Solowin Holdings (AXG)
NASDAQ:AXG
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Solowin Holdings
(NASDAQ:AXG)
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Rating:40Underperform
Price Target:
$3.50
▼(-18.79% Downside)
Action:DowngradedDate:03/24/26
AXG scores low primarily due to deteriorating profitability and sustained negative cash flow, which raise operating and funding risk. Technicals add further pressure with price trading below key moving averages and negative MACD, while valuation is also constrained by a negative P/E and no dividend support.
Positive Factors
Rapid platform scale-up & AUA growth
AUA and trading volume surges indicate strong product-market fit and network effects on its SOLOMON and trading platforms. Sustained scale can drive platform revenues, lower unit costs, and create higher switching costs for institutional clients, supporting durable top-line expansion if maintained.
Negative Factors
Persistent negative operating cash flow
Multi-year negative operating and free cash flow signal the company has not converted revenue into sustainable cash generation. Continued cash burn raises structural funding risk, increasing dependency on external capital and constraining the firm's ability to self-fund growth or absorb shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid platform scale-up & AUA growth
AUA and trading volume surges indicate strong product-market fit and network effects on its SOLOMON and trading platforms. Sustained scale can drive platform revenues, lower unit costs, and create higher switching costs for institutional clients, supporting durable top-line expansion if maintained.
Read all positive factors
Solowin Holdings (AXG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$707.65M
Dividend YieldN/A
Average Volume (3M)854.96K
Price to Earnings (P/E)―
Beta (1Y)1.18
Revenue Growth181.41%
EPS Growth53.21%
CountryUS
Employees25
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)N/A
Shares Outstanding156,832,230
10 Day Avg. Volume1,239,555
30 Day Avg. Volume854,962
Financial Highlights & Ratios
PEG Ratio-0.11
Price to Book (P/B)5.42
Price to Sales (P/S)70.89
P/FCF Ratio-174.53
Enterprise Value/Market Cap0.22
Enterprise Value/Revenue160.91
Enterprise Value/Gross Profit807.55
Enterprise Value/Ebitda-191.05
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Solowin Holdings Business Overview & Revenue Model
Company Description
Solowin Holdings, an investment holding company, provides securities brokerage, corporate finance, investment advisory, and asset management services in Hong Kong. It operates Solomon Pro, a trading platform that allows investors to trade listed s...
Solowin Holdings Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
56
Neutral
Cash Flow
29
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 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
Negative
4.31
Price Trends
3.64
Negative
3.75
Negative
3.63
Negative
Market Momentum
-0.04
Positive
46.99
Neutral
45.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AXG, the sentiment is Negative. The current price of 4.31 is above the 20-day moving average (MA) of 3.55, above the 50-day MA of 3.64, and above the 200-day MA of 3.63, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 46.99 is Neutral, neither overbought nor oversold. The STOCH value of 45.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AXG.
Solowin Holdings Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $151.37M | 44.75 | 5.77% | 3.32% | 6.26% | 1779.57% | |
69 Neutral | $1.23B | 9.34 | 21.89% | ― | 56.68% | 159.90% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
59 Neutral | $1.02B | -11.53 | 10.36% | 0.99% | 18.88% | 26.40% | |
56 Neutral | $1.80B | 214.94 | -13.25% | 1.62% | -30.35% | ― | |
54 Neutral | $71.24M | -79.41 | 5.65% | ― | 12.28% | -61.57% | |
40 Underperform | $707.65M | -77.00 | -0.47% | ― | 181.41% | 53.21% |
* Financial Sector Average
AXG
Solowin Holdings
3.76
2.14
132.10%
OPY
Oppenheimer Holdings
96.39
37.89
64.76%
SIEB
Siebert Financial
1.74
-1.99
-53.35%
WHG
Westwood Holdings Group
15.96
0.90
5.95%
TIGR
Up Fintech Holding
6.93
-2.24
-24.43%
PWP
Perella Weinberg Partners
19.34
2.81
16.99%
Solowin Holdings Corporate Events
Solowin Holdings Posts Tenfold Revenue Jump on Tokenization and Stablecoin Push
Apr 21, 2026
On April 21, 2026, Solowin Holdings reported preliminary, unaudited results for the fiscal year ended March 31, 2026, highlighting nearly tenfold year-on-year revenue growth to an estimated $27 million–$29 million, driven by digital asset to...
Solowin Holdings Backs Libeara’s Latest Funding Round to Deepen Regulated Tokenization Push
Apr 10, 2026
On April 10, 2026, Solowin Holdings announced that its venture arm, AlloyX Ventures Limited, participated in a new funding round for Libeara, a Singapore-based regulated real‑world asset tokenization platform backed by SC Ventures. The move ...
Solowin Holdings Secures Up to $100 Million in Pre-Paid Share Purchase Financing
Feb 9, 2026
On February 9, 2026, Solowin Holdings entered into a securities purchase agreement with Streeterville Capital, enabling the company to sell up to $100 million of class A ordinary shares through one or more pre-paid purchase structures. The deal in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.