GSIW Garden Stage Ltd

Overview and Growth

Fiscal 2026 results for Garden Stage Ltd combined $7.28M of revenue with net loss of $13.84M and an operating cash outflow of $4.23M. The $7.28M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 33.2% from $5.47M in fiscal 2025, increasing the company’s operating scale. Diluted earnings per share were $1.38, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS increased by 193.6% from $0.47 in fiscal 2025, showing how the earnings change reached shareholders on a per-share basis. The diluted weighted-average share count was 10.00M, linking total earnings with the per-share result received by shareholders. Diluted shares moved 7.7% from 9.28M in fiscal 2025, leaving the current share base higher year over year. The company employed $41.93M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 0.17x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The company ended the period with a net loss of $13.84M, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 190.1% after all recognized items. The pretax result was a loss of $13.86M, establishing the deficit before tax effects. The pretax loss equaled 190.4% of revenue, measuring the pre-tax deficit against sales. The reported tax benefit was $22.79K, favorably bridging the pretax and after-tax results. Relative to period-end equity, the net loss represented 57.1%. Relative to total assets, the net loss represented 33.0%. The net loss widened to $13.84M from $4.32M in fiscal 2025.

Liquidity and Capital Structure

Total assets were $41.93M, supported by $17.70M of liabilities and $24.22M of shareholder equity. At period end, current assets of $30.50M compared with current liabilities of $17.70M, defining the company’s short-term resource position. The current ratio was 1.72x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $17.52M in cash and equivalents, a narrower liquidity measure than total current assets. Measured only with cash and equivalents, coverage of current liabilities was 99.0%, excluding receivables and other current assets. Book equity represented 57.8% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 42.2%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 41.8% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 163.7% higher than fiscal 2025 assets of $15.90M, measuring the company’s own balance-sheet change. Book equity was 261.4% higher than fiscal 2025 equity of $6.70M, showing how shareholder capital changed year over year. The reported cash balance changed 122.2% from $7.89M in fiscal 2025, ending higher year over year.

Cash Flow and Earnings Quality

Operating activities used $4.23M of cash, resulting in an operating cash outflow for the year. Cash absorbed by operations increased from $1.15M in fiscal 2025 to $4.23M.

Based on the annual report for the fiscal year ending Mar 31, 2026. Analysis generated Oct 21, 2026.