SMJ International (SMJF) Q4 2026 earnings summary

Executive summary

• Revenue for FY2026 was S$17.4 million, up 3.6% year-over-year, driven by overseas demand, especially in India and the Philippines. Net loss for FY2026 was S$0.9 million, compared to net income of S$1.0 million in FY2025, mainly due to higher general and administrative expenses related to the NYSE listing and increased provision for slow-moving stock.

• Gross margin declined to 34.6% in FY2026 from 36.1% in FY2025, reflecting a higher proportion of export sales with lower margins and increased freight costs.

• The company completed its IPO on the NYSE American in December 2025, raising gross proceeds of US$10.8 million.

Financial highlights

• Revenue: S$17.4 million in FY2026 (+3.6% YoY); S$16.8 million in FY2025 (+1.5% YoY).

• Net loss: S$0.9 million in FY2026 (vs. net income S$1.0 million in FY2025).

• Gross profit: S$6.0 million in FY2026 (down 0.9% YoY); gross margin 34.6% (down from 36.1%).

• General and administrative expenses rose 58.1% to S$5.7 million in FY2026, mainly due to IPO-related costs.

• Cash and cash equivalents: S$1.3 million as of March 31, 2026; short-term investments S$10.4 million.

• Net current assets: S$15.6 million as of March 31, 2026.

Outlook and guidance

• The company plans to expand its inventory stocking program and strengthen its geographical coverage, targeting growth in Asia-Pacific markets.

• Focus on broadening product offerings, especially eco-friendly and sustainable flooring solutions.

• Management expects continued pressure on gross margins as export sales increase.