Revenue contraction is evident as top-line figures fell to $30.7M in 2025Q4, while gross margins remain structurally capped at 52.7% due to platform-mandated revenue sharing.
| Sales/Revenue | 118.05M | 145.24M | 168.16M | 140.9M |
| Revenue Growth % | -18.72% | -13.63% | 19.35% | - |
| Cost of Goods Sold | 55.86M | 70.66M | 71.37M | 67.17M |
| COGS % of Revenue | 47.32% | 48.65% | 42.44% | 47.67% |
| Gross Profit | 62.19M | 74.58M | 96.78M | 73.73M |
| Gross Margin % | 52.68% | 51.35% | 57.56% | 52.33% |
| Gross Profit Growth % | -16.61% | -22.94% | 31.27% | - |
| Operating Expenses | 58.8M | 66.23M | 93.63M | 70.57M |
| OpEx % of Revenue | 49.81% | 45.6% | 55.68% | 50.09% |
| Selling, General & Admin | 53.1M | 61.44M | 88.15M | 60.8M |
| SG&A % of Revenue | 44.98% | 42.3% | 52.42% | 43.15% |
| Research & Development | 5.69M | 4.79M | 5.49M | 9.77M |
| R&D % of Revenue | 4.82% | 3.3% | 3.26% | 6.94% |
| Other Operating Expenses | 0 | 1K | 0 | 0 |
| Operating Income | 3.39M | 8.35M | 3.15M | 3.16M |
| Operating Margin % | 2.87% | 5.75% | 1.87% | 2.24% |
| Operating Income Growth % | -59.39% | 164.93% | -0.19% | - |
| EBITDA | 4.39M | 9.25M | 4.13M | 3.96M |
| EBITDA Margin % | 3.72% | 6.37% | 2.46% | 2.81% |
| EBITDA Growth % | -52.53% | 123.66% | 4.33% | - |
| D&A (Non-Cash Add-back) | 999.14K | 898.5K | 983.21K | 805.49K |
| EBIT | 3.39M | 8.35M | 3.15M | 3.16M |
| Net Interest Income | 555.52K | 357.62K | 212.89K | 64.45K |
| Interest Income | 555.52K | 357.62K | 212.89K | 64.45K |
| Interest Expense | 0 | 0 | 0 | 0 |
| Other Income/Expense | 595.29K | 373.01K | 864.66K | -1.14M |
| Pretax Income | 3.99M | 8.72M | 4.01M | 2.02M |
| Pretax Margin % | 3.38% | 6% | 2.39% | 1.43% |
| Income Tax | 165.59K | 130.31K | -78.74K | 554.83K |
| Effective Tax Rate % | 4.15% | 1.49% | -1.96% | 27.48% |
| Net Income | 3.96M | 8.25M | 3.79M | 2.05M |
| Net Margin % | 3.36% | 5.68% | 2.25% | 1.46% |
| Net Income Growth % | -51.97% | 117.63% | 84.79% | - |
| Net Income (Continuing) | 3.82M | 8.59M | 4.09M | 1.46M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | -117.94K | 28.04K | -314.58K | -620.72K |
| EPS (Diluted) | 0.08 | 0.15 | 0.07 | 0.04 |
| EPS Growth % | -48.73% | 112.16% | 72.44% | - |
| EPS (Basic) | 0.08 | 0.15 | 0.07 | 0.04 |
| Diluted Shares Outstanding | 51.54M | 50.05M | 50.05M | 50.05M |
| Basic Shares Outstanding | 51.54M | 50.05M | 50.05M | 50.05M |
| Dividend Payout Ratio | - | - | - | - |
High user acquisition dependency
As evidenced by the recent financial data, GMHS experienced a significant revenue decline, with top-line figures falling from $45.2M in late 2023 to $30.7M by 2025Q4, representing a clear contraction that suggests the company's current game portfolio is failing to sustain historical user engagement levels.
The consistent downward trend in quarterly revenue indicates that the company's publishing pipeline is struggling to replace the natural churn of its aging mobile titles. Investors should monitor whether this contraction is a result of reduced marketing spend or a fundamental loss of competitive relevance in the crowded mobile gaming market.
According to the reported income statements, GMHS maintains a gross margin profile hovering around 52.7%, a level that appears structurally constrained by the mandatory 30% platform fees and revenue-sharing agreements inherent to the third-party mobile publishing model utilized by the firm.
This margin profile leaves little room for error, as the company must absorb significant variable costs before reaching the operating line. The inability to expand these margins suggests that GMHS lacks the pricing power necessary to offset rising distribution costs or platform-level take-rate increases.
Based on the provided financial figures, GMHS demonstrates a lack of meaningful operating leverage, as the company's operating margin of 4.6% in 2025Q4 remains thin despite significant fluctuations in SG&A expenses, which appear to be directly tied to volatile user acquisition requirements.
The data suggests that for every incremental dollar of revenue, the company is forced to reinvest a substantial portion into marketing to maintain its user base. This dynamic prevents the scaling of operating income and leaves the firm highly vulnerable to any external shocks in advertising inventory pricing.
While the company maintains a clean balance sheet, the income statement analysis suggests that GMHS functions more as a high-risk ad-arbitrage firm than a traditional gaming entity, with recent data showing that operating margins are highly sensitive to the efficiency of its user acquisition spend.
Short-term profitability appears to be a function of aggressive cost management rather than organic growth, which warrants further investigation into the long-term viability of the current UA strategy. If the company's proprietary algorithms lose their efficacy in a post-privacy regulation environment, the current thin profitability could quickly evaporate.
Quick answers to the most common questions about buying GMHS stock.
For fiscal year 2025, Gamehaus Holdings Inc. (GMHS) reported total revenue of $118.0M. This represents a 16.2% decline compared to $140.9M in 2022.
Gamehaus Holdings Inc. (GMHS) is profitable, generating $4.0M in net income for the fiscal year ending 2025 with a net profit margin of 3.4%.
Gamehaus Holdings Inc. (GMHS) reported an operating income of $3.4M, resulting in an operating profit margin of 2.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Gamehaus Holdings Inc. (GMHS) generated $62.2M in gross profit for the year, representing a gross profit margin of 52.7%. This demonstrates the company's core pricing power and production efficiency.