Revenue volatility has intensified, evidenced by a negative $34.6M figure in 2026Q1, while structural 100% gross margins mask the underlying instability of the firm's investment-holding business model.
| Sales/Revenue | -34.74M | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | -34.74M | -1.01M | 3.57M | 2.02M | 3.32M | 5.23M | 1.3M |
| Gross Margin % | 100% | 100% | 99.99% | 96.28% | 94.43% | 99.82% | 100% |
| Gross Profit Growth % | - | -128.25% | 76.62% | -39.13% | -36.54% | 303.12% | - |
| Operating Expenses | 302.53M | 266.09M | 1.98M | 3.64M | 3.2M | 1.35M | 733.72K |
| OpEx % of Revenue | - | -26389.5% | 55.35% | 173.48% | 91.11% | 25.67% | 56.54% |
| Selling, General & Admin | 202.83M | 0 | 992.27K | 1.72M | 2.19M | 722.35K | 733.72K |
| SG&A % of Revenue | - | - | 27.8% | 82.14% | 62.25% | 13.78% | 56.54% |
| Research & Development | 0 | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - | - | - | - |
| Operating Income | -337.28M | -267.1M | 1.59M | -1.62M | 116.61K | 3.89M | 563.92K |
| Operating Margin % | 970.75% | 26489.5% | 44.64% | -77.2% | 3.32% | 74.15% | 43.46% |
| Operating Income Growth % | - | -16865.07% | 198.34% | -1489.35% | -97% | 589.06% | - |
| EBITDA | -274.2M | -264.21M | 1.59M | -1.62M | 116.61K | 3.89M | 565.99K |
| EBITDA Margin % | 789.2% | 26203.14% | 44.64% | -77.2% | 3.32% | 74.15% | 43.62% |
| EBITDA Growth % | -17172.48% | -16683.83% | 198.34% | -1489.35% | -97% | 586.54% | - |
| D&A (Non-Cash Add-back) | 63.66M | 0 | 0 | 0 | 0 | 0 | 2.07K |
| EBIT | -337.86M | -264.21M | 1.59M | -1.62M | 116.61K | 3.89M | 561.85K |
| Net Interest Income | 3.84M | 8.03M | 3.3M | 3.22M | 4M | 2.65M | 0 |
| Interest Income | 3.84M | 8.03M | 3.3M | 3.3M | 4.2M | 2.66M | 0 |
| Interest Expense | 0 | 0 | 320 | 78K | 195.89K | 9.51K | 0 |
| Other Income/Expense | 0 | - | - | - | - | - | - |
| Pretax Income | -335.72M | -264.21M | 1.59M | -1.62M | 116.61K | 3.89M | 2.5M |
| Pretax Margin % | 966.26% | 26203.14% | 44.64% | -77.2% | 3.32% | 74.15% | 192.81% |
| Income Tax | 634.44K | 743.44K | 425.45K | -454.55K | 9.65K | 1.05M | 288.4K |
| Effective Tax Rate % | -0.19% | -0.28% | 26.7% | 28.06% | 8.27% | 27.14% | 11.53% |
| Net Income | -336.35M | -264.94M | 1.17M | -1.17M | 106.96K | 2.83M | 2.21M |
| Net Margin % | 968.08% | 26275.39% | 32.72% | -55.54% | 3.04% | 54.02% | 170.58% |
| Net Income Growth % | -27282.81% | -22788.39% | 200.19% | -1189.69% | -96.22% | 27.9% | - |
| Net Income (Continuing) | -336.35M | -264.95M | 1.17M | -1.17M | 106.96K | 2.83M | 2.21M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -4.17 | -6.59 | 0.18 | -0.19 | 0.02 | 0.59 | 0.46 |
| EPS Growth % | -2457.37% | -3761.11% | 194.74% | -1050% | -96.61% | 28.26% | - |
| EPS (Basic) | - | -6.59 | 0.18 | -0.19 | 0.02 | 0.59 | 0.46 |
| Diluted Shares Outstanding | 80.68M | 40.21M | 6.49M | 6.25M | 5.33M | 4.8M | 4.83M |
| Basic Shares Outstanding | 80.68M | 40.21M | 6.39M | 6.25M | 5.33M | 4.8M | 4.92M |
| Dividend Payout Ratio | - | - | - | - | - | 57.16% | - |
Asset valuation volatility
As reported in recent financial filings, SUIG's revenue trajectory has shifted from modest operational gains to significant negative figures, with a 2026Q1 revenue of -$34.6M, highlighting the company's transition toward a volatile, mark-to-market investment model rather than a traditional service-based revenue stream.
The shift into negative revenue territory suggests that the company's financial performance is now tethered to the valuation of its digital asset holdings rather than operational activity. Investors should monitor whether this trend persists as the company attempts to pivot its business model, as the current trajectory indicates extreme sensitivity to external market conditions.
Based on the provided income statement data, SUIG maintains a consistent 100% gross margin, which is a structural artifact of its investment-holding nature rather than an indicator of pricing power or competitive advantage in the capital markets sector.
While the 100% gross margin appears favorable, it masks the underlying lack of a traditional cost of goods sold, rendering standard margin analysis less meaningful. The extreme fluctuations in operating margins, which reached 84.4% in 2025Q4 before collapsing, suggest that the company's profitability is currently driven by non-operating adjustments rather than core business efficiency.
According to historical income statements, SUIG experienced a massive spike in SG&A expenses to $198.8M in 2025Q4, indicating that the company's transition to a SUI-focused treasury model is incurring significant, potentially non-recurring, professional and compliance-related costs.
The sudden surge in operating expenses suggests that the company is absorbing substantial costs to facilitate its strategic pivot, which may weigh heavily on the bottom line in the near term. Analysts should investigate whether these costs represent a permanent increase in the company's burn rate or if they are one-time expenses associated with the rebranding and regulatory realignment.
As evidenced by the 2026Q1 net loss of $70.9M, the company's reliance on asset appreciation creates a precarious financial profile where the lack of recurring revenue leaves the firm vulnerable to sustained downturns in the Sui blockchain ecosystem.
Short-term observers may argue that the company's current financial structure lacks the necessary diversification to survive a prolonged crypto market contraction. The reliance on mark-to-market gains suggests that without a pivot to fee-generating services, the company may continue to face significant earnings volatility that could erode its $21.9M cash position.
Quick answers to the most common questions about buying SUIG stock.
SUI Group Holdings Limited (SUIG) reported a net loss of $264.9M for the fiscal year ending 2025.
SUI Group Holdings Limited (SUIG) reported an operating income of $-267.1M, resulting in an operating profit margin of 26489.5%. This margin reflects the operational efficiency of the business before interest and taxes.
SUI Group Holdings Limited (SUIG) generated $-1.0M in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.