Executive Summary
AHG reported QQ1 2024 revenue of USD 446,792 with gross profit of USD 19,415 and a gross margin of 4.3%. Operating income deteriorated to a loss of USD (1,157,924) representing an operating margin of approximately -2.59%, and net income declined to USD (1,532,088) for a net margin of roughly -3.43%. The YoY revenue drop of 92.5% and net income decline of 287.9% underscore a material step-down in activity and an earnings trajectory that remains adverse despite a modest top-line improvement QoQ relative to prior periods. In the quarter, cash flow from operations was positive at USD 121,168 and free cash flow stood at USD 121,168, contributing to a robust cash balance of USD 9,211,639 and net debt of USD 824,513. Balance sheet health is characterized by solid liquidity and a heavy accumulated deficit: total assets USD 16.88 million, current assets USD 16.88 million with current liabilities USD 11.55 million, cash and equivalents USD 9.21 million, short-term debt USD 10.04 million, retained earnings deeply negative at USD -57.93 million, and total stockholders’ equity around USD 5.22 million. The stock trades with a price-to-sales multiple near 6x and a negative earnings multiple, reflecting the earnings erosion and a nascent profitability profile. While liquidity supports near-term operations, the company faces meaningful profitability restoration challenges ahead.
Key Performance Indicators
QoQ: -32.53% | YoY:-92.46%
QoQ: -72.87% | YoY:-96.55%
QoQ: 83.51% | YoY:-951.89%
QoQ: 79.33% | YoY:-287.90%
QoQ: 79.80% | YoY:-302.63%
Key Insights
Revenue: 446,792; YoY: -92.46%; QoQ: -32.53%
Gross Profit: 19,415; Gross Margin: 4.35%; YoY: -96.55%; QoQ: -72.87%
Operating Income: -1,157,924; Operating Margin: -2.59%; YoY: large negative swing; QoQ: improvement vs prior quarter signaled by activity level but still negative
Net Income: -1,532,088; Net Margin: -3.43%; YoY: -287.90%; QoQ: +79.33% (reflecting nonlinear quarterly movements)
EPS (Diluted): -0.20; YoY: -302.63%; QoQ: +79.80%
Cash Flow and Liquidity: Net cash provided by operating a...
Financial Highlights
Revenue: 446,792; YoY: -92.46%; QoQ: -32.53%
Gross Profit: 19,415; Gross Margin: 4.35%; YoY: -96.55%; QoQ: -72.87%
Operating Income: -1,157,924; Operating Margin: -2.59%; YoY: large negative swing; QoQ: improvement vs prior quarter signaled by activity level but still negative
Net Income: -1,532,088; Net Margin: -3.43%; YoY: -287.90%; QoQ: +79.33% (reflecting nonlinear quarterly movements)
EPS (Diluted): -0.20; YoY: -302.63%; QoQ: +79.80%
Cash Flow and Liquidity: Net cash provided by operating activities 121,168; Free cash flow 121,168; Net change in cash 1,153,430; Cash at end of period 1,153,430; Cash & Equivalents 9,211,639; Total current assets 16,880,618; Total assets 16,880,618
Liquidity & Leverage: Current ratio 1.462; Quick ratio 1.355; Cash ratio 0.798; Short-term debt 10,036,152; Net debt 824,513; Total debt to equity 1.921; Debt ratio 0.595; P/S 5.97; P/B 0.511; P/E negative; ROE -29.3%; ROA -9.08%
Cash Flow Quality: Operating cash flow stability aided by working capital movements and non-cash items (Depreciation & Amortization shown as 1,157,924); Positive operating cash flow despite net loss, highlighting potential for cash-based relief if profitability improves.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
446.79K |
-92.46% |
-32.53% |
| Gross Profit |
19.42K |
-96.55% |
-72.87% |
| Operating Income |
-1.16M |
-951.89% |
83.51% |
| Net Income |
-1.53M |
-287.90% |
79.33% |
| EPS |
-0.20 |
-302.63% |
79.80% |
Key Financial Ratios
operatingProfitMargin
-259%
operatingCashFlowPerShare
$0.01
freeCashFlowPerShare
$0.01
Management Commentary
Transcript highlights unavailable: there is no earnings call transcript provided for QQ1 2024 in the dataset; consequently, no management quotes or thematic quotes can be extracted.
Forward Guidance
No explicit forward guidance was issued within the provided data. The analysis therefore rests on qualitative assessment and benchmarks: (1) Base case assumes revenue remains depressed near QQ1 2024 levels with continued negative earnings unless operating costs are meaningfully reduced. (2) Upside requires a material revenue recovery (e.g., stabilization or growth in the platform’s GMV/activity) coupled with aggressive cost rationalization, particularly within General & Administrative expenses. (3) Key factors investors should monitor include: stabilization/repair of gross margin, achieving positive EBIT, reductions in debt and cost of capital, and the efficiency of cash conversion cycles. Without formal guidance, the achievability of improvement hinges on (a) platform monetization, (b) user retention and GMV growth, (c) cost discipline, and (d) external market conditions in the company’s core markets.