AGM Group Holdings Inc.

What they do

AGM Group Holdings operates through several subsidiaries: AGM Software (55%-owned) provides software services; AGM Electronic Technology Limited (Hong Kong) and AGM Integrated Tech Limited (Hong Kong) are wholly-owned; AGM Canada Holdings Limited is wholly-owned and holds a 49% interest in AGM Energy Corp. The company also has a wholly-owned subsidiary in Hong Kong. Its operations span computer programming services, electronic technology, and energy-related activities.

Revenue drivers

• Software services (AGM Software) — Provided by the 55%-owned subsidiary AGM Software Service LTD (now KOI Global Ltd); this is a core revenue segment, though specific revenue split is not disclosed in the excerpt.
• Electronic technology (AGM Electronic) — Hong Kong subsidiary focused on electronic technology; likely a primary revenue contributor given the company's SIC classification.
• Integrated technology (AGM Integrated) — Wholly-owned Hong Kong subsidiary; may contribute to revenue through technology integration services.
• Energy (AGM Energy) — 49%-owned by AGM Canada, representing an equity method investment; not consolidated but may provide income or losses.

Recent performance

For fiscal year 2025, revenue was $30.6M, down from $32.0M in 2024 and down sharply from $203.1M in 2022. Net income in 2025 was $561,630, down from $3.1M in 2024. Diluted EPS was $0.32 in 2025, compared to $6.44 in 2024 (2023 had negative EPS of -$15.33). Operating cash flow was negative $4.1M in 2025, after positive $7.1M in 2024. As of December 31, 2025, total assets were $44.2M, total liabilities were $5.1M, and shareholder equity was $39.2M, with cash and equivalents of $325,338.

Strategy

The company's strategy is not explicitly detailed in the provided excerpts. However, its subsidiary structure indicates a focus on software and electronic technology services, with an expansion into energy through AGM Energy. It maintains a Hong Kong base for operations and has a Canadian presence. The 55% ownership of AGM Software suggests a partnership approach to software services. No capital allocation or growth initiatives were mentioned in the provided text.

Risks

• Revenue volatility — Annual revenue has swung widely from $203.1M in 2022 to $30.6M in 2025, indicating unstable demand or contract concentration.
• Negative operating cash flow — Operating cash flow was -$4.1M in 2025, reversing the positive $7.1M in 2024, which could pressure liquidity.
• Limited cash position — Cash and equivalents were only $325,338 as of December 31, 2025, which is low relative to total assets of $44.2M.
• Subsidiary ownership risk — AGM Software is only 55%-owned, meaning minority shareholders control part of a key operating subsidiary, and AGM Energy is only 49%-owned, limiting control.

Outlook

Management's specific outlook is not provided in the excerpts. The company faces a challenging environment with shrinking revenue and negative cash flow. It will need to manage its low cash balance and potentially address revenue stability. No forward guidance was given.