Revenue volatility and operational inefficiency have driven the company into a net loss of $39.8 million, with gross margins collapsing to -2.0% in 2026Q2.
| Sales/Revenue | 432.44M | 378.17M | 32.2M | 10.78M | 144.15M | 73.04M |
| Revenue Growth % | -1.36% | 1074.3% | 198.8% | -92.52% | 97.36% | - |
| Cost of Goods Sold | 376.25M | 318.11M | 24.64M | 7.84M | 107.22M | 61.99M |
| COGS % of Revenue | - | 84.12% | 76.5% | 72.75% | 74.38% | 84.87% |
| Gross Profit | 56.19M | 60.06M | 7.57M | 2.94M | 36.93M | 11.05M |
| Gross Margin % | 12.99% | 15.88% | 23.5% | 27.25% | 25.62% | 15.13% |
| Gross Profit Growth % | - | 693.64% | 157.67% | -92.05% | 234.19% | - |
| Operating Expenses | 76.46M | 50.29M | 3.97M | 1.74M | 13.45M | 5.97M |
| OpEx % of Revenue | - | 13.3% | 12.31% | 16.11% | 9.33% | 8.17% |
| Selling, General & Admin | 52.78M | 21.91M | 3.29M | 1.52M | 3.54M | 2.11M |
| SG&A % of Revenue | - | 5.79% | 10.21% | 14.08% | 2.45% | 2.89% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 28.38M | 676.12K | 218.8K | 9.92M | 3.86M |
| Operating Income | -20.27M | 9.77M | 3.6M | 1.2M | 23.49M | 5.08M |
| Operating Margin % | -4.69% | 2.58% | 11.19% | 11.14% | 16.3% | 6.96% |
| Operating Income Growth % | - | 171.21% | 200.12% | -94.89% | 362.33% | - |
| EBITDA | -12.28M | 15.28M | 4.22M | 1.38M | 23.5M | 5.08M |
| EBITDA Margin % | -2.84% | 4.04% | 13.11% | 12.78% | 16.3% | 6.96% |
| EBITDA Growth % | -121.46% | 262.01% | 206.58% | -94.14% | 362.28% | - |
| D&A (Non-Cash Add-back) | 7.99M | 5.51M | 619.52K | 176.77K | 4.33K | 1.56K |
| EBIT | -19.13M | 11.56M | 3.44M | 1.23M | 3.02M | 733.9K |
| Net Interest Income | -3.73M | -1.65M | -159.92K | -28.09K | -21.01K | -1.48K |
| Interest Income | 1.05M | 1.04M | 30.07K | 0 | 478 | 7 |
| Interest Expense | 4.77M | 2.69M | 190K | 28.09K | 21.49K | 1.48K |
| Other Income/Expense | -9.99M | -897.52K | -351.6K | 5.98K | -165.41K | 596.73K |
| Pretax Income | -30.25M | 8.87M | 3.25M | 1.21M | 23.33M | 5.68M |
| Pretax Margin % | -7% | 2.35% | 10.09% | 11.19% | 16.18% | 7.77% |
| Income Tax | 10.16M | 6.43M | 742.03K | 254.5K | 534.81K | 151.42K |
| Effective Tax Rate % | -33.58% | 72.49% | 22.83% | 21.1% | 2.29% | 2.67% |
| Net Income | -31.99M | 7.87M | 2.53M | 1.49M | 2.46M | 580.99K |
| Net Margin % | -7.4% | 2.08% | 7.84% | 13.84% | 1.71% | 0.8% |
| Net Income Growth % | -180.11% | 211.62% | 69.25% | -39.39% | 323.74% | - |
| Net Income (Continuing) | -40.41M | 2.44M | 2.51M | 951.72K | 19.16M | 4.5M |
| Discontinued Operations | 0 | 0 | 0 | 527.38K | 0 | 0 |
| Minority Interest | 153.5M | -5.66M | -233.34K | -101.88K | 0 | 0 |
| EPS (Diluted) | -0.51 | 0.13 | 0.04 | 0.02 | 0.04 | 0.01 |
| EPS Growth % | -176.78% | 208.79% | 69.08% | -36.8% | - | - |
| EPS (Basic) | - | 0.13 | 0.04 | 0.02 | 0.04 | 0.01 |
| Diluted Shares Outstanding | 62.44M | 62.44M | 60M | 60M | 62.5M | 62.5M |
| Basic Shares Outstanding | 62.44M | 62.44M | 60M | 60M | 62.5M | 62.5M |
| Dividend Payout Ratio | - | - | - | - | 434.62% | 1376.95% |
Project-based revenue volatility
As evidenced by the most recent quarterly data, RITR's revenue has experienced a sharp contraction of 71.4% year-over-year, signaling that the previous periods of rapid expansion were likely driven by non-recurring project milestones rather than a sustainable, long-term growth trajectory in the logistics infrastructure market.
The dramatic swing from triple-digit growth in early 2025 to a significant revenue decline in 2026Q2 suggests that the company's business model is highly sensitive to the timing of large-scale construction contracts. Investors should interpret this volatility as a sign that the firm lacks a recurring revenue base, making future performance difficult to forecast with any degree of certainty.
Based on the latest financial disclosures, the company's gross margin has plummeted into negative territory at -2.0%, indicating that the cost of services provided now exceeds the revenue generated, which suggests a fundamental breakdown in project pricing power or severe cost overruns on active construction sites.
The transition from healthy double-digit margins in 2024 to negative margins in 2026Q2 implies that the company is struggling to manage its variable cost structure effectively. This deterioration warrants further investigation into whether the firm is being forced to accept lower-margin contracts to maintain market presence or if inflationary pressures on specialized materials are eroding profitability.
According to the reported income statement, RITR's operating margin has collapsed to -54.2%, demonstrating that the company's fixed SG&A expenses are now exerting significant downward pressure on the bottom line as revenue volumes fail to cover the underlying cost of operations.
The inability to scale operating income alongside revenue suggests that the company's administrative overhead is disproportionately high relative to its current project pipeline. This lack of operating leverage indicates that the firm may be over-resourced for its current level of activity, creating a high-risk environment where minor revenue fluctuations lead to outsized losses.
As reported in recent financial statements, the company's net income has swung to a loss of $39.8 million, a development that highlights the fragility of the firm's earnings quality when project-based revenue streams fail to materialize or are delayed by external market conditions.
The shift from profitability to substantial net losses suggests that the company's earnings are highly susceptible to project-specific risks rather than operational efficiency. Investors should monitor whether these losses are indicative of structural impairments or merely temporary accounting adjustments related to the percentage-of-completion method used for large-scale engineering contracts.
The current financial data suggests that the company's reliance on large, lumpy construction projects creates a precarious risk profile, as the recent 71.4% revenue decline demonstrates that the firm lacks the defensive characteristics necessary to withstand cyclical downturns in the industrial real estate sector.
Short-sellers would likely focus on the rapid transition from growth to significant losses as evidence that the company's 'Logtech' branding may be masking a traditional, low-margin construction business. The lack of consistent profitability suggests that the company may face liquidity challenges if the current trend of negative operating cash flow persists without a significant recovery in contract wins.
Quick answers to the most common questions about buying RITR stock.
For fiscal year 2025, Reitar Logtech Holdings Limited Ordinary shares (RITR) reported total revenue of $378.2M. This represents a 417.8% increase compared to $73.0M in 2021.
Reitar Logtech Holdings Limited Ordinary shares (RITR) is profitable, generating $7.9M in net income for the fiscal year ending 2025 with a net profit margin of 2.1%.
Reitar Logtech Holdings Limited Ordinary shares (RITR) reported an operating income of $9.8M, resulting in an operating profit margin of 2.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Reitar Logtech Holdings Limited Ordinary shares (RITR) generated $60.1M in gross profit for the year, representing a gross profit margin of 15.9%. This demonstrates the company's core pricing power and production efficiency.