Revenue has experienced a near-total collapse to $10.9K in 2025Q4, driving an unsustainable operating margin of -186.2% as fixed costs continue to outpace commercial activity.
| Sales/Revenue | 34.18K | 10.29M | 12.73M | 22.03M | 15.47M |
| Revenue Growth % | -99.67% | -19.19% | -42.2% | 42.42% | - |
| Cost of Goods Sold | 9.69K | 6.12M | 10.87M | 18.32M | 12.93M |
| COGS % of Revenue | 28.35% | 59.51% | 85.39% | 83.18% | 83.6% |
| Gross Profit | 24.49K | 4.17M | 1.86M | 3.7M | 2.54M |
| Gross Margin % | 71.65% | 40.49% | 14.61% | 16.82% | 16.4% |
| Gross Profit Growth % | -99.41% | 123.91% | -49.77% | 46% | - |
| Operating Expenses | 55.4K | 4.24M | 2.56M | 2.49M | 1.66M |
| OpEx % of Revenue | 162.08% | 41.24% | 20.09% | 11.29% | 10.71% |
| Selling, General & Admin | 7.73M | 3.94M | 1.97M | 1.86M | 1.55M |
| SG&A % of Revenue | 22605.98% | 38.3% | 15.47% | 8.44% | 10.04% |
| Research & Development | 3.92K | 302.28K | 588.11K | 628.35K | 102.88K |
| R&D % of Revenue | 11.48% | 2.94% | 4.62% | 2.85% | 0.67% |
| Other Operating Expenses | -7.68M | 0 | 0 | 0 | 0 |
| Operating Income | -30.91K | -76.56K | -696.75K | 1.41M | 881K |
| Operating Margin % | -90.43% | -0.74% | -5.47% | 6.4% | 5.7% |
| Operating Income Growth % | 59.62% | 89.01% | -149.42% | 60.01% | - |
| EBITDA | -29.1K | 234.81K | -433.06K | 1.49M | 914.37K |
| EBITDA Margin % | -85.13% | 2.28% | -3.4% | 6.77% | 5.91% |
| EBITDA Growth % | -112.39% | 154.22% | -129.04% | 63.1% | - |
| D&A (Non-Cash Add-back) | 1.81K | 311.36K | 263.69K | 81.63K | 33.37K |
| EBIT | -30.35K | -75.85K | -695.44K | 1.22M | 881K |
| Net Interest Income | -16.36K | 44.57K | -102.36K | -79.45K | -81.88K |
| Interest Income | 0 | 44.57K | 0 | 0 | 0 |
| Interest Expense | 16.36K | 0 | 102.36K | 79.45K | 81.88K |
| Other Income/Expense | -15.79K | 226.9K | -19.93K | 42.6K | -27.8K |
| Pretax Income | -46.7K | 150.34K | -716.68K | 1.45M | 853.21K |
| Pretax Margin % | -136.63% | 1.46% | -5.63% | 6.59% | 5.52% |
| Income Tax | 2.7K | 589.68K | -63.95K | 385.96K | 101.54K |
| Effective Tax Rate % | -5.78% | 392.22% | 8.92% | 26.58% | 11.9% |
| Net Income | -49.4K | -439.34K | -652.73K | 1.07M | 751.67K |
| Net Margin % | -144.52% | -4.27% | -5.13% | 4.84% | 4.86% |
| Net Income Growth % | 88.76% | 32.69% | -161.21% | 41.87% | - |
| Net Income (Continuing) | -49.4K | -439.34K | -652.73K | 1.07M | 751.67K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.01 | -0.02 | -0.03 | 0.05 | 0.04 |
| EPS Growth % | 58.94% | 36.5% | -165.73% | 41.71% | - |
| EPS (Basic) | -0.01 | -0.02 | -0.03 | 0.05 | 0.04 |
| Diluted Shares Outstanding | 5.79M | 2.15M | 2M | 2.15M | 2.15M |
| Basic Shares Outstanding | 5.79M | 2.15M | 2M | 2.15M | 2.15M |
| Dividend Payout Ratio | - | - | - | - | - |
Imminent Going Concern Risk
As evidenced by the most recent quarterly filings, LGCB experienced a catastrophic revenue decline to just $10.9K, representing a near-total cessation of commercial activity compared to the $9.0M reported in 2023Q2, suggesting the company's core cross-border e-commerce service model has effectively lost its market viability.
The precipitous drop in top-line performance indicates that the company's niche focus on the Japan-China trade corridor has likely been disrupted by platform policy changes or competitive displacement. Investors should interpret this trend as a fundamental breakdown in the business model rather than a cyclical downturn, as the scale of the decline is unprecedented for an operating entity.
Based on the reported financial statements, LGCB's operating margin plummeted to -186.2% in 2025Q4, demonstrating that the company's fixed cost structure remains entirely misaligned with its current, negligible revenue base, resulting in extreme operating deleverage that threatens the firm's ability to maintain its public listing.
The inability to scale down SG&A expenses in proportion to the revenue collapse suggests a rigid cost structure that is incompatible with the current volume of business. This disparity implies that the company is currently consuming its remaining capital simply to sustain basic corporate overhead, which appears unsustainable without a radical restructuring.
According to recent SEC filings, LGCB's SG&A expenses of $24.9K in the final quarter of 2025 significantly exceeded its total revenue of $10.9K, highlighting a critical failure in expense discipline that has rendered the company's operational cost structure fundamentally unviable in the current low-volume environment.
The persistence of administrative and personnel-related costs despite the near-total evaporation of revenue suggests that management has not successfully pivoted the cost base to reflect the company's diminished scale. This structural imbalance warrants further investigation into whether the company retains any meaningful operational capacity or if it has become a shell entity.
As reported in financial statements, the company's cash reserves have dwindled to a precarious $4,974, a figure that, when viewed alongside persistent operating losses, suggests an imminent liquidity crisis that may force the company into insolvency or necessitate highly dilutive financing to maintain basic operations.
The extreme scarcity of liquid assets relative to the company's ongoing burn rate indicates that LGCB is likely facing a terminal liquidity event. Analysts should monitor for any signs of emergency capital raises or potential delisting, as the current financial position appears insufficient to support the company's ongoing business activities.
Quick answers to the most common questions about buying LGCB stock.
For fiscal year 2025, Linkage Global Inc Ordinary Shares (LGCB) reported total revenue of $0.0M. This represents a 99.8% decline compared to $15.5M in 2021.
Linkage Global Inc Ordinary Shares (LGCB) reported a net loss of $0.0M for the fiscal year ending 2025.
Linkage Global Inc Ordinary Shares (LGCB) reported an operating income of $-0.0M, resulting in an operating profit margin of -90.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Linkage Global Inc Ordinary Shares (LGCB) generated $0.0M in gross profit for the year, representing a gross profit margin of 71.7%. This demonstrates the company's core pricing power and production efficiency.