MSS earnings analysis
What we found in MSS'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
Maison Solutions Inc. reported a notable decline in revenues for Q3 2026 with actual revenue at $29.5M, down 8.6% year-over-year. The net loss for the quarter was substantial at $5.2M compared to a profit in the same period last year, indicating severe challenges affecting profitability, including rising operational expenses and increased interest costs.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decrease Compared to Last Year
- Net revenues fell to $29.5M, down $2.8M or 8.6% from $32.3M in the prior year.
- Significant Net Loss for Quarter
- Net loss attributable to the Company was $5.2M, compared to a profit of $1.0M last year.
- Increased Gross Profit Amid Revenue Drop
- Gross profit rose to $7.5M, up by 7.0% from $7.0M despite lower revenues.
- Rising Operating Expenses
- Total operating expenses surged to $10.4M, a 76.8% increase compared to $5.9M last year.
- Interest Expense Increased
- Interest expense rose to $718,833, increasing 171.5% from $264,778 last year.
- Gross Margin Improvement
- Gross margin increased to 25.5%, compared to 21.8% in the prior year.
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.
- High Competition Impacting Sales
- Sales from California-based supermarkets declined due to intense competition, contributing to a revenue drop.
- Deteriorating Financial Position
- A working capital deficit of approximately $6.2 million and a net loss of $11.2M could strain liquidity.
- Missed Earnings Expectations
- Reported EPS of -0.10 significantly missed estimates, signaling financial struggles.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.1
- Gross margin
- 25.5%
- Segment
- Perishables: $15.1M
- Segment
- Non-Perishables: $14.5M
What they said about what is next.
Management did not provide explicit forward financial guidance.
The filing reads worse than the one before it.
What came before.
- 10-Q · December 22, 2025
- Maison Solutions Inc. reported a disappointing Q2 with revenue of $27.6 million, down 5.9% from $29.4 million in the prior year, and an EPS of -0.23, missing analysts' expectations. The negative trends in revenue and…
- 10-Q · September 22, 2025
- Maison Solutions Inc. reported a decline in revenue and increased losses in its Q1 2026 results. The company's revenue decreased to $27 million, down 3.6% year-over-year, with a gross margin contraction to 24.2%.…
- 10-K · August 14, 2025
- Maison Solutions Inc. reported strong revenue growth of 114% in fiscal year 2025, reaching approximately $124.2 million, driven predominantly by the acquisition of Lee Lee Orient Supermart and increased sales in…
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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