Serial Achieva narrows FY2025 net loss to US$0.7m on 22% sales growth and 0.9‑ppt margin uplift, but leverage jumps with US$25.1m borrowings
Summary:
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Full-year sales rose 21.7% to US$96.8 million, lifting gross profit 76.6% to US$2.9 million as gross margin improved from 2.1% to 3.0% on better pricing and supplier rebates.
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Net loss after tax shrank to US$0.7 million from US$6.1 million, a year that was hit by a US$4.2 million one‑off accounting loss on the reverse takeover and US$0.4 million of acquisition‑related costs.
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Other income surged threefold to US$2.1 million on higher interest and rebate income, while operating expenses increased 49% to US$5.7 million, largely from higher distribution, admin and finance costs.
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The Group swung to an US$8.7 million operating cash inflow (FY2024: US$2.0 million outflow) helped by inventory rundown and better receivables collection, boosting cash and fixed deposits to US$7.5 million.
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Net assets attributable to shareholders slipped to US$4.1 million (2.39 US cents NAV per share) from US$4.4 million as total borrowings jumped to US$25.1 million and banks’ covenant breaches on US$6.8 million of loans were disclosed, though facilities remain in place and repayments are current.