AGH earnings analysis
What we found in AGH's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Aureus Greenway Holdings reported an 11% year-over-year revenue increase for Q1 2026, reaching $1.47 million driven by substantial growth across all revenue streams. However, the company faced a stark shift from profit to a net loss of $1.26 million, primarily due to a dramatic rise in operating expenses, particularly salaries and administrative costs.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 11% YoY
- Total revenue increased to $1.47 million from $1.33 million in Q1 2025.
- Gross Margin Improvement
- Gross margin for Q1 2026 was 43.6%, up from 40.2% in Q1 2025.
- Strong Ancillary Revenue Growth
- Ancillary revenue jumped 26%, reflecting increased demand for clubhouse rentals.
- Increase in Cash Reserves
- Cash and cash equivalents stood at $17.52 million, despite a decline from $28.67 million.
- Substantial Investment in Convertible Notes
- Investment in convertible notes recorded at $20.05 million, completed in March 2026.
- Reduced Current Liabilities
- Current liabilities decreased 34% to $856,512, primarily due to a drop in amounts due to related parties.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Increase in Operating Expenses
- Operating expenses surged 200% to $2.93 million, largely driven by a 380% increase in salaries.
- Transitioning from Profit to Loss
- Net loss for Q1 2026 was $1.26 million compared to a net income of $266,212 in Q1 2025.
- Material Weaknesses in Financial Controls
- Identified material weaknesses relate to inadequate internal controls over financial reporting.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.06
- Gross margin
- 43.6%
- Operating margin
- -99.1%
- Segment
- Golf operations
- Segment
- Food and Beverage
- Segment
- Merchandise Sales
- Segment
- Ancillary Income
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads worse than the one before it.
What came before.
- 10-K · March 31, 2026
- Aureus Greenway operates two public golf country clubs (Kissimmee Bay and Remington) south of Orlando. The company completed renovations in 2025 (including 19 new TiffEagle greens at Remington), completed an IPO on…
- 10-Q · May 15, 2025
- Aureus Greenway reported Q1 revenue of $1,328,371 (down $225,264 or 14.5% YoY) and diluted EPS of $0.02 (down $0.01 vs $0.03 a year ago). Operating income was $353,037 (margin 26.6%), lower than $480,110 in Q1 2024. The…
- 10-Q · December 13, 2024
- Q3 2024 revenue was essentially flat versus Q3 2023 at $436,899 (down $2,575), but operating performance weakened on a year-to-date basis. Q3 operating loss modestly improved to $(279,733) and net loss narrowed to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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