Maison Solutions Inc. announced its financial results for the fiscal year ended April 30, 2025, on August 14, 2025. Total net revenues for fiscal year 2025 increased by 114.0% to $124.2 million, up from $58.0 million in the prior fiscal year, meeting its previously disclosed revenue guidance.
The company achieved a net income of $1.17 million for FY2025, a significant turnaround from a $3.34 million net loss in FY2024. Gross profit rose to $26.3 million from $11.6 million, with gross margin improving to 21.3% from 20.0%. However, total operating expenses increased to $27.6 million, up $13.3 million from FY2024, primarily due to the Lee Lee acquisition.
Despite the revenue growth and net income turnaround, Maison Solutions reported negative working capital of $9.82 million and an accumulated deficit of $1.65 million as of April 30, 2025. These conditions raise substantial doubt about the company's ability to continue as a going concern, as noted by its independent registered public accounting firm. The company generated $4.76 million in cash flow from operations and $4.58 million in free cash flow in FY2025, a positive shift from the prior year.
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