# STAK Inc. Announces First Half of Fiscal Year 2026 Financial Results

- Link: https://www.thailand-business-news.com/pr-news/stak-inc-announces-first-half-of-fiscal-year-2026-financial-results
- Published: 2026-05-14T03:05:00+07:00
- Author: PR Newswire

CHANGZHOU, China, May 14, 2026 /PRNewswire/ — STAK Inc. (the "Company" or "STAK")(
Nasdaq: STAK), a fast-growing company specializing in the research, development,
manufacturing, and sale of oilfield-specialized production and maintenance equipment,
today announced its unaudited financial results for the six months ended December
31, 2025. 

Mr. Chuanbo Jiang, Chairman and Chief Executive Officer of STAK, commented, "The
first half of fiscal year 2026 reflects continued execution of our strategy amid
evolving market dynamics. Driven by increase in both order volumes and pricing of
our specialized oilfield vehicles, revenues grew to $19.2 million, representing 
an 13.41% year-over-year increase. This performance reflects growing market recognition
of our solutions and sustained demand momentum across our core product lines. Gross
profit remained stable at $5.2 million, demonstrating the resilience of our business
model as we continue to scale. During this period, we continued to prioritize product
development, increasing research and development expenses by 2.69% to $1.6 million,
aligned with the stage and scale of our new equipment development."

Mr. Jiang continued, "Looking ahead, we remain committed to our existing business
strategy, with a clear focus on translating our blueprints into effective execution,
measurable performance, and tangible operational achievements. Building on the progress
we have made, we will continue to prioritize innovation, optimize our product mix,
and expand our international presence. By balancing growth initiatives with operational
discipline, we believe STAK is well positioned to capture emerging opportunities
and deliver sustainable, long-term value to our shareholders."

**First** **Half** **of Fiscal Year** **2026** **Financial Summary** 

 ◦ Revenues were $19.2 million for the first half of fiscal year 2026, an increase
   of 13.41% from $17.0 million for the first half of fiscal year 2025. 
 ◦ Gross profit remained steady at $5.2 million for the first half of fiscal year
   2025 and 2026. 
 ◦ Gross profit margin was 27.24% for the first half of fiscal year 2026, compared
   to 30.65% for the first half of fiscal year 2025. 
 ◦ Net income was $1.8 million for the first half of fiscal year 2026, compared 
   to $2.0 million for the first half of fiscal year 2025. 
 ◦ Basic and diluted earnings per share were $0.14 for the first half of fiscal 
   year 2026, compared to $0.20 for the first half of fiscal year 2025. 

**First** **Half** **of Fiscal Year** **2026** **Financial Results** 

**_Revenues_** 

Revenues were $19.2 million for the first half of fiscal year 2026, an increase 
of 13.41% from $17.0 million for the first half of fiscal year 2025. The increase
was mainly driven by the increase in order volumes and increase in sale prices of
specialized oilfield vehicles, partially offset by the decrease in demand for sales
of specialized oilfield equipment.

**_Cost of Revenues_** 

Cost of revenues was $14.0 million for the first half of fiscal year 2026, an increase
of 18.99% from $11.8 million for the first half of fiscal year 2025. The increase
in cost was mainly attributable to increase in sales volume for specialized oilfield
vehicles.

**_Gross Profit and Gross Profit Margin_** 

Gross profit remained steady at $5.2 million for the first half of fiscal year 2026
and 2025. The gross profit remained steady mainly due to the decrease in unit profit
margin was offset by an increase in sales volume.

Gross profit margin was 27.24% for the first half of fiscal year 2026, compared 
to 30.65% for the first half of fiscal year 2025. The decrease in gross profit margin
was primarily driven by increase in production cost of newly developed vehicles 
and the Company’s promotional sales policy to expand the market.

**_Operating Expenses_** 

Total operating expenses were $3.1 million for the first half of fiscal year 2026,
compared to $2.9 million for the first half of fiscal year 2025. 

 ◦ Selling and marketing expenses were $0.5 million for the first half of fiscal
   year 2026, a decrease of 13.76% from $0.6 million for the first half of fiscal
   year 2025. The observed revenue expansion reflects the Company’s management team’s
   direct business development efforts rather than commission-based sales channels,
   thereby maintaining stable commission expenditure. 
 ◦ General and administrative expenses were $1.0 million for the first half of fiscal
   year 2026, an increase of 27.27% from $0.8 million for the first half of fiscal
   year 2025. The increase was attributable to the increase in professional fees
   of $0.7 million and was offset by a decrease in provision for credit losses of
   $0.5 million.
 ◦ Research and development expenses were $1.6 million for the first half of fiscal
   year 2026, an increase of 2.69% from $1.5 million for the first half of fiscal
   year 2025. The increase in research and development expenses is mainly driven
   by the stage and scale of the Company’s equipment development.

**_Net Income_** 

Net income was $1.8 million for the first half of fiscal year 2026, compared to 
$2.0 million for the first half of fiscal year 2025. 

**_Basic and Diluted Earnings per Share_** 

Basic and diluted earnings per share were $0.14 for the first half of fiscal year
2026, compared to $0.20 for the first half of fiscal year 2025. 

**Financial Condition** 

As of December 31, 2025, the Company had cash and cash equivalents of $1.9 million,
compared to $1.0 million as of June 30, 2025. 

Net cash provided by operating activities was $0.7 million for the first half of
fiscal year 2026, compared to net cash used in operating activities of $1.0 million
for the first half of fiscal year 2025. 

Net cash provided by investing activities was $0.03 million for the first half of
fiscal year 2026, compared to $0.1 million for the first half of fiscal year 2025.

Net cash provided by financing activities was $0.2 million for the first half of
fiscal year 2026, compared to $0.6 million for the first half of fiscal year 2025.

**About STAK Inc.** 

STAK Inc. is a fast-growing company specializing in the research, development, manufacturing,
and sale of oilfield-specific production and maintenance equipment. The Company 
designs and manufactures oilfield-specialized production and maintenance equipment,
then collaborates with qualified specialized vehicle manufacturing companies to 
integrate the equipment onto vehicle chassis, producing specialized oilfield vehicles
for sale. Additionally, the Company sells oilfield-specialized equipment components,
related products, and provides automation solutions. Its vision is to help oilfield
services companies reduce costs and increase efficiency by providing the cutting-
edge integrated oilfield equipment and automation solutions service. Its mission
is to become a powerful provider for the niche markets of specialized oilfield vehicles
and equipment in China. For more information, please visit the Company’s website
at [https://www.stakindustry.com/ir/](https://www.thailand-business-news.com/pr-news/https://www.stakindustry.com/ir/).

**Forward-Looking Statements** 

_Certain statements in this announcement are forward-looking statements. These forward-
looking statements involve known and unknown risks and uncertainties and are based
on the Company’s current expectations and projections about future events that the
Company believes may affect its financial condition, results of operations, business
strategy and financial needs. Investors can identify these forward-looking statements
by words or phrases such as "approximates," "assesses," "believes," "hopes," "expects,""
anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should,""
could," "may" or similar expressions. The Company undertakes no obligation to update
or revise publicly any forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as may be required
by law. Although the Company believes that the expectations expressed in these forward-
looking statements are reasonable, it cannot assure you that such expectations will
turn out to be correct, and the Company cautions investors that actual results may
differ materially from the anticipated results and encourages investors to review
other factors that may affect its future results in the Company’s registration statement
and other filings with the U.S. Securities and Exchange Commission._

**For more information, please contact:** 

**STAK Inc.** 
Investor Relations Department Email: [ir@stakindustry.com](https://www.thailand-business-news.com/pr-news/ir@stakindustry.com)

**Ascent Investor Relations LLC** 
Tina Xiao Phone: +1-646-932-7242 Email: [investors@ascent-ir.com](http://investors@ascent-ir.com/)

 

 

  |

**STAK INC.**

**UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Expressed in U.S. dollars, except for the number of shares)**

  |   |  
 |   |   |  
 |   |   |

**As of**

  |   |  
 |   |   |

**December 31, 
2025

  |   |   |

**June 30, 2025**

  |   |  
 |

**Assets**

  |   |   |   |   |   |   |   |   |  
 |

**Current assets:**

  |   |   |   |   |   |   |   |   |  
 |

Cash and cash equivalents

  |   |

$

  |

1,923,399

  |   |   |

$

  |

1,022,625

  |   |  
 |

Accounts receivable, net

  |   |   |

2,980,649

  |   |   |   |

1,988,785

  |   |  
 |

Inventories

  |   |   |

18,313,220

  |   |   |   |

17,018,217

  |   |  
 |

Advances to suppliers

  |   |   |

771,306

  |   |   |   |

562,473

  |   |  
 |

Amounts due from a related party

  |   |   |

–

  |   |   |   |

87,472

  |   |  
 |

Prepayments and other current assets, net

  |   |   |

1,869,325

  |   |   |   |

2,783,842

  |   |  
 |

**Total current assets**

  |   |   |

**25,857,899**

  |   |   |   |

**23,463,414**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Non-current assets:**

  |   |   |   |   |   |   |   |   |  
 |

Property and equipment, net

  |   |   |

274,938

  |   |   |   |

293,023

  |   |  
 |

Intangible assets, net

  |   |   |

2,003,067

  |   |   |   |

2,022,918

  |   |  
 |

Right-of-use assets, net

  |   |   |

47,843

  |   |   |   |

74,562

  |   |  
 |

Deferred tax assets

  |   |   |

790,723

  |   |   |   |

785,700

  |   |  
 |

Other assets

  |   |   |

369,816

  |   |   |   |

114,888

  |   |  
 |

**Total non-current assets**

  |   |   |

**3,486,387**

  |   |   |   |

**3,291,091**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Total assets**

  |   |

**$**

  |

**29,344,286**

  |   |   |

**$**

  |

**26,754,505**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Liabilities and shareholder’s equity**

  |   |   |   |   |   |   |   |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Liabilities**

  |   |   |   |   |   |   |   |   |  
 |

**Current liabilities:**

  |   |   |   |   |   |   |   |   |  
 |

Accounts payable

  |   |

$

  |

2,465,645

  |   |   |

$

  |

3,722,525

  |   |  
 |

Deferred revenues

  |   |   |

744,094

  |   |   |   |

1,164,334

  |   |  
 |

Amounts due to related parties

  |   |   |

70,695

  |   |   |   |

30,222

  |   |  
 |

Accrued expenses and other current liabilities

  |   |   |

1,140,148

  |   |   |   |

1,116,014

  |   |  
 |

Short-term borrowings

  |   |   |

7,568,889

  |   |   |   |

5,636,831

  |   |  
 |

Operating lease liabilities, current

  |   |   |

–

  |   |   |   |

73,530

  |   |  
 |

Income tax payable

  |   |   |

1,967,290

  |   |   |   |

1,692,519

  |   |  
 |

**Total current liabilities**

  |   |   |

**13,956,761**

  |   |   |   |

**13,435,975**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Non-Current liabilities:**

  |   |   |   |   |   |   |   |   |  
 |

Long-term borrowing

  |   |   |

428,994

  |   |   |   |

418,784

  |   |  
 |

**Total non-current liabilities**

  |   |   |

**428,994**

  |   |   |   |

**418,784**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Total liabilities**

  |   |

**$**

  |

**14,385,755**

  |   |   |

**$**

  |

**13,854,759**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Commitments and contingencies**

  |   |   |   |   |   |   |   |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Shareholder’s equity**

  |   |   |   |   |   |   |   |   |  
 |

Class A ordinary shares (par value of $0.001 per share; 
75,000,000 shares authorized; 4,010,349 shares issued and outstanding as of December 31, 2025 and June 30, 2025, respectively)

  |   |   |

4,010

  |   |   |   |

4,010

  |   |  
 |

Class B ordinary shares (par value of $0.001 per share; 
25,000,000 shares authorized; 9,200,000 shares issued and outstanding as of December 31, 2025 and June 30, 2025, respectively)

  |   |   |

9,200

  |   |   |   |

9,200

  |   |  
 |

Additional paid in capital

  |   |   |

12,157,104

  |   |   |   |

12,157,104

  |   |  
 |

Statutory reserve

  |   |   |

672,402

  |   |   |   |

672,402

  |   |  
 |

Retained earnings

  |   |   |

2,141,804

  |   |   |   |

324,893

  |   |  
 |

Accumulated other comprehensive loss

  |   |   |

(25,989)

  |   |   |   |

(267,863)

  |   |  
 |

**Total shareholders’ equity**

  |   |   |

**14,958,531**

  |   |   |   |

**12,899,746**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Total liabilities and shareholder’s equity**

  |   |

**$**

  |

**29,344,286**

  |   |   |

**$**

  |

**26,754,505**

  |   |

 

 

  |

**STAK INC.**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND 
COMPREHENSIVE INCOME

**(Expressed in U.S. dollars, except for number of shares)**

  |   |  
 |   |   |  
 |   |   |

**For the Six Months Ended December 
31,

  |   |  
 |   |   |

**2025**

  |   |   |

**2024**

  |   |  
 |   |   |   |   |   |   |   |  
 |

Revenues

  |   |

$

  |

19,230,376

  |   |   |

$

  |

16,955,913

  |   |  
 |

Cost of revenues

  |   |   |

(13,992,367)

  |   |   |   |

(11,759,741)

  |   |  
 |

**Gross profit**

  |   |   |

**5,238,009**

  |   |   |   |

**5,196,172**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Operating expenses:**

  |   |   |   |   |   |   |   |   |  
 |

Selling and marketing expenses

  |   |   |

(516,973)

  |   |   |   |

(599,471)

  |   |  
 |

General and administrative expenses

  |   |   |

(1,026,832)

  |   |   |   |

(806,833)

  |   |  
 |

Research and development expenses

  |   |   |

(1,584,450)

  |   |   |   |

(1,542,926)

  |   |  
 |

**Total operating expenses**

  |   |   |

**(3,128,255)**

  |   |   |   |

**(2,949,230)**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Operating income**

  |   |   |

**2,109,754**

  |   |   |   |

**2,246,942**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Other (expense) income:**

  |   |   |   |   |   |   |   |   |  
 |

Interest expense, net

  |   |   |

(105,896)

  |   |   |   |

(89,907)

  |   |  
 |

Other income, net

  |   |   |

56,034

  |   |   |   |

–

  |   |  
 |

Government subsidies

  |   |   |

–

  |   |   |   |

17,006

  |   |  
 |

**Total other expense, net**

  |   |   |

**(49,862)**

  |   |   |   |

**(72,901)**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Income before income tax expense**

  |   |   |

**2,059,892**

  |   |   |   |

**2,174,041**

  |   |  
 |

Income tax expense

  |   |   |

(242,981)

  |   |   |   |

(174,678)

  |   |  
 |

**Net income**

  |   |   |

**1,816,911**

  |   |   |   |

**1,999,363**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

Net income per ordinary share:

  |   |   |   |   |   |   |   |   |  
 |

Earnings per share, basic and diluted

  |   |

$

  |

0.14

  |   |   |

$

  |

0.20

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

Weighted average number of shares outstanding, basic and diluted*

  |   |   |

13,210,349

  |   |   |   |

10,000,000

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**Net income**

  |   |

**$**

  |

**1,816,911**

  |   |   |

**$**

  |

**1,999,363**

  |   |  
 |

Foreign currency translation adjustments

  |   |   |

241,874

  |   |   |   |

(83,516)

  |   |  
 |

**Total comprehensive income**

  |   |

**$**

  |

**2,058,785**

  |   |   |

**$**

  |

**1,915,847**

  |   |

  |   |  
 |

* On June 13, 2025, the Company’s authorized share capital was increased (the "Increase of Authorized Share Capital"), and re-designated from US$50,000 divided into 50,000,000 ordinary shares of par value US$0.001 each to US$100,000 divided into 100,000,000 ordinary shares of per value US$0.001. All share and per share amounts presented in the accompanying consolidated financial statements have been retrospectively adjusted for all periods presented, unless otherwise indicated.

  |

 

 

  |

**STAK INC.**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Expressed in U.S. dollars)**

  |   |  
 |   |   |  
 |   |   |

**For the Six Months Ended December 
31,

  |   |  
 |   |   |

**2025**

  |   |   |

**2024**

  |   |  
 |

**CASH FLOWS FROM OPERATING ACTIVITIES:**

  |   |   |   |   |   |   |   |   |  
 |

Net income

  |   |

$

  |

1,816,911

  |   |   |

$

  |

1,999,363

  |   |  
 |

_Adjustments to reconcile net income to net cash provided by 
(used in) operating activities:

  |   |   |   |   |   |   |   |   |  
 |

Provision for credit losses

  |   |   |

23,608

  |   |   |   |

524,509

  |   |  
 |

Depreciation of property and equipment

  |   |   |

24,765

  |   |   |   |

166,058

  |   |  
 |

Amortization of intangible assets

  |   |   |

67,900

  |   |   |   |

2,538

  |   |  
 |

Amortization of operating lease right-of-use asset

  |   |   |

28,012

  |   |   |   |

9,624

  |   |  
 |

Deferred income tax

  |   |   |

13,785

  |   |   |   |

(125,305)

  |   |  
 |

**Changes in operating assets and liabilities:**

  |   |   |   |   |   |   |   |   |  
 |

Accounts receivable

  |   |   |

(976,367)

  |   |   |   |

(5,791,039)

  |   |  
 |

Advance to suppliers

  |   |   |

(192,276)

  |   |   |   |

1,355,963

  |   |  
 |

Inventories

  |   |   |

(863,885)

  |   |   |   |

(5,231,547)

  |   |  
 |

Amounts due from/due to related parties

  |   |   |

130,432

  |   |   |   |

66,712

  |   |  
 |

Prepaid expenses and other current assets

  |   |   |

936,875

  |   |   |   |

73,201

  |   |  
 |

Other assets

  |   |   |

(253,510)

  |   |   |   |

35,512

  |   |  
 |

Accounts payable

  |   |   |

221,333

  |   |   |   |

6,037,020

  |   |  
 |

Deferred revenues

  |   |   |

(440,372)

  |   |   |   |

–

  |   |  
 |

Income tax payable

  |   |   |

229,196

  |   |   |   |

299,996

  |   |  
 |

Accrued expenses and other current liabilities

  |   |   |

(25,152)

  |   |   |   |

(421,174)

  |   |  
 |

Operating lease liabilities

  |   |   |

(73,936)

  |   |   |   |

–

  |   |  
 |

**Net cash provided by (used in) operating activities**

  |   |

**$**

  |

**667,319**

  |   |   |

**$**

  |

**(998,569)**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**CASH FLOWS FROM INVESTING ACTIVITIES:**

  |   |   |   |   |   |   |   |   |  
 |

Purchases of property and equipment

  |   |   |

–

  |   |   |   |

(3,082)

  |   |  
 |

Proceeds received from disposal of property and equipment

  |   |   |

506,471

  |   |   |   |

–

  |   |  
 |

Loans to third parties

  |   |   |

(640,072)

  |   |   |   |

(209,010)

  |   |  
 |

Collection of loans to third parties

  |   |   |

167,036

  |   |   |   |

350,022

  |   |  
 |

**Net cash provided by investing activities**

  |   |

**$**

  |

**33,435**

  |   |   |

**$**

  |

**137,930**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**CASH FLOWS FROM FINANCING ACTIVITIES:**

  |   |   |   |   |   |   |   |   |  
 |

Proceeds from short-term bank loans

  |   |   |

2,196,738

  |   |   |   |

2,424,513

  |   |  
 |

Repayments of short-term bank loans

  |   |   |

(1,979,310)

  |   |   |   |

(1,741,748)

  |   |  
 |

Repayments of long-term bank loans

  |   |   |

–

  |   |   |   |

(118,439)

  |   |  
 |

**Net cash provided by financing activities**

  |   |

**$**

  |

**217,428**

  |   |   |

**$**

  |

**564,326**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

Effect of exchange rate changes on cash and cash equivalents

  |   |   |

(17,408)

  |   |   |   |

(1,319)

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

Net increase (decrease) in cash and cash equivalents

  |   |   |

900,774

  |   |   |   |

(297,632)

  |   |  
 |

Cash and cash equivalents, at beginning of the period

  |   |   |

1,022,625

  |   |   |   |

658,154

  |   |  
 |

**Cash and cash equivalents, at the end of the period**

  |   |

**$**

  |

**1,923,399**

  |   |   |

**$**

  |

**360,522**

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**SUPPLEMENTAL DISCLOSURE OF CASH FLOW 
INFORMATION:

  |   |   |   |   |   |   |   |   |  
 |

Interest paid

  |   |   |

106,103

  |   |   |   |

90,523

  |   |  
 |

Income taxes paid

  |   |   |

–

  |   |   |   |

–

  |   |  
 |   |   |   |   |   |   |   |   |   |  
 |

**SUPPLEMENTAL DISCLOSURE OF NON-CASH 
ACTIVITIES:

  |   |   |   |   |   |   |   |   |  
 |

Addition of right-of-use assets

  |   |   |

–

  |   |   |   |

105,760

  |   |  
 |

Reclassification of accounts payables into supplier finance 
obligations

  |   |   |

1,544,173

  |   |   |   |

–

  |   |

 

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**Read the original article :** [STAK Inc. Announces First Half of Fiscal Year 2026 Financial Results ](http://www.prnasia.com/story/archive/4958507_CN58507_0?rand=184833)