XMax Inc. (XMAX) Form 10-Q — Aug 14, 2026
XMax Inc. (formerly Nova LifeStyle) reported $32.6 million of net income for the six months ended June 30, 2026 versus a $0.6 million loss a year earlier, but the swing came almost entirely from a $42.9 million non-cash unrealized gain on its Level 3 Preamble Capital fund positions that hold SpaceX and xAI stakes. Excluding that mark, the operating loss widened to $1.75 million from $0.39 million, and the company booked a $7.81 million deferred tax charge on the gain.
Key figures
- Eps
- 0.62
- Revenue
- 4518442
- Net Income
- 32619883
- Total Debt
- approximately $5.37 million (incl. $5.2M convertible notes carrying value, other loans, and finance leases)
- Revenue Yoy
- -13.0% (six months ended June 30, 2026 vs 2025)
- Total Assets
- 121078781
- Cash Position
- 34626254
- Shares Outstanding
- 64523426
- Q2 2026 eps
- 0.53
- Q2 2026 revenue
- 2736721
- Authorized shares
- 5000000000
- Q2 2026 net income
- 32428369
- Unrealized gain 6m
- 42918751
- Unrealized gain q2
- 42124539
- Loan to third party
- 5300000
- Q2 2026 revenue yoy
- +7.1%
- Convertible note rate
- 6% per annum
- Income tax expense 6m
- 7809615
- Convertible note holder
- Billiongold Holding Limited
- Loan to third party rate
- 6% per annum
- Furniture revenue 6m 2025
- 5191941
- Furniture revenue 6m 2026
- 3420512
- Convertible note principal
- 5000000
- Share count increase 6m pct
- approximately 53%
- Api services revenue 6m 2026
- 1097930
- Api services cost of sales 6m
- 1196502
- Investment in fund fair value
- 73820917
- Shares issued to investors 6m
- 22203099
- Shares outstanding dec 31 2025
- 41885728
- Gross stock issuance proceeds 6m
- 45709150
- Convertible note conversion price
- 7.8
- Net cash from financing activities 6m
- 45298256
Price after filing
Close on the filing date to close N calendar days later (from $9.07). Historical, not a forecast.
AI analysis
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