EUDA Health Holdings Limited

What they do

EUDA Health operates a proprietary healthcare platform integrating AI/ML analytics, telemedicine, and wellness services, alongside property and security management through its subsidiary Super Gateway Group. The company currently generates revenue from holistic wellness consumer products and services, property management (common area and security), and wellness therapy services, primarily in Singapore.

Revenue drivers

• Holistic wellness consumer products and services — Revenue from this segment was reported for 2023, 2024, and 2025, contributing to the company's overall top line.
• Property management services – common area management — Generated revenue from managing common areas of commercial and residential properties, a legacy business from the Super Gateway acquisition.
• Property management services – security management — Provides security management services for commercial and residential units, another legacy revenue stream.

Recent performance

Annual revenue rose from $3.7M in 2023 to $4.0M in 2024 and $6.8M in 2025, but net losses continued, improving from $-15.4M in 2024 to $-2.8M in 2025. Diluted EPS was $-1.48 in 2025 versus $-9.46 in 2024. Operating cash flow remained negative at $-2.4M in 2025. As of December 31, 2025, cash totaled $345,144, with total assets of $1.7M, liabilities of $6.0M, and shareholder equity of $-4.3M.

Strategy

The company aims to become a leading next-generation healthcare-technology provider in Southeast Asia by expanding its omni-channel platform and cross-selling opportunities. It plans to leverage AI and machine learning for real-time analytics, smart triage, and diagnostic support. Management focuses on growing its medical urgent care services and using CMS partners to embed technology into existing health systems to shorten sales cycles and reduce customer acquisition costs.

Risks

• Going concern risk — Negative shareholder equity of $-4.3M and limited cash of $345,144 raise substantial doubt about the company's ability to continue as a going concern.
• Liquidity risk — Operating cash flow has been negative for at least three consecutive years, including $-2.4M in 2025, indicating persistent cash burn.
• Dilution risk — The company has engaged in multiple unregistered sales of equity and convertible debt, which may significantly dilute existing shareholders.
• Listing compliance risk — EUDA Health received multiple delisting notices in 2023, including in April, May, and June, indicating ongoing risk of losing its securities listing.

Outlook

Management expects to expand across Southeast Asia, building on its current operations in Singapore. They plan to grow the property management and wellness segments while enhancing the healthcare technology platform. However, the company's financial constraints and negative equity suggest that continued capital raises or strategic changes are likely.