Revenue has experienced a severe downward trajectory, with the most recent quarterly figures showing a 65% year-over-year decline and thin gross margins of 11.6%.
| Sales/Revenue | 48.53M | 32.05M | 92.91M | 203.11M | 36.71M | 53.3K | 709.63K | 5.11M | 12.54M | 6.88M | 0 |
| Revenue Growth % | -19.32% | -65.51% | -54.26% | 453.27% | 68767.71% | -92.49% | -86.12% | -59.23% | 82.21% | - | - |
| Cost of Goods Sold | 41.03M | 25.19M | 88.75M | 195.81M | 30.11M | 38.53K | 242.94K | 1.65M | 3.54M | 2.3M | 0 |
| COGS % of Revenue | - | 78.6% | 95.53% | 96.41% | 82.03% | 72.29% | 34.24% | 32.33% | 28.22% | 33.42% | - |
| Gross Profit | 7.5M | 6.86M | 4.16M | 42.27M | 6.6M | 14.77K | 466.69K | 3.46M | 9M | 4.58M | 0 |
| Gross Margin % | 15.45% | 21.39% | 4.47% | 20.81% | 17.97% | 27.71% | 65.76% | 67.67% | 71.78% | 66.58% | - |
| Gross Profit Growth % | - | 64.99% | -90.17% | 540.63% | 44565.68% | -96.83% | -86.51% | -61.57% | 96.44% | - | - |
| Operating Expenses | -12.06M | 909.04K | 13.4M | 29.62M | 1.66M | 1.03M | 1.69M | 4.91M | 3.93M | 2.13M | 150.45K |
| OpEx % of Revenue | - | 2.84% | 14.42% | 14.58% | 4.53% | 1928.37% | 238.56% | 95.94% | 31.31% | 30.97% | - |
| Selling, General & Admin | 17.42M | 909.04K | 13.4M | 30.4M | 1.63M | 964.47K | 1.57M | 3.88M | 3.53M | 1.84M | 58.97K |
| SG&A % of Revenue | - | 2.84% | 14.42% | 14.97% | 4.43% | 1809.34% | 220.64% | 75.83% | 28.14% | 26.76% | - |
| Research & Development | 0 | 0 | 0 | 0 | 36.32K | 63.45K | 127.12K | 1.03M | 398.19K | 289.49K | 166.7K |
| R&D % of Revenue | - | - | - | - | 0.1% | 119.03% | 17.91% | 20.11% | 3.17% | 4.21% | - |
| Other Operating Expenses | -2M | 0 | 0 | -773.32K | 0 | 0 | 0 | 22.34K | 0 | -1.75K | -150.45K |
| Operating Income | 19.56M | 5.95M | -9.24M | 12.64M | 4.93M | -1.01M | -1.23M | -2.37M | 5.07M | 2.45M | -150.45K |
| Operating Margin % | 40.31% | 18.56% | -9.95% | 6.23% | 13.44% | -1900.66% | -172.79% | -46.33% | 40.46% | 35.61% | - |
| Operating Income Growth % | - | 164.35% | -173.09% | 156.28% | 586.98% | 17.37% | 48.24% | -146.68% | 107.06% | 1728.92% | - |
| EBITDA | 19.56M | 5.97M | -8.77M | 12.98M | 5.04M | -979.71K | -1.18M | -1.99M | 5.32M | 2.48M | 75.22K |
| EBITDA Margin % | 40.31% | 18.62% | -9.44% | 6.39% | 13.72% | -1837.94% | -165.71% | -38.85% | 42.43% | 35.98% | - |
| EBITDA Growth % | 143.85% | 168.05% | -167.52% | 157.86% | 613.99% | 16.69% | 40.79% | -137.33% | 114.84% | 3192.51% | - |
| D&A (Non-Cash Add-back) | 1.71K | 19.3K | 473.72K | 340.65K | 101.71K | 33.44K | 50.27K | 382.68K | 246.53K | 25.98K | 225.67K |
| EBIT | 19.56M | 5.95M | -9.24M | 16.19M | 4.95M | -1.01M | -1.21M | -1.45M | 5.75M | 2.45M | -150.62K |
| Net Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -364.63K | -209K | 18.47M | 455.72K | 23.98K | -7.66K | -211.42K | -12.84K | -513.62K | -1.75K | 75.05K |
| Pretax Income | 19.2M | 5.74M | 9.23M | 13.1M | 4.96M | -1.02M | -1.44M | -2.38M | 5.2M | 2.45M | -150.62K |
| Pretax Margin % | 39.56% | 17.91% | 9.94% | 6.45% | 13.51% | -1915.02% | -202.9% | -46.59% | 41.47% | 35.58% | - |
| Income Tax | 11.36M | 2.33M | -2.18M | 4.34M | 1.41M | 76.34K | 123K | -595.42K | 1.3M | 783.38K | -225.67K |
| Effective Tax Rate % | 59.16% | 40.62% | -23.66% | 33.17% | 28.36% | -7.48% | -8.54% | 25% | 25.01% | 31.99% | 149.83% |
| Net Income | 15.24M | 3.12M | -7.44M | 11.48M | 3.55M | -1.1M | -1.56M | -8.41M | 3.9M | 2.35M | -150.62K |
| Net Margin % | 31.41% | 9.73% | -8.01% | 5.65% | 9.68% | -2058.24% | -220.24% | -164.55% | 31.1% | 34.14% | - |
| Net Income Growth % | 139.62% | 141.93% | -164.83% | 223.1% | 423.72% | 29.8% | 81.42% | -315.72% | 65.94% | 1660.32% | - |
| Net Income (Continuing) | 19.1M | 3.41M | 11.42M | 8.76M | 3.55M | -1.1M | -1.52M | -1.79M | 4.42M | 2.35M | -150.62K |
| Discontinued Operations | 0 | -289K | -18.86M | 2.72M | 0 | 25.5K | -76.94K | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 11.12 | 6.43 | -15.34 | 23.66 | 8.26 | -2.52 | -3.67 | -20.00 | 9.00 | 5.50 | -0.23 |
| EPS Growth % | 146.06% | 141.92% | -164.84% | 186.44% | 427.78% | 31.34% | 81.65% | -322.22% | 63.64% | 2544.44% | - |
| EPS (Basic) | - | 6.43 | -15.34 | 23.66 | 8.26 | -2.52 | -3.67 | -20.00 | 9.00 | 5.50 | -0.23 |
| Diluted Shares Outstanding | 1.37M | 485.1K | 485.1K | 485.1K | 430.22K | 435.76K | 425.98K | 419.02K | 428.2K | 428.2K | 666.2K |
| Basic Shares Outstanding | 755.78K | 485.1K | 485.1K | 485.1K | 429.82K | 435.76K | 425.98K | 419.02K | 428.2K | 428.2K | 666.2K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - |
Extreme revenue volatility
As evidenced by the reported financial data, AGMH has experienced a severe contraction in top-line performance, with quarterly revenue figures fluctuating wildly and ultimately trending downward from peak levels of $36.6 million in 2023Q2 to approximately $10.2 million in the most recent reported period.
The erratic revenue trajectory suggests that the company's reliance on transactional hardware sales leaves it highly exposed to cyclical crypto-asset demand. The lack of consistent growth indicates that the firm has failed to establish a durable, recurring revenue base, rendering its top-line performance highly unpredictable for investors.
Based on the provided income statement figures, gross margins have remained consistently thin, often dipping into the low single digits, which suggests that AGMH operates more as a low-margin hardware distributor rather than a high-value software provider with significant pricing power over its supply chain partners.
The inability to maintain stable gross margins implies that the company lacks the competitive moat necessary to pass through input cost fluctuations to its customers. Investors should monitor whether the firm can pivot toward higher-margin software services, as the current hardware-heavy model appears structurally incapable of sustaining profitability.
According to historical income statements, the company's operating leverage is non-existent, as operating income swings between significant losses and sporadic, non-recurring gains, indicating that SG&A expenses are not effectively scaling with the underlying revenue volatility observed in the hardware and fintech segments of the business.
The disconnect between revenue and operating income suggests that management struggles to align its cost structure with the cyclical nature of its primary revenue drivers. This lack of operational discipline may indicate that the firm is forced to maintain fixed overheads that it cannot support during periods of revenue contraction.
As reported in recent filings, the company's reliance on a single hardware partnership and the absence of R&D spending raise significant concerns regarding the long-term viability of its current business model, particularly given the recent 65% year-over-year revenue decline and the depletion of cash reserves.
Short-sellers would likely focus on the lack of investment in innovation and the potential for inventory obsolescence in the mining hardware segment. The absence of R&D expenditure suggests that the company may be harvesting existing relationships rather than building a sustainable technological advantage, which warrants further investigation by stakeholders.
Quick answers to the most common questions about buying AGMH stock.
For fiscal year 2024, AGM Group Holdings Inc. (AGMH) reported total revenue of $32.0M.
AGM Group Holdings Inc. (AGMH) is profitable, generating $3.1M in net income for the fiscal year ending 2024 with a net profit margin of 9.7%.
AGM Group Holdings Inc. (AGMH) reported an operating income of $5.9M, resulting in an operating profit margin of 18.6%. This margin reflects the operational efficiency of the business before interest and taxes.
AGM Group Holdings Inc. (AGMH) generated $6.9M in gross profit for the year, representing a gross profit margin of 21.4%. This demonstrates the company's core pricing power and production efficiency.