Akso Health Group financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Akso Health Group files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	29.6	123	82.6	6.96	1.77	6.31	13.2	2.41	14.8	13.8
Cost of revenue	5.15	8.5	7.4	1.03	0.54	5.39	11.9	2.29	15.1	13.8
Gross profit	22.9	107	75.2	6.91	1.75	0.61	1.27	0.12	-0.28	-0.01
Research and development	1.57	2.82	0	0.12	0.44	0.42
Selling, general and administrative								8.59	3.64	3.99
Selling and marketing	5.21	15.2	1.17	1.46	1.09	0.24	0.01	0.17
General and administrative	2.65	5.82	3.13	20.5	2.03	2.67	15.5	8.59	3.64	3.99
Operating expenses	13	31.4		55	4.24	3.87	15.5	8.76	166	20.7
Operating income	9.91	75.9	-7.19	-48.1	-4.24	-3.26	-14.3	-8.64	-166	-20.7
Interest expense					2.15	0.8
Other non-operating income	0.18	0.66	0.38	1.23	-0.05	-0.75	1.2	-0.45	0.03	-0
Pre-tax income	10.1	76.5	-6.81	-46.9	-4.29	-4.01	-13.1	-9.09	-166	-20.7
Income tax	1.52	11	0.81	0.49	0.48	0.09	0.02	0.02	-30.8	-1.99
Income from continuing operations				-47.4	-4.29	-4.1	-13.1	-9.12	-135	-18.7
Net income to minority interests		0.03				0	0.11	-0.06	-0.49	-0.04
Net income	8.57	65.5	5.53	-71.2	-34.8	-16.9	-1.36	-9.46	-135	-18.7
EBITDA	10	76	-7.17	-48	-4.23	-3.24			-164	-18.3
EPS, basic	0.20	1.46	0.11	-1.46	-0.71	-0.28	-0.02	0.07	0.16	0.01
EPS, diluted	0.20	1.37	0.10	-1.46	-0.71	-0.28	-0.02	0.07	0.16	0.01
Shares, basic (weighted)	42.3	45	48.7	48.8	48.8	59.6	68.6	142	855	2,168
Shares, diluted (weighted)	42.3	47.7	52.9	48.8	48.8	59.6	68.6	142	855	2,168

Balance sheet

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	19.2	133	57.4	6.67	15.1	18.4	7.92	85.2	176	0.17
Receivables		0	0.14				7.7		0.95	1.28
Inventory						7.8	1.69	0.19	0.19	0.2
Other current assets		1.25	3.33	0.43	0.6	0.18	0.27	0.4	6.81	12.2
Total current assets		163	97.7	52	30.1	62.8	20.5	142	196	190
Property, plant and equipment	0.43	0.77	1.25	0.09	0.07	0.06			0.02	0.01
Lease right-of-use assets				0.67	0				0.1	0.02
Goodwill									10.8
Intangible assets									7.88	0.06
Total assets	28.4	164	173	80.5	31.7	62.8	20.5	142	215	190
Accrued liabilities	0.71	2.04	1.02	0.34	0.29	0.11
Deferred revenue			0.11	0.12			0.19	0.42	10.2	4.41
Total current liabilities		23.8	26.6	12.4	14.4	50.5	11.6	3.59	13.8	8.71
Long-term debt			20	20
Lease liabilities				0.01					0.04	0
Total liabilities	4.88	23.8	46.8	32.4	14.4	50.5	11.6	3.59	15.8	8.71
Paid-in capital	13.3	58.4	59.8	60.6	60.6	71	71	210	406	406
Retained earnings	11.8	77.2	69.8	-1.43	-36.3	-53.1	-54.5	-63.9	-199	-218
Treasury stock			-1.32	-3.99	-3.99	-3.99	-3.99	-3.99	-3.99	-3.99
Other comprehensive income	-1.54	4.38	-1.76	-7.05	-3.1	-1.65	-3.85	-4.09	-3.77	-3.28
Shareholders' equity	23.5	140	127	48.1	17.3	12.3	8.73	138	199	181
Minority interests						0	0.11	0.06	0.03	-0.01
Total equity	23.5	140	127	48.1	17.3	12.3	8.84	138	199	181
Total liabilities and equity	28.4	164	173	80.5	31.7	62.8	20.5	142	215	190
Shares outstanding	42.9	48	49.2	48.8	48.9	68.6	68.6	437	1,656

Cash flow statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	8.57	65.5	5.53	-71.2	-34.8	-16.8	-1.25	-9.52	-135	-18.7
Depreciation and amortization	0.09	0.17	0.02	0.12	0.02	0.02			2.15	2.37
Stock-based compensation	0	1.83	6.59	0.35	0.06	0.39
Deferred income tax	0.14	0.42	-0.05	0.04					-30.8	-1.99
Change in inventory						-7.8	6.11	1.5
Change in payables	-2.56	2.46	-0.47	-0.34	-0.04	0.15	0.71	0.17	0.42	0.31
Cash from operations	8.19	87.7	-1.73	-58.3	10.1	-8.63	-3.25	1.35	1.18	-12.8
Capital expenditures	-0.29	-0.46	-0.01	-0.2		-0			-0.15	-0
Acquisitions								-56.3	-93.8
Cash from investing	-0.29	-27.6	-68.1	12.8	-0	-20	18.5	-54.7	-106	-163
Debt repaid					-10	-10
Stock issued			1.16	0.28	0
Share buybacks			-1.32	-2.67
Dividends paid			-19.5
Cash from financing	4.29	47.5	-0.03	-1.55	-9.04	34.8	-27.5	132	196	0.35
Exchange rate effect	-0.78	5.77
Net change in cash	11.4	113	-75.3	-46.4	4.2	6.8	-12.7	77	90	-176
Free cash flow	7.9	87.3	-1.74	-58.5		-8.63			1.02	-12.8
Interest paid				2.41	2.11	0.68	0.34	0.11
Income taxes paid	0.3	1.02	12.2	3.21	2.11	0.68	0.34	0.02	0	0

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $0.75 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	-0.1%	Gross profit / revenue.
Operating margin	-149.7%	Operating income / revenue.
EBITDA margin	-132.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-149.7%	Pre-tax income / revenue.
Net margin	-135.0%	Net income / revenue.
FCF margin	-92.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-92.5%	Cash from operations / revenue.
Return on equity (ROE)	-9.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-9.2%	Net income / average total assets.
Return on invested capital (ROIC)	-16.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	28.8%	Selling, general and administrative expense / revenue.
Capex / revenue	0.0%	Capital expenditures / revenue.
D&A / revenue	17.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-6.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	50.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-93.8%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-1,187.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-1,351.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-9.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	174.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	60.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-11.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	110.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	43.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	153.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	216.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	113.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	21.8x	Current assets / current liabilities.
Quick ratio	0.17x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.02x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	4.6%	Total liabilities / total assets.
Working capital	$180.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$180.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.07x	Revenue / average total assets.
Fixed asset turnover	982x	Revenue / average property, plant and equipment.
Inventory turnover	70.9x	Cost of revenue / average inventory.
Days inventory	5 days	365 x average inventory / cost of revenue.
Receivables turnover	12.4x	Revenue / average receivables.
Days sales outstanding	29 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.01	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$0.01	Net income per basic share, as reported (split-adjusted).
Revenue per share	$0.01	Revenue / diluted weighted shares.
FCF per share	-$0.01	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.01	Cash from operations / diluted weighted shares.
Book value per share	$0.08	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.08	Tangible book value / shares outstanding.
Cash per share	$0.00	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$642.5M	Share price x shares outstanding.
Enterprise value	$642.4M	Market cap + total debt - cash - short-term investments.
P/S	46.5x	Market cap / revenue.
P/B	3.55x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.55x	Market cap / tangible book value, when positive.
EV/Sales	46.4x	Enterprise value / revenue.
FCF yield	-2.0%	Free cash flow / market cap.
Earnings yield	-2.9%	Net income / market cap (the inverse of P/E).

What was Akso Health Group's revenue in fiscal 2026?

Akso Health Group reported revenue of $13.8M for fiscal 2026, 6.4% lower than the year before.

Was Akso Health Group profitable in fiscal 2026?

No. It reported a net loss of $18.7M.

How much free cash flow did Akso Health Group generate in fiscal 2026?

Cash from operations of $12.8M minus capital expenditures of $1.6K left free cash flow of -$12.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to Akso Health Group