Revenue growth remains highly inconsistent, culminating in a 2025Q4 operating margin of -21.1% and a negative gross margin of -6.0%.
| Sales/Revenue | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | - | - | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | -281.53K | 122.13K | 1.27M | 605.13K | 1.21M | 6.91M | 3.7M | 98.76M | 17.77M | 9.54M | 3.04M |
| Gross Margin % | -1.91% | 5.06% | 9.63% | 10.09% | 68.97% | 100% | 100% | 92.08% | 77.53% | 80.17% | 65.44% |
| Gross Profit Growth % | -330.51% | -90.38% | 109.7% | -50% | -82.5% | 87.12% | -96.26% | 455.74% | 86.37% | 213.63% | - |
| Operating Expenses | 166.02M | 8.76M | 15.54M | 3.87M | 28.36M | 55.02M | 10.88M | 22.89M | 7.86M | 5.39M | 3.34M |
| OpEx % of Revenue | 1123.46% | 362.84% | 117.86% | 64.43% | 1616.02% | 795.72% | 294.55% | 21.34% | 34.28% | 45.36% | 71.87% |
| Selling, General & Admin | 3.64M | 8.76M | 15.54M | 3.06M | 2.09M | 22.3M | 10.88M | 22.89M | 7.86M | 5.39M | 3.34M |
| SG&A % of Revenue | 24.64% | 362.84% | 117.86% | 51.02% | 118.9% | 322.5% | 294.55% | 21.34% | 34.28% | 45.36% | 71.87% |
| Research & Development | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | -166.3M | -8.64M | -14.27M | -3.26M | -27.15M | -48.11M | -7.19M | 75.88M | 9.91M | 4.14M | -298.63K |
| Operating Margin % | -1125.37% | -357.78% | -108.23% | -54.34% | -1547.05% | -695.72% | -194.55% | 70.74% | 43.25% | 34.81% | -6.43% |
| Operating Income Growth % | -1825.26% | 39.45% | -337.57% | 87.99% | 43.56% | -569.14% | -109.47% | 665.37% | 139.44% | 1486.48% | - |
| EBITDA | -164.15M | 0 | -14.25M | -3.24M | -27.13M | -47.99M | -7.17M | 76.05M | 10.01M | 4.2M | -278.92K |
| EBITDA Margin % | -1110.82% | - | -108.09% | -54.03% | -1546.19% | -693.98% | -194.09% | 70.9% | 43.65% | 35.33% | -6% |
| EBITDA Growth % | - | 100% | -339.49% | 88.05% | 43.45% | -569.07% | -109.43% | 660.06% | 138.13% | 1606.42% | - |
| D&A (Non-Cash Add-back) | 2.15M | 8.64M | 18.39K | 18.39K | 15.16K | 120.52K | 17.23K | 174.38K | 92.22K | 61.39K | 19.7K |
| EBIT | -3.92M | -8.64M | -14.27M | -3.2M | -28.91M | -44.37M | -6.81M | 76.54M | 9.91M | 4.14M | -298.63K |
| Net Interest Income | 0 | 0 | 0 | -804.14K | -2.15M | -2.5M | 0 | 590.12K | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 590.12K | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 804.14K | 2.15M | 2.5M | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | -166.27M | -9.09M | -13.07M | -4.01M | -3.81M | -46.87M | -6.81M | 76.54M | 10.09M | 4.17M | -306.33K |
| Pretax Margin % | -1125.14% | -376.57% | -99.13% | -66.8% | -217.12% | -677.9% | -184.24% | 71.36% | 44.04% | 35.03% | -6.59% |
| Income Tax | -30.8M | 24.99K | 17.55K | 92.82K | 482.98K | 489.95K | 807.71K | 11.03M | 1.52M | 628.25K | 43.84K |
| Effective Tax Rate % | 18.52% | -0.27% | -0.13% | -2.32% | -12.68% | -1.05% | -11.86% | 14.41% | 15.08% | 15.08% | -14.31% |
| Net Income | -134.98M | -9.46M | -1.36M | -16.85M | -34.83M | -71.2M | 5.53M | 65.48M | 8.57M | 3.54M | -350.17K |
| Net Margin % | -913.38% | -391.78% | -10.32% | -280.83% | -1984.52% | -1029.7% | 149.72% | 61.05% | 37.39% | 29.75% | -7.54% |
| Net Income Growth % | -1327.01% | -595.54% | 91.93% | 51.62% | 51.08% | -1386.89% | -91.55% | 664.01% | 142.22% | 1110.48% | - |
| Net Income (Continuing) | -135.47M | -9.12M | -13.08M | -4.1M | -4.29M | -47.36M | -7.62M | 65.51M | 8.57M | 3.54M | -350.17K |
| Discontinued Operations | 0 | -399.8K | 11.84M | 0 | -30.53M | -23.83M | 13.15M | 0 | 0 | 0 | 0 |
| Minority Interest | 31.99K | 56.81K | 114.21K | 1.98K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.48 | -0.39 | -0.06 | -2.55 | -0.27 | -13.14 | 0.93 | 12.36 | 1.62 | 0.66 | -0.07 |
| EPS Growth % | -23.08% | -550% | 97.65% | -844.44% | 97.95% | -1512.9% | -92.48% | 662.96% | 145.45% | 1104.57% | - |
| EPS (Basic) | -0.48 | -0.45 | -0.06 | -2.55 | -0.26 | -13.14 | 0.93 | 12.36 | 1.62 | 0.66 | -0.07 |
| Diluted Shares Outstanding | 285.1M | 23.83M | 7.62M | 6.62M | 5.43M | 5.42M | 5.88M | 5.3M | 5.32M | 5.32M | 5.32M |
| Basic Shares Outstanding | 285.1M | 20.81M | 7.62M | 6.62M | 5.43M | 5.42M | 5.88M | 5.3M | 5.32M | 5.32M | 5.32M |
| Dividend Payout Ratio | - | - | - | - | - | - | 353.32% | - | - | - | - |
Unsustainable operational cash burn
According to the provided financial data, Akso Health Group has demonstrated erratic revenue growth, with quarterly figures fluctuating from $446.8K in early 2024 to $3.9M by late 2025, suggesting that the company's top-line expansion remains highly inconsistent and potentially dependent on non-recurring transactional volume.
The sharp jump in revenue during 2025 appears to indicate an aggressive push for market share, yet the lack of consistent sequential growth suggests the business model has not achieved product-market fit. Investors should monitor whether this revenue volatility is a byproduct of the recent rebranding or indicative of a fundamentally unstable customer acquisition strategy.
As reported in the company's income statements, gross margins have deteriorated into negative territory, reaching -6.0% by 2025Q4, which implies that the direct costs associated with product procurement and fulfillment currently exceed the revenue generated from these sales.
This negative margin profile suggests a lack of pricing power and a reliance on heavy subsidies to drive transaction volume. The inability to maintain positive gross margins indicates that the current e-commerce model may be structurally unviable without a significant pivot toward higher-margin service offerings.
Based on the reported figures, the company's operating margin plummeted to -21.1% in 2025Q4, reflecting a massive disconnect between revenue generation and the fixed cost base required to maintain the platform's administrative and IT infrastructure.
The widening gap between revenue and operating expenses suggests that the company is failing to achieve any meaningful economies of scale. The current cost structure appears to be heavily front-loaded, which may indicate that the firm is over-investing in infrastructure relative to its actual transactional throughput.
While the company maintains a reported $176M cash balance, the income statement data reveals a persistent pattern of net losses, with the 2025Q4 net loss reaching $67.2M, raising significant questions regarding the long-term sustainability of the current operational burn rate.
Short-sellers would likely focus on the discrepancy between the company's substantial cash reserves and its inability to generate positive operating cash flow. This suggests that the capital is being consumed by operational inefficiencies rather than being deployed toward a clear, value-accretive growth strategy.
Quick answers to the most common questions about buying AHG stock.
Akso Health Group (AHG) reported a net loss of $135.0M for the fiscal year ending 2025.
Akso Health Group (AHG) reported an operating income of $-166.3M, resulting in an operating profit margin of -1125.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Akso Health Group (AHG) generated $-0.3M in gross profit for the year, representing a gross profit margin of -1.9%. This demonstrates the company's core pricing power and production efficiency.