Top Page
Solowin Holdings
(NASDAQ:AXG)
Solowin Holdings (AXG) vs. SPDR S&P 500 ETF (SPY)
Solowin Holdings Business Overview & Revenue Model
Solowin Holdings Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 974.55K | 361.73K | 548.40K | 568.08K | 418.27K | 152.33K |
| Gross Profit | 194.19K | 275.50K | 538.82K | 562.59K | 237.40K | 103.83K |
| EBITDA | -820.83K | -1.08M | -558.63K | 174.39K | -93.91K | -40.89K |
| Net Income | -886.41K | -1.10M | -582.27K | 172.09K | -125.76K | -83.20K |
Balance Sheet | ||||||
| Total Assets | 383.17M | 12.31M | 15.40M | 10.23M | 9.46M | 13.72M |
| Cash, Cash Equivalents and Short-Term Investments | 14.58M | 3.84M | 2.14M | 1.93M | 977.00K | 542.00K |
| Total Debt | 2.04M | 1.08M | 1.07M | 251.00K | 98.00K | 261.00K |
| Total Liabilities | 14.17M | 7.58M | 6.48M | 6.89M | 7.46M | 12.26M |
| Stockholders Equity | 368.98M | 4.73M | 8.92M | 3.34M | 2.00M | 1.46M |
Cash Flow | ||||||
| Free Cash Flow | -814.12K | -146.92K | -734.62K | -57.53K | -739.29K | 1.42M |
| Operating Cash Flow | -805.11K | -135.63K | -716.60K | -56.51K | -737.11K | 1.42M |
| Investing Cash Flow | 82.96K | 36.83K | -175.86K | 28.70K | 14.64K | 45.27K |
| Financing Cash Flow | 1.59M | 304.88K | 858.84K | -43.50K | 187.55K | -6.19K |
Solowin Holdings Technical Analysis
Solowin Holdings Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $172.26M | 22.37 | 5.99% | 3.32% | 4.03% | 151.19% | |
72 Outperform | $120.07M | 16.32 | 8.43% | ― | 8.47% | -32.22% | |
69 Neutral | $875.67M | 6.44 | 9.64% | 0.99% | 12.52% | 16.53% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
68 Neutral | $1.52B | 10.26 | 22.84% | ― | 65.74% | 345.40% | |
53 Neutral | $2.01B | 34.46 | ― | 1.62% | -12.44% | ― | |
41 Neutral | $534.50M | -108.40 | -125.22% | ― | -33.99% | -121.80% |
Solowin Holdings Corporate Events
On January 28, 2026, Solowin announced that AlloyX subsidiary AX Coin secured in-principle approval from the Central Bank of Bahrain to become the first stablecoin issuer licensed in the kingdom, positioning the company to launch a regulated token and extend its MEA stablecoin ecosystem once final authorization is granted. The regulatory milestone bolsters Solowin’s foothold in compliant digital asset services, potentially accelerating adoption across Middle East and African markets while reinforcing the firm’s strategy of bridging traditional finance with digital currencies.
The most recent analyst rating on (AXG) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Solowin Holdings stock, see the AXG Stock Forecast page.
On January 9, 2026, Solowin Holdings filed a Form 6-K with the U.S. Securities and Exchange Commission, furnishing unaudited interim condensed consolidated financial statements and an operating and financial review for the six months ended September 30, 2025 and 2024. The filing, which is being incorporated by reference into the company’s existing shelf and employee share plan registration statements, significantly updates investors on Solowin’s capital structure and balance sheet, showing a sharp increase in total assets and equity driven largely by the recognition of substantial goodwill and investments, alongside growing exposures related to virtual asset services and customer receivables. This mid-year disclosure provides stakeholders with an interim view of the company’s financial position and indicates an expanding operational footprint in both traditional and virtual asset service lines, even as accumulated losses remain and new payables to virtual asset service providers appear on the balance sheet.
The most recent analyst rating on (AXG) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Solowin Holdings stock, see the AXG Stock Forecast page.
On December 31, 2025, Solowin Holdings entered into a securities purchase agreement with Fourth Paradigm International Limited to sell 512,821 Class A ordinary shares at $3.90 per share in a registered direct offering, for gross proceeds of $2 million. The financing, executed as a takedown from Solowin’s effective Form F-3 shelf registration, is expected to close on or about February 13, 2026, includes a six‑month lock-up on the purchaser’s ability to dispose of or hedge the new shares, and is intended to bolster the company’s working capital and general corporate resources, modestly strengthening its balance sheet while limiting immediate secondary market selling pressure.
The most recent analyst rating on (AXG) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Solowin Holdings stock, see the AXG Stock Forecast page.
On December 17, 2025, Solowin Holdings’ compensation committee granted a total of 578,900 stock options to purchase Class A ordinary shares at an exercise price of US$4.00 per share to selected directors, executive officers and employees under its Amended and Restated 2023 Equity Incentive Plan, including 60,000 options awarded to chief financial officer Lili Liu. The options will vest in equal quarterly installments from March 1, 2026 through December 1, 2028, reflecting the company’s continued use of long-term equity incentives to align key personnel with shareholder interests and support management retention over the next several years.
The most recent analyst rating on (AXG) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Solowin Holdings stock, see the AXG Stock Forecast page.
On November 25, 2025, Solowin Holdings entered into securities purchase agreements with two institutional investors to issue 3,782,895 class A ordinary shares at $3.04 per share, raising approximately $11.5 million. The investors agreed to a six-month lock-up period for the shares, and the company provided registration rights for two years if resale is not possible under Rule 144. The proceeds will be used for working capital and general corporate purposes, potentially enhancing Solowin’s operational capabilities and market position.
The most recent analyst rating on (AXG) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Solowin Holdings stock, see the AXG Stock Forecast page.
On November 12, 2025, Solowin Holdings announced a strategic collaboration with 4Paradigm to establish a joint venture focused on blockchain compliance and financial regulatory technology. This partnership aims to create a comprehensive compliance framework utilizing AI and blockchain technologies, providing solutions for digital-asset compliance and risk management. The collaboration is expected to enhance Solowin’s industry positioning by offering a globally leading compliance-monitoring platform, benefiting regulators, banks, and digital-asset exchanges worldwide.
The most recent analyst rating on (AXG) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Solowin Holdings stock, see the AXG Stock Forecast page.
Solowin Holdings, a company based in Hong Kong, announced on November 11, 2025, that it has appointed AOGB CPA Limited as its new independent registered public accounting firm, replacing WWC, P.C. This change was made after careful consideration and was approved by the company’s audit committee and board of directors. The decision was not due to any disagreements with WWC regarding accounting principles or practices. The audit reports from WWC for the fiscal years ending March 31, 2025, and 2024 were unqualified and contained no adverse opinions.
The most recent analyst rating on (AXG) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Solowin Holdings stock, see the AXG Stock Forecast page.