1.Sales and profit
See section β- Solowin Holdings, Ltd. had $28.0M of revenue in fiscal 2026, up 895.0% on the year before.
- Solowin Holdings, Ltd. lost $13.3M in fiscal 2026.
Solowin Holdings, Ltd.
AXG Nasdaq Security Brokers, Dealers & Flotation Companies Financials FY2022βFY2026
Solowin Holdings, Ltd. had $28.0M of revenue in fiscal 2026, up 895.0% on the year before.
- Today
- 0.7%
- Previous close
- $0.05
- Market cap
- $6.7M
- P/E
- β
- 52-week range
-
$0.05 $4.69
Last close Β· Oct 26, 2026
$0.05
β$3.73 (β98.58%) past year
KIRAβs summary AI analyst
Hi! I read Solowin Holdings, Ltd.βs latest annual report (fiscal 2026). Here is what stands out:
1 strength 3 to watch
2.Cash and shareholders
See section β- Free cash flow was β$15.5M in fiscal 2026, β55.3% of revenue.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- Solowin Holdings, Ltd. passes 3 of 7 financial health tests (Piotroski F-score).
Solowin Holdings, Ltd. in 30 seconds
Good So-so Weak
Good
Are sales growing?
+895.0%
Yes. Sales grew 895.0% last year.
Weak
Does it make a profit?
β47.4%
No. It lost money last year.
Weak
Does profit turn into cash?
β55.3%
No. It spent more cash than it brought in.
Weak
How healthy are the accounts?
3 / 7
Weak. It passes 3 of 7 health tests.
For information
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2026
Market cap
Last close times the latest diluted share count, so it is approximate.
$6.7M
Oct 26 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$0.11 EPS (TTM)
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
KIRA summarises the numbers
-
Solowin Holdings, Ltd. had $28.0M of revenue in fiscal 2026, up 895.0% on the year before.
Revenue
FY22
Revenue $3.3M
FY23
Revenue $4.5M
FY24
Revenue $4.3M
FY25
Revenue $2.8M
FY26
Revenue $28.0M
Margins, % of revenue
FY22
Gross β
Operating 6.0%
Net β30.1%
FCF β176.8%
FY23
Gross β
Operating 1.4%
Net 30.3%
FCF β10.1%
FY24
Gross β
Operating 0.1%
Net β106.2%
FCF β134.0%
FY25
Gross β
Operating β
Net β302.9%
FCF β40.6%
FY26
Gross β
Operating β
Net β47.4%
FCF β55.3%
Gross
Operating
Net
FCF
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Net income and earnings per share
Loss periods are shown in red.
KIRA summarises the numbers
-
Solowin Holdings, Ltd. lost $13.3M in fiscal 2026.
Net income
FY22
Net income β$1.0M
FY23
Net income $1.3M
FY24
Net income β$4.6M
FY25
Net income β$8.5M
FY26
Net income β$13.3M
Diluted EPS
FY22
Diluted EPS β$0.09
FY23
Diluted EPS $0.11
FY24
Diluted EPS β$0.33
FY25
Diluted EPS β$0.53
FY26
Diluted EPS β$0.11
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
KIRA summarises the numbers
-
Free cash flow was β$15.5M in fiscal 2026, β55.3% of revenue.
Free cash flow
FY22
Free cash flow β$5.8M
FY23
Free cash flow β$0.5M
FY24
Free cash flow β$5.7M
FY25
Free cash flow β$1.1M
FY26
Free cash flow β$15.5M
Cash from operations vs capital spending
FY22
Cash from operations β$5.7M
Capital spending $0.0M
FY23
Cash from operations β$0.4M
Capital spending $0.0M
FY24
Cash from operations β$5.6M
Capital spending $0.1M
FY25
Cash from operations β$1.1M
Capital spending $0.1M
FY26
Cash from operations β$15.3M
Capital spending $0.2M
Cash from operations
Capital spending
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Dividends, buybacks and share count
Dividends and buybacks
FY22
Dividends β
Buybacks β
FY23
Dividends β
Buybacks β
FY24
Dividends β
Buybacks β
FY25
Dividends β
Buybacks β
FY26
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY22
Diluted shares 0.01B
FY23
Diluted shares 0.01B
FY24
Diluted shares 0.01B
FY25
Diluted shares 0.02B
FY26
Diluted shares 0.12B
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
KIRA summarises the numbers
-
No open-market insider trades in the last 12 months.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably Solowin Holdings, Ltd. can carry it.
Cash vs debt (incl. leases)
FY22
Cash $1.0M
Debt β
FY23
Cash $1.9M
Debt β
FY24
Cash $2.1M
Debt β
FY25
Cash $3.8M
Debt $0.0M
FY26
Cash $16.8M
Debt β
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.0M | $1.9M | $2.1M | $3.8M | $16.8M |
| Debt incl. finance leases | β | β | β | $0.0M | β |
| Debt / equity | β | β | β | 0.0x | β |
| Interest coverage | 0.9x | β | β | β | β |
| Current ratio | β | 1.4x | 2.1x | 1.3x | 1.5x |
| Quick ratio | β | 1.4x | 2.1x | 1.3x | 1.5x |
| Total assets | $9.5M | $10.2M | $15.4M | $12.3M | $50.7M |
| Total liabilities | $7.5M | $6.9M | $6.5M | $7.6M | $25.6M |
| Shareholders' equity | $2.0M | $3.3M | $8.9M | $4.7M | $25.2M |
| Net debt (β = net cash) | β | β | β | β$3.8M | β |
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Return on capital, equity and assets (annual)
FY22
Return on capital β
Return on equity β49.0%
Return on assets β10.3%
FY23
Return on capital β
Return on equity 50.5%
Return on assets 13.7%
FY24
Return on capital β
Return on equity β74.3%
Return on assets β35.6%
FY25
Return on capital β
Return on equity β125.1%
Return on assets β61.6%
FY26
Return on capital β
Return on equity β88.9%
Return on assets β42.2%
Return on capital
Return on equity
Return on assets
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
KIRA summarises the numbers
-
Solowin Holdings, Ltd. passes 3 of 7 financial health tests (Piotroski F-score).
| Test | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β |
| F-score | β / 3 | β / 6 | 1 / 7 | 1 / 7 | 3 / 7 |
| Accruals ratio | 50.3% | 18.2% | 8.2% | β54.0% | 6.5% |
| Altman Z'' | β | 1.98 | 3.06 | β | β |
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
All figures
Every number, year by year.
5 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $3.3M | $4.5M | $4.3M | $2.8M | $28.0M |
| Operating income | $0.2M | $0.1M | $0.0M | β | β |
| Interest expense | $0.2M | β | β | $0.0M | β |
| Pretax income | β$1.0M | $1.3M | β$4.4M | β$8.5M | β$13.3M |
| Income tax | β | β | $0.2M | $0.0M | β |
| Net income | β$1.0M | $1.3M | β$4.6M | β$8.5M | β$13.3M |
| Diluted EPS | β$0.09 | $0.11 | β$0.33 | β$0.53 | β$0.11 |
| Diluted shares | 0.01B | 0.01B | 0.01B | 0.02B | 0.12B |
| Cash flow | |||||
| Cash from operations | β$5.7M | β$0.4M | β$5.6M | β$1.1M | β$15.3M |
| Capital expenditure | $0.0M | $0.0M | $0.1M | $0.1M | $0.2M |
| Free cash flow | β$5.8M | β$0.5M | β$5.7M | β$1.1M | β$15.5M |
| Depreciation and amortization | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M |
| Stock-based compensation | β | β | $3.8M | $3.3M | $3.2M |
| Balance sheet | |||||
| Cash and short-term investments | $1.0M | $1.9M | $2.1M | $3.8M | $16.8M |
| Total debt | β | β | β | $0.0M | β |
| Loans, net | β | β | $0.6M | β | β |
| Current assets | β | $9.7M | $12.8M | $9.7M | $37.7M |
| Current liabilities | β | $6.8M | $6.0M | $7.5M | $24.4M |
| Property and equipment, net | β | $0.0M | $0.2M | $0.2M | $0.3M |
| Goodwill | β | β | β | β | $0.0M |
| Intangible assets | β | $0.1M | $0.1M | $0.1M | $0.6M |
| Total assets | $9.5M | $10.2M | $15.4M | $12.3M | $50.7M |
| Total liabilities | $7.5M | $6.9M | $6.5M | $7.6M | $25.6M |
| Shareholders' equity | $2.0M | $3.3M | $8.9M | $4.7M | $25.2M |
| Margins | |||||
| Operating margin | 6.0% | 1.4% | 0.1% | β | β |
| EBITDA margin | 6.6% | 1.8% | 0.6% | β | β |
| Net margin | β30.1% | 30.3% | β106.2% | β302.9% | β47.4% |
| FCF margin | β176.8% | β10.1% | β134.0% | β40.6% | β55.3% |
| Returns | |||||
| Return on capital employed | β | 1.8% | 0.0% | β | β |
| Return on equity | β49.0% | 50.5% | β74.3% | β125.1% | β88.9% |
| Return on assets | β10.3% | 13.7% | β35.6% | β61.6% | β42.2% |
| Return on tangible equity | β49.0% | 41.2% | β51.5% | β183.8% | β54.2% |
| Growth | |||||
| Revenue growth | β | 36.8% | β3.6% | β34.3% | 895.0% |
| Net income growth | β | β | β437.7% | β | β |
| EPS growth | β | β | β400.0% | β | β |
| Share count change | β | 15.8% | 14.4% | 17.5% | 674.4% |
| Financial health | |||||
| Debt / equity | β | β | β | 0.0x | β |
| Interest coverage | 0.9x | β | β | β | β |
| Current ratio | β | 1.4x | 2.1x | 1.3x | 1.5x |
| Quick ratio | β | 1.4x | 2.1x | 1.3x | 1.5x |
| Capital allocation | |||||
| Capex / revenue | 0.5% | 0.2% | 3.3% | 3.1% | 0.7% |
| Stock comp / revenue | β | β | 88.8% | 117.5% | 11.5% |
| Quality scores | |||||
| Piotroski F-score | β | β | 1.0 | 1.0 | 3.0 |
| Altman Z'' | β | 2.0 | 3.1 | β | β |
| Accruals ratio | 50.3% | 18.2% | 8.2% | β54.0% | 6.5% |
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
Source: SEC EDGAR XBRL filings (CIK 0001959224). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.