AEI Alset Inc.

Overview and Growth

In fiscal 2025, Alset Inc. recorded $4.47M of revenue, net loss of $47.41M, and an operating cash outflow of $5.93M. At $4.47M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line contracted 78.8% from $21.12M in fiscal 2024; this top-line contraction left the company with a smaller revenue base. The company reported diluted EPS of -$2.22, adding a shareholder-level measure to the absolute income figures considered below. The diluted weighted-average share count was 21.36M, linking total earnings with the per-share result received by shareholders. The company employed $136.59M of total assets, the balance-sheet base supporting its current operating and cash-flow results. The revenue-to-assets relationship was 0.03x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After reported cost of revenue, the company retained $1.25M as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 27.9% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced a $15.15M operating loss before non-operating and tax effects. Relative to revenue, the operating deficit measured 338.9%, showing the shortfall after operating costs. After all below-operating-line items, the company recorded a net loss of $47.41M for the fiscal year. Negative EBITDA totaled $14.08M, confirming that the earnings deficit remained before depreciation and amortization. Before income taxes, the company recorded a loss of $48.92M, bridging the operating result to the final net loss. The reported income-tax provision was $432.09K, the amount recognized between pretax income and the final net-income result. The loss-to-equity relationship was 36.6%, placing the bottom-line deficit against shareholder capital. Relative to total assets, the net loss represented 34.7%. Compared with a $3.97M net loss in fiscal 2024, the current loss increased to $47.41M.

Liquidity and Capital Structure

The company held $136.59M of assets against $6.92M of liabilities and $129.66M of equity, revealing how the asset base was financed. Current assets were $45.28M against $5.93M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 7.63x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. The company held $25.18M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 424.5% of current liabilities, showing how much near-term coverage came from cash alone. Equity equaled 94.9% of assets, showing the shareholder-capital layer within the company’s balance sheet. The liabilities-to-assets relationship was 5.1%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 18.4% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $96.76M in fiscal 2024, the current asset base moved 41.2% and finished higher. Against $90.20M of equity in fiscal 2024, the current book-equity balance moved 43.8% and ended higher. Cash and equivalents were 7.6% lower than fiscal 2024 cash of $27.24M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $5.93M, rather than cash generation from operations. Capital expenditures used $175.46K in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Negative free cash flow was $6.10M, leaving a cash deficit after capital spending and reducing financial flexibility. Free-cash-flow margin was -136.5%, reflecting a cash deficit equal to 136.5% of revenue after capital spending. The cash deficit after capital spending represented 4.5% of the period-end asset base. Operating cash flow moved from a $5.16M inflow in fiscal 2024 to a $5.93M outflow.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.