Marwynn | 10-Q: FY2026 Q3 Revenue: USD 1.384 M

Revenue: As of FY2026 Q3, the actual value is USD 1.384 M.EPS: As of FY2026 Q3, the actual value is USD -0.03.EBIT: As of FY2026 Q3, the actual value is USD -587.75 K.Segment RevenueFor the three months ended January 31, 2026, compared to January 31, 2025:Total Revenues: Marwynn Holdings, Inc. reported total revenues of $1,383,941 for the three months ended January 31, 2026, an increase of $760,232 or 121.89% compared to $623,709 for the same period in 2025 .Sale of Food and Beverage: Revenue decreased by $239,768, or -41.34%, to $340,192 in 2026 from $579,960 in 2025 .Consulting Services: Revenue remained consistent at $43,749 for both periods .Sale of Recyclable E-waste Materials: This new segment generated $1,000,000 in revenue for the three months ended January 31, 2026, with no comparable revenue in 2025 .For the nine months ended January 31, 2026, compared to January 31, 2025:Total Revenues: Total revenues increased by $708,358 or 93.13% to $1,468,941 in 2026 from $760,583 in 2025 .Sale of Food and Beverage: Revenue decreased by $284,654 or -45.56% to $340,192 in 2026 from $624,846 in 2025, primarily due to decreased purchase orders from Costco .Consulting Services: Revenue decreased by $6,988 or -5.15% to $128,749 in 2026 from $135,737 in 2025 .Sale of Recyclable E-waste Materials: This segment generated $1,000,000 in revenue for the nine months ended January 31, 2026, with no comparable revenue in 2025 .Operational MetricsFor the three months ended January 31, 2026, compared to January 31, 2025:Cost of Revenues: Total cost of revenues increased by $921,205 or 243.01% to $1,300,286 in 2026 from $379,081 in 2025, primarily due to higher costs in the new recyclable e-waste materials segment .Sale of Food and Beverage: Cost of revenues was $270,666 in 2026, down from $328,182 in 2025 .Consulting Services: Cost of revenues was $58,746 in 2026, up from $50,900 in 2025 .Sale of Recyclable E-waste Materials: Cost of revenues was $970,874 in 2026 .Gross Profit: Gross profit decreased by $160,973 or -65.80% to $83,655 in 2026 from $244,628 in 2025 .Blended Gross Profit Margin: The margin was 6.04% in 2026, down from 39.22% in 2025 .Sale of Food and Beverage Gross Profit: Decreased by 72.39% .Consulting Services Gross Profit: Decreased by 109.74% .Sale of Recyclable E-waste Materials Gross Profit: Increased by 100.0% .Selling Expenses: Decreased by $25,708 or -99.95% to $14 in 2026 from $25,722 in 2025 .General and Administrative Expenses: Increased by $500,425 or 371.17% to $635,248 in 2026 from $134,823 in 2025 .Loss from Operations: Marwynn Holdings, Inc. reported a loss from operations of - $551,607 in 2026, compared to an income of $84,083 in 2025 .Net Loss from Continuing Operations: Increased by $628,562 or 783.49% to - $548,336 in 2026 from an income of $80,226 in 2025 .Net Loss from Discontinued Operations: Was nil in 2026, compared to - $56,808 in 2025 .Net Loss (Overall): Increased by $571,754 or 2,441.52% to - $548,336 in 2026 from an income of $23,418 in 2025 .For the nine months ended January 31, 2026, compared to January 31, 2025:Cost of Revenues: Increased by $871,976 or 203.56% to $1,300,338 in 2026 from $428,362 in 2025 .Sale of Food and Beverage: Cost of revenues decreased by $81,248 or -23.09% to $270,666 in 2026 from $351,914 in 2025 .Consulting Services: Cost of revenues decreased by $17,650 or -23.09% to $58,798 in 2026 from $76,448 in 2025 .Sale of Recyclable E-waste Materials: Cost of revenues was $970,874 in 2026 .Gross Profit: Decreased by $163,618 or -49.25% to $168,603 in 2026 from $332,221 in 2025 .Blended Gross Profit Margin: The margin was 11.48% in 2026, down from 43.68% in 2025 .Sale of Food and Beverage Gross Profit: Decreased by 74.53% .Consulting Services Gross Profit: Increased by 17.98% .Sale of Recyclable E-waste Materials Gross Profit: Increased by 100.0% .Selling Expenses: Increased by $1,227,844 or 1,422.14% to $1,314,182 in 2026 from $86,338 in 2025 .General and Administrative Expenses: Increased by $1,445,485 or 153.36% to $2,388,059 in 2026 from $942,574 in 2025 .Loss from Operations: Marwynn Holdings, Inc. reported a loss from operations of - $3,533,638 in 2026, compared to - $696,691 in 2025 .Net Loss from Continuing Operations: Increased by $2,814,078 or 399.93% to - $3,517,720 in 2026 from - $703,642 in 2025 .Net Loss from Discontinued Operations: Was - $646,656 for the period from May 1, 2025, to December 22, 2025, compared to an income of $284,160 for the nine months ended January 31, 2025 .Net Loss (Overall): Increased by $3,744,894 or 892.74% to - $4,164,376 in 2026 from - $419,482 in 2025 .Cash FlowFor the nine months ended January 31, 2026, compared to January 31, 2025:Net Cash Used in Operating Activities (Continuing Operations): Increased to - $1,302,397 in 2026 from - $1,048,122 in 2025 .Net Cash Provided by Operating Activities (Discontinued Operations): Decreased to $198,788 in 2026 from $767,410 in 2025 .Net Cash Used in Operating Activities (Total): Increased to - $1,103,609 in 2026 from - $280,712 in 2025 .Net Cash Used in Investing Activities (Continuing Operations): Was - $880,000 in 2026, compared to nil in 2025, mainly due to loans to Bio Essence Pharmaceutical and Valemi Inc. .Net Cash Used in Investing Activities (Discontinued Operations): Decreased to - $11,900 in 2026 from - $56,772 in 2025 .Net Cash Used in Investing Activities (Total): Increased to - $891,900 in 2026 from - $56,722 in 2025 .Net Cash Provided by (Used in) Financing Activities (Continuing Operations): Increased to $1,607,213 in 2026 from - $14,289 in 2025 .Net Cash Used in Financing Activities (Discontinued Operations): Decreased to - $382,428 in 2026 from - $756,961 in 2025 .Net Cash Provided by (Used in) Financing Activities (Total): Increased to $1,224,785 in 2026 from - $771,250 in 2025 .Cash and Cash Equivalents, End of Period: Increased to $491,150 in 2026 from $256,046 in 2025 .Unique MetricsAllowance for Credit Losses (Continuing Operations): $43,749 as of January 31, 2026, compared to nil as of April 30, 2025 .Total Reportable Assets (by segment as of January 31, 2026): Sale of food and beverage: $1,701,082; Consulting services: $1,032,487; Sale of e-waste materials: $29,086 .Share-based Compensation Expense: $29,291 for the three months ended January 31, 2026, and $87,875 for the nine months ended January 31, 2026 .Note Receivables: $830,000 outstanding as of January 31, 2026, including loans to Bio Essence Pharmaceutical and Valemi Inc. .Prepaid Service Fee: $416,385 as of January 31, 2026, representing unamortized balances for various service agreements .Future Outlook and StrategyMarwynn Holdings, Inc. plans to increase FuAn’s revenue by diversifying its markets and becoming a vendor to major food distributors . The company aims to maximize the efficiency and profitability of its core supply chain consulting and food distribution business through the disposal of Grand Forest Cabinetry Inc. . Additionally, Marwynn Holdings, Inc. is expanding into the e-waste reverse supply chain business via EcoLoopX Corporation to align with long-term growth objectives and capture emerging market opportunities .Liquidity OutlookMarwynn Holdings, Inc. incurred a net loss from continuing operations of approximately - $3.52 million and a net loss from discontinued operations of approximately - $0.65 million for the nine months ended January 31, 2026, with a cash outflow from operating activities from continuing operations of approximately - $1.30 million . These conditions raise substantial doubt about the company’s ability to continue as a going concern within one year from the issuance date of the financial statements . The company may need additional cash resources and may seek to issue debt or equity securities or obtain a credit facility to fund future operations, investments, acquisitions, or strategic actions if cash requirements exceed current amounts .