Solowin Holdings, Ltd. is a US-listed company in the investment banking & brokerage industry. Its financial year ends in March.
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months was $28m, up 895.0% on a year earlier, against a decline of 34.3% a quarter earlier. The diluted share count is up 674.4% on a year earlier, which dilutes existing holders.
Our model value for Solowin Holdings is under review, so past values are not shown until it is resolved.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Solowin Holdings, Ltd.'s trailing-twelve-month revenue grew 895.0% year on year, with a free-cash-flow margin of -55.3%. Where it stands out: revenue growth of 895.0% ranks 1 of 40 investment banking & brokerage companies we cover. Where it lags: change in share count of 674.4% ranks 35 of 35 investment banking & brokerage companies we cover.
Current signal Free cash flow diverging from earnings: TTM free cash flow fell 1255.5% while net income fell 55.6%: a 1200pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for AXG from the sources we follow. See filings →
No model value for Solowin Holdings, Ltd. at the moment. Current status: no valuation model gives a value we can rate yet. Available reported financials are shown below.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
No analyst estimates are published for Solowin Holdings, Ltd.: too few analysts cover it.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY22 Q4 | $3.3M |
| FY23 Q4 | $4.5M |
| FY24 Q4 | $4.3M |
| FY25 Q4 | $2.8M |
| FY26 Q4 | $28M |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q4 | 36.8% |
| FY24 Q4 | -3.6% |
| FY25 Q4 | -34.3% |
| FY26 Q4 | 895.0% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY22 Q4 | -176.8% |
| FY23 Q4 | -10.1% |
| FY24 Q4 | -134.0% |
| FY25 Q4 | -40.6% |
| FY26 Q4 | -55.3% |
| Fiscal year | 2022 Mar 2022 | 2023 Mar 2023 | 2024 Mar 2024 | 2025 Mar 2025 | 2026 Mar 2026 |
|---|---|---|---|---|---|
| Income | |||||
| Revenue | 3 | 4 | 4 | 3 | 28 |
| EBITDA | 0 | 0 | 0 | — | — |
| Operating income | 0 | 0 | 0 | — | — |
| Net income | −1 | 1 | −5 | −9 | −13 |
| Diluted EPS | −$0.01 | $0.01 | −$0.04 | −$0.07 | −$0.11 |
| Growth (year on year) | |||||
| Revenue | — | +36.8% | −3.6% | −34.3% | +895.0% |
| EBITDA | — | −63.3% | — | — | — |
| Operating income | — | −68.9% | — | — | — |
| Net income | — | — | −437.7% | — | — |
| Diluted EPS | — | — | −400.0% | — | — |
| Margins | |||||
| EBITDA margin | 6.6% | 1.8% | 0.6% | — | — |
| Operating margin | 6.0% | 1.4% | 0.1% | — | — |
| Net margin | −30.1% | 30.3% | −106.2% | −302.9% | −47.4% |
| Free-cash-flow margin | −176.8% | −10.1% | −134.0% | −40.6% | −55.3% |
| Cash flow | |||||
| Cash from operations | −6 | −0 | −6 | −1 | −15 |
| Capital spending | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −6 | −0 | −6 | −1 | −16 |
| Stock-based pay | — | — | 4 | 3 | 3 |
| Free cash flow after stock pay | — | — | −10 | −4 | −19 |
| Balance sheet | |||||
| Cash | 1 | 2 | 2 | 4 | 17 |
| Total debt | 0 | 6 | 5 | 5 | 5 |
| Net debt (negative = net cash) | −1 | 4 | 3 | 1 | −12 |
| Diluted shares | 83m | 96m | 110m | 129m | 125m |
| Last 12 months unless stated | AXG | MATH | ARBK | NCTY | WTF | LGHL | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $28m | $37m | $16m | $15m | $11m | $9m | $2.0bn |
| Revenue growth, last 12 months | 895.0% | −16.7% | −67.0% | −3.3% | 48.8% | 657.5% | 20.7% |
| Gross margin | — | 41.4% | 1.8% | 1.7% | — | −392.5% | 3.6% |
| Operating margin | 0.1% | 3.6% | −86.3% | −260.5% | −131.1% | −27.6% | −2.3% |
| Net margin | −47.4% | 3.5% | 32.8% | −373.0% | −136.7% | −52.8% | 5.8% |
| Cash from operations / revenue | −54.7% | −40.0% | −161.1% | −29.4% | −63.7% | −37.5% | 7.7% |
| Free-cash-flow margin | −55.3% | −40.1% | −161.9% | −76.5% | −66.6% | −37.6% | 5.2% |
| Stock pay / revenue | 11.5% | 8.8% | 17.1% | 107.6% | 63.7% | 2.3% | 4.7% |
| Change in share count | 674.4% | 12.5% | 260.0% | 62.0% | 15.4% | 37.0% | 1.2% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 895.0% | 20.8% | 1 of 40 |
| Change in growth rate Growth | +929.3pp | -0.3pp | 1 of 40 |
| Net margin Profitability | -47.4% | 6.0% | 31 of 40 |
| Stock pay as % of revenue Cash generation | 11.5% | 4.8% | 28 of 36 |
| Change in share count Balance sheet | 674.4% | 1.2% | 35 of 35 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Morgan Stanley | $2.6M | 806K | 58.3% | ▼ 6.0% |
| SG Americas Securities, LLC | $848,000 | 259K | 18.7% | ▼ 0.4% |
| Geode Capital Management, LLC | $320,790 | 98K | 7.1% | 0.0% |
| SEB Asset Management AB | $189,964 | 58K | 4.2% | ▲ 0.8% |
| Blackrock, Inc. | $178,742 | 55K | 4.0% | ▲ 25.3% |
| UBS Group AG | $145,823 | 45K | 3.2% | ▲ 89.7% |
| Centiva Capital, LP | $68,755 | 21K | 1.5% | ▲ 84.1% |
| Engineers Gate Manager LP | $50,652 | 15K | 1.1% | ▼ 72.4% |
| Goldman Sachs Group Inc | $46,571 | 14K | 1.0% | ▼ 7.3% |
| Ameritas Advisory Services, LLC | $20,111 | 6K | 0.4% | New |
| Osaic Holdings, Inc. | $16,350 | 5K | 0.4% | ▲ 150.0% |
| Corecap Advisors, LLC | $2,453 | 1K | 0.1% | 0.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Solowin Holdings, Ltd.'s complete shareholder register. Values are as reported by the filers .
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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