Revenue remains highly volatile with a contraction trend, as evidenced by the collapse of gross margins to -5.5% in 2025Q3 and a -99.3% operating margin in 2026Q1.
| Sales/Revenue | 3.11M | 2.96M | 3.3M | 3.55M | 3.01M | 2.41M |
| Revenue Growth % | 1.05% | -10.13% | -7.21% | 18.15% | 24.86% | - |
| Cost of Goods Sold | 6.25M | 5.2M | 2.33M | 1.49M | 1.8M | 1.57M |
| COGS % of Revenue | - | 175.3% | 70.75% | 41.97% | 59.71% | 65.15% |
| Gross Profit | -3.14M | -2.23M | 964.77K | 2.06M | 1.21M | 839.63K |
| Gross Margin % | -101.11% | -75.3% | 29.25% | 58.03% | 40.29% | 34.85% |
| Gross Profit Growth % | - | -331.38% | -53.23% | 70.2% | 44.36% | - |
| Operating Expenses | 3.08M | 2.17M | 1.15M | 1.81M | 743.83K | 639.73K |
| OpEx % of Revenue | - | 73.34% | 34.77% | 50.91% | 24.72% | 26.55% |
| Selling, General & Admin | 495.27K | 733.4K | 945.69K | 1.64M | 580.46K | 481.44K |
| SG&A % of Revenue | - | 24.74% | 28.67% | 46.01% | 19.29% | 19.98% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 1.99M | 1.44M | 201.11K | 174.21K | 163.37K | 158.29K |
| Operating Income | -6.22M | -4.41M | -182.03K | 253.16K | 468.25K | 199.9K |
| Operating Margin % | -200.24% | -148.64% | -5.52% | 7.12% | 15.56% | 8.3% |
| Operating Income Growth % | - | -2320.56% | -171.9% | -45.93% | 134.24% | - |
| EBITDA | -6.05M | -4.19M | 19.08K | 427.37K | 631.62K | 358.19K |
| EBITDA Margin % | -194.77% | -141.2% | 0.58% | 12.02% | 20.99% | 14.87% |
| EBITDA Growth % | -5541.47% | -22036.48% | -95.54% | -32.34% | 76.34% | - |
| D&A (Non-Cash Add-back) | 169.72K | 220.5K | 201.11K | 174.21K | 163.37K | 158.29K |
| EBIT | -5.64M | -3.76M | -182.03K | 281.26K | 468.25K | 199.9K |
| Net Interest Income | -8.98K | -4.49K | -25.55K | -30.39K | -36.2K | -19.5K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 8.98K | 4.49K | 25.55K | 30.39K | 36.2K | 19.5K |
| Other Income/Expense | 870.38K | 637.76K | 19.27K | -2.29K | -27.3K | 131.9K |
| Pretax Income | -5.35M | -3.77M | -162.76K | 250.86K | 440.95K | 331.8K |
| Pretax Margin % | -172.21% | -127.12% | -4.93% | 7.06% | 14.66% | 13.77% |
| Income Tax | -144.71K | -91.41K | 20.94K | -135.26K | 117.76K | 53.3K |
| Effective Tax Rate % | 2.71% | 2.43% | -12.86% | -53.92% | 26.71% | 16.07% |
| Net Income | -5.2M | -3.68M | -183.7K | 386.13K | 323.19K | 278.49K |
| Net Margin % | -167.55% | -124.04% | -5.57% | 10.86% | 10.74% | 11.56% |
| Net Income Growth % | -2007.63% | -1901.65% | -147.57% | 19.47% | 16.05% | - |
| Net Income (Continuing) | -5.2M | -3.68M | -183.7K | 386.13K | 323.19K | 278.49K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.38 | -0.27 | -0.02 | 0.04 | 0.03 | 0.03 |
| EPS Growth % | -1317.05% | -1497.63% | -147.61% | 19.53% | 16.02% | - |
| EPS (Basic) | - | -0.27 | -0.01 | 0.04 | 0.03 | 0.03 |
| Diluted Shares Outstanding | 13.86M | 13.86M | 10.88M | 13.88M | 10.88M | 10.88M |
| Basic Shares Outstanding | 13.86M | 13.86M | 13.88M | 10.88M | 10.88M | 10.88M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Operational viability and scale
As indicated by the quarterly financial data, AGH has experienced significant top-line instability, with revenue fluctuating between $336.9K and $1.5M over the last ten quarters, ultimately reflecting a broader trend of contraction that challenges the sustainability of its current aquatic golf range business model.
The erratic revenue performance suggests that the company lacks a reliable, recurring customer base, leaving it highly susceptible to seasonal demand shifts. Investors should monitor whether the recent decline in quarterly revenue represents a permanent loss of market share or merely the inherent volatility of a niche, weather-dependent leisure offering.
Based on the reported income statements, AGH's gross margins have collapsed into negative territory, reaching as low as -5.5% in 2025Q3, which highlights a fundamental inability to cover the direct costs of maintaining its specialized aquatic facilities and associated leisure infrastructure.
The extreme variability in gross margins, swinging from a high of 77.6% to deep negative figures, suggests that the company is struggling with high fixed-cost absorption. This pattern implies that the current operational scale is insufficient to support the maintenance requirements of the business, warranting further investigation into whether these costs are truly variable or if they represent deferred capital expenditures.
According to the provided financial filings, AGH exhibits a lack of positive operating leverage, as the company's operating income has consistently failed to scale with revenue, frequently resulting in deep losses that underscore the inefficiency of its current corporate overhead and property-level management structure.
The company's inability to achieve positive operating margins, even during periods of higher revenue, suggests that the cost structure is fundamentally misaligned with its current volume. Analysts should be concerned that the overhead burden is compounding the losses generated at the facility level, leaving little room for operational improvement without a significant strategic pivot.
While the company maintains a substantial cash position of $28.6 million, the income statement data reveals a persistent pattern of cash burn, suggesting that the current valuation may be overly reliant on balance sheet liquidity rather than the underlying viability of the leisure operations.
Short-term observers might focus on the cash-rich balance sheet as a safety net, but the income statement paints a picture of a business that is structurally incapable of generating profit. Investors should consider whether the capital is being preserved for a strategic transformation or if it is simply being slowly eroded by the ongoing operational deficits.
Quick answers to the most common questions about buying AGH stock.
For fiscal year 2025, Aureus Greenway Holdings Inc. (AGH) reported total revenue of $3.0M. This represents a 23.0% increase compared to $2.4M in 2021.
Aureus Greenway Holdings Inc. (AGH) reported a net loss of $3.7M for the fiscal year ending 2025.
Aureus Greenway Holdings Inc. (AGH) reported an operating income of $-4.4M, resulting in an operating profit margin of -148.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Aureus Greenway Holdings Inc. (AGH) generated $-2.2M in gross profit for the year, representing a gross profit margin of -75.3%. This demonstrates the company's core pricing power and production efficiency.