Revenue scaled to $2.5M in 2026Q1, yet the company continues to struggle with profitability, evidenced by a net margin of -18.5% and high SG&A expenses of $2.5M.
Avax One Technology Ltd (AVX) annual income statement — 8-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 |
|---|
| Sales/Revenue | 6.94M | 2.34M | 26.57K | 16.28K | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | 743.75% | 8709.31% | 63.21% | - | - | - | - | - | - |
| Cost of Goods Sold | 3.21M | 1.43M | 56.05K | 13.58K | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | 61.12% | 210.93% | 83.39% | - | - | - | - | - |
| Gross Profit | 3.73M | 910.14K | -29.48K | 2.7K | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | 53.76% | 38.88% | -110.93% | 16.61% | - | - | - | - | - |
| Gross Profit Growth % | - | 3187.75% | -1190.09% | - | - | - | - | - | - |
| Operating Expenses | 51.22M | 16.74M | 5.73M | 9.19M | 13.66M | 6.93M | 3.35M | 5.12M | 2.5M |
| OpEx % of Revenue | - | 714.99% | 21566.12% | 56460.33% | - | - | - | - | - |
| Selling, General & Admin | 8.69M | 6.48M | 4.5M | 7.83M | 11.61M | 5.55M | 2.74M | 3.81M | 1.75M |
| SG&A % of Revenue | - | 276.73% | 16927.59% | 48071.08% | - | - | - | - | - |
| Research & Development | -48.14K | 18.77K | 75.28K | 6.59K | 615.69K | 474.34K | 123.92K | 1.11M | 881.43K |
| R&D % of Revenue | - | 0.8% | 283.32% | 40.47% | - | - | - | - | - |
| Other Operating Expenses | 2.96M | 10.24M | 1.16M | 1.36M | 1.43M | 903.24K | 0 | 0 | -137.24K |
| Operating Income | -47.49M | -15.83M | -5.76M | -9.19M | -13.66M | -6.93M | -3.35M | -5.12M | -2.5M |
| Operating Margin % | -683.91% | -676.11% | -21677.05% | -56443.72% | - | - | - | - | - |
| Operating Income Growth % | - | -174.76% | 37.32% | 32.71% | -97.09% | -107.12% | 34.65% | -104.99% | - |
| EBITDA | -46.24M | -14.4M | -5.09M | -8.51M | -13.63M | -6.92M | -3.34M | -5.11M | -2.49M |
| EBITDA Margin % | -665.91% | -615.38% | -19166.66% | -52268.03% | - | - | - | - | - |
| EBITDA Growth % | -355.46% | -182.84% | 40.15% | 37.58% | -97.11% | -107.33% | 34.72% | -104.94% | - |
| D&A (Non-Cash Add-back) | 1.25M | 1.42M | 667.06K | 679.84K | 22.41K | 11.8K | 9.06K | 8.11K | 3.29K |
| EBIT | -101.76M | -28.85M | -12.89M | -3.77M | -9.48M | -6.16M | 0 | 0 | -1.98M |
| Net Interest Income | -4.76M | -3.15M | -2.98M | -7.96M | -3.4M | -483.53K | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 4.76M | 3.15M | 2.98M | 7.96M | 3.4M | 483.53K | 0 | 0 | 0 |
| Other Income/Expense | -59.07M | -16.17M | -10.11M | -2.54M | 783.17K | 285.7K | 123.84K | -3.6K | -247.58K |
| Pretax Income | -106.55M | -31.99M | -15.87M | -11.73M | -12.87M | -6.64M | -3.22M | -5.12M | -2.74M |
| Pretax Margin % | -1534.56% | -1366.81% | -59731.12% | -72066.89% | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -106.51M | -33.2M | -16.27M | -11.73M | -12.87M | -6.64M | -3.22M | -5.12M | -2.74M |
| Net Margin % | -1533.92% | -1418.11% | -61247.99% | -72066.89% | - | - | - | - | - |
| Net Income Growth % | -529.46% | -103.97% | -38.71% | 8.85% | -93.78% | -106.21% | 37.07% | -86.5% | - |
| Net Income (Continuing) | -106.55M | -31.99M | -15.87M | -11.73M | -12.87M | -6.64M | -3.22M | -5.12M | -2.74M |
| Discontinued Operations | 44.14K | -1.2M | -403.06K | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -13.38 | -25.14 | -39.96 | -1011.03 | -3560.00 | -2431.05 | -1435.65 | -1930.75 | -8506.59 |
| EPS Growth % | 93.81% | 37.09% | 96.05% | 71.6% | -46.44% | -69.33% | 25.64% | 77.3% | - |
| EPS (Basic) | - | -23.66 | -39.96 | -1011.03 | -3560.00 | -2431.05 | -1435.65 | -1930.75 | -8506.59 |
| Diluted Shares Outstanding | 7.96M | 1.39M | 33.94K | 967 | 301 | 253 | 242 | 242 | 27 |
| Basic Shares Outstanding | 7.96M | 1.37M | 33.94K | 967 | 301 | 253 | 242 | 242 | 27 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying AVX stock.
For fiscal year 2025, Avax One Technology Ltd (AVX) reported total revenue of $2.3M.
Avax One Technology Ltd (AVX) reported a net loss of $33.2M for the fiscal year ending 2025.
Avax One Technology Ltd (AVX) reported an operating income of $-15.8M, resulting in an operating profit margin of -676.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Avax One Technology Ltd (AVX) generated $0.9M in gross profit for the year, representing a gross profit margin of 38.9%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Unsustainable Operating Burn Rate
Metrics are mathematically derived from official filings.
Revenue Scaling From Nascent Base
According to recent quarterly filings, AVX achieved a revenue of $2.5M in 2026Q1, marking a significant departure from the negligible figures reported in previous periods, though this rapid expansion appears highly dependent on the successful conversion of project-based consulting engagements into larger, more consistent commercial contracts.
The jump in revenue suggests the company is transitioning from a pre-revenue R&D phase into active commercialization. However, investors should monitor whether this growth is driven by one-time project milestones or if it represents a repeatable, scalable business model within the controlled environment agriculture sector.
Gross Margin Volatility Reflects Immaturity
As reported in financial statements, AVX's gross margin reached 42.2% in 2026Q1, yet the historical data shows extreme fluctuations, including a negative margin in 2024Q4, which suggests that the company has not yet established a stable or predictable cost-of-goods-sold structure for its sterilization technology.
The current gross margin profile indicates that the company is still refining its delivery model and cost management. Until the company demonstrates consistent margin performance, it remains difficult to determine if its intellectual property provides a durable pricing advantage over competitors in the agricultural technology space.
Operating Expenses Outpacing Revenue Growth
Based on the provided income statement data, AVX's SG&A expenses remain consistently high at $2.5M for 2026Q1, which effectively neutralizes the gross profit generated and highlights a structural reliance on external capital to fund ongoing corporate administration and research development activities.
The persistent disconnect between operating expenses and revenue suggests that the company is prioritizing growth and IP development over immediate operational efficiency. This cost structure warrants further investigation to determine if management can achieve the necessary scale to reach a break-even point before current cash reserves are exhausted.
Net Losses Masked By Financing
Analysis of the income statement reveals that AVX reported a net loss of $46.4M in 2026Q1, a figure that appears disconnected from its operating performance and suggests that non-operating items or accounting adjustments are significantly impacting the bottom line, necessitating a cautious interpretation of reported earnings.
The extreme disparity between operating losses and net losses indicates that the company's bottom line is heavily influenced by factors beyond core business operations. Investors should scrutinize these non-operating items to understand the true underlying health of the business and the potential for future earnings volatility.