1.Sales and profit
See section β- Garden Stage Ltd had $7.3M of revenue in fiscal 2026, up 33.2% on the year before.
- Garden Stage Ltd lost $13.8M in fiscal 2026. From fiscal 2022 to 2026, diluted EPS grew 119.0% a year.
GSIW Nasdaq Security & Commodity Brokers, Dealers, Exchanges & Services Financials FY2022βFY2026
Garden Stage Ltd had $7.3M of revenue in fiscal 2026, up 33.2% on the year before.
Last close Β· Oct 26, 2026
$9.17
β$20.95 (β69.54%) past year
Hi! I read Garden Stage Ltdβs latest annual report (fiscal 2026). Here is what stands out:
Good So-so Weak
Are sales growing?
+33.2%
Yes. Sales grew 33.2% last year.
Does it make a profit?
β190.1%
No. It lost money last year.
How healthy are the accounts?
2 / 7
Weak. It passes 2 of 7 health tests.
How is the share priced?
6.6x
One share costs 6.6 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA summarises the numbers
Garden Stage Ltd had $7.3M of revenue in fiscal 2026, up 33.2% on the year before.
Revenue
Margins, % of revenue
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).
Loss periods are shown in red.
KIRA summarises the numbers
Garden Stage Ltd lost $13.8M in fiscal 2026.
From fiscal 2022 to 2026, diluted EPS grew 119.0% a year.
Net income
Diluted EPS
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.
How much cash comes in, and where does it go?
Cash from operations minus capital spending.
Free cash flow
Cash from operations vs 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 and buybacks
Diluted shares outstanding (annual)
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).
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.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Garden Stage Ltd can carry it.
Cash vs debt (incl. leases)
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $7.8M | $6.3M | $8.9M | $7.9M | $17.5M |
| Current ratio | β | 1.1x | 1.7x | 1.5x | 1.7x |
| Quick ratio | β | 1.1x | 1.7x | 1.5x | 1.7x |
| Total assets | β | $13.1M | $16.6M | $15.9M | $41.9M |
| Total liabilities | β | $11.2M | $7.3M | $9.2M | $17.7M |
| Shareholders' equity | $0.1M | $1.9M | $9.3M | $6.7M | $24.2M |
| Net debt (β = net cash) | β | β | β | β | 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.
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)
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
KIRA summarises the numbers
Garden Stage Ltd passes 2 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 / 4 | 2 / 7 | 3 / 7 | 2 / 7 |
| Accruals ratio | β | 12.7% | 16.8% | β19.5% | β33.2% |
| Altman Z'' | β | β | β | 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.
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $2.3M | $3.3M | $1.4M | $5.5M | $7.3M |
| Pretax income | β$0.5M | β$0.2M | β$4.6M | β$4.3M | β$13.9M |
| Income tax | $0.0M | β$0.0M | $0.0M | $0.0M | β$0.0M |
| Net income | β$0.5M | β$0.2M | β$4.6M | β$4.3M | β$13.8M |
| Diluted EPS | $0.06 | $0.02 | $0.49 | $0.47 | $1.38 |
| Diluted shares | 0.01B | 0.01B | 0.01B | 0.01B | 0.01B |
| Cash flow | |||||
| Cash from operations | β$6.9M | β$1.9M | β$7.1M | β$1.1M | β$4.2M |
| Capital expenditure | $0.0M | $0.0M | $0.0M | $0.2M | β |
| Free cash flow | β$6.9M | β$1.9M | β$7.1M | β$1.4M | β |
| Depreciation and amortization | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M |
| Stock-based compensation | β | β | $1.9M | $1.7M | $4.5M |
| Balance sheet | |||||
| Cash and short-term investments | $7.8M | $6.3M | $8.9M | $7.9M | $17.5M |
| Deposits | β | $0.8M | β | β | β |
| Current assets | β | $12.5M | $12.3M | $13.8M | $30.5M |
| Current liabilities | β | $11.2M | $7.1M | $9.1M | $17.7M |
| Inventory | β | β | β | β | $0.9M |
| Property and equipment, net | β | $0.0M | $0.0M | $0.2M | $0.2M |
| Intangible assets | β | $0.1M | $0.1M | $0.1M | $11.1M |
| Total assets | β | $13.1M | $16.6M | $15.9M | $41.9M |
| Total liabilities | β | $11.2M | $7.3M | $9.2M | $17.7M |
| Shareholders' equity | $0.1M | $1.9M | $9.3M | $6.7M | $24.2M |
| Margins | |||||
| Net margin | β22.2% | β6.4% | β325.8% | β79.0% | β190.1% |
| FCF margin | β300.8% | β58.2% | β503.5% | β25.0% | β |
| Returns | |||||
| Return on equity | β397.0% | β20.0% | β81.7% | β54.0% | β89.5% |
| Return on assets | β | β1.6% | β30.9% | β26.6% | β47.9% |
| Return on tangible equity | β397.0% | β11.0% | β49.8% | β65.0% | β105.5% |
| Growth | |||||
| Revenue growth | β | 41.3% | β56.8% | 288.1% | 33.2% |
| EPS growth | β | β66.7% | 2,350.0% | β4.1% | 193.6% |
| Share count change | β | 24.7% | β19.2% | 0.1% | 7.7% |
| Financial health | |||||
| Current ratio | β | 1.1x | 1.7x | 1.5x | 1.7x |
| Quick ratio | β | 1.1x | 1.7x | 1.5x | 1.7x |
| Capital allocation | |||||
| Capex / revenue | 0.8% | 0.7% | 0.1% | 4.0% | β |
| Stock comp / revenue | β | β | 132.9% | 30.8% | 62.2% |
| Quality scores | |||||
| Piotroski F-score | β | β | 2.0 | 3.0 | 2.0 |
| Accruals ratio | β | 12.7% | 16.8% | β19.5% | β33.2% |
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 0001954269). 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.