HomesToLife (Nasdaq: HTLM) nearly doubles FY2025 profit and guides higher revenue

Rhea-AI Filing Summary

HomesToLife Ltd reported a strong FY2025 performance with net income rising 97% to US$16.6 million and earnings per share of US$0.185. Net revenue grew 13% to US$377.9 million, led by a 12% increase in export revenue to US$349.6 million, particularly in Europe and North America.

Gross profit rose 27% to US$105.3 million and gross margin improved from 24.8% to 27.9%, reflecting better pricing and efficiency. Operating expenses increased 17% to US$86.0 million, mainly from higher selling expenses and freight costs, but income from operations more than doubled to US$19.4 million.

In 4Q2025, revenue grew 7% to US$102.8 million and net income jumped 358% to US$3.4 million. Operating cash flow improved sharply to US$13.5 million, and as of December 31, 2025, the company held US$27.3 million in cash against US$10.4 million of short-term borrowings. Management guides FY2026 revenue between US$400 million and US$420 million, citing continued export growth while monitoring geopolitical and supply chain risks.

Positive

• Profitability surged: FY2025 net income rose 97% to US$16.6 million, with earnings per share increasing to US$0.185 and income from operations more than doubling to US$19.4 million.
• Margins and cash flow improved: Gross margin expanded from 24.8% to 27.9%, while operating cash flow increased from US$0.4 million to US$13.5 million, and year-end cash of US$27.3 million exceeded short-term borrowings of US$10.4 million.
• Growth outlook provided: Management estimates FY2026 revenue between US$400 million and US$420 million, signalling expectations of continued top-line expansion from the FY2025 level of US$377.9 million.

Negative

• None.

Insights

Equity research analyst

Results show strong profit recovery, margin gains and solid cash generation.

HomesToLife delivered 13% revenue growth to US$377.9 million in FY2025, but profit growth was much stronger. Net income nearly doubled to US$16.6 million as gross margin expanded 3.1 percentage points to 27.9%, helped by higher export volumes and better mix.

Operating expenses rose 17%, driven by selling costs and a 52% jump in freight, yet income from operations still increased 104% to US$19.4 million. Operating cash flow improved from US$0.4 million to US$13.5 million, and year-end cash of US$27.3 million exceeded short-term borrowings of US$10.4 million, supporting balance sheet strength.

Management’s FY2026 revenue estimate of US$400–420 million implies continued growth from the FY2025 base. They highlight geopolitical tensions, energy-price volatility and supply-chain disruptions as external risks. Future filings will show how export demand, freight costs and margins evolve against this guidance.

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 month of March 2026

Commission File Number: 001-42290

HOMESTOLIFE LTD

(Registrant’s Name)

6 Raffles Boulevard, #02-01/02

Marina Square, Singapore 039594

(Address of Principal Executive Offices)

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 ☐

EXPLANATORY NOTE

Explanatory Note:

On March 23, 2026, HomesToLife Ltd (the “Company”) issued a press release. A copy of the press release is furnished as Exhibit 99.1 to this Report on Form 6-K.

Exhibits No.		Description
99.1		Press release dated March 23, 2026

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.

	HomesToLife Ltd
Date: March 23, 2026	By:	/s/ Phua Mei Ming
	Name:	Phua Mei Ming
	Title:	Chief Executive Officer

Exhibit 99.1

HomesToLife Delivers 97% Jump in FY2025 Net Profit to US$16.6 Million

Export expansion and improved margins underpin sustained performance

SINGAPORE, Mar. 23, 2026 – HomesToLife Ltd (Nasdaq: HTLM) (“HomesToLife” or the “Company”), a Singapore-based home furniture company with sales across Asia-Pacific, Europe and North America, today announced its audited financial results for the fiscal year ended December 31, 2025 (“FY2025”).

“We are pleased to deliver strong operational and financial results for the full year, underpinned by our diversified export model and disciplined capital management,” said Ms. Phua Mei Ming, Chief Executive Officer of HomesToLife. “As we move forward, we will continue to execute our expansion strategy, deepen our presence in key markets, and ensure that HomesToLife remains well positioned to capture new growth opportunities.”

Key Financial Highlights

		FY2024				FY2025				Chg				4Q2024				4Q2025				Chg
		US$’000				US$’000				(%)				US$’000				US$’000				(%)
Net revenue			335,061				377,876				13	%			96,097				102,799				7	%
Export			312,043				349,599				12	%			88,491				94,690				7	%
Retail			4,564				9,116				100	%			1,620				3,429				112	%
Leather			18,454				19,161				4	%			5,986				4,680				(22	)%
By geographical			335,061				377,876				13	%			96,097				102,799				7	%
Asia Pacific			95,848				101,606				6	%			25,510				26,469				4	%
Europe			196,592				225,547				15	%			58,730				59,605				1	%
North America			42,621				50,723				19	%			11,857				16,725				41	%
Gross profit			83,028				105,305				27	%			22,147				29,171				32	%
Gross margin (%)			24.8	%			27.9	%			3.1 pp				23.0	%			28.4	%			5.4 pp
Operating expenses			73,516				85,934				17	%			20,940				23,776				14	%
Selling expenses			54,727				66,332				21	%			15,076				18,958				26	%
General and Administrative			17,349				18,337				6	%			4,910				4,525				(8	)%
Listing expenses			1,440				1,265				(12	)%			953				293				(69	)%
Income from operations			9,512				19,371				104	%			1,207				5,395				347	%
Net income			8,421				16,554				97	%			742				3,396				358	%
Earnings per share (Basic and diluted)			0.094				0.185				97	%			0.008				0.038				358	%

Financial results for FY2025, the fiscal year ended December 31, 2024 (“FY2024”), the fourth quarter of 2025 (“4Q2025”) and the fourth quarter of 2024 (“4Q2024”), unless otherwise stated, reflect the inclusion of HTL Marketing Pte. Ltd.(“HTL Marketing”) because of the acquisition of 100% of equity interests in HTL Marketing completed on May 19, 2025.

Page 1 of 5

FY2025 Performance

The Company reported a 13% year-on-year (“YoY”) increase in net revenue to $377.9 million in FY2025, driven by a 12% YoY rise in export revenue to $349.6 million. This growth was supported by stronger export sales across Europe (+15%) and North America (+19%). Revenue from retail doubled to $9.1 million, reflecting contributions from an expanded retail footprint in Korea. In line with revenue, gross profit rose 27% to $105.3 million while gross margin improved by 3.1 percentage points to 27.9% for FY2025.

For FY2025, total operating expenses rose 17% YoY to $86.0 million, driven by a $11.6 million increase in selling expenses. This increase reflected higher sales volumes alongside elevated freight costs, which rose 52% in FY2025.

General and administrative expenses rose 6% to $18.3 million in FY2025, mainly due to higher staff costs and expenses related to the business expansion.

The Company reported foreign exchange gains of $3.5 million in FY2025, compared to gains of $2.2 million in FY2024, primarily due to favorable movements in Euro (EUR) and Pound Sterling (GBP) offset by the depreciation of Chinese Renminbi (CNH) against the U.S. dollar (USD) during the period.

Net income for FY2025 rose 97% to $16.6 million, compared to a net income of $8.4 million in FY2024, translating to earnings per share of $0.185 per share. Return on average common shareholders’ equity (ROE) stood at 86%.

4Q2025 Performance

The Company reported revenue of $102.8 million in FY2025, with the increase of 7% YoY, underpinned by stronger export sales across North America (+41%), and contributions following an expansion of retail outlets in Korea.

Gross profit increased by 32% to $29.2 million, with gross margin expanding by 5.4 percentage points to 28.4%, driven by higher export volumes and operational efficiency. During the quarter, the Company also recorded lower listing expenses following IPO-related costs incurred in the prior year. Accordingly, net income rose 358% to $3.4 million, translating to an earnings per share of $0.038 per share.

Financial Position

In FY2025, cash flow generated from operating activities increased significantly from $0.4 million in FY2024 to $13.5 million in FY2025, in line with expanded business operations, higher profitability and improved working capital management.

As of December 31, 2025, the Company remained in a healthy financial position, with $27.3 million in cash and bank balances. Total borrowings stood at $10.4 million, comprising of short-term trade financing to support higher working capital requirements from export growth.

Page 2 of 5

Outlook

The Company estimates its FY2026 revenue to range between $400 million to $420 million, reflecting continued growth driven by a robust export market, barring any unforeseen circumstances. The Company plans to continue to monitor evolving geopolitical developments, including ongoing conflicts that may impact global trade flows and supply chains.

HomesToLife expects that it will continue to be supported by its robust balance sheet and will practice disciplined capital deployment to ensure that it is well positioned to capture new opportunities for future growth.

The Company also plans to monitor geopolitical developments in the Middle East. While there has been no material impact on the Company’s 2025 financial performance, the Company expects to remain attentive to potential secondary effects, including volatility in global energy prices, supply chain disruptions, and fluctuations in raw material costs and currency markets. The Company’s guidance for 2026 reflects current market conditions, and the Company plans to provide updates as appropriate should conditions evolve.

About HomesToLife Ltd (Nasdaq: HTLM)

HomesToLife Ltd is a global furniture company with three core divisions: : (i) export division for supplying furniture to retail partners worldwide, (ii) leather trading division, and (iii) consumer retail division with direct operations in Singapore and Korea.

Leveraging more than 50 years of heritage built by its founders, the Company combines retail, distribution, and sourcing, supported by a diversified manufacturing network across China, Vietnam, and India.

In May 2025, the Company strengthened its design, product development and merchandising function through the acquisition of HTL Marketing.

The Company is fast expanding across Europe, Asia-Pacific, and North America, leveraging long-standing supplier partnerships and a global presence to deliver scale, efficiency, and resilience.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release 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 financial condition, results of operations, business strategy and financial needs of the Company and its subsidiaries. Forward-looking statements can be identified by the words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this press release. 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.

Contacts

HomesToLife Ltd Contact:

6 Raffles Boulevard, #02-01/02

Marina Square, Singapore 039594

Email: Investor@homestolife.com

Investor Relations Inquiries:

Edelman Smithfield

Jass Lim/Enya Rodrigues

HomesToLife@edelmansmithfield.com

Page 3 of 5

HOMESTOLIFE LTD AND SUBSIDIARIES

CONSOLIDATED AND COMBINED BALANCE SHEETS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

		As of December 31,
		2024				2025
ASSETS
Current assets:
Cash and cash equivalents		$	24,860,621			$	27,276,091
Accounts receivable, net (including receivable from related parties of $928,951 and $5,763,509 as of December 31, 2024 and 2025, respectively)			66,928,602				76,010,709
Inventories, net			8,032,089				9,599,490
Amounts due from related parties			2,807,854				7,026,092
Deposit, prepayments and other receivables			5,145,372				5,853,470
Total current assets			107,774,538				125,765,852
Non-current assets:
Property, plant and equipment, net			3,734,157				4,354,206
Right-of-use assets, net			6,632,749				7,363,312
Other non-current assets			-				1,000,000
Deferred tax asset, net			636,581				673,416
Total non-current assets			11,003,487				13,390,934
TOTAL ASSETS		$	118,778,025			$	139,156,786
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	2,701,283			$	4,475,242
Accounts payable, related parties			72,724,799				74,890,989
Customer deposits			853,626				1,195,989
Accrued liabilities and other payables			4,428,806				6,065,126
Short-term borrowings			15,255,874				10,389,094
Amounts due to related parties			292,753				-
Lease liabilities, current			2,100,281				1,924,657
Warranty liabilities			2,095,842				2,188,814
Derivatives financial instruments			-				74,765
Income tax payable			2,467,506				4,156,085
Total current liabilities			102,920,770				105,360,761
Long-term liabilities:
Provision for reinstatement cost			262,479				382,112
Lease liabilities			4,883,321				5,572,603
Total long-term liabilities			5,145,800				5,954,715
TOTAL LIABILITIES			108,066,570				111,315,476
Commitments and contingencies			-				-
Shareholders’ equity:
Ordinary share, $0.0001 par value, 500,000,000 shares authorized,89,687,500 and 89,687,500 shares issued and outstanding as of December 31, 2024 and 2025, respectively*			8,969				8,969
Additional paid-in capital			37,179,424				37,179,424
Accumulated other comprehensive loss			(12,686,896	)			(12,111,193	)
(Accumulated losses) retained earnings			(13,790,042	)			2,764,110
Total shareholders’ equity			10,711,455				27,841,310
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	118,778,025			$	139,156,786

* The shares amounts are presented on a retroactive basis, giving the effect from the completion of common control acquisition.

Page 4 of 5

HOMESTOLIFE LTD AND SUBSIDIARIES

CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME

(Currency expressed in United States Dollars (“US$”), except for number of shares)

		Years ended December 31,
		2023				2024				2025
Revenues, net
From third parties		$	316,003,465			$	315,867,933			$	356,187,074
From related parties			9,981,004				19,192,918				21,689,049
			325,984,469				335,060,851				377,876,123
Cost of goods sold			(239,738,076	)			(252,032,836	)			(272,571,322	)
Gross profit			86,246,393				83,028,015				105,304,801
Operating expenses:
Sales and distribution expenses			(51,622,790	)			(54,727,281	)			(66,331,518	)
General and administrative expenses			(17,400,101	)			(17,348,952	)			(18,336,882	)
Listing expenses			-				(1,440,130	)			(1,265,042	)
Total operating expenses			(69,022,891	)			(73,516,363	)			(85,933,442	)
Income from operations			17,223,502				9,511,652				19,371,359
Total other (expense) income, net			(5,042,120	)			1,324,861				1,382,613
Income before income taxes			12,181,382				10,836,513				20,753,972
Income tax expense			(1,864,201	)			(2,415,742	)			(4,199,820	)
NET INCOME		$	10,317,181			$	8,420,771			$	16,554,152

Page 5 of 5

FAQ

How did HomesToLife (HTLM) perform financially in FY2025?

HomesToLife delivered strong FY2025 results, with net revenue up 13% to US$377.9 million and net income rising 97% to US$16.6 million. Earnings per share reached US$0.185, supported by higher export sales and improved gross margins across key regions.

What drove HomesToLife’s revenue growth in FY2025?

Revenue growth was driven mainly by exports, which increased 12% to US$349.6 million, supported by stronger sales in Europe and North America. Retail revenue doubled to US$9.1 million, helped by an expanded retail footprint in Korea and contributions from HTL Marketing.

How did HomesToLife’s profitability and margins change in FY2025?

Profitability improved significantly. Gross profit rose 27% to US$105.3 million, with gross margin widening from 24.8% to 27.9%. Income from operations more than doubled to US$19.4 million, and net income increased to US$16.6 million, reflecting better efficiency and mix.

What were HomesToLife’s 4Q2025 financial results?

In 4Q2025, HomesToLife generated revenue of US$102.8 million, up 7% year-on-year. Gross margin expanded to 28.4%, and net income jumped to US$3.4 million, a 358% increase, helped by higher North American exports and lower listing expenses versus the prior year.

What is HomesToLife’s cash and debt position at year-end 2025?

As of December 31, 2025, HomesToLife held US$27.3 million in cash and bank balances. Total borrowings were US$10.4 million, mainly short-term trade financing, leaving the company with more cash than short-term debt and supporting its working capital needs.

What revenue guidance did HomesToLife provide for FY2026?

HomesToLife estimates FY2026 revenue between US$400 million and US$420 million, reflecting expected continued growth from exports. This guidance is based on current market conditions, with management monitoring geopolitical risks, energy prices, supply chains and currency movements.

How is HomesToLife managing geopolitical and supply chain risks?

The company is closely monitoring conflicts and geopolitical developments, including in the Middle East. While 2025 results saw no material impact, HomesToLife remains attentive to potential effects on energy prices, supply chains, raw material costs and currencies, and emphasizes disciplined capital deployment.

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 103.4 KB
• EX-99 GRAPHIC 10.3 KB