Filing Flows › Alset (AEI) › Q4 2025
Alset (AEI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Alset (AEI) reported revenue of $1.3M for the fourth quarter 2025 (Q4 2025), -85% from a year earlier and +31% from the quarter before. Operating margin was -451.0%.
Alset, Q4 2025: revenue $1.3M (-85% year over year), operating margin -451.0%, net loss $33.0M, operating cash flow −$436K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3M | +31% | -85% |
| Operating profit | −$5.9M | — | -406% |
| Net earnings | −$33.0M | -1779% | -1517% |
| Operating cash flow | −$436K | -149% | -103% |
What changed
Revenue was $1.3M in Q4 2025, down 85% year over year and up 31% from the previous quarter. Real Estate Segment was the largest line at 54% of revenue.
Gross margin was 35.2%, down 16.2 points from Q4 2024. Operating costs exceeded revenue by $5.9M, an operating margin of -451.0%. Operating expenses grew 137% against a revenue fall of 85%. The fastest-growing cost line was General & admin (+141%). The quarter ended with a net loss of $33.0M, after a profit of $2.0M the previous quarter. Minority interests bore $596K of it: to shareholders the quarter was a loss of $32.4M. Net interest and other expense of $26.7M was the main reason.
Operating cash flow was −$436K. Non-cash charges added back $258K of depreciation and $1.6M of share-based compensation. Working capital and other items added $30.7M. Capital expenditures of −$30K exceeded it, leaving free cash flow of −$406K.
Questions
What was Alset's revenue in the fourth quarter 2025?
Alset (AEI) reported revenue of $1.3M for the fourth quarter 2025 (Q4 2025), -85% from a year earlier and +31% from the quarter before.
Was Alset profitable in the fourth quarter 2025?
Operating loss was $5.9M (-451.0% of revenue) and net loss $33.0M.
Source: Alset 10-K on SEC EDGAR.