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TIRX

Tian Ruixiang Holdings Ltd

TIRX

Tian Ruixiang Holdings Ltd • NASDAQ
$0.88 ▲ 6.75% (+0.06)
Market Cap $22.99 M
52w High $13.25
52w Low $0.60
Dividend Yield 0%
P/E -3.52
Volume 640.02K
Outstanding Shares 26.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $4.025M ▲ $0 $-496.7K ▲ -12.342% ▲ $-0.01 ▲ $-250.004K ▼
Q4-2024 $3.041M ▲ $0 ▼ $-1.382M ▲ -45.432% ▲ $-0.042 ▲ $1.959M ▲
Q2-2024 $178.345K ▼ $3.141M ▲ $-2.605M ▼ -1.461K% ▼ $-0.13 ▼ $-2.895M ▼
Q4-2023 $519.387K ▼ $2.696M ▲ $3.625M ▲ 697.889% ▲ $0.29 ▲ $-1.065M ▲
Q2-2023 $724.859K $1.33K $2.975M 410.357% $0.251 $-1.872M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $27.964M ▼ $6.037M ▼ $9.209M ▲ $-3.172M ▼
Q4-2024 $28.388M ▲ $39.979M ▲ $6.089M ▲ $33.89M ▲
Q2-2024 $27.457M ▲ $37.967M ▲ $5.624M ▲ $32.343M ▼
Q4-2023 $26.799M ▼ $35.48M ▼ $3.063M ▲ $32.417M ▼
Q2-2023 $35.924M $37.003M $2.453M $34.549M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-496.7K ▲ $527.334K ▼ $5.984K ▲ $-75.292K ▼ $-727.058K ▼ $526.22K ▼
Q4-2024 $-1.382M ▲ $639.684K ▲ $-29.236M ▼ $1.131M ▲ $0 ▼ $639.684K ▲
Q2-2024 $-2.605M ▼ $258.21K ▲ $27.415M ▲ $57.988K ▲ $13.731M ▲ $258.21K ▲
Q4-2023 $-967.724K ▲ $232.72K ▼ $-36.108M ▼ $-283 ▼ $-35.961M ▼ $232.72K ▼
Q2-2023 $-1.486M $761.583K $35.115M $42.153K $35.961M $761.583K

Revenue by Products

Product Q3-2022Q3-2023
Commissions
Commissions
 $0 ▲$0 ▲
Risk management services
Risk management services
 $0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement The reported income statement is extremely light, with essentially no meaningful revenue showing over the last few years and continuing losses on a per‑share basis. This suggests the legacy brokerage business either shrank sharply, is being restructured, or the new tech‑driven model has not yet translated into visible revenue in these figures. The pattern of ongoing per‑share losses indicates the company is still in an investment and transition phase rather than in a stable, profitable state.

Balance Sheet

Balance Sheet The balance sheet is very small in scale, with modest assets, thin equity, and almost no cash recently disclosed. There is effectively no financial debt, which reduces interest burdens but also reflects how small the capital base is. This combination points to a fragile financial position: limited resources to fund growth internally, little cushion against setbacks, and a likely need to rely on equity issuance or partners to support expansion. The repeated reverse stock splits also hint at past share price pressure and highlight capital‑market fragility.

Cash Flow

Cash Flow Cash flow information shows no meaningful operating or free cash flow, which is consistent with a business that is either not yet generating sustainable revenue or is in the middle of a major pivot where reported activity is limited. With no clear internal cash generation, the company’s ability to fund technology development, acquisitions, and expansion appears to depend heavily on external financing. Until the new strategy starts to produce steady cash inflows, liquidity and funding access remain key risks to watch.

Competitive Edge

Competitive Edge On paper, the company’s competitive position is built around a very specialized niche: AI‑driven health insurance risk management anchored by the Ucare platform and its broad hospital relationships. If Ucare truly is one of the only platforms of its kind in China, that offers a first‑mover advantage, a valuable data pool, and an embedded presence in thousands of hospitals, which are hard for rivals to replicate quickly. At the same time, Tian Ruixiang is tiny compared with major insurers and tech players, which means it faces execution risk, regulatory scrutiny in healthcare data, and the possibility that larger competitors could respond aggressively once the niche proves profitable.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of the strategy. The company is trying to transform from a traditional broker into an AI‑enabled health‑insurance platform company, using generative AI, hospital data, and risk analytics to fight fraud, improve pricing, and automate claims. The Ucare acquisition, earlier partnerships on intelligent customer systems, and moves into Hong Kong and Southeast Asia show a willingness to experiment and re‑invent the business model. However, this also means high execution risk: integrating acquisitions, maintaining high‑quality AI models, handling sensitive medical data, and navigating different regulatory regimes all require ongoing investment, strong technical talent, and disciplined R&D management.

Summary

Tian Ruixiang today looks like a very small, financially fragile company attempting a large strategic leap. The historical financials show negligible reported revenue and persistent losses, with a thin balance sheet and no clear internal cash engine to support its ambitions. Against that, the strategy is bold: use AI and hospital data to carve out a differentiated role in health‑insurance risk management, build on a broad hospital network, and extend into new regions and digital retail channels. The core question is whether the company can turn these technological and strategic moves into real, recurring revenue and cash flow before financial constraints or competitive responses limit its options. The long‑term potential is tied to successful execution of the pivot, but uncertainty is high and near‑term financial strength appears limited.

NEWS

November 7, 2025 · 10:48 AM UTC

CORRECTION -- TIAN RUIXIANG Holdings Ltd. Enters Into Agreement to Acquire REN Talents Inc.

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November 5, 2025 · 9:00 AM UTC

TIAN RUIXIANG Holdings Ltd. Enters Into Agreement to Acquire BEYOND COASTLINE HOLDINGS LIMITED

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October 10, 2025 · 9:00 AM UTC

TIAN RUIXIANG Holdings Announces Pricing of $3 Million Registered Direct Offering of Ordinary Shares

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September 2, 2025 · 8:00 AM UTC

TIAN RUIXIANG Holdings Ltd. Announces Reverse Stock Split with Marketplace Effective Date on September 5, 2025

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