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DHAI

DIH Holding US, Inc.

DHAI

DIH Holding US, Inc. • NASDAQ
$0.75 ▲ 26.70% (+0.16)
Market Cap $1.56 M
52w High $73.25
52w Low $0.00
Dividend Yield 0%
P/E -0.12
Volume 6.00K
Outstanding Shares 2.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $12.648M ▼ $8.994M ▼ $-4.404M ▼ -34.82% ▼ $-2.71 ▲ $-5.057M ▼
Q3-2025 $15.094M ▼ $9.982M ▲ $-3.728M ▼ -24.699% ▼ $-2.75 ▼ $-3.076M ▼
Q2-2025 $18.162M ▲ $7.669M ▼ $-234K ▲ -1.288% ▲ $-0.17 ▲ $387K ▼
Q1-2025 $16.96M ▼ $10.254M ▲ $-310K ▲ -1.828% ▲ $-0.445 ▲ $639K ▲
Q4-2024 $17.352M $6.641M $-4.291M -24.729% $-3.5 $393K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $1.939M ▲ $26.752M ▼ $63.887M ▼ $-37.135M ▲
Q3-2025 $1.12M ▼ $31.814M ▼ $69.696M ▼ $-37.882M ▼
Q2-2025 $1.759M ▼ $38.194M ▼ $72.589M ▲ $-34.395M ▼
Q1-2025 $2.749M ▼ $38.209M ▲ $72.204M ▲ $-33.995M ▼
Q4-2024 $3.225M $35.735M $68.281M $-32.546M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $-4.404M ▼ $-3.296M ▼ $-92K ▼ $4.211M ▲ $819K ▲ $-3.388M ▼
Q3-2025 $-3.728M ▼ $686K ▲ $-21K ▲ $-1.574M ▼ $-939K ▼ $665K ▲
Q2-2025 $70K ▲ $476K ▲ $-188K ▲ $-1.018M ▼ $-690K ▼ $288K ▲
Q1-2025 $-310K ▲ $-2.01M ▼ $-235K ▼ $1.774M ▲ $-476K ▼ $-2.245M ▼
Q4-2024 $-6.015M $2.015M $-67K $-402K $3.225M $1.948M

Five-Year Company Overview

Income Statement

Income Statement DIH’s income statement shows a very small but fairly steady business that is still struggling to make consistent profits. Revenue has only inched up over the past few years and remains modest, while gross profit is positive, meaning the core products can generate value above their direct costs. However, after factoring in operating expenses and other costs, the company tends to slip into small losses rather than clear, repeatable earnings. The pattern suggests a business near break-even that has not yet reached the scale or efficiency needed to turn its technology and product portfolio into reliable profitability. Earnings per share look particularly weak, which mainly reflects the company’s small size, recurring losses, and share structure changes rather than a collapse in the underlying operations in a single year.

Balance Sheet

Balance Sheet The balance sheet is a clear weak spot. Total assets are limited, cash on hand is thin, and there is a noticeable level of debt relative to the company’s size. Most importantly, shareholders’ equity is negative and has been negative for several years, which typically points to accumulated losses and a capital structure that relies heavily on debt or other obligations rather than retained profits. This creates financial fragility: the company has little cushion to absorb setbacks, is more exposed to lenders and capital market sentiment, and may need external funding to support growth or even steady operations. The reverse stock split and Nasdaq listing issues also highlight underlying balance sheet and market valuation pressures.

Cash Flow

Cash Flow Cash flow is slightly more encouraging than the income statement and balance sheet, but still constrained. Operating cash flow has hovered around break-even to modestly positive in recent years, which suggests that the core business is not burning large amounts of cash day to day. Free cash flow is also close to neutral, helped by very low capital spending, meaning the company is not currently investing heavily in new physical capacity. The trade-off is that while cash usage is controlled, the company has limited financial flexibility and relies on tight working capital management rather than a strong cash buffer. Any negative surprise in sales or collections could quickly strain liquidity, given the small absolute cash levels.

Competitive Edge

Competitive Edge Commercially, DIH occupies an interesting niche: advanced robotic and virtual reality systems for physical rehabilitation. Within this specialized area, it positions itself as one of the larger players, with a broad installed base and a wide portfolio that spans upper- and lower-limb rehab, gait and balance analysis, and immersive rehab environments. Its ecosystem approach can make it attractive to clinics that want a one-stop technology partner and may create switching costs for existing customers. At the same time, this remains a fragmented, evolving market with other device makers, robotics firms, and digital health companies all competing for budgets. DIH’s recent revenue softness and listing challenges suggest that, despite its technological strengths, it has not yet fully translated its clinical credibility and installed base into strong, sustainable commercial momentum.

Innovation and R&D

Innovation and R&D Innovation is the company’s main strength. DIH combines robotics, virtual reality, motion analysis, and increasingly artificial intelligence and data analytics to create high-tech rehabilitation solutions. Its portfolio includes well-known systems for arm and gait therapy, plus more advanced lab environments for detailed movement analysis. The partnership around the Keeogo dermoskeleton adds another layer of AI-driven, wearable robotics aimed at mobility assistance. The company also emphasizes clinical research collaborations and evidence-based use of its systems, which can deepen its reputation with therapists and hospitals. The key question is not whether the technology is novel—it clearly is—but whether DIH can keep funding and commercializing this innovation at scale given its tight finances and small size.

Summary

Taken together, DIH looks like an innovation-rich but financially fragile medical device company at an early and uncertain stage of its public life. On the positive side, it operates in a growing area at the intersection of robotics, VR, and rehabilitation, holds a broad and differentiated product suite, and has meaningful clinical and research relationships. On the risk side, the business remains small, only marginally above break-even on cash flow, with persistent accounting losses, negative equity, and limited balance sheet strength. The delisting notice and reverse stock split underscore the market’s concerns about scale and financial resilience. Going forward, the core issue is whether DIH can convert its technological lead and niche market position into steadier revenue growth, clear profitability, and a stronger capital structure, all while continuing to invest enough in innovation to stay ahead in its specialized field.

NEWS

October 20, 2025 · 5:05 PM UTC

DIH Announces Fiscal 2025 Fourth Quarter and Fiscal Year End Financial Results

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October 1, 2025 · 8:11 PM UTC

DIH Holding US, Inc. Clarifies Previous Disclosure Regarding Additional Nasdaq Staff Determination Letter

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September 18, 2025 · 4:10 PM UTC

DIH Holding US, Inc. Receives Additional Nasdaq Staff Determination Letter

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September 8, 2025 · 4:46 PM UTC

DIH Appoints Barrett Mooney, Ph.D to DIH Holding US, Inc. Board of Directors

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September 5, 2025 · 4:30 PM UTC

DIH Holding US, Inc. Receives Nasdaq Staff Determination Letter

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