VSME Forcendra Holding Ltd

Overview and Growth

Fiscal 2025 results for Forcendra Holding Ltd combined $7.52M of revenue with net loss of $8.61M and an operating cash outflow of $3.51M. The $7.52M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $8.25M in fiscal 2024, revenue decreased 8.8%, a top-line contraction that reduced operating scale. The company reported diluted EPS of -$5.20, adding a shareholder-level measure to the absolute income figures considered below. A diluted share base of 1.66M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. The company employed $9.33M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 0.81x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $1.78M as gross profit before recognizing operating expenses and other items. Gross margin was 23.7%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced a $6.43M operating loss before non-operating and tax effects. An operating margin of -85.4% reflected costs exceeding revenue-level gross profit by 85.4% of sales. The company ended the period with a net loss of $8.61M, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 114.5% after all recognized items. The company reported negative EBITDA of $6.41M, adding a pre-interest, tax, depreciation, and amortization view of the operating shortfall. The pretax result was a loss of $8.61M, establishing the deficit before tax effects. Measured against revenue, the pretax deficit represented 114.5%. The loss-to-equity relationship was 208.1%, placing the bottom-line deficit against shareholder capital. The net loss equaled 92.3% of period-end assets, showing the deficit relative to the asset base. The bottom-line deficit increased from $7.29M in fiscal 2024 to $8.61M.

Liquidity and Capital Structure

At period end, the $9.33M asset base was financed through $5.20M of liabilities and $4.14M of equity. Current assets were $7.39M against $5.04M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.47x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $976.09K, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 19.4% of current liabilities, showing how much near-term coverage came from cash alone. The equity-to-assets relationship was 44.3%, placing book capital against the total resource base. Relative to total assets, liabilities measured 55.7%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 10.5%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $7.18M in fiscal 2024, the current asset base moved 29.9% and finished higher. Against $1.28M of equity in fiscal 2024, the current book-equity balance moved 223.3% and ended higher. Compared with $775.25K in fiscal 2024, the current cash balance moved 25.9% and finished higher.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $3.51M, showing that operations absorbed cash during the period. Capital spending of $16.04K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Operating cash flow and capital spending combined to leave a $3.53M cash deficit after capital spending. Relative to revenue, the post-investment cash deficit represented 46.9%. The cash deficit after capital spending represented 37.8% of the period-end asset base. Compared with a $1.49M operating cash outflow in fiscal 2024, the current outflow increased to $3.51M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Nov 4, 2026.