INNEOVA Holdings Reports First Half 2026 Financial Results; Gross Margin Expands to 21.1%, and Net Income Rises 13% as Parts Services Integration Takes Hold
INNEOVA Holdings reported H1 2026 revenue of $25.8 million, down 16.2% year-over-year, hurt by weak automotive parts demand in Singapore and a $1.5 million drop in Middle East revenue tied to the war in the region. Against the top-line decline, gross margin expanded to 21.1% from 19.3%, operating expenses fell 2.1%, and net income rose 12.8% to $274,000 ($0.02 per share). Operating cash flow swung positive to $1.4 million and customer deposits nearly doubled to $10.5 million, while bank borrowings edged down to $18.7 million.
Key figures
- Eps
- 0.02
- Revenue
- 25800000
- Guidance
- Second-half priorities: restore revenue growth, complete commercial integration, scale Engineering Services, operationalise Senai hub
- Revenue Yoy
- -16.2%
- Net income
- 274000
- Gross margin
- 21.1%
- Gross profit
- 5400000
- Net income yoy
- 12.8%
- Bank borrowings
- 18700000
- Customer deposits
- 10500000
- Prior gross margin
- 19.3%
- Operating cash flow
- 1400000
- Shareholders equity
- 5200000
- Parts services revenue
- 24100000
- Cash and restricted cash
- 1000000
- Engineering services revenue
- 1700000
AI analysis
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