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Solowin (AXG) investor relations material

Solowin H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary30 Jun, 2025

Executive summary

  • Revenue for FY2025 was $2.82M, down 34% year-over-year, mainly due to a sharp decline in investment advisory fees and a reduced client base.

  • Net loss widened to $8.54M in FY2025 from $4.56M in FY2024, driven by higher professional fees, office expenses, and share-based compensation.

  • Corporate finance services revenue surged 733% to $999K, while virtual assets services launched and contributed $15K.

  • The company reorganized into four segments: Corporate Finance, Wealth Management, Asset Management, and Virtual Assets Services.

  • Top five clients accounted for 81% of total revenue in FY2025, indicating high client concentration risk.

Financial highlights

  • Total revenue: $2.82M in FY2025 vs. $4.29M in FY2024; investment advisory fees fell 64% to $1.03M.

  • Net loss: $8.54M in FY2025 vs. $4.56M in FY2024; loss per share: $0.53 vs. $0.33.

  • Expenses rose 26% to $10.95M, mainly due to professional fees ($4.67M), office expenses, and share-based compensation ($3.31M to a consultant).

  • Cash and equivalents at year-end: $3.84M, up from $2.14M; total assets: $12.3M.

  • No dividends declared or paid; all earnings retained for business expansion.

Outlook and guidance

  • Management expects continued operating and net losses as it invests in virtual assets and real-world asset development.

  • No plans to pay dividends in the foreseeable future; focus remains on business growth and technology investment.

  • Sufficient liquidity for at least 12 months, but may seek additional financing for expansion.

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Frequently asked questions

Solowin Holdings Ltd. is an investment holding company that provides a variety of financial services, focusing on securities brokerage, investment advisory, corporate consultancy, and asset management. The company operates through its advanced trading platform, SolomonVA+, which allows investors to trade a wide range of listed securities and derivatives across major stock exchanges, including the Hong Kong Stock Exchange, Nasdaq, and others. Solowin Holdings also offers services such as IPO underwriting, margin financing, professional asset management, and financial advisory. The company is headquartered in Hong Kong, and its shares are listed on the NASDAQ.

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