Armlogi Holding Corp
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Armlogi Holding Corp AI Insights
Informational only. Not investment advice.Snapshot
- Gross margin NEGATIVE at -0.95% TTM - costs exceed revenue by 1.9M, structural pricing/cost problem[Gross Margin TTM]
- Debt-to-equity of 5.6x with 124M debt on 22M equity - highly leveraged with 93M long-term debt[Debt to Equity]
- FCF positive at 1.6M TTM despite losses - asset-heavy model (121M PPE) generating minimal cash[Free Cash Flow TTM]
Watch Triggers
- Gross Margin TTM: Turns positive (>0%) — Only path to survival - current model loses money on every transaction
- Cash and Equivalents: Falls below 3M — At 6.5M now with -17M annual burn; triggers going concern risk
- Total Debt: Covenant breach or refinancing news — 124M debt on 22M equity; any acceleration is fatal
Bull Case
Asset turnover of 1.26x (vs 0.55x median) shows operational efficiency; 121M PPE could support revenue scale without capex
P/S of 0.13x vs 0.90x median - if gross margin turns positive, valuation re-rates significantly
Bear Case
Negative gross margin (-0.95%) is existential - no path to profitability without pricing power or cost restructuring
Working capital of -11M with 5.6x leverage creates liquidity trap; 1.3M interest expense on shrinking cash
Bull vs Bear Balance
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Forward Thesis
Without gross margin turnaround, equity erosion accelerates within 12-18 months
- Negative gross margin means every sale destroys value
- 22M equity vs 17M annual net loss = ~15 months runway
- 5.6x leverage limits refinancing options
Valuation Context
Caveats
Public Strategies Rankings
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BTOC Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$12.41M | — | ||
$131.4M | — | ||
0.00 | — | ||
$197.8M | +11.5% | — | |
$-0.46 | — | ||
-9.53% | -3.4% | — | |
-9.81% | -6.8% | — | |
$5.84M | — | ||
-75.1% | -58.7% | — | |
Beta 5Y (Monthly) | unknown | — |
BTOC Dividend History
BTOC Stock Splits
BTOC SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/17/26 | 12/31/25 | 10-Q | |
11/13/25 | 09/30/25 | 10-Q | |
09/25/25 | 06/30/25 | 10-K | |
05/14/25 | 03/31/25 | 10-Q | |
02/14/25 | 12/31/24 | 10-Q | |
11/14/24 | 09/30/24 | 10-Q | |
09/26/24 | 06/30/24 | 10-K | |
06/11/24 | 03/31/24 | 10-Q | |
05/15/24 | 12/31/23 | 424B4 | |
11/14/24 | 09/30/23 | 10-Q | |
05/15/24 | 06/30/23 | 424B4 | |
09/25/23 | 03/31/23 | S-1 | |
05/15/24 | 12/31/22 | 424B4 | |
09/25/23 | 06/30/22 | S-1 | |
09/25/23 | 03/31/22 | S-1 |