Solowin (AXG) H2 2026 earnings summary

Executive summary

• Fiscal 2026 marked a transformative year, shifting from a Hong Kong-centric brokerage to a global fintech platform focused on Digital Asset Tokens and AI Tokens, following the acquisition of AlloyX Group.

• Revenue surged nearly tenfold year-over-year to $28.05 million, driven by AI infrastructure services and new digital asset business lines.

• Net loss increased 56% to $13.29 million, reflecting heavy investment in technology, compliance, and business scaling.

• The company operates under a dual-pillar strategy: Digital Asset Tokens (stablecoin issuance, RWA tokenization, payments) and AI Tokens (AI infrastructure, agent governance, enterprise cloud services).

Financial highlights

• Revenue for FY2026: $28.05 million (up from $2.82 million in FY2025).

• Net loss for FY2026: $13.29 million (vs. $8.54 million in FY2025).

• Basic and diluted loss per share improved to $0.11 (from $0.53 in FY2025).

• Cash and cash equivalents at March 31, 2026: $16.8 million (up from $3.84 million in FY2025).

• Total assets: $50.7 million; total liabilities: $25.6 million; total equity: $25.1 million as of March 31, 2026.

• AI infrastructure service fees contributed $22.2 million (79% of total revenue); Digital Asset Tokens contributed $5.6 million.

• Major expense drivers: $21.3 million in AI cloud service costs and $8.96 million in employee benefits.

Outlook and guidance

• Growth strategy centers on scaling enterprise AI infrastructure, commercializing regulated stablecoins, and expanding RWA tokenization.

• Plans to broaden regulatory footprint in Europe, Singapore, and North America, prioritizing licenses that unlock specific products and corridors.

• Focus on converting pilot partnerships into recurring revenue and expanding institutional client base.