Revenue has contracted severely to $1.7 million, resulting in a deeply negative operating margin of -194.4% as fixed costs overwhelm the shrinking student base.
| Metric | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 | Dec'95 |
|---|
| Sales/Revenue | 5.04M | 9.38M | 8.43M | 5.25M | 7.73M | 932.71K | 138.15M | 113.95M | 130.42M | 120.57M | 98.36M | 89.2M | 81.63M | 32.83M | 33.37M | 29.25M | 31.44M | 27.3M | 47.5M | 39.34M | 32.69M | 32.99M | 22.34M | 23.93M | 25.2M | 20.2M | 16.4M | 15.6M | 13.2M | 13.3M |
| Revenue Growth % | -46.23% | 11.25% | 60.67% | -32.06% | 728.26% | -99.32% | 21.23% | -12.63% | 8.17% | 22.58% | 10.27% | 9.28% | 148.63% | -1.61% | 14.09% | -6.99% | 15.19% | -42.52% | 20.72% | 20.36% | -0.91% | 47.64% | -6.64% | -5.04% | 24.77% | 23.17% | 5.13% | 18.18% | -0.75% | - |
| Cost of Goods Sold | 6.34M | 10.1M | 4.67M | 2.64M | 3.46M | 469.86K | 114.99M | 89.86M | 96.81M | 100.51M | 86.93M | 72.04M | 57.74M | 25.99M | 27.67M | 26.03M | 26.83M | 23.68M | 36.65M | 29.35M | 28.63M | 27.98M | 17.62M | 18.92M | 21.72M | 16.3M | 14.5M | 13M | 11.9M | 12.1M |
| COGS % of Revenue | 125.6% | 107.62% | 55.37% | 50.24% | 44.78% | 50.38% | 83.23% | 78.86% | 74.23% | 83.36% | 88.37% | 80.76% | 70.74% | 79.18% | 82.93% | 88.99% | 85.32% | 86.73% | 77.17% | 74.61% | 87.59% | 84.82% | 78.85% | 79.05% | 86.17% | 80.69% | 88.41% | 83.33% | 90.15% | 90.98% |
| Gross Profit | -1.29M | -714.93K | 3.76M | 2.61M | 4.27M | 462.85K | 23.16M | 24.09M | 33.61M | 20.06M | 11.44M | 17.16M | 23.89M | 6.84M | 5.7M | 3.22M | 4.62M | 3.62M | 10.84M | 9.99M | 4.06M | 5.01M | 4.73M | 5.01M | 3.49M | 3.9M | 1.9M | 2.6M | 1.3M | 1.2M |
| Gross Margin % | -25.6% | -7.62% | 44.63% | 49.76% | 55.22% | 49.62% | 16.77% | 21.14% | 25.77% | 16.64% | 11.63% | 19.24% | 29.26% | 20.82% | 17.07% | 11.01% | 14.68% | 13.27% | 22.83% | 25.39% | 12.41% | 15.18% | 21.15% | 20.95% | 13.83% | 19.31% | 11.59% | 16.67% | 9.85% | 9.02% |
| Gross Profit Growth % | -80.6% | -119% | 44.11% | -38.78% | 821.63% | -98% | -3.86% | -28.33% | 67.58% | 75.39% | -33.36% | -28.15% | 249.38% | 20.01% | 76.91% | -30.23% | 27.41% | -66.58% | 8.53% | 146.28% | -19.02% | 6.01% | -5.77% | 43.86% | -10.63% | 105.26% | -26.92% | 100% | 8.33% | - |
| Operating Expenses | 2.18M | 1.61M | 3.22M | 1.09M | 452.33K | 81.64K | 15.77M | 13.83M | 12.23M | 11.31M | 10.39M | 9M | 7.13M | 5.66M | 5.71M | 5.62M | 6.49M | 6.84M | 6.5M | 6.01M | 4.52M | 4.17M | 4.08M | 3.99M | 3.49M | 2.5M | 2.5M | 2.3M | 2M | 1.9M |
| OpEx % of Revenue | 43.18% | 17.2% | 38.22% | 20.77% | 5.86% | 8.75% | 11.42% | 12.14% | 9.37% | 9.38% | 10.56% | 10.09% | 8.73% | 17.25% | 17.13% | 19.22% | 20.65% | 25.07% | 13.68% | 15.28% | 13.82% | 12.65% | 18.27% | 16.65% | 13.86% | 12.38% | 15.24% | 14.74% | 15.15% | 14.29% |
| Selling, General & Admin | 2.18M | 1.61M | 3.33M | 1.58M | 536.99K | 81.64K | 7.34M | 6.61M | 5.91M | 4.75M | 4.32M | 4.04M | 3.56M | 2.86M | 2.96M | 2.87M | 3.3M | 3.28M | 4.02M | 3.65M | 2.38M | 2.53M | 2.68M | 2.42M | 2.22M | 1.4M | 1.4M | 1.2M | 1.1M | 1M |
| SG&A % of Revenue | 43.18% | 17.2% | 39.52% | 30.11% | 6.95% | 8.75% | 5.31% | 5.8% | 4.53% | 3.94% | 4.39% | 4.53% | 4.36% | 8.7% | 8.87% | 9.82% | 10.49% | 12.01% | 8.46% | 9.28% | 7.27% | 7.67% | 11.98% | 10.1% | 8.8% | 6.93% | 8.54% | 7.69% | 8.33% | 7.52% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | -133.41K | 20.71K | 245.02K | 0 | 8.44M | 7.22M | 6.31M | 6.56M | 6.06M | 4.97M | 3.57M | 2.81M | 2.76M | 2.75M | 3.19M | 3.56M | 2.48M | 2.36M | 2.14M | 1.65M | 1.4M | 1.57M | 1.27M | 1.1M | 1.1M | 1.1M | 900K | 900K |
| Operating Income | -3.47M | -2.33M | 430.79K | 1.03M | 3.73M | 381.21K | 7.39M | 10.26M | 21.39M | 8.75M | 1.05M | 8.16M | 16.76M | 1.17M | -18.06K | -2.4M | -1.88M | -3.22M | 4.34M | 3.98M | -460.8K | 834.62K | 642.88K | 1.03M | -7.33K | 1.4M | -600K | 300K | -700K | -700K |
| Operating Margin % | -68.77% | -24.82% | 5.11% | 19.64% | 48.27% | 40.87% | 5.35% | 9.01% | 16.4% | 7.26% | 1.07% | 9.14% | 20.53% | 3.57% | -0.05% | -8.21% | -5.97% | -11.8% | 9.14% | 10.11% | -1.41% | 2.53% | 2.88% | 4.3% | -0.03% | 6.93% | -3.66% | 1.92% | -5.3% | -5.26% |
| Operating Income Growth % | -48.99% | -640.5% | -58.22% | -72.35% | 878.14% | -94.84% | -28.02% | -52.02% | 144.39% | 732.96% | -87.12% | -51.32% | 1329.08% | 6590.89% | 99.25% | -27.88% | 41.68% | -174.14% | 9.22% | 962.97% | -155.21% | 29.82% | -37.48% | 14119.77% | -100.52% | 333.33% | -300% | 142.86% | 0% | - |
| EBITDA | -1.35M | 114K | 1.83M | 1.53M | 3.78M | 437.11K | 15.82M | 17.48M | 27.7M | 15.31M | 7.12M | 13.12M | 20.33M | 3.98M | 2.74M | 396.07K | 1.28M | -143.63K | 6.88M | 6.34M | 1.68M | 2.48M | 2.05M | 2.6M | 1.27M | 2.5M | 500K | 1.4M | 200K | 200K |
| EBITDA Margin % | -26.69% | 1.22% | 21.65% | 29.07% | 48.96% | 46.86% | 11.45% | 15.34% | 21.24% | 12.7% | 7.23% | 14.71% | 24.9% | 12.12% | 8.21% | 1.35% | 4.08% | -0.53% | 14.48% | 16.11% | 5.14% | 7.52% | 9.16% | 10.85% | 5.03% | 12.38% | 3.05% | 8.97% | 1.52% | 1.5% |
| EBITDA Growth % | -1280.77% | -93.75% | 19.64% | -59.66% | 765.36% | -97.24% | -9.47% | -36.9% | 80.92% | 115.19% | -45.78% | -35.43% | 410.61% | 45.32% | 591.59% | -69.09% | 992.19% | -102.09% | 8.54% | 277.23% | -32.27% | 21.15% | -21.17% | 104.98% | -49.32% | 400% | -64.29% | 600% | 0% | - |
| D&A (Non-Cash Add-back) | 2.12M | 2.44M | 1.39M | 494.73K | 53.76K | 55.9K | 8.44M | 7.22M | 6.31M | 6.56M | 6.06M | 4.97M | 3.57M | 2.81M | 2.76M | 2.8M | 3.16M | 3.08M | 2.54M | 2.36M | 2.14M | 1.65M | 1.4M | 1.57M | 1.27M | 1.1M | 1.1M | 1.1M | 900K | 900K |
| EBIT | -10.69M | 7.66M | -1.16M | 1.16M | 4.06M | 381.3K | 7.7M | 10.27M | 21.51M | 8.87M | 1.46M | 8.39M | 17.09M | 1.11M | 34.82K | -2.34M | -4.9M | -2.91M | 4.73M | 4.1M | -297.89K | 906.08K | 745.42K | 1.71M | 2.6M | 0 | -600K | 0 | 0 | 0 |
| Net Interest Income | -4.95M | -6.12M | -3.28M | -906.4K | -141.69K | -86.97K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 91 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 4.95M | 6.12M | 3.28M | 906.4K | 141.69K | 87.06K | 875.65K | 665.27K | 591.18K | 667.6K | 681.1K | 594.63K | 348.37K | 168.16K | 134.94K | 123.59K | 401.13K | 585.95K | 238.82K | 141.03K | 72.44K | 26.62K | 27.92K | 49.04K | 24.95K | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -12.18M | 3.87M | -4.86M | -774.68K | 187.99K | -86.97K | -562.44K | -652.73K | -471.71K | -548.15K | -272.6K | -365.06K | -10.65K | -226.11K | -82.06K | -63.32K | -3.42M | -277.55K | 151.49K | -15.93K | 90.47K | 44.85K | 74.62K | 636.73K | 2.58M | 600K | -100K | 400K | 400K | 100K |
| Pretax Income | -15.65M | 1.54M | -4.43M | 256.29K | 3.92M | 294.23K | 6.82M | 9.61M | 20.92M | 8.2M | 778.14K | 7.79M | 16.74M | 946.34K | -100.12K | -2.46M | -5.3M | -3.5M | 4.49M | 3.96M | -370.33K | 879.47K | 717.5K | 1.67M | 2.58M | 2M | -700K | 700K | -300K | -600K |
| Pretax Margin % | -310.16% | 16.43% | -52.58% | 4.88% | 50.7% | 31.55% | 4.94% | 8.43% | 16.04% | 6.8% | 0.79% | 8.73% | 20.51% | 2.88% | -0.3% | -8.43% | -16.85% | -12.81% | 9.46% | 10.07% | -1.13% | 2.67% | 3.21% | 6.96% | 10.22% | 9.9% | -4.27% | 4.49% | -2.27% | -4.51% |
| Income Tax | 100.9K | 574.21K | -861.86K | 312.77K | 1M | 52.49K | 1.8M | 1.04M | 7.81M | 3.38M | 653.44K | 3.28M | 4.78M | 73.61K | 34.6K | -537.36K | -23.36K | -1.2M | 1.74M | 1.58M | -80.56K | 379.18K | 363.87K | 172.31K | -1.11M | -500K | -100K | 300K | 0 | 100K |
| Effective Tax Rate % | -0.64% | 37.25% | 19.44% | 122.03% | 25.61% | 17.84% | 26.33% | 10.78% | 37.34% | 41.18% | 83.97% | 42.16% | 28.57% | 7.78% | -34.56% | 21.8% | 0.44% | 34.18% | 38.72% | 39.95% | 21.75% | 43.12% | 50.71% | 10.35% | -42.94% | -25% | 14.29% | 42.86% | 0% | -16.67% |
| Net Income | -15.84M | 1.02M | -3.47M | 9.75K | 2.87M | 215.75K | 5.03M | 8.3M | 13M | 4.49M | -319.06K | 3.78M | 11.96M | 873.72K | -252.56K | -1.93M | -5.39M | -2.32M | 3M | 2.32M | -387.77K | 365.91K | 681.75K | 1.49M | 3.68M | 2.5M | -600K | 400K | -300K | -700K |
| Net Margin % | -314.07% | 10.9% | -41.2% | 0.19% | 37.11% | 23.13% | 3.64% | 7.28% | 9.97% | 3.73% | -0.32% | 4.24% | 14.65% | 2.66% | -0.76% | -6.59% | -17.13% | -8.5% | 6.31% | 5.9% | -1.19% | 1.11% | 3.05% | 6.24% | 14.61% | 12.38% | -3.66% | 2.56% | -2.27% | -5.26% |
| Net Income Growth % | -1648.69% | 129.44% | -35739.68% | -99.66% | 1228.82% | -95.71% | -39.41% | -36.17% | 189.32% | 1508.24% | -108.43% | -68.37% | 1268.99% | 445.95% | 86.89% | 64.23% | -132.11% | -177.46% | 29.01% | 698.88% | -205.98% | -46.33% | -54.33% | -59.46% | 47.27% | 516.67% | -250% | 233.33% | 57.14% | - |
| Net Income (Continuing) | -15.75M | 967.25K | -3.57M | -56.47K | 2.91M | 241.74K | 5.03M | 8.3M | 13M | 4.49M | -319.06K | 3.78M | 11.96M | 873.72K | -252.56K | -1.93M | -5.39M | -2.32M | 3M | 2.32M | -387.77K | 365.91K | 681.75K | 1.49M | 3.68M | 2.5M | -600K | 400K | -300K | -700K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 77.82K | -16.05K | 48.91K | 236.25K | -175.37K | -198.99K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -3.66 | 0.02 | -0.09 | 0.00 | 0.07 | 0.01 | 0.20 | 0.33 | 0.51 | 0.18 | -0.01 | 0.15 | 0.47 | 0.03 | -0.01 | -0.08 | -0.21 | -0.09 | 0.12 | 0.09 | -0.01 | 0.01 | 0.02 | 0.05 | 0.13 | 0.09 | -0.02 | 0.01 | -0.01 | -0.03 |
| EPS Growth % | -17445.97% | 123.5% | - | -99.73% | - | -95.6% | -39.39% | -35.29% | 183.33% | 1540% | -108.33% | -68.09% | 1270.26% | - | 86.92% | 63.95% | -130.26% | -176% | 32.74% | 710.81% | -208.03% | -44.76% | -54.24% | -58.31% | 45.58% | 500.45% | -249.66% | 233.04% | 57.09% | - |
| EPS (Basic) | -3.66 | 0.02 | -0.09 | 0.00 | 0.07 | 0.01 | 0.20 | 0.33 | 0.51 | 0.18 | -0.01 | 0.15 | 0.47 | 0.03 | -0.01 | -0.08 | -0.21 | -0.09 | 0.12 | 0.09 | -0.01 | 0.01 | 0.02 | 0.05 | 0.14 | 0.09 | -0.02 | 0.01 | -0.01 | -0.03 |
| Diluted Shares Outstanding | 4.33M | 3.42M | 2.58M | 2.62M | 2.62M | 1.63M | 1.69M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.71M | 1.75M | 1.78M | 1.84M | 1.84M | 1.86M | 1.87M | 1.79M | 1.79M | 1.79M | 1.79M |
| Basic Shares Outstanding | 4.33M | 3.42M | 2.58M | 2.62M | 2.62M | 1.63M | 1.69M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | 1.71M | 1.75M | 1.77M | 1.83M | 1.82M | 1.79M | 1.79M | 1.79M | 1.79M | 1.79M | 1.79M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Existential Regulatory Policy Exposure
As indicated by the most recent quarterly data, Visionary Holdings Inc. has experienced a precipitous decline in top-line performance, with revenue falling to $1.7 million from historical peaks exceeding $40 million, signaling a fundamental breakdown in the company's student recruitment and service delivery pipeline.
The dramatic drop in revenue suggests that the company's reliance on international student volume is highly susceptible to external regulatory shifts. This contraction appears to be structural rather than cyclical, as the firm struggles to maintain its core academic and ancillary service offerings in a tightening Canadian immigration environment.
Based on reported financial statements, the company's gross margin has deteriorated significantly, reflecting an inability to align fixed campus and housing costs with a shrinking student population, which currently leaves the firm unable to cover its direct cost of revenue effectively.
The shift from historical gross margins above 50% to recent levels near 12.9% highlights a loss of pricing power and operational efficiency. This margin compression suggests that the company's physical infrastructure, once an asset, has become a significant liability that exacerbates losses during periods of low enrollment.
According to recent SEC filings, Visionary Holdings Inc. is currently suffering from extreme negative operating leverage, as SG&A expenses of $3.5 million in the most recent quarter vastly outweigh the meager gross profit, indicating a lack of scalability in the current business model.
The inability to rationalize overhead costs in response to declining revenue suggests that the company's cost structure is largely fixed and inflexible. Investors should monitor whether management can implement meaningful cost-cutting measures, as the current trajectory indicates that operating losses are accelerating relative to the shrinking revenue base.
Based on the provided figures, the company's cash position of $334,910 appears insufficient to support ongoing operations, raising significant questions regarding the firm's ability to sustain its current business model without immediate external capital injections or a radical restructuring of its service offerings.
Short-sellers would likely focus on the widening gap between cash reserves and quarterly operating losses, which suggests that the company may be approaching a liquidity crisis. The lack of revenue diversification and the high sensitivity to Canadian study permit policies imply that the current valuation may not fully account for the risk of insolvency.
Quick answers to the most common questions about buying GV stock.
For fiscal year 2025, Visionary Holdings Inc. (GV) reported total revenue of $5.0M. This represents a 62.1% decline compared to $13.3M in 1995.
Visionary Holdings Inc. (GV) reported a net loss of $15.8M for the fiscal year ending 2025.
Visionary Holdings Inc. (GV) reported an operating income of $-3.5M, resulting in an operating profit margin of -68.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Visionary Holdings Inc. (GV) generated $-1.3M in gross profit for the year, representing a gross profit margin of -25.6%. This demonstrates the company's core pricing power and production efficiency.