Revenue has experienced a sustained decline to $975.8K in 2025Q3, while operating margins remain deeply negative at -7.0%, reflecting a lack of pricing power and structural cost inefficiencies.
Addentax Group Corp. (ATXG) annual income statement — 12-year revenue, gross profit & net income history
| Metric | TTM | Mar'26 | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 |
|---|
| Sales/Revenue | 7.98M | 5.37M | 4.18M | 5.15M | 7.94M | 12.69M | 24.73M | 10.17M | 10.03M | 13.44M | 5.34M | 5.7K | 1.08K |
| Revenue Growth % | 85.17% | 28.47% | -18.88% | -35.13% | -37.4% | -48.69% | 143.16% | 1.45% | -25.38% | 151.85% | 93505.28% | 427.78% | - |
| Cost of Goods Sold | 7M | 4.61M | 3.55M | 4.04M | 6.1M | 10.63M | 25.92M | 8.79M | 8.74M | 12M | 5.08M | 713 | 0 |
| COGS % of Revenue | - | 85.89% | 84.83% | 78.36% | 76.83% | 83.74% | 104.8% | 86.38% | 87.21% | 89.27% | 95.2% | 12.51% | - |
| Gross Profit | 981.82K | 757.61K | 634.26K | 1.12M | 1.84M | 2.06M | -1.19M | 1.39M | 1.28M | 1.44M | 256.02K | 4.99K | 1.08K |
| Gross Margin % | 12.3% | 14.11% | 15.17% | 21.64% | 23.18% | 16.26% | -4.8% | 13.62% | 12.79% | 10.73% | 4.8% | 87.49% | 100% |
| Gross Profit Growth % | - | 19.45% | -43.12% | -39.43% | -10.77% | 273.8% | -185.69% | 8% | -11.02% | 463.09% | 5033.71% | 361.76% | - |
| Operating Expenses | 2.83M | 2.29M | 2.45M | 2.25M | 2.3M | 2.12M | 2.42M | 2.25M | 1.97M | 1.7M | 27.12K | 14.73K | 890 |
| OpEx % of Revenue | - | 42.56% | 58.63% | 43.59% | 29% | 16.71% | 9.79% | 22.12% | 19.61% | 12.63% | 0.51% | 258.4% | 82.41% |
| Selling, General & Admin | 2.8M | 2.24M | 2.45M | 2.25M | 2.3M | 2.12M | 2.42M | 2.25M | 1.97M | 1.7M | 27.12K | 14.73K | 890 |
| SG&A % of Revenue | - | 41.67% | 58.63% | 43.59% | 29% | 16.71% | 9.79% | 22.12% | 19.61% | 12.63% | 0.51% | 258.4% | 82.41% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 26.43K | 47.8K | 0 | 0 | 0 | -1 | 0 | 0 | 8.78K | 0 | 27.12K | 0 | 0 |
| Operating Income | -1.85M | -1.53M | -1.82M | -1.13M | -462.92K | -57.01K | -3.61M | -864.32K | -683.13K | -255.95K | -27.12K | -9.74K | 190 |
| Operating Margin % | -23.17% | -28.47% | -43.46% | -21.95% | -5.83% | -0.45% | -14.59% | -8.5% | -6.81% | -1.9% | -0.51% | -170.91% | 17.59% |
| Operating Income Growth % | - | 15.84% | -60.62% | -144.36% | -712.06% | 98.42% | -317.46% | -26.52% | -166.89% | -843.68% | -178.41% | -5227.37% | - |
| EBITDA | -1.66M | -971.36K | -145.81K | -802.25K | -118.02K | 100.6K | -3.51M | -749.93K | -567.45K | -144.21K | 7.78K | -8.67K | 460 |
| EBITDA Margin % | -20.85% | -18.08% | -3.49% | -15.57% | -1.49% | 0.79% | -14.18% | -7.37% | -5.66% | -1.07% | 0.15% | -152.18% | 42.59% |
| EBITDA Growth % | -55.89% | -566.17% | 81.82% | -579.76% | -217.32% | 102.87% | -367.67% | -32.16% | -293.48% | -1953.17% | 189.72% | -1985.65% | - |
| D&A (Non-Cash Add-back) | 184.63K | 557.86K | 1.67M | 328.95K | 344.9K | 157.6K | 101.01K | 114.39K | 115.67K | 111.74K | 34.91K | 1.07K | 270 |
| EBIT | -2.37M | -1.53M | -3.94M | 554.99K | 2.85M | 111.38K | -3.55M | -943.75K | -674.35K | -690.05K | -374.22K | -9.74K | 190 |
| Net Interest Income | 455.96K | -118.45K | -1.15M | -3.65M | -1.5M | -2.07K | -18.91K | -20.67K | -11.42K | 0 | 0 | 0 | 0 |
| Interest Income | 496.37K | 1.16K | 1.32K | 6.88K | 8.46K | 7.82K | 230 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 40.41K | -614.8K | 1.15M | 3.65M | 1.51M | 9.89K | 19.14K | 20.67K | 11.42K | 0 | 0 | 0 | 0 |
| Other Income/Expense | -563.78K | -3.4M | -3.27M | -1.97M | 1.8M | 158.5K | 43.87K | -100.23K | -2.65K | -434.1K | 16K | 56 | 0 |
| Pretax Income | -2.41M | -4.93M | -5.09M | -3.1M | 1.34M | 101.49K | -3.56M | -964.55K | -685.77K | -690.05K | -27.12K | -9.74K | 190 |
| Pretax Margin % | -30.23% | -91.84% | -121.73% | -60.11% | 16.89% | 0.8% | -14.41% | -9.48% | -6.84% | -5.14% | -0.51% | -170.91% | 17.59% |
| Income Tax | 3.2K | -4.11K | 4.65K | 11.61K | 22.14K | 23.49K | 25.87K | 16.07K | 8.55K | 19.34K | 25.49K | -28 | 30 |
| Effective Tax Rate % | -0.13% | 0.08% | -0.09% | -0.37% | 1.65% | 23.15% | -0.73% | -1.67% | -1.25% | -2.8% | -93.99% | 0.29% | 15.79% |
| Net Income | -2.42M | -4.47M | -5.09M | -3.11M | 1.32M | 78K | -3.59M | -980.62K | -694.33K | -709.4K | -52.62K | -9.71K | 160 |
| Net Margin % | -30.27% | -83.21% | -121.84% | -60.33% | 16.61% | 0.61% | -14.51% | -9.64% | -6.92% | -5.28% | -0.99% | -170.42% | 14.81% |
| Net Income Growth % | 43.35% | 12.27% | -63.83% | -335.62% | 1591.91% | 102.17% | -266.11% | -41.23% | 2.12% | -1248.23% | -441.66% | -6171.25% | - |
| Net Income (Continuing) | -2.42M | -4.94M | -5.09M | -3.11M | 1.32M | 78K | -3.59M | -980.62K | -694.33K | -709.4K | -371.8K | -9.71K | 160 |
| Discontinued Operations | 729.02K | 467.86K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -124.6K | -118.53K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.96 | -6.27 | -12.75 | -10.65 | 6.00 | 0.44 | -20.85 | -8.55 | -4.05 | -4.20 | -0.32 | -4.20 | 0.02 |
| EPS Growth % | 51.99% | 50.82% | -19.72% | -277.5% | 1269.86% | 102.1% | -143.86% | -111.11% | 3.57% | -1233.33% | 92.5% | -25554.55% | - |
| EPS (Basic) | - | -6.27 | -12.75 | -10.65 | 6.00 | 0.44 | -20.85 | -8.55 | -4.05 | -4.20 | -0.32 | -4.20 | 0.02 |
| Diluted Shares Outstanding | 816.7K | 713.14K | 399.54K | 291.96K | 237.87K | 177.95K | 172.12K | 168.97K | 168.97K | 168.97K | 166.67K | 2.31K | 10K |
| Basic Shares Outstanding | 816.7K | 713.14K | 399.54K | 292.48K | 202.27K | 177.95K | 172.12K | 168.97K | 168.97K | 168.97K | 166.67K | 2.31K | 10K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying ATXG stock.
For fiscal year 2025, Addentax Group Corp. (ATXG) reported total revenue of $5.4M. This represents a 497231.8% increase compared to $0.0M in 2014.
Addentax Group Corp. (ATXG) reported a net loss of $4.5M for the fiscal year ending 2025.
Addentax Group Corp. (ATXG) reported an operating income of $-1.5M, resulting in an operating profit margin of -28.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Addentax Group Corp. (ATXG) generated $0.8M in gross profit for the year, representing a gross profit margin of 14.1%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Liquidity insolvency and dilution
Metrics are mathematically derived from official filings.
Persistent Revenue Contraction Trends
According to reported financial statements, Addentax Group has experienced a sustained period of top-line decay, with revenue falling to $975.8K in 2025Q3, representing a 7.9% year-over-year decline that underscores the structural challenges facing its integrated garment and logistics business model in the current economic environment.
The consistent inability to achieve year-over-year growth suggests that the company's localized Shenzhen-based ecosystem is struggling to maintain relevance against broader market shifts. Investors should monitor whether this contraction reflects a permanent loss of market share or merely cyclical volatility within the regional textile trade.
Volatile Margins Reflect Pricing Weakness
Based on the provided income statement data, gross margins have fluctuated significantly, ranging from a low of 0.6% in 2025Q1 to 30.2% in 2025Q3, indicating that the firm lacks the pricing power necessary to absorb input cost volatility within its garment manufacturing and logistics segments.
The extreme variability in gross profitability suggests that the company is highly susceptible to raw material price swings and competitive pricing pressures. This lack of margin stability makes it difficult to forecast future profitability and implies that the firm remains a price-taker in its primary operating markets.
Operating Leverage Remains Deeply Negative
As reported in recent filings, the company's operating margin of -43.46% highlights a severe lack of operating leverage, where fixed costs associated with property management and overhead continue to outpace the gross profit generated by its core logistics and manufacturing activities during the most recent periods.
The persistent gap between gross profit and operating income suggests that the current revenue scale is insufficient to cover the company's fixed cost base. Without a significant increase in throughput, the firm appears trapped in a cycle of operational losses that necessitates constant external capital support.
Earnings Quality Obscured by Volatility
Analysis of the income statement reveals that net income is frequently distorted by non-operating items, as evidenced by the swing from a $1.4M profit in 2023Q2 to a $4.2M loss in 2025Q3, suggesting that reported EPS figures are unreliable indicators of core operational health.
The presence of significant non-operating fluctuations warrants further investigation into the nature of these gains and losses, which may include asset impairments or one-time adjustments. Investors should focus on normalized operating performance rather than headline net income, which appears to be highly erratic and disconnected from underlying business fundamentals.
Liquidity Constraints Threaten Operational Continuity
Based on the company's reported cash balance of approximately $325,000, the firm faces a precarious liquidity position that may force dilutive equity financing, as the current burn rate significantly exceeds the available cash reserves required to sustain ongoing operations in the near term.
Short-sellers would likely focus on the disconnect between the company's asset-heavy business model and its dwindling cash position, which suggests that the firm may be nearing a point of financial insolvency. The reliance on external funding to cover operating losses poses a material risk to existing shareholders.