Quarterly ResultJul 31, 2026, 08:37 AM
Ridgetech FY26 Revenue $132.2M, Net Loss $1.25M
AI Summary
Ridgetech, Inc. announced its fiscal year 2026 financial results, reporting a 10.2% increase in revenue to $132.2 million, primarily driven by the full-year contribution from the Allright acquisition. The company's gross profit grew by 23.8% to $4.75 million, with an improved gross margin of 3.6%. Despite these gains, Ridgetech recorded a net loss of $1.25 million, or $17.21 per share, compared to a net income in the previous year, as it completed its strategic transition to a wholesale-focused business model.
Key Highlights
- Revenue increased 10.2% to $132.16 million for fiscal year 2026.
- Gross profit rose 23.8% to $4.75 million for fiscal year 2026.
- Gross margin improved to 3.6% from 3.2% in the prior fiscal year.
- Reported a net loss of $1.25 million, or $17.21 per basic and diluted share.
- Online platform revenue surged 1,190.8% to $14.29 million due to Allright acquisition.
- Completed strategic transition to a wholesale-focused business model.
- Cash and cash equivalents increased to $17.91 million as of March 31, 2026.
- Net cash used in operating activities was $1.39 million for fiscal year 2026.
Price Impact
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