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GSIW

Garden Stage Limited Ordinary Shares

GSIW

Garden Stage Limited Ordinary Shares • NASDAQ
$0.15 ▼ -4.33% (-0.01)
Market Cap $32.33 M
52w High $1.79
52w Low $0.09
Dividend Yield 0%
P/E -0.53
Volume 310.22K
Outstanding Shares 218.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $90.2K ▼ $461.726K ▼ $-419.374K ▲ -464.938% ▲ $-0.027 ▲ $-410.04K ▲
Q4-2024 $328.922K ▲ $2.247M ▲ $-1.919M ▼ -583.393% ▼ $-0.034 ▼ $-485.283K ▼
Q2-2024 $95.846K ▼ $745.316K ▼ $15.25M ▲ 15.911K% ▲ $15.25M ▲ $-89.416K ▼
Q4-2023 $2.079M ▲ $1.724M ▲ $355.412K ▼ 17.094% ▼ $0.031 ▼ $704 ▲
Q2-2023 $150.383K $871.427K $15.25M 10.141K% $15.25M $-21.791

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $624.583K ▼ $15.899M ▲ $9.197M ▲ $6.702M ▲
Q2-2025 $1.026M ▼ $2.01M ▼ $1.122M ▼ $888.5K ▼
Q4-2024 $2.666M ▲ $16.584M ▲ $7.298M ▲ $9.285M ▲
Q2-2024 $802.724K ▼ $1.032M ▼ $776.594K ▼ $254.943K ▼
Q4-2023 $828.689K $13.131M $11.184M $1.947M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-419.374K ▲ $-103.681K ▲ $-27.896K ▼ $0 ▼ $-115.973K ▼ $-131.58K ▲
Q4-2024 $-3.838M ▼ $-7.294M ▼ $-1.448K ▼ $9.943M ▲ $339.326K ▲ $-7.296M ▼
Q2-2024 $-95.978K ▼ $26.004K ▲ $0 ▲ $-31.825K ▲ $-5.821K ▲ $26.004K ▲
Q4-2023 $355.412K ▲ $-5.861M ▼ $-22 ▲ $-239.936K ▼ $-3.049M ▼ $-5.861M ▼
Q2-2023 $-71.691K $507.827K $-2.825K $80.063K $12.415M $505K

Five-Year Company Overview

Income Statement

Income Statement The income statement shows a business that is still at a very early, low‑revenue stage. Reported revenue over the past few years has been minimal and inconsistent, suggesting the core activities have not yet scaled in a meaningful way. Profitability is not established; earnings per share have been negative, reflecting ongoing operating costs that outweigh the small amount of income generated. In simple terms, the company appears to still be in a build‑out or transition phase rather than a mature, profit‑generating financial firm.

Balance Sheet

Balance Sheet The balance sheet is very small and quite light. Total assets and equity are modest, with no meaningful borrowings, which means the company is not heavily leveraged but also lacks a large financial cushion. Cash on hand appears limited, so the business likely depends on careful cost control and external capital raises to fund operations and growth plans. Overall, financial resources are thin, which can constrain how quickly strategies can be executed and how well the firm can absorb setbacks.

Cash Flow

Cash Flow Cash flow from operations has been small and somewhat uneven, occasionally positive but also negative, which is typical of a company that has not yet built steady fee or commission income. Capital spending has been minimal, indicating an asset‑light model where most costs are likely people, technology, and regulatory compliance rather than heavy physical investment. Given the weak internal cash generation, the company seems reliant on external financing events to support its activities and strategic initiatives, rather than on cash produced by its own operations.

Competitive Edge

Competitive Edge Garden Stage operates in one of the most competitive arenas in finance: Hong Kong capital markets and asset management. Its main strengths are its regulatory licenses from the local securities regulator, its participation in the stock exchange, and a focus on professional investors, especially for structured and derivative products. Strategic partnerships with larger institutions and technology providers help extend its reach and capabilities despite its small size. However, the firm competes against much larger global banks and local brokerages, so its position depends heavily on executing its niche strategy well and proving it can add value that bigger players do not.

Innovation and R&D

Innovation and R&D Innovation here is less about traditional research labs and more about product design and partnerships. The company is leaning into an AI‑enabled hedge fund offering, using a partner’s proprietary system, which is a clear attempt to differentiate its asset management arm. It also offers mobile trading tools and is pursuing structured and derivative products tailored to professional clients. Much of its “R&D” is effectively done through alliances—with technology firms, family offices, and larger banks—which can accelerate innovation but also introduces dependence on partners and execution risk if those relationships do not deliver as planned.

Summary

Overall, Garden Stage looks like a very small, early‑stage financial services platform with a strategy that is more developed than its current financial size and performance. The accounts show minimal revenue and ongoing losses, paired with a thin balance sheet and modest, sometimes negative, operating cash flow. On the strategic side, the company has real regulatory licenses, a clear niche focus, and a set of interesting partnerships around AI‑driven products and structured solutions for professional investors. The key uncertainties are whether it can turn these plans into stable, growing fee income, manage its limited financial resources prudently, and maintain market and listing status while operating in a highly competitive and fast‑moving financial hub.

NEWS

October 23, 2025 · 6:17 AM UTC

I Win Asset Management and eBroker Group Limited Sign Strategic Partnership Agreement

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September 5, 2025 · 11:50 PM UTC

Garden Stage Limited - Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency

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