Enigmatig (NYSE: EGG) grows FY 2025 revenue 12.2% but profits ease

Rhea-AI Filing Summary

Enigmatig Limited reported solid growth for fiscal 2025 as it transitioned to a newly listed public company on NYSE American. Corporate services income rose 12.2% to US$4.5 million, driven by expanded service scopes and new clients. Gross profit increased 14.9% to US$3.1 million, with gross margin improving to 68.8% from 67.1%, showing better operating leverage.

Service mix shifted toward higher-growth corporate secretarial and other services, which climbed 21.4% to US$2.2 million and reached 50.2% of revenue. Operating expenses jumped to US$2.5 million, mainly from one-off IPO-related costs, so profit from operations declined to US$0.5 million and net profit slipped to US$0.6 million. The IPO materially strengthened the balance sheet: cash and cash equivalents increased to US$13.2 million as of September 30, 2025, and total assets rose to US$18.2 million, giving the company more capacity to invest in technology, infrastructure, and expansion across Asia Pacific and the Middle East. Enigmatig also filed its annual report on Form 20-F for fiscal 2025.

Insights

Equity research analyst

Revenue and margins improved in 2025, but higher IPO-related costs compressed profits despite a much stronger balance sheet.

Enigmatig grew corporate services income by 12.2% to US$4.5 million, with gross profit up 14.9% and gross margin at 68.8%. Faster growth in corporate secretarial and other services, up 21.4% to US$2.2 million, rebalanced the mix toward recurring, scalable offerings.

However, operating expenses increased to US$2.5 million from US$1.6 million, largely due to non-recurring IPO-related items such as professional fees and D&O insurance. As a result, profit from operations fell to US$0.5 million and net profit to US$0.6 million, even though underlying demand remained healthy.

The successful IPO transformed the balance sheet. Cash and cash equivalents climbed from US$1.6 million to US$13.2 million by September 30, 2025, while total shareholders’ equity rose to US$16.0 million. Future filings will show how this capital is deployed into technology, new markets such as Thailand via the TVA Capital MOU, and broader Asia Pacific and Middle East expansion to sustain growth and profitability.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of February, 2026

Commission File Number: 001-42703

ENIGMATIG LIMITED

(Exact name of registrant as specified in its charter)

c/o 16 Raffles Quay, #30-01, Hong Leong Building, Singapore, 048581

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release – Enigmatig Reports 12.2% Revenue Growth and 68.8% Gross Margin in Fiscal 2025 Following NYSE American Listing

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	ENIGMATIG LIMITED
Date: February 17, 2026	By:	/s/ Foo Chee Weng Desmond
	Name:	Foo Chee Weng Desmond
	Title:	Director, Chairman and Chief Executive Officer

Exhibit 99.1

Enigmatig Reports 12.2% Revenue Growth and 68.8% Gross Margin in Fiscal 2025 Following NYSE American Listing

Singapore, February 17, 2026 (Globe Newswire) – Enigmatig Limited (NYSE American: EGG) (“Enigmatig” or the “Company”), a global business enabler supporting companies expanding across borders, today announced audited financial results for the fiscal year ended September 30, 2025. Revenue increased 12.2% year over year, with gross margin expanding to 68.8% and a strengthened balance sheet following the Company’s NYSE American listing. The Company also announced that it has filed its annual report on Form 20-F for the fiscal year ended September 30, 2025 with the U.S. Securities and Exchange Commission.

Fiscal Year 2025 Financial Highlights

●	Total corporate services income increased by 12.2% to US$4.5 million for fiscal year 2025, compared with US$4.0 million for fiscal year 2024.
●	Cost of sales was US$1.4 million for fiscal year 2025, compared with US$1.3 million for fiscal year 2024.
●	Gross profit increased by 14.9% to US$3.1 million for fiscal year 2025, compared with US$2.7 million for fiscal year 2024.
●	Profit from operations was US$0.5 million for fiscal year 2025, compared with US$1.0 million for fiscal year 2024.
●	Net profit was US$0.6 million for fiscal year 2025, compared with US$0.8 million for fiscal year 2024.

Business Updates

●	In August 2025, the Company celebrated its IPO listing with a bell-ringing ceremony at the New York Stock Exchange (“NYSE”), marking a major milestone in its global expansion journey.
●	In September 2025, the Company signed a Memorandum of Understanding (MOU) with Thailand-based TVA Capital Consultancy Co., Ltd. (“TVA Capital”) to jointly pursue opportunities in corporate and financial advisory as well as M&A. This collaboration marks the Company’s first strategic partnership since its NYSE listing and establishes Thailand as a gateway for further expansion in Asia Pacific.

Management Quotes

“Fiscal 2025 marked our transition from a privately operated business to a publicly listed growth company with the operational scale to drive our next phase of development,” said Desmond Foo, Enigmatig’s Founder and CEO. “Supported by revenue growth, margin improvement, and a strengthened balance sheet following our IPO, we remain focused on expanding across high-growth markets in Asia Pacific and the Middle East, investing in technology, and forming strategic partnerships to drive long-term shareholder value.”

“We delivered double-digit revenue growth and increased gross margins to 68.8% for 2025, driven by robust demand for our recurring corporate secretarial services, demonstrating the scalability of our model, said Mingwen Teo, Enigmatig’s Director and CFO. “While reported net profit reflects one-off IPO-related expenses, our core operating performance remains strong. With US$13.2 million in cash, we are well-positioned to invest in technology and infrastructure that enhance operation leverage and support sustainable growth and expansion.”

Fiscal Year 2025 Financial Results

Corporate Services Income

Corporate services income grew by 12.2% year-over-year to US$4.5 million for fiscal year 2025, up from US$4.0 million in fiscal year 2024. The increase was primarily attributable to expanded service scopes and deepened relationships within our existing client base, supported by the onboarding of new clients.

The table below sets forth the breakdown of our corporate services income for the periods indicated:

		For the Year Ended September 30,
		2024								2025
		US$				%				US$				%
Corporate services income:
License application and renewal services			2,126,338				53.6	%			2,215,522				49.8	%
Corporate secretarial and other services			1,841,464				46.4	%			2,236,184				50.2	%
Total			3,967,802				100.0				4,451,706				100.0

●

License application and renewal services. Income from license application and renewal services increased by 4.2% to US$2.2 million, up from US$2.1 million for the prior year, reflecting steady demand from our established client base. While the segment continued to grow, its contribution to total revenue shifted to 49.8% from 53.6% in the prior year, in line with the Company’s strategic initiative to diversify its service offerings, capturing broader value across the client lifecycle.

●

Corporate secretarial and other services. Income from corporate secretarial and other services rose by 21.4% to US$2.2 million from US$1.8 million for fiscal year 2024, fueled by stronger engagement among both new and existing clients. This faster-growing segment now represents 50.2% of total revenue, up 3.8 percentage points year over year, demonstrating successful execution of our diversification strategy.

Cost of Sales

Cost of sales was US$1.4 million for fiscal year 2025, compared to US$1.3 million for fiscal year 2024. The Company’s cost of sales primarily comprises staff costs, license application and renewal services costs, and corporate secretarial and related services costs. While total costs increased year over year, the Company benefited from economies of scale, with fixed costs more efficiently absorbed across a larger revenue base.

Gross Profit

Gross profit increased by 14.9% to US$3.1 million from US$2.7 million for fiscal year 2024. Gross margin for fiscal year 2025 expanded to 68.8%, compared to 67.1% for fiscal year 2024, reflecting improved operating leverage and enhanced service efficiency.

Operating Expenses

Operating expenses totaled US$2.5 million, compared with US$1.6 million for fiscal year 2024. The increase was primarily driven by non-recurring IPO-related expenses, including professional service fees and Directors and Officers liability insurance.

Profit from Operations

Profit from operations reached US$0.5 million, compared with US$1.0 million for fiscal year 2024.

Other Income

Other income totaled US$0.3 million, compared to a loss of US$0.06 million for fiscal year 2024. The increase was primarily driven by interest income and a release of customer deposits.

Net Profit

The Company reported net profit of US$0.6 million for fiscal year 2025, compared with US$0.8 million for fiscal year 2024.

Cash and Cash Equivalents

As of September 30, 2025, the Company had cash and cash equivalents of US$13.2 million, compared with US$1.6 million as of September 30, 2024, strengthening its financial position following its successful IPO.

Annual Report on Form 20-F

The Company’s Annual Report on Form 20-F for the fiscal year ended September 30, 2025 has been filed with the SEC and is available on the Investor Relations section of the Company’s website at http://investors.enigmatig.com and on the SEC’s website at www.sec.gov. Shareholders may receive a hard copy of the Company’s complete audited financial statements free of charge upon request.

Note: Unless otherwise stated, all financial results are prepared in accordance with U.S. Generally Accepted Principles (U.S. GAAP)

About Enigmatig Limited

Enigmatig is a global business enabler supporting companies in achieving their international ambitions. Since 2010, we have provided expertise, infrastructure, and regulatory guidance to help businesses operate and scale across borders.

With capabilities spanning licensing, fintech, regtech and other corporate services, Enigmatig delivers tailored solutions across the business lifecycle — from incorporation to ongoing compliance. Our team navigates complex regulatory environments across major financial hubs and key offshore centers, including London, Cyprus, and Belize.

Headquartered in Singapore, with a presence in Hong Kong, Shanghai, London, and Bangkok, Enigmatig serves a diverse and growing international client base. For more information, please visit: https://enigmatig.com

Safe Harbor Statement

Certain statements in this announcement are forward-looking statements. 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. Investors can identify these forward-looking statements by words or phrases such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “aim,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “is/are likely to,” “potential,” “project” or “continue” or the negative of these terms or other comparable or similar terminology. 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 you that such expectations will turn out to be correct, and 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, which are available for review at www.sec.gov.

For investor and media inquiries, please contact:

Enigmatig Investor Relations

Email: investors@enigmatig.com

ENIGMATIG LIMITED

CONSOLIDATED BALANCE SHEETS

(In U.S. dollars, except for share and per share data, or otherwise noted)

		As of
		September 30, 2024				September 30, 2025
ASSETS
Current assets
Cash and cash equivalents		$	1,593,037			$	13,206,006
Accounts receivable, net			1,081,866				1,237,290
Contract assets			528,342				46,347
Other current assets			153,241				578,783
Due from related party			-				29,733
Total current assets			3,356,486				15,098,159
Non-current assets
Property and equipment, net			731				218,450
Right-of-use assets, net			104,911				721,176
Deposits			21,549				2,179,519
Total non-current assets			127,191				3,119,145
Total assets		$	3,483,677			$	18,217,304
LIABILITIES
Current liabilities
Accounts payable		$	327,992			$	334,923
Accrual and other liabilities			205,875				122,783
Contract liabilities			1,048,934				765,229
Operating lease liabilities, current			58,561				300,824
Income taxes payable			28,230				293,088
Total current liabilities			1,669,592				1,816,847
Non-current liabilities
Operating lease liabilities, non-current			33,557				407,622
Total non-current liabilities			33,557				407,622
Total liabilities		$	1,703,149			$	2,224,469

ENIGMATIG LIMITED

CONSOLIDATED BALANCE SHEETS

(In U.S. dollars, except for share and per share data, or otherwise noted)

		As of
		September 30, 2024				September 30, 2025
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Class A ordinary shares, US$0.000002 par value, 17,500,000,000 shares authorized, 12,255,200 and 9,250,000 issued and outstanding as of September 30, 2025 and 2024			19				25
Class B ordinary shares, US$0.000002 par value, 7,500,000,000 shares authorized, 15,750,000 issued and outstanding as of September 30, 2025 and 2024			31				31
Additional paid-in capital		$	117,320			$	13,801,234
Retained earnings			1,519,286				2,078,949
Accumulated other comprehensive (loss) income			143,872				112,596
Total shareholders’ equity			1,780,528				15,992,835
Total liabilities and shareholders’ equity		$	3,483,677			$	18,217,304

ENIGMATIG LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(In U.S. dollars, except for share and per share data, or otherwise noted)

		For the Year Ended September 30,
		2024				2025
Corporate services income		$	3,967,802			$	4,451,706
Cost of sales			(1,304,075	)			(1,390,929	)
Gross profit			2,663,727				3,060,777
Operating expenses:
Payroll and employee benefits			(426,445	)			(546,951	)
Depreciation expenses			(5,818	)			(33,039	)
Operating lease expenses			(95,532	)			(208,429	)
Other operating expenses			(1,113,213	)			(1,734,361	)
Total operating expenses			(1,641,008	)			(2,522,780	)
Profit from operations			1,022,719				537,997
Other (loss)/income:
Other (loss)/income, net			(59,315	)			317,168
Total other (loss)/income			(59,315	)			317,168
Profit before tax expense			963,404				855,165
Income tax expense			(142,212	)			(295,502	)
Net profit			821,192				559,663
Other comprehensive income:
Foreign currency translation adjustment, net of income tax			146,659				(31,276	)
Total comprehensive income		$	967,851			$	528,387
Net Income (loss) per share attributable to ordinary shareholders
Basic and diluted			0.03				0.02
Weighted average number of ordinary shares used in computing net income per share
Basic and diluted			25,000,000				25,872,743

FAQ

How did Enigmatig (EGG) perform financially in fiscal year 2025?

Enigmatig delivered higher revenue and margins in fiscal 2025. Corporate services income rose 12.2% to US$4.5 million, while gross profit increased 14.9% to US$3.1 million. Gross margin expanded to 68.8%, reflecting better operating efficiency despite higher operating expenses.

What happened to Enigmatig (EGG) profits in fiscal 2025 compared with 2024?

Enigmatig remained profitable but with lower earnings year over year. Profit from operations decreased to US$0.5 million from US$1.0 million, and net profit declined to US$0.6 million from US$0.8 million, mainly due to higher, largely IPO-related operating expenses.

How strong is Enigmatig (EGG)’s balance sheet after its NYSE American listing?

The IPO significantly strengthened Enigmatig’s financial position. Cash and cash equivalents increased to US$13.2 million as of September 30, 2025, up from US$1.6 million a year earlier. Total assets reached US$18.2 million, and shareholders’ equity rose to about US$16.0 million.

How is Enigmatig (EGG)’s revenue mix changing between service lines?

Enigmatig is shifting toward faster-growing corporate secretarial and other services. This segment rose 21.4% to US$2.2 million and reached 50.2% of revenue. License application and renewal services grew 4.2% to US$2.2 million, representing 49.8% of total corporate services income.

Did Enigmatig (EGG) file its Form 20-F for fiscal 2025?

Yes. Enigmatig filed its Annual Report on Form 20-F for the year ended September 30, 2025 with the SEC. The report is available on the company’s investor relations website and on the SEC’s website, and shareholders can request printed financials free of charge.

What strategic initiatives did Enigmatig (EGG) pursue alongside its IPO?

Alongside its NYSE American listing, Enigmatig focused on regional expansion and partnerships. It held an NYSE bell-ringing ceremony and signed an MOU with Thailand-based TVA Capital to jointly pursue corporate and financial advisory and M&A opportunities across Asia Pacific.

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