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…
Earnings analysis · 10-Q
AGH earnings analysis
Filed May 12, 2026 · Our reading of the company's report
The latest report
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…
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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.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.06
- Segment
- Golf operations
- Segment
- Food and Beverage
- Segment
- Merchandise Sales
- Segment
- Ancillary Income
What stood out
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Revenue Growth of 11% YoY
Total revenue increased to $1.47 million from $1.33 million in Q1 2025.
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Gross Margin Improvement
Gross margin for Q1 2026 was 43.6%, up from 40.2% in Q1 2025.
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Strong Ancillary Revenue Growth
Ancillary revenue jumped 26%, reflecting increased demand for clubhouse rentals.
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Increase in Cash Reserves
Cash and cash equivalents stood at $17.52 million, despite a decline from $28.67 million.
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Substantial Investment in Convertible Notes
Investment in convertible notes recorded at $20.05 million, completed in March 2026.
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Reduced Current Liabilities
Current liabilities decreased 34% to $856,512, primarily due to a drop in amounts due to related parties.
What to watch
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Significant Increase in Operating Expenses
Operating expenses surged 200% to $2.93 million, largely driven by a 380% increase in salaries.
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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.
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Material Weaknesses in Financial Controls
Identified material weaknesses relate to inadequate internal controls over financial reporting.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 3
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 itself. Analysis can contain errors; check the source document for full context.