Revenue volatility remains extreme, with a 94.9% year-over-year growth spike in 2026Q2 failing to offset an operating margin of -85.0%.
| Sales/Revenue | 4.56M | 2.85M | 0 | 799.75K | 4.5M | 3M |
| Revenue Growth % | 576.54% | - | -100% | -82.24% | 49.9% | - |
| Cost of Goods Sold | 4.47M | 2.79M | 0 | 1.26M | 3.03M | 2.07M |
| COGS % of Revenue | - | 98.04% | - | 156.96% | 67.33% | 68.9% |
| Gross Profit | 94.23K | 55.75K | 0 | -455.57K | 1.47M | 934.04K |
| Gross Margin % | 2.07% | 1.96% | - | -56.96% | 32.67% | 31.1% |
| Gross Profit Growth % | - | - | 100% | -130.97% | 57.49% | - |
| Operating Expenses | 3.91M | 4.42M | 844.84K | 3.53M | 2.28M | 1.24M |
| OpEx % of Revenue | - | 155.23% | - | 441.19% | 50.66% | 41.14% |
| Selling, General & Admin | 3.91M | 4.41M | 844.84K | 2.19M | 2.55M | 1.23M |
| SG&A % of Revenue | - | 155.11% | - | 273.97% | 56.59% | 40.94% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 3.51K | 0 | 1.34M | -266.86K | 6K |
| Operating Income | -3.81M | -4.36M | -844.84K | -3.98M | -809.98K | -301.61K |
| Operating Margin % | -83.6% | -153.27% | - | -498.16% | -17.99% | -10.04% |
| Operating Income Growth % | - | -416.36% | 78.79% | -391.87% | -168.55% | - |
| EBITDA | -3.81M | -4.36M | -757.73K | -3.91M | -776.84K | -295.61K |
| EBITDA Margin % | -83.6% | -153.15% | - | -489.48% | -17.25% | -9.84% |
| EBITDA Growth % | -77.04% | -475.27% | 80.64% | -403.91% | -162.79% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 87.12K | 69.44K | 33.14K | 6K |
| EBIT | -3.81M | -4.36M | -844.84K | -2.72M | -1.11M | -71.61K |
| Net Interest Income | 353.81K | 62.92K | 99.74K | -72.12K | -10.11K | -7.81K |
| Interest Income | 353.81K | 62.92K | 99.74K | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 72.12K | 10.11K | 7.81K |
| Other Income/Expense | -146.62K | -2.45M | 237.95K | -39.2K | -310.11K | 222.19K |
| Pretax Income | -3.96M | -6.81M | -606.89K | -4.02M | -1.12M | -79.42K |
| Pretax Margin % | -86.82% | -239.38% | - | -503.06% | -24.88% | -2.64% |
| Income Tax | 800 | 800 | 800 | 0 | 9.91K | 26.58K |
| Effective Tax Rate % | -0.02% | -0.01% | -0.13% | 0% | -0.89% | -33.47% |
| Net Income | -3.96M | -7.08M | -3.21M | -3.9M | -1.01M | -106K |
| Net Margin % | -86.84% | -248.73% | - | -487.13% | -22.4% | -3.53% |
| Net Income Growth % | 28.98% | -120.28% | 17.5% | -286.23% | -851.6% | - |
| Net Income (Continuing) | -3.96M | -6.81M | -607.69K | -4.02M | -1.13M | -106K |
| Discontinued Operations | 0 | -195.8K | -2.64M | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | -212.35K | -248.77K | -121.34K | 0 |
| EPS (Diluted) | -0.48 | -1.31 | -1.59 | -2.15 | -0.59 | -0.07 |
| EPS Growth % | 66.65% | 17.61% | 26.05% | -264.41% | -799.39% | - |
| EPS (Basic) | - | -1.31 | -1.59 | -2.15 | -0.60 | -0.07 |
| Diluted Shares Outstanding | 8.18M | 5.4M | 2.02M | 1.82M | 1.72M | 1.62M |
| Basic Shares Outstanding | 8.18M | 5.4M | 2.02M | 1.82M | 1.68M | 1.62M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Liquidity depletion from burn
According to the provided quarterly income statements, INHD's revenue trajectory remains highly volatile, characterized by periods of zero reported revenue followed by sporadic growth, such as the 94.9% year-over-year increase observed in 2026Q2, which suggests a project-dependent model lacking consistent, recurring demand signals.
The intermittent nature of top-line performance indicates that the company is struggling to build a predictable pipeline of construction projects. Investors should monitor whether this volatility is a byproduct of the nascent mobile factory rollout or a fundamental inability to secure long-term contracts in the competitive Texas steel market.
As reported in financial filings, INHD's gross margin has deteriorated to a nominal 1.96% in 2026Q2, reflecting an inability to effectively amortize fixed manufacturing costs across its current project volume while remaining highly exposed to the volatile input costs of raw steel.
The thin margin profile suggests that the company possesses negligible pricing power, leaving it vulnerable to even minor inflationary pressures in labor or materials. Without a significant increase in throughput, the current cost structure appears insufficient to support a sustainable business model.
Based on the income statement data, INHD exhibits a severe lack of operating leverage, with an operating margin of -153.27% in 2026Q2, indicating that SG&A expenses continue to dwarf gross profit by a significant magnitude despite recent attempts to scale operations.
The persistent disconnect between revenue growth and overhead suggests that the company's current administrative and operational footprint is oversized for its actual output. This structural imbalance warrants further investigation into whether management can achieve the necessary scale to reach operating break-even before existing cash reserves are exhausted.
Analysis of the income statement reveals that net losses remain substantial, with a net margin of -248.73% in 2026Q2, highlighting that the company's reported losses are driven by core operational inefficiencies rather than one-time non-operating items or accounting anomalies.
The absence of meaningful profitability suggests that the company is currently in a value-destructive phase of its lifecycle. Investors should be cautious of the reliance on cash reserves to fund ongoing operations, as there is no evidence of a transition toward self-sustaining cash flow generation.
While the company promotes a mobile manufacturing advantage, the financial data suggests that the model has yet to prove its economic viability, as evidenced by the consistent failure to generate positive gross profit in several recent quarters.
Short-term observers may focus on the risk that the mobile factory concept is fundamentally incompatible with the high-volume, low-margin reality of the steel fabrication industry. The lack of a clear path to margin expansion suggests that the current valuation may be disconnected from the underlying operational performance.
Quick answers to the most common questions about buying INHD stock.
For fiscal year 2025, Inno Holdings Inc. (INHD) reported total revenue of $2.8M. This represents a 5.2% decline compared to $3.0M in 2021.
Inno Holdings Inc. (INHD) reported a net loss of $7.1M for the fiscal year ending 2025.
Inno Holdings Inc. (INHD) reported an operating income of $-4.4M, resulting in an operating profit margin of -153.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Inno Holdings Inc. (INHD) generated $0.1M in gross profit for the year, representing a gross profit margin of 2.0%. This demonstrates the company's core pricing power and production efficiency.