Structural margin instability is evident as gross margins swung from 100% in 2024Q4 to a negative 4.7% in 2026Q1, reflecting a lack of a stable product foundation.
| Sales/Revenue | 2.63M | 2.91M | 3.53M | 0 | 0 | 0 | 0 |
| Revenue Growth % | 355.01% | -17.69% | - | - | - | - | - |
| Cost of Goods Sold | 4.47M | 2.31M | 2.72M | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | 79.6% | 77.02% | - | - | - | - |
| Gross Profit | -1.84M | 592.9K | 811.24K | 0 | 0 | 0 | 0 |
| Gross Margin % | -70.05% | 20.4% | 22.98% | - | - | - | - |
| Gross Profit Growth % | - | -26.91% | - | - | - | - | - |
| Operating Expenses | 17.24M | 18.93M | 12.5M | 1.83M | 35.39K | 3.31K | 23.81K |
| OpEx % of Revenue | - | 651.42% | 354.17% | - | - | - | - |
| Selling, General & Admin | 14.6M | 9.19M | 2.54M | 1.83M | 35.39K | 3.31K | 23.81K |
| SG&A % of Revenue | - | 316.29% | 71.84% | - | - | - | - |
| Research & Development | 343.24K | 318.45K | 161.16K | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 10.96% | 4.56% | - | - | - | - |
| Other Operating Expenses | 946.47K | 9.42M | 9.81M | 0 | 0 | 0 | 0 |
| Operating Income | -19.09M | -18.34M | -11.69M | -1.83M | -35.39K | -3.31K | -23.81K |
| Operating Margin % | -726.07% | -631.01% | -331.2% | - | - | - | - |
| Operating Income Growth % | - | -56.82% | -538.57% | -5074.07% | -969.77% | 86.11% | - |
| EBITDA | -9.63M | -9.03M | -2M | 944K | 193.1K | 233.25K | 182.49K |
| EBITDA Margin % | -366.23% | -310.75% | -56.68% | - | - | - | - |
| EBITDA Growth % | -256.55% | -351.28% | -311.96% | 388.87% | -17.21% | 27.82% | - |
| D&A (Non-Cash Add-back) | 9.46M | 9.31M | 9.69M | 2.77M | 228.49K | 236.56K | 206.3K |
| EBIT | -20.71M | -28.38M | -11.84M | 944.59K | -35.39K | -3.31K | -23.81K |
| Net Interest Income | -443.98K | -442.31K | 1.41M | 2.78M | 0 | 0 | 0 |
| Interest Income | 77.04K | 63.88K | 1.45M | 2.78M | 0 | 0 | 0 |
| Interest Expense | 521.02K | 506.2K | 43.01K | 0 | 0 | 0 | 0 |
| Other Income/Expense | -2.33M | -10.55M | -200.48K | 2.77M | 0 | 0 | 0 |
| Pretax Income | -21.42M | -28.89M | -11.89M | 944.59K | -35.39K | -3.31K | -23.81K |
| Pretax Margin % | -814.7% | -994.16% | -336.87% | - | - | - | - |
| Income Tax | -452.31K | -1.83M | -1.56M | 540.81K | 0 | 0 | 0 |
| Effective Tax Rate % | 2.11% | 6.33% | 13.15% | 57.25% | 0% | 0% | 0% |
| Net Income | -13.8M | -18.01M | -10.33M | 403.78K | -35.39K | -3.31K | -23.81K |
| Net Margin % | -525.08% | -619.82% | -292.58% | - | - | - | - |
| Net Income Growth % | -66.93% | -74.37% | -2658.05% | 1241.01% | -969.77% | 86.11% | - |
| Net Income (Continuing) | -20.96M | -27.06M | -10.33M | 403.78K | -35.39K | -3.31K | -23.81K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 23.53M | 49.4M | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -3.08 | -4.02 | -0.54 | 0.07 | -0.00 | -0.00 | -0.00 |
| EPS Growth % | 9.47% | -644.44% | -852.09% | - | - | - | - |
| EPS (Basic) | - | -4.02 | -0.54 | 0.07 | -0.00 | -0.00 | -0.00 |
| Diluted Shares Outstanding | 4.48M | 4.48M | 4.48M | 7.72M | 9.05M | 7.93M | 7.89M |
| Basic Shares Outstanding | 4.48M | 4.48M | 4.48M | 7.69M | 9.05M | 7.93M | 7.89M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Insufficient liquidity for operations
As reported in recent financial filings, OSRH's revenue trajectory remains erratic, characterized by a 36.4% year-over-year decline in 2026Q1 and a lack of consistent growth, which suggests the company has yet to establish a repeatable commercial model following its transition from a blank check entity.
The absence of a clear, upward revenue trend indicates that the company's current offerings are likely transactional rather than foundational. Investors should monitor whether the firm can pivot toward a sustainable revenue stream, as the current top-line performance appears insufficient to support its ongoing clinical development costs.
Based on OSRH's reported figures, gross margins have fluctuated wildly, swinging from 100% in 2024Q4 to negative 4.7% in 2026Q1, highlighting the extreme difficulty in maintaining cost control within a business model that lacks a stable, high-margin product or service foundation.
This volatility suggests that the company's direct costs are not well-aligned with its revenue generation, potentially due to the sporadic nature of its legacy operations. Without a consistent margin profile, the firm remains highly susceptible to operational shocks that could further erode its limited capital base.
According to the company's income statement data, OSRH continues to exhibit significant operating losses, with an operating margin of -631.01% in recent periods, suggesting that administrative and research overheads are scaling far beyond the company's ability to generate meaningful top-line revenue to offset these expenses.
The persistent gap between operating expenses and revenue implies that the company is currently in a high-burn phase with little evidence of operational efficiency. Investors should be wary of the lack of scalability, as the current cost structure appears to be a structural burden rather than a temporary investment.
As indicated by the provided financial statements, OSRH's SG&A expenses frequently dwarf its R&D spending, which suggests that the company's cost structure is heavily weighted toward administrative maintenance rather than the aggressive clinical development required to validate its therapeutic pipeline and drive future value.
This allocation of capital warrants further investigation, as it may indicate that the firm is prioritizing corporate survival over the advancement of its core biotechnology assets. Such a cost structure appears suboptimal for a company that must reach critical clinical milestones to justify its ongoing existence.
Based on the reported figures, the combination of a -631.01% operating margin and a minimal cash balance of $1.7M suggests that OSRH faces a severe liquidity risk, which may necessitate highly dilutive financing or a complete restructuring to avoid a total depletion of capital.
Short-sellers would likely focus on the company's inability to generate cash and its reliance on external funding in a challenging biotech environment. The lack of a clear path to profitability implies that the current valuation may be disconnected from the underlying reality of the firm's financial runway.
Quick answers to the most common questions about buying OSRH stock.
For fiscal year 2025, OSR Holdings, Inc. (OSRH) reported total revenue of $2.9M.
OSR Holdings, Inc. (OSRH) reported a net loss of $18.0M for the fiscal year ending 2025.
OSR Holdings, Inc. (OSRH) reported an operating income of $-18.3M, resulting in an operating profit margin of -631.0%. This margin reflects the operational efficiency of the business before interest and taxes.
OSR Holdings, Inc. (OSRH) generated $0.6M in gross profit for the year, representing a gross profit margin of 20.4%. This demonstrates the company's core pricing power and production efficiency.