Millennium Group International (MGIH) H2 2025 earnings summary

Executive summary

• FY2026 revenue fell 19.7% YoY to $20.34M; gross profit declined to $1.64M and gross margin to 8.1%; net loss widened to $7.09M from $6.32M.

• Operations span paper-based packaging products, corrugated products and packaging supply-chain services; Vietnam manufacturing began in July 2025.

Financial highlights

• Revenue was $20.34M, down $4.99M YoY; cost of revenue fell 9.4% to $18.70M, slower than the 19.7% revenue decline.

• Gross profit was $1.64M, down 65.0% YoY; gross margin contracted to 8.1% from 18.5%.

• Operating loss was $7.39M versus $6.01M; net loss was $7.09M versus $6.32M, and basic/diluted loss per share was $0.63 versus $0.56.

• Selling and marketing expense declined 37.6% to $2.08M; G&A expense decreased 5.7% to $6.95M.

• Cash and cash equivalents were $5.61M at June 30, 2026, versus $10.69M; operating cash use was $4.49M and investing cash use was $1.09M.

Outlook and guidance

• Management expects current working capital to support operations for the next 12 months; future investment, acquisition or capex needs could prompt additional debt or equity financing.

• Expansion of packaging supply-chain services for global customers sourcing in Southeast Asia remains a stated business focus.

• Vietnam manufacturing started in July 2025; ramp-up, customer demand and startup costs could affect margins and returns on the investment.