10-Q · May 8, 2026
Greenpro Capital Corp. (GRNQ) reported revenue of $405,386 for Q1 2026, a 15% increase from $352,755 in Q1 2025, driven primarily by an increase in digital revenue. However, the company recorded a net loss of $911,576,…
Earnings analysis · 10-Q
GRNQ earnings analysis
Filed August 5, 2026 · Our reading of the company's report
The latest report
Greenpro's Q2 revenue declined 29.3% year over year and 25.5% sequentially to $302,167 as service revenue fell 37.1%; growth in digital trading and rent was insufficient to offset the decline. Gross margin contracted to…
Read full summary
Greenpro's Q2 revenue declined 29.3% year over year and 25.5% sequentially to $302,167 as service revenue fell 37.1%; growth in digital trading and rent was insufficient to offset the decline. Gross margin contracted to 62.2% from 80.4% a year ago, while the operating loss widened to $734,423 and the net loss rose to $709,383. Liquidity was supported by $1.268 million of financing inflows, but first-half operating cash use of $1.267 million and the $41.868 million accumulated deficit underpin management's going-concern disclosure. EPS and a company-defined free-cash-flow metric were not disclosed in the supplied filing text.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
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.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
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.
What stood out
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Digital revenue more than doubled
Digital platform and trading revenue more than doubled to $37,464 from $17,921, driven by higher 2026 trading volume; digital revenue was $115,923 for the first six months versus $44,177 a year earlier.
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Rental revenue posted modest growth
Rental revenue increased $2,180 year over year to $16,094 in Q2, and increased $2,715 to $32,275 for the first six months.
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Cash balance remained stable
Cash was broadly stable at $634,440 at June 30, 2026, down only $2,219 from $636,659 at December 31, 2025, after $1,267,937 of first-half financing inflows.
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Private placement added operating capital
The company raised $400,000 through private placements of 201,850 common shares during April through June 2026, with proceeds designated for operating capital.
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MFAI litigation was settled
The MFAI dispute was resolved for a $100,000 cash payment and surrender of 2,000,000 MFAI Class B shares; the Nevada action and related arbitration were dismissed with prejudice.
What to watch
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Going-concern uncertainty remains
The company explicitly states substantial doubt about going concern: it reported a $1,620,959 first-half net loss, $1,266,864 of operating cash use, and a $41,867,671 accumulated deficit at June 30, 2026.
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Core-service decline widened losses
Q2 revenue fell $124,925 (-29.3%) to $302,167, while operating loss widened $132,762 to $734,423. Operating margin deteriorated to -243.1% from -140.9% in Q2 2025.
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Compensation and settlement costs pressured G&A
First-half G&A rose $246,945 to $2,139,940, led by $444,453 of customer compensation, a $100,000 MFAI settlement, and $89,613 of PRC court-ordered investor compensation.
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Related-party payable balance increased
Related-party payables rose to $856,945 at June 30, 2026 from $101,922 at December 31, 2025, including $571,715 due to a director of PRC subsidiaries.
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No material risk-factor update; crypto volatility persists
Item 1A states there were no material changes to risk factors as of the quarter ended June 30, 2026; however, the unchanged digital-asset risk discussion cites bitcoin trading from approximately $16,000 since 2023 to above $100,000.
Management's outlook
No quantitative financial guidance was provided. Management expects service revenue to recover slightly in coming months and expects G&A to slightly increase while it develops the Green-X digital-platform and digital-banking businesses. It also expects rental income to decline following the early-July 2026 sale of Hong Kong properties.
Earlier filings 4
10-K · March 30, 2026
Greenpro Capital describes a diversified corporate advisory group operating across Hong Kong, China, Malaysia, BVI, Belize and Labuan that provides financial consulting, company formation/secretarial services, family…
10-K · April 9, 2025
Greenpro Capital’s 10-K (period ended 2024-12-31) shows a volatile revenue profile with a large Q4 2024 inflection (Q4 revenue $2,000,000, operating margin 29.9%, diluted EPS $0.06) but persistent negative free cash…
10-Q · August 13, 2024
Greenpro Capital Corp. reported Q2 revenue of $361,174 (down from $600,885 in Q2 2023) and a GAAP net loss of $565,753 for the quarter (net loss attributable to common shareholders $562,603; EPS $(0.07)). Gross profit…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.