Filing Flows › HWH International (ESYN) › Q4 2025
HWH International (ESYN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 26, 2026
HWH International (ESYN) reported revenue of $55K for the fourth quarter 2025 (Q4 2025), -81% from a year earlier and -74% from the quarter before.
HWH International, Q4 2025: revenue $55K (-81% year over year), net loss $1.9M, operating cash flow −$1.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $55K | -74% | -81% |
| Operating profit | −$1.9M | — | — |
| Net earnings | −$1.9M | — | — |
| Operating cash flow | −$1.0M | — | — |
What changed
Revenue was $55K in Q4 2025, down 81% year over year and down 74% from the previous quarter.
Gross margin was 72.7%, up 33.1 points from Q4 2024. Operating costs exceeded revenue by $1.9M, an operating margin of -3569.1%. Operating expenses grew 230% against a revenue fall of 81%. The quarter ended with a net loss of $1.9M, wider than the previous quarter's $300K loss. Minority interests bore $2K of it: to shareholders the quarter was a loss of $1.9M.
Operating cash flow was −$1.0M. Working capital and other items added $925K. Capital expenditures of $0K exceeded it, leaving free cash flow of −$1.0M.
Questions
What was HWH International's revenue in the fourth quarter 2025?
HWH International (ESYN) reported revenue of $55K for the fourth quarter 2025 (Q4 2025), -81% from a year earlier and -74% from the quarter before.
Source: HWH International 10-K on SEC EDGAR.