Camsing Healthcare (BAC) Q3 2025 TU earnings summary

Executive summary

• 9MFY2025 revenue was S$3.639m, down 13% YoY, while net loss narrowed to S$665k from S$1.603m, aided by higher other income and lower finance costs.

• Q3FY2025 revenue fell 26% YoY to S$1.014m; loss before tax narrowed to S$253k from S$598k.

• Going-concern material uncertainty remains, with S$90k cash and S$3.623m net liabilities at 31 Oct 2024.

Financial highlights

• 9MFY2025 gross profit was S$2.072m versus S$2.435m YoY; gross margin eased to 57% from 58%, mainly due to product mix.

• Other income rose to S$1.457m from S$81k, mainly from waived borrowing interest and a loan written off by the previous controlling shareholder.

• Marketing and distribution costs declined 1% to S$2.871m; administrative and other operating expenses increased 28% to S$1.033m, mainly on higher professional fees.

• 9MFY2025 loss before tax narrowed 58% to S$665k; finance costs fell to S$290k from S$423k.

• Operating cash flow was an outflow of S$1.222m versus an inflow of S$322k YoY; investing outflow was S$194k and financing inflow S$1.393m.

Outlook and guidance

• Management expects performance to improve cautiously following the new investment and resumption of share trading, supported by investment proceeds and continuing controlling-shareholder support.

• Priorities include new products, additional sales channels, online growth, B2B collaborations and prudent cost management.

• Continued operation of retail outlets depends partly on landlord forbearance for rental arrears; management also cites potential shareholder capital injections and cash advances as needed.