LSH's operating margin remains deeply negative at -118.7% in 2026Q3, reflecting a structural inability to align costs with a volatile revenue base that plummeted 65.1% during the same period.
| Sales/Revenue | 20.75M | 17.79M | 18.32M | 12.87M | 9.61M |
| Revenue Growth % | 27.54% | -2.86% | 42.28% | 34.02% | - |
| Cost of Goods Sold | 14.97M | 14.91M | 14.6M | 10.31M | 7.8M |
| COGS % of Revenue | - | 83.82% | 79.71% | 80.08% | 81.17% |
| Gross Profit | 5.78M | 2.88M | 3.72M | 2.56M | 1.81M |
| Gross Margin % | 27.87% | 16.18% | 20.29% | 19.92% | 18.83% |
| Gross Profit Growth % | - | -22.54% | 44.91% | 41.76% | - |
| Operating Expenses | 10.68M | 7.84M | 4.24M | 2.81M | 1.69M |
| OpEx % of Revenue | - | 44.06% | 23.16% | 21.84% | 17.61% |
| Selling, General & Admin | 10.24M | 7.8M | 3.92M | 2.17M | 1.71M |
| SG&A % of Revenue | - | 43.87% | 21.38% | 16.84% | 17.79% |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | 443.85K | 33.43K | 325.76K | 644K | -17.57K |
| Operating Income | -4.9M | -4.96M | -526.04K | -246.9K | 117.76K |
| Operating Margin % | -23.59% | -27.88% | -2.87% | -1.92% | 1.23% |
| Operating Income Growth % | - | -842.73% | -113.06% | -309.66% | - |
| EBITDA | -4.58M | -4.67M | -350.69K | -84.36K | 222.98K |
| EBITDA Margin % | -22.08% | -26.28% | -1.91% | -0.66% | 2.32% |
| EBITDA Growth % | -51.07% | -1232.95% | -315.7% | -137.83% | - |
| D&A (Non-Cash Add-back) | 209.29K | 284.63K | 175.35K | 162.53K | 105.22K |
| EBIT | -4.4M | -4.96M | -187.61K | 1.13M | 65.79K |
| Net Interest Income | -602.82K | -404.32K | -109.13K | -124.76K | -69.88K |
| Interest Income | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 602.82K | 404.32K | 109.13K | 124.76K | 69.88K |
| Other Income/Expense | -163.2K | 14.91K | 230.43K | 1.26M | -120.65K |
| Pretax Income | -5.06M | -4.94M | -295.61K | 1.01M | -2.89K |
| Pretax Margin % | -24.38% | -27.79% | -1.61% | 7.84% | -0.03% |
| Income Tax | 304.33K | 301.88K | -67.34K | 65.07K | 0 |
| Effective Tax Rate % | -6.02% | -6.11% | 22.78% | 6.45% | 0% |
| Net Income | -5.36M | -5.25M | -225.25K | 740.99K | -2.89K |
| Net Margin % | -25.84% | -29.49% | -1.23% | 5.76% | -0.03% |
| Net Income Growth % | -23.25% | -2229.01% | -130.4% | 25748.56% | - |
| Net Income (Continuing) | -5.36M | -5.25M | -228.28K | 943.73K | -2.89K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | -7.07K | 0 |
| EPS (Diluted) | -0.16 | -0.69 | -0.04 | 0.13 | -0.00 |
| EPS Growth % | 44.28% | -1740% | -128.85% | - | - |
| EPS (Basic) | - | -0.69 | -0.04 | 0.12 | -0.00 |
| Diluted Shares Outstanding | 34.43M | 7.56M | 6M | 7.5M | 7.5M |
| Basic Shares Outstanding | 34.43M | 7.56M | 6M | 7.5M | 7.5M |
| Dividend Payout Ratio | - | - | - | - | - |
Unsustainable operating cash burn
According to the most recent quarterly filings, Lakeside Holding Limited experienced a sharp 65.1% revenue contraction in 2026Q3, highlighting the extreme volatility and lack of durability in its transactional, cross-border freight model as it struggles to maintain consistent volume across its primary trans-Pacific trade lanes.
The erratic revenue swings suggest that the company lacks a stable base of recurring contractual business, leaving it highly susceptible to seasonal fluctuations and shifts in e-commerce demand. This inconsistency complicates long-term planning and suggests that the firm's niche focus on social commerce may be insufficient to drive sustainable top-line growth.
As reported in financial statements, LSH's gross margin profile has demonstrated significant instability, swinging from a negative 1.2% in 2025Q2 to a peak of 73.8% in 2026Q3, which likely reflects the company's inability to consistently pass through volatile carrier costs to its fragmented customer base.
The extreme variance in gross margins indicates that LSH acts as a price-taker with limited leverage over its underlying transportation providers. Investors should monitor whether these margin fluctuations are driven by accounting shifts or genuine operational difficulty in managing the spread between carrier rates and client pricing.
Based on LSH's reported figures, the company's operating margin of -118.7% in 2026Q3 underscores a severe lack of operating leverage, as fixed SG&A expenses continue to dwarf gross profit generation despite the company's attempts to scale its specialized logistics services for the US-China trade corridor.
The persistent inability to cover fixed overhead costs suggests that the current business model is not yet optimized for its existing revenue scale. Without a significant increase in shipment density, the company appears to be trapped in a cycle where overhead costs remain disproportionately high relative to its transactional revenue.
Recent SEC filings reveal that LSH recognized $1.1 million in stock-based compensation during 2026Q3, a figure that significantly exacerbates the reported net loss and raises questions regarding the alignment of management incentives with the company's current distressed financial performance and lack of profitability.
The reliance on equity-based incentives during a period of declining revenue and negative operating margins warrants further investigation by shareholders. This practice appears to be diluting existing equity holders while the core business struggles to achieve a break-even point on an operating basis.
Data from the income statement suggests that LSH faces a critical risk of insolvency, as the company's inability to generate positive operating income, combined with a shrinking revenue base, may necessitate external financing that could further dilute shareholders or increase the firm's debt burden.
Short-sellers would likely focus on the company's inability to achieve consistent profitability despite its niche positioning in the logistics market. The combination of high SG&A and volatile gross margins suggests that the current operational structure may be fundamentally unsuited for the competitive realities of the trans-Pacific freight industry.
Quick answers to the most common questions about buying LSH stock.
For fiscal year 2025, Lakeside Holding Limited (LSH) reported total revenue of $17.8M. This represents a 85.2% increase compared to $9.6M in 2022.
Lakeside Holding Limited (LSH) reported a net loss of $5.2M for the fiscal year ending 2025.
Lakeside Holding Limited (LSH) reported an operating income of $-5.0M, resulting in an operating profit margin of -27.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Lakeside Holding Limited (LSH) generated $2.9M in gross profit for the year, representing a gross profit margin of 16.2%. This demonstrates the company's core pricing power and production efficiency.