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Earnings analysis · 10-Q

XWIN earnings analysis

Filed May 15, 2026 · Our reading of the company's report

The latest report

XWIN reported a challenging Q4 2026 with a significant revenue decline of 32% and a net income of $191,514 compared to a prior loss, marking an improvement. Management highlighted strategic shifts towards AI technology…

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XWIN reported a challenging Q4 2026 with a significant revenue decline of 32% and a net income of $191,514 compared to a prior loss, marking an improvement. Management highlighted strategic shifts towards AI technology to diversify revenue amid market pressures. The financial position has strengthened with increased working capital and a notable cash influx from financing activities.

Read the original on SEC.gov

Gross and operating margin

How much of each revenue dollar the business keeps.

50% Gross margin Operating margin May 2023 May 2026

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.

Of every $100 of revenue Cost of sales $50 Operating expenses $80 Left as operating profit $-30

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.

Read as bullish Read as bearish May 2023 May 2026

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

What stood out

  • Revenue Decrease of 32%

    Q4 2026 revenue was $1.78 million, down from $2.64 million a year earlier.

  • Improved Gross Margin

    Gross margin improved to 50%, up from 46% in Q4 2025.

  • Other Income Increase

    Other income rose to $726,367, compared to a loss of $207,771 last year.

  • Net Income of $191,514

    Net income recorded in Q4 2026, a turnaround from a net loss of $338,871 in Q4 2025.

  • Significant Cash Inflow from Financing

    Financing activities provided $12.19 million in cash during Q4 2026.

  • Working Capital Improvement

    Working capital increased to $18.19 million, up by $8.80 million from end of 2025.

What to watch

  • Substantial Decrease in Sales Volume

    Sales volume decreased by 36.92% year-over-year, contributing to revenue decline.

  • Increased Operating Loss

    Operating loss widened to $534,853 from a loss of $193,360 in the prior year.

  • High Accounts Receivable Aging

    Accounts receivable showed $2.46 million gross, with $2.42 million over 90 days past due.

Management's outlook

Management did not provide explicit numeric guidance but indicated a focus on AI development and revenue diversification.

Earlier filings 4

10-K · April 15, 2026

The 10-K describes XMax as a small, vertically‑integrated furniture designer/distributor (22 full‑time employees as of December 31, 2025) that generated a product mix in 2025 led by marble slabs (approximately 47% of…

10-Q · November 14, 2025

XMAX reported strong top-line growth for the quarter — net sales of $9,761,091 (Q3 2025) vs $2,615,807 (Q3 2024) — but gross margin compressed to 10.1% and the company remained loss-making with diluted EPS of $(0.06).…

10-Q · November 14, 2024

Nova LifeStyle reported quarterly revenue of $2,615,807 (up $139,673 or ~5.6% YoY from $2,476,134) and a gross profit of $1,179,255 (gross margin ~45.1%, up ≈2.1 percentage points YoY). Despite the revenue and margin…

10-Q · May 15, 2024

Q1 2024 showed top-line improvement but persistent losses and tight liquidity. Revenue rose to $2.376M (+$501,828; +26.8% y/y) and gross profit improved to $1.016M (gross margin 42.77% vs 35.29% a year ago), but the…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.