HWH

MKT CAP:$6M

HWH International Inc.

Market Cap

$6M

Consumer Cyclical·Leisure·🇺🇸 United States·NASDAQ

Consumer Cyc.·Leisure·🇺🇸·NASDAQ

Stock Price

$1.17-$0.38 (-24.52%)

Apr 20, 2026

Company Details

HWH International Inc. operates a marketplace platform to provide products and services for health, wealth, and happiness. It operates HWH Marketplace, a marketing place; Hapi Café; Hapi Travel Destination platform to book travel, hotel, an...

CEO

Heng Fai Chan

IPO Date

Mar 24, 2022

Website

www.hwhintl.com

Key Metrics TTM

Revenue

$789.2K

-10.8% YoY

Net Income

-$2M

EPS (Diluted)

-$0.17

Free Cash Flow

-$2M

Revenue / Share

$0.05

Gross Margin

53.4%

Operating Margin

-315.8%

Net Margin

-292.6%

FCF Margin

-240.8%

P/S

7.9x

P/E

—

Earnings Reports

FY 2025

Mar 25, 2026

$866.9K-30.8%EPS -$0.40

Q1 2025

May 15, 2025

$295.2K+3.2%EPS -$0.03

FY 2024

Mar 31, 2025

$1MEPS -$0.16

Q1 2024

Mar 30, 2024

$286.1K+42.7%EPS -$0.09

Q4 2023

Nov 28, 2023

$207.9K+9.5%EPS -$0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$2M	$819.8K	$683.2K
Q2 21	$2M	$819.8K	$683.2K
Q3 21	$1M	$334.0K	$241.9K
Q1 22	$0	$0	-$45.9K
Q2 22	$0	$0	-$128.8K
Q3 22	$298.9K	$222.4K	-$223.3K
Q4 22	$189.8K	$94.5K	-$320.2K
Q1 23	$200.6K	$122.8K	-$613.6K
Q2 23	$195.2K	$121.6K	-$237.0K
Q3 23	$0	$0	-$395.8K
Q4 23	$207.9K	$110.9K	-$613.7K
Q1 24	$286.1K	$163.3K	-$965.9K
Q1 25	$295.2K	$147.6K	-$516.6K

Valuation

Quarter	P/S	P/E
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q1 22	125.5x	434.4x
Q2 22	206.1x	882.0x
Q3 22	353.3x	—
Q4 22	967.0x	—
Q1 23	675.8x	—
Q2 23	483.2x	5699.0x
Q3 23	742.5x	13928.2x
Q4 23	716.2x	2717.1x
Q1 24	105.9x	—
Q1 25	26.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$668.3K	$668.3K
Q2 21	$668.3K	$668.3K
Q3 21	-$432.1K	-$470.9K
Q1 22	$9.0K	$9.0K
Q2 22	-$88.6K	-$88.6K
Q3 22	-$106.2K	-$106.2K
Q4 22	-$1M	-$1M
Q1 23	$262.3K	$254.0K
Q2 23	-$479.8K	-$479.8K
Q3 23	-$473.8K	-$473.8K
Q4 23	-$230.5K	-$230.5K
Q1 24	-$638.2K	-$640.3K
Q1 25	-$555.3K	-$555.3K

Capital Expenditures

Quarter	CapEx
Q1 21	$0
Q2 21	$0
Q3 21	$38.8K
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$17.3K
Q1 23	$8.2K
Q2 23	$158
Q3 23	$0
Q4 23	$0
Q1 24	$2.1K
Q1 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-100.0%	-87.3%
Q3 22	-82.4%	-48.4%
Q4 22	-81.2%	-33.5%
Q1 23	—	+1674.9%
Q2 23	—	+235.5%
Q3 23	-100.0%	-24.2%
Q4 23	+9.5%	+61.1%
Q1 24	+42.7%	+53.8%
Q1 25	+51.2%	+87.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q1 22	$0	—
Q2 22	$0	—
Q3 22	$0	—
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	—
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q1 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 21	$73.2K	$63.4K	—
Q2 21	$73.2K	$63.4K	—
Q3 21	$15.6K	$76.5K	—
Q1 22	—	—	$45.9K
Q2 22	—	—	$128.8K
Q3 22	$312.5K	$133.2K	—
Q4 22	$311.6K	$103.1K	—
Q1 23	$736.4K	—	—
Q2 23	$582.5K	—	—
Q3 23	—	—	$345.8K
Q4 23	$421.7K	$192.0K	—
Q1 24	$1M	—	—
Q1 25	$664.2K	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2M	$0	$2M
Q2 22	$2M	$0	$2M
Q3 22	$2M	$0	$2M
Q4 22	$2M	$0	$2M
Q1 23	$2M	$0	$2M
Q2 23	$1M	$0	$1M
Q3 23	$812.3K	$0	$812.3K
Q4 23	$585.7K	$0	$585.7K
Q1 24	$974.6K	$0	$974.6K
Q2 24	$821.4K	$0	$821.4K
Q3 24	$832.4K	$0	$832.4K
Q4 24	$4M	$0	$4M
Q1 25	$4M	$0	$4M
Q2 25	$4M	$100.5K	$4M
Q3 25	$3M	$223.7K	$3M
Q4 25	$2M	$84.5K	$2M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	10M	—	—
Q2 21	10M	0.0%	—
Q3 21	10M	0.0%	—
Q1 22	11M	+7.3%	—
Q2 22	11M	+6.8%	+14.7%
Q3 22	11M	0.0%	+14.7%
Q4 22	9M	-16.9%	-4.7%
Q1 23	9M	0.0%	-11.3%
Q2 23	9M	-3.1%	-19.5%
Q3 23	8M	-9.3%	-27.0%
Q4 23	8M	0.0%	-12.1%
Q1 24	15M	+80.0%	+58.3%
Q1 25	17M	+12.7%	+84.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q1 25	$18.4K	16

Revenue / Employee