Revenue plummeted from $545.3K in 2024Q4 to $266.1K in 2025Q2, while the company continues to report deeply negative gross margins of -3.5%.
| Sales/Revenue | 811.41K | 1.29M | 1.45M | 153.4K |
| Revenue Growth % | - | -10.87% | 846.96% | - |
| Cost of Goods Sold | 5.74M | 5.59M | 26.95M | 137.04K |
| COGS % of Revenue | - | 432.03% | 1854.98% | 89.33% |
| Gross Profit | -4.93M | -4.3M | -25.49M | 16.36K |
| Gross Margin % | -607.2% | -332.03% | -1754.98% | 10.67% |
| Gross Profit Growth % | - | 83.14% | -155922.41% | - |
| Operating Expenses | 5.09M | 6.64M | 35.78M | 8.51M |
| OpEx % of Revenue | - | 512.71% | 2463.02% | 5548.73% |
| Selling, General & Admin | 4.71M | 4.39M | 33.26M | 6.24M |
| SG&A % of Revenue | - | 339.3% | 2289.34% | 4069.48% |
| Research & Development | 376.26K | 229.43K | 514.43K | 267.1K |
| R&D % of Revenue | - | 17.72% | 35.41% | 174.12% |
| Other Operating Expenses | 0 | 2.02M | 2.01M | 2M |
| Operating Income | -10.02M | -10.94M | -61.27M | -8.5M |
| Operating Margin % | -1234.37% | -844.74% | -4218% | -5538.07% |
| Operating Income Growth % | - | 82.15% | -621.24% | - |
| EBITDA | -8.03M | -8.92M | -59.27M | -6.49M |
| EBITDA Margin % | -989.08% | -689.05% | -4079.73% | -4232.93% |
| EBITDA Growth % | - | 84.95% | -812.68% | - |
| D&A (Non-Cash Add-back) | 1.99M | 2.02M | 2.01M | 2M |
| EBIT | -10.55M | -11.38M | -60.89M | -8.51M |
| Net Interest Income | -530.49K | -690.92K | -480.97K | -259.81K |
| Interest Income | 0 | 0 | 0 | 0 |
| Interest Expense | 530.49K | 690.92K | 480.97K | 259.81K |
| Other Income/Expense | -1.06M | -1.14M | -97.71K | -274.27K |
| Pretax Income | -11.08M | -12.07M | -61.37M | -8.77M |
| Pretax Margin % | -1365.27% | -932.6% | -4224.73% | -5716.86% |
| Income Tax | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% |
| Net Income | -11.08M | -12.07M | -61.37M | -8.77M |
| Net Margin % | -1365.27% | -932.6% | -4224.73% | -5716.86% |
| Net Income Growth % | - | 80.32% | -599.8% | - |
| Net Income (Continuing) | -11.08M | -12.07M | -61.37M | -8.77M |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| EPS (Diluted) | - | -0.53 | -2.59 | -0.38 |
| EPS Growth % | - | 79.54% | -581.58% | - |
| EPS (Basic) | - | -0.53 | -2.59 | -0.38 |
| Diluted Shares Outstanding | 23.29M | 23.29M | 23.29M | 23.29M |
| Basic Shares Outstanding | 23.29M | 23.29M | 23.29M | 23.29M |
| Dividend Payout Ratio | - | - | - | - |
Imminent liquidity exhaustion
As indicated by the most recent financial disclosures, WSHP's revenue has experienced a significant decline, dropping from $545.3K in 2024Q4 to $266.1K in 2025Q2, suggesting that the company is struggling to maintain its operational footprint or user engagement within its target niche markets.
The sharp reduction in top-line performance implies that the company's value proposition is failing to gain traction or is being eroded by competitive pressures. Investors should monitor whether this trend represents a strategic pivot or a fundamental inability to scale the business model in its current geographic focus.
Based on reported figures, WSHP's gross margin profile remains deeply negative, with the company spending significantly more on service delivery than it generates in revenue, a trend that highlights a fundamentally unsustainable unit economic model that lacks any clear path toward achieving positive contribution margins.
The persistent negative gross margin suggests that the company is effectively subsidizing every transaction, which is not a viable long-term strategy for a platform-based business. This structural imbalance warrants further investigation into whether the cost of revenue includes excessive driver incentives that the company cannot afford to maintain.
According to the latest income statement data, WSHP's operating expenses continue to dwarf gross profit, resulting in an operating loss of $3.3M in 2025Q2, which demonstrates a complete lack of operating leverage and an inability to scale the business without incurring massive, unsustainable losses.
The company's inability to control SG&A and R&D relative to its shrinking revenue base suggests that management has yet to find an efficient way to operate the platform. This lack of discipline appears to be accelerating the depletion of the company's already limited cash reserves.
As reported in financial statements, the company's cash position of $28,066 against quarterly operating losses of $3.3M suggests an imminent liquidity crisis, indicating that the firm may be unable to sustain its current operations without immediate and highly dilutive external financing or a total restructuring.
Short-sellers would likely focus on the extreme disparity between the company's cash burn and its available liquidity, which points to a high probability of a terminal event. The lack of debt on the balance sheet appears less like a strategic choice and more like a reflection of the company's inability to access capital markets.
Quick answers to the most common questions about buying WSHP stock.
For fiscal year 2024, WeShop Holdings Limited Class A Ordinary Shares (WSHP) reported total revenue of $1.3M. This represents a 744.0% increase compared to $0.2M in 2022.
WeShop Holdings Limited Class A Ordinary Shares (WSHP) reported a net loss of $12.1M for the fiscal year ending 2024.
WeShop Holdings Limited Class A Ordinary Shares (WSHP) reported an operating income of $-10.9M, resulting in an operating profit margin of -844.7%. This margin reflects the operational efficiency of the business before interest and taxes.
WeShop Holdings Limited Class A Ordinary Shares (WSHP) generated $-4.3M in gross profit for the year, representing a gross profit margin of -332.0%. This demonstrates the company's core pricing power and production efficiency.