Jerash (US) (JRSH) Q4 2025 earnings summary

Executive summary

• Achieved record annual revenue of $146 million, up 24.4% year-over-year, driven by increased shipments to major U.S. customers and new strategic collaborations, including a major initial order via Hansoll Textile.

• Fiscal Q4 2025 revenue rose 35.6% to $29.3 million, despite $3–4 million in shipments deferred due to Haifa port delays.

• Gross profit for Q4 increased to $5.2 million, with gross margin improving to 17.9% from 7.0% year-over-year.

• Net loss for Q4 narrowed to $144,000 ($0.01/share) from $3.1 million, and full-year net loss reduced to $840,000 from $2.0 million.

• Production capacity expansion completed, with a 15% increase expected to contribute from Q2 fiscal 2026; factories fully booked through December 2025.

Financial highlights

• Full-year gross profit rose to $22.3 million from $16.9 million, with gross margin improving to 15.3% from 14.4%.

• Operating income for the year was $1.4 million, reversing a prior year operating loss of $665,000.

• Net working capital at $34.6 million as of March 31, 2025; cash and restricted cash totaled $15.1 million.

• Net cash from operating activities was $1.4 million for fiscal 2025, down from $2.5 million in fiscal 2024.

• Regular quarterly dividend of $0.05 per share paid in June 2025; total dividends for the year were $2.46 million.

Outlook and guidance

• Fiscal Q1 2026 revenue expected at $38–$40 million, subject to shipping port conditions.

• Gross margin for Q1 2026 projected at 15%-16%.

• Capacity expansion in Amman to increase production by 15% in Q2; Al-Hasa extension to add 5%-10% by early 2026.

• Longer-term expansion plans on hold due to geopolitical instability; $20–$30 million investment under consideration.

• Anticipates continued growth from expanded production and new customer collaborations.