Solowin Holdings (AXG) Income Statement
AXG FY2026 at a glance
Fiscal year ended March 31, 2026 · U.S. dollarsAXG revenue and net income
Where AXG's revenue goes
FY2026Each bar shows an amount and its share of revenue. AXG kept −47.0% of revenue as net income.
AXG profit margins
AXG growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +893.6% | +85.0% | +88.2% | — |
| Gross profit | +178.0% | +10.8% | +49.1% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AXG quarterly EPS vs estimates
Solowin beat the analyst EPS estimate in 0 of the last 2 quarters. Next report: October 30, 2026.
AXG income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | $3.6M | $361,728 | $548,405 | $568,075 | $418,268 | $152,333 |
| Cost of revenue | $2.8M | $86,229 | $9,585 | $5,485 | $180,872 | $48,498 |
| Gross profit | $766,008 | $275,499 | $538,819 | $562,589 | $237,395 | $103,834 |
| Research & development | — | $460,000 | $400,000 | $310,000 | $570,000 | $260,000 |
| Sales, general & admin | $9.1M | $7.3M | $1.7M | $1.4M | $1.1M | $1.2M |
| Total operating expenses | $2.4M | $1.3M | $1.1M | $398,277 | $359,047 | $153,623 |
| Operating income | −$1.7M | −$1.0M | −$566,170 | $164,312 | −$121,652 | −$49,789 |
| Interest income | — | — | $29,000 | $0 | $1,000 | — |
| Interest expense | $0 | $642 | $0 | $0 | $29,417 | $40,759 |
| Income before taxes | −$1.7M | −$1.1M | −$562,463 | $172,093 | −$125,763 | −$83,196 |
| Income taxes | — | $2,438 | $19,809 | — | — | — |
| Net income | −$1.7M | −$1.1M | −$582,273 | $172,093 | −$125,763 | −$83,196 |
| EBITDA | −$1.7M | −$1.1M | −$558,628 | $174,389 | −$93,905 | −$40,889 |
| EPS (diluted) | −$0.01 | −$0.53 | −$0.02 | $0.01 | $0.00 | $0.00 |
| Gross margin | 21.3% | 76.2% | 98.3% | 99.0% | 56.8% | 68.2% |
| Operating margin | −46.4% | −288.5% | −103.2% | 28.9% | −29.1% | −32.7% |
| Net margin | −47.0% | −302.9% | −106.2% | 30.3% | −30.1% | −54.6% |
| Jun '26 | Dec '25 | Mar '25 | Sep '24 | Jun '24 | Sep '23 | Mar '23 | Sep '22 | Mar '22 | Sep '21 | Mar '21 | Sep '20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8M | $747,733 | $226,813 | $135,107 | $211,197 | $337,096 | $419,791 | $148,586 | $119,015 | $299,550 | $119,015 | $299,550 |
| Cost of revenue | $2.2M | $727,253 | $53,102 | $33,168 | $6,012 | $3,575 | $2,426 | $3,058 | $9,233 | $171,907 | $7,951 | $170,749 |
| Gross profit | $647,311 | $20,480 | $173,710 | $101,938 | $205,184 | $333,520 | $417,364 | $145,527 | $109,781 | $127,642 | $111,064 | $128,801 |
| Research & development | — | — | $460,000 | — | $400,000 | — | $310,000 | $155,000 | $570,000 | — | $130,000 | $130,000 |
| Sales, general & admin | — | $3.1M | $5.6M | $1.7M | $1.1M | $1.3M | $1.8M | $1.3M | $1.8M | $1.1M | $607,500 | $607,500 |
| Total operating expenses | $1.7M | $615,389 | $696,382 | $871,220 | $943,161 | $162,929 | $220,687 | $177,640 | $212,637 | $146,300 | $213,920 | $147,459 |
| Operating income | −$1.1M | −$594,909 | −$522,672 | −$769,281 | −$737,976 | $170,591 | $196,677 | −$32,113 | −$102,855 | −$18,657 | −$102,855 | −$18,657 |
| Interest expense | — | — | $643 | — | — | — | — | — | $128 | $29,337 | $158,000 | $158,000 |
| Income before taxes | −$1.1M | −$593,117 | −$291,102 | −$801,041 | −$733,883 | $170,591 | $197,826 | −$25,486 | −$79,386 | −$46,322 | −$79,386 | −$46,322 |
| Income taxes | — | — | $2,442 | — | $8,570 | $11,236 | $0 | $0 | $184,000 | $13,000 | — | — |
| Net income | −$1.1M | −$592,861 | −$293,545 | −$801,041 | −$742,454 | $159,354 | $197,826 | −$25,486 | −$79,386 | −$46,322 | −$79,386 | −$46,322 |
| EBITDA | −$1.1M | −$536,545 | −$284,287 | −$794,509 | −$731,580 | $172,123 | $198,975 | −$24,339 | −$77,975 | −$15,826 | −$101,573 | −$17,499 |
| EPS (diluted) | — | −$0.07 | −$0.14 | −$0.39 | — | — | — | — | — | — | — | — |
| Gross margin | 22.7% | 2.7% | 76.6% | 75.4% | 97.2% | 98.9% | 99.4% | 97.9% | 92.2% | 42.6% | 93.3% | 43.0% |
| Operating margin | −37.6% | −79.6% | −230.4% | −569.4% | −349.4% | 50.6% | 46.9% | −21.6% | −86.4% | −6.2% | −86.4% | −6.2% |
| Net margin | −38.5% | −79.3% | −129.4% | −592.9% | −351.5% | 47.3% | 47.1% | −17.2% | −66.7% | −15.5% | −66.7% | −15.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AXG's financial statements (latest annual report filed August 3, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AXG financial results
In fiscal year 2026 (ended March 31, 2026), Solowin reported revenue of $3.6 million, up 893.6% from the year before. It had a net loss of $1.7 million, a net profit margin of −47.0%. Diluted earnings per share came to −$0.01. Over five years revenue grew at an average rate of 88.2% a year.
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AXG income statement FAQ
What is Solowin's annual revenue?
Solowin reported total revenue of $3.6 million for fiscal year 2026, which ended on March 31, 2026. That was up 893.6% from $0.4 million the previous year.
Is Solowin profitable?
No. Solowin reported a net loss of $1.7 million in fiscal 2026, a net profit margin of −47.0%; its operating margin was −46.4%.
What is Solowin's gross margin?
Solowin's gross margin was 21.3% in fiscal 2026: for every $100 of revenue, Solowin kept $21 after the direct cost of its products and services.
How fast is Solowin growing?
Revenue grew 88.2% a year on average over the last five fiscal years, from $0.2 million to $3.6 million.
What are Solowin's earnings per share?
Solowin earned $-0.01 per diluted share in fiscal 2026, compared with $-0.53 a year earlier.
When will Solowin report its next earnings?
Solowin is expected to report results for the quarter ending September 30, 2026 on October 30, 2026.
When does Solowin's fiscal year end?
Solowin's fiscal year ends in March. The latest annual report covers the year ended March 31, 2026 and was filed on August 3, 2026.