--- title: "Aureus Greenway | 10-Q: FY2026 Q1 Revenue: USD 1.469 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286104911.md" datetime: "2026-05-12T13:02:41.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286104911.md) - [en](https://longbridge.com/en/news/286104911.md) - [zh-HK](https://longbridge.com/zh-HK/news/286104911.md) --- # Aureus Greenway | 10-Q: FY2026 Q1 Revenue: USD 1.469 M Revenue: As of FY2026 Q1, the actual value is USD 1.469 M. EPS: As of FY2026 Q1, the actual value is USD -0.03. EBIT: As of FY2026 Q1, the actual value is USD -1.564 M. Aureus Greenway Holdings Inc. operates as a single segment, encompassing golf operations, sales of merchandise, food and beverage, and ancillary services . #### Segment Revenue Total revenue for the three months ended March 31, 2026, was $1,469,378, an 11% increase from $1,328,371 in the same period of 2025 . **Golf Operations**: Revenue increased by 10% to $1,129,573 in 2026 from $1,028,940 in 2025, driven by a 107% increase in annual membership dues to $70,767 and a 6% increase in one-time green fees to $1,058,806 . The increase in one-time green fees was attributed to a 7% rise in average price per round to $48, while the total number of rounds remained stable at approximately 22,000 . **Sales of Food and Beverage**: Revenue grew by 8% to $244,805 in 2026 from $225,803 in 2025, primarily due to a 4% increase in quantities sold, consistent with the rise in golf operations . **Sales of Merchandise**: Revenue increased by 31% to $58,288 in 2026 from $44,504 in 2025, mainly due to higher sales of men’s wear, golf balls, and headwear . **Ancillary Revenue**: Revenue increased by 26% to $36,712 in 2026 from $29,124 in 2025, reflecting higher demand for rental services for activities and events . #### Operational Metrics - **Net Loss**: The company reported a net loss of - $1,259,899 for the three months ended March 31, 2026, compared to a net income of $266,212 for the same period in 2025, primarily due to operating costs increasing at a higher rate than revenue and other income . - **Operating Loss**: Operating loss was - $1,458,986 in 2026, a significant decrease from operating income of $353,037 in 2025 . - **Total Operating Costs**: Operating costs increased by 200% to $2,928,364 in 2026 from $975,334 in 2025 . - **Golf Operating Costs**: Increased by 22% to $395,808 in 2026 from $323,259 in 2025 due to higher contractual prices for maintenance . - **Cost of Food and Beverage Sales**: Increased by 2% to $67,472 in 2026 from $65,882 in 2025, in line with revenue growth . - **Cost of Merchandise Sales**: Increased by 28% to $29,873 in 2026 from $23,298 in 2025, consistent with higher merchandise sales . - **Salaries and Benefits**: Increased by 380% to $1,316,175 in 2026 from $273,987 in 2025, primarily due to $996,000 in stock-based compensation and an approximate $50,000 increase in directors’ fees . - **Depreciation**: Increased by 26% to $63,750 in 2026 from $50,784 in 2025, mainly due to capital additions for new greens and clubhouse renovations in 2025 . - **Other General and Administration Expenses**: Increased by 343% to $1,055,286 in 2026 from $238,124 in 2025, due to $438,750 in stock-based compensation for a consultant, increased legal and consulting fees, travel expenses, director’s and officer’s liability insurance, and advertising and marketing expenses . - **Income Tax Expenses**: Totaled $91,035 in 2026, down from $144,329 in 2025 . The company had $811,392 in net operating losses (NOLs) as of March 31, 2026, which can be carried forward indefinitely . #### Cash Flow - **Net Cash Provided by Operating Activities**: Net cash provided by operating activities was $385,085 in 2026, a significant improvement from net cash used of - $81,193 in 2025 . - **Net Cash Used in Investing Activities**: Net cash used increased to - $20,027,014 in 2026 from - $8,146 in 2025, primarily due to a $20,000,000 investment in a convertible note . - **Net Cash Provided by Financing Activities**: Net cash provided was $8,493,590 in 2026, compared to $7,954,375 in 2025, including $8,073,933 from common stock issues and $601,500 from warrant exercises in 2026 . - **Net Change in Cash and Cash Equivalents**: Cash and cash equivalents decreased by - $11,148,339 in 2026, compared to an increase of $7,865,036 in 2025 . The ending balance of cash and cash equivalents was $17,519,830 as of March 31, 2026 . #### Unique Metrics - **Investment in Convertible Note**: As of March 31, 2026, the company held an investment in a convertible note with a carrying amount of $20,049,315, maturing on March 23, 2027, and bearing a 10% annual interest rate . Interest income from this note was $49,315 for the three months ended March 31, 2026 . - **Working Capital**: Net working capital increased by 34% to $37,123,325 as of March 31, 2026, from $27,788,300 as of December 31, 2025 . - **Capital Expenditures**: Capital expenditures were $27,014 for the three months ended March 31, 2026, mainly for clubhouse improvements, compared to $14,924 in the prior year period . - **Vendor Concentration Risk**: As of March 31, 2026, 91% of accounts payable were owed to one key supplier, who also accounted for 11% of total operating costs for the three months ended March 31, 2026 . #### Future Outlook and Strategy Management plans to continue promoting, marketing, managing, and operating its golf country clubs over the next twelve months to attract and retain customers, build loyalty, and increase revenue . The strategy involves maintaining and improving customer experiences, building on major renovations, and aiming to improve operational efficiency, reduce costs, and enhance efficiency . Management believes existing cash and cash equivalents, cash flows from operations, and recent financing activities provide sufficient liquidity for at least the next twelve months . #### Material Weaknesses Management identified material weaknesses in internal control over financial reporting, including inadequate segregation of duties due to limited staff and a lack of sufficient financial reporting and accounting personnel with appropriate U.S. GAAP and SEC reporting knowledge . The company plans to address these by hiring additional qualified personnel and enhancing formal documentation of policies and controls . ### Related Stocks - [AGH.US](https://longbridge.com/en/quote/AGH.US.md) - [PUSA.US](https://longbridge.com/en/quote/PUSA.US.md) ## Related News & Research - [Aureus Greenway says Powerus lands $50M ESG raise pre-merger](https://longbridge.com/en/news/282213581.md) - [Aureus Greenway Holdings Inc. Announces Closing of $9.0 Million Private Placement | AGH Stock News](https://longbridge.com/en/news/278771269.md) - [AngloGold Ashanti (AU) Valuation After Q1 Beat Dividend Record And Buyback Amid Safety And Regulatory Shifts](https://longbridge.com/en/news/286944654.md) - [Gorilla Gold Mines Sees Insider Stock Selling](https://longbridge.com/en/news/286824427.md) - [The Gold Projects Getting Funded All Have One Thing in Common | AU Stock News](https://longbridge.com/en/news/285086833.md)