reported audited financial results for the fiscal year ended March 31, 2025.
FY 2025 Highlights:
- Revenue grew
2.5% to$74.3 million for the fiscal year ended March 31, 2025, compared with revenue of$72.5 million in fiscal year 2024. - Gross profit margin expanded 130 basis points to
23.6% as technology adoption and grant support offset wage pressures. - Net loss narrowed
40% to$2.2 million , or$(0.05) per basic and diluted share, compared to a net loss of$3.2 million , or$(0.10) per share. - Cash and cash equivalents increased by
32.7% to$10.1 million ; total assets were$41.2 million , and total liabilities were$26.5 million . - Future contracted revenue, scheduled for recognition in FY 2026 and onward, totals
$120.8 million , providing multi-year visibility.
Fiscal Year 2025 Financial Results:
| Financial Metrics (US$ millions, except per share data) | FY 2025 | FY 2024 | Change |
| Revenue | $74.3 | $72.5 | +2.5% |
| Gross profit | $17.5 | $16.0 | +9.8% |
| Gross profit margin | 23.6% | 22.0% | +160 bps |
| Operating loss | $(0.9) | $(2.8) | + |
| Net loss | $(2.2) | $(3.2) | + |
| Basic & diluted EPS | $(0.05) | $(0.10) | + |
| Cash & cash equivalents | $10.1 | $7.6 | +32.6% |
Primech A&P Highlights:
- Over
$18.9 million in new contracts secured during fiscal year 2025, including a major contract extension worth$8.3 million - Industry recognition achievements, including ASEAN Public Toilet Award for Newton Food Centre management and LOO Awards 2024 Best Market Award
- Sustainability leadership with nomination as a finalist for the Singapore Apex Corporate Sustainability Awards in the "LowCarbonSG" category
- Strategic partnerships, including membership in the Singapore International Facility Management Association (SIFMA)
Primech AI Highlights:
- Revolutionary HYTRON robot launch with successful deployments at Temasek Polytechnic, a major Singapore shopping mall, and one of Singapore's largest hospitals
- Global expansion achievements, including partnerships in Hong Kong (Chinachem Group), Japan (Golden Rim Investment), and Europe (TCOrobotics GmbH covering Germany, Austria, and Switzerland)
- Technology excellence recognition, winning the Robotics category at the Singapore Business Review Technology Excellence Awards 2025
- Advanced AI integration incorporating NVIDIA Jetson Orin technology components for enhanced robotics performance
- Manufacturing scale-up with a China production partnership targeting 300 robots' initial production capacity
- Product innovation with the launch of the compact HYTRON Lite model optimized for space-constrained environments
CEO Commentary
"Primech delivered resilient top-line growth and achieved a significant improvement in our bottom line during our second year as a public company," said Mr. Kin Wai Ho, Chairman and Chief Executive Officer. "More importantly, this year marked our dramatic transformation into a technology-first organization through our revolutionary HYTRON AI-powered cleaning robots and aggressive global expansion strategy. We've evolved from a traditional facilities services company into an innovative robotics and automation leader."
"Our HYTRON technology represents the future of commercial cleaning. We've successfully deployed robots at prestigious locations and established partnerships across Singapore, Hong Kong, Japan, and Europe. With our three-phase expansion plan and
Future Contracted Revenues
As of March 31, 2025, our contracted revenues for future fulfilment were approximately
| ($’000) | (%) | |
| Estimated amount of services contracted for at April 1, 2025 to be recorded in revenue for FY ending March 31, 2026 | 59,876 | 49.5 |
| Estimated amount of services contracted for at April 1, 2026 to be recorded in revenue for FY ending March 31, 2027 | 34,069 | 28.2 |
| Estimated amount of services contracted for at April 1, 2027 to be recorded in revenue for FY ending March 31, 2028 | 26,899 | 22.3 |
| 120,844 | 100.0 | |
Annual Report on Form 20-F
The Company will file its annual report on Form 20-F for the fiscal year ended March 31, 2025 with the Securities and Exchange Commission later today, which can be accessed on the SEC's website at https://www.sec.gov and on Primech’s investor relations website at https://investor.primechholdings.com/filings/.
About Primech Holdings Limited
Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.
About Primech AI
Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
Company Contact:
Email: ir@primech.com.sg
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
| ***tables follow*** |
| Primech Holdings Limited and Subsidiaries Consolidated Balance Sheets (in thousands except share data, U.S. dollars) | ||||||||
| As of March 31, | ||||||||
| 2025 | 2024 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 10,145 | $ | 7,648 | ||||
| Accounts receivable, net (including unbilled receivable of | 15,633 | 18,452 | ||||||
| Government subsidies receivable | 1,485 | 1,368 | ||||||
| Prepaid expenses and other current assets | 1,700 | 3,810 | ||||||
| Inventories | 44 | 55 | ||||||
| Total current assets | 29,007 | 31,333 | ||||||
| Non-current assets | ||||||||
| Property and equipment, net | 9,686 | 10,082 | ||||||
| Right of use assets | 2,114 | 3,406 | ||||||
| Goodwill | 391 | 667 | ||||||
| Intangible assets, net | 2 | 21 | ||||||
| Total assets | $ | 41,200 | $ | 45,509 | ||||
| Liabilities and shareholders’ equity | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 10,330 | $ | 9,406 | ||||
| Notes payable-current portion | 8,481 | 11,277 | ||||||
| Lease liabilities-current portion | 1,595 | 2,059 | ||||||
| Income tax liabilities | 461 | — | ||||||
| Total current liabilities | 20,742 | 22,742 | ||||||
| Non-current liabilities | ||||||||
| Notes payable-long term | 4,331 | 5,705 | ||||||
| Lease liabilities-long term | 1,068 | 1,752 | ||||||
| Deferred tax liability | 255 | 251 | ||||||
| Total liabilities | 26,521 | 30,450 | ||||||
| Shareholders’ Equity | ||||||||
| Common Stock, 38,417,987 and 35,550,000 shares issued and outstanding as of March 31, 2025 and 2024, respectively, | 23,961 | 22,193 | ||||||
| Additional paid-in capital | 924 | 924 | ||||||
| Accumulated other comprehensive income | 995 | 923 | ||||||
| Accumulated deficit | (10,991 | ) | (9,049 | ) | ||||
| Total Primech Holdings Limited shareholders’ equity | 14,889 | 14,991 | ||||||
| Non-controlling interests | (210 | ) | 68 | |||||
| Total shareholders’ equity | 14,679 | 15,059 | ||||||
| Total liabilities and shareholders’ equity | $ | 41,200 | $ | 45,509 | ||||
| Primech Holdings Limited and Subsidiaries Consolidated Statements of Operations and other Comprehensive Loss (in thousands except share and per share data, U.S. dollars) | ||||||||
| For the Years Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenues | ||||||||
| Revenues, net | $ | 74,349 | $ | 72,524 | ||||
| Operating costs and expenses | ||||||||
| Cost of revenue (net of | 56,823 | 59,915 | ||||||
| General and administrative expenses (net of | 16,176 | 13,160 | ||||||
| Sales and marketing expenses | 2,007 | 2,231 | ||||||
| Goodwill impairment | 291 | — | ||||||
| Total operating costs and expenses | 75,297 | 75,306 | ||||||
| Loss from operations | (948 | ) | (2,782 | ) | ||||
| Other operating income, net (includes | (27 | ) | 211 | |||||
| Interest expense | (789 | ) | (1,145 | ) | ||||
| Loss before income taxes | (1,764 | ) | (3,716 | ) | ||||
| Income tax benefit | (456 | ) | 493 | |||||
| Net loss | (2,220 | ) | (3,223 | ) | ||||
| (Profit)/ loss attributable to non-controlling interests | 278 | (16 | ) | |||||
| Net loss attributable to Primech Holdings Limited | (1,942 | ) | (3,239 | ) | ||||
| Total foreign currency translation adjustment | 72 | (24 | ) | |||||
| Comprehensive loss | $ | (1,870 | ) | (3,263 | ) | |||
| Earnings loss per share: | ||||||||
| Basic and diluted | $ | (0.05 | ) | $ | (0.10 | ) | ||
| Weighted average number of ordinary shares outstanding: | ||||||||
| Basic and Diluted | 37,584,000 | 33,929,000 | ||||||
| Primech Holdings Limited and Subsidiaries Consolidated Statements of Cash Flows (in thousands except share data, U.S. dollars) | ||||||||
| For the Years Ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (2,220 | ) | $ | (3,223 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation of property and equipment | 1,483 | 1,640 | ||||||
| Amortization of right of use assets | 2,479 | 2,203 | ||||||
| Loss (gain) on disposal of property and equipment | 1 | (13 | ) | |||||
| Amortization of intangible assets | 29 | 29 | ||||||
| Share based payment | 1,768 | — | ||||||
| Provision for doubtful accounts | 31 | — | ||||||
| Impairment of Goodwill | 291 | — | ||||||
| Change in operating assets and liabilities: | ||||||||
| Deferred tax liability | — | (454 | ) | |||||
| Accounts receivable | 2,888 | (3,330 | ) | |||||
| Government subsidies receivables | (111 | ) | 290 | |||||
| Prepaid expenses & other current assets | 2,132 | (2,657 | ) | |||||
| Inventories | 11 | 84 | ||||||
| Accounts payable and accrued expenses | 879 | (1,329 | ) | |||||
| Operating lease liability | (2,731 | ) | (2,322 | ) | ||||
| Tax payable | 462 | — | ||||||
| Net cash used in operating activities | 7,382 | (9,082 | ) | |||||
| Cash flows from investing activities: | ||||||||
| Acquisition of property and equipment | (1,098 | ) | (909 | ) | ||||
| Proceeds from sale of property and equipment | 67 | 102 | ||||||
| Net cash used in investing activities | (1,031 | ) | (807 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Net Proceeds from issue of new shares | — | 9,473 | ||||||
| Deferred offering costs | — | 545 | ||||||
| Payment of finance lease liabilities | (126 | ) | (86 | ) | ||||
| Repayment of bank loans | (159,107 | ) | (3,163 | ) | ||||
| Proceeds from bank loans | 154,846 | 1,412 | ||||||
| Net cash provided by financing activities | (4,387 | ) | 8,181 | |||||
| Net (decrease) increase in cash and cash equivalents | 1,963 | (1,708 | ) | |||||
| Effect of exchange rate changes on cash and cash equivalents | 533 | 284 | ||||||
| Cash and cash equivalents, beginning of year | 7,648 | 9,072 | ||||||
| Cash and cash equivalents, end of year | $ | 10,145 | $ | 7,648 | ||||
| Supplemental disclosure of non-cash investing and financing transactions | ||||||||
| Acquisition of equipment under finance leases | 367 | 173 | ||||||
| Recognition of Right of use assets and liabilities | 1,167 | 2,553 | ||||||
FAQ
What were Primech Holdings (PMEC) key financial results for FY 2025?
How much contracted revenue backlog does Primech (PMEC) have for future years?
What international expansion has Primech Holdings achieved in FY 2025?
How much cash does Primech (PMEC) have on its balance sheet?
What is Primech's HYTRON technology and where has it been deployed?
