Magnitude International Posts S$2.3M FY2026 Loss Amid Nasdaq Delisting Fight
MAGH has more than doubled off its 52-week low of $0.99 on elevated volume (4.9× avg).
Summary
Magnitude International reported a S$2.3 million FY2026 net loss, driven by one-time IPO costs, while its Nasdaq delisting appeal remains pending. The company disclosed S$85 million in backlog and a US$1.4 million loan to third parties.
Key Events · Earnings and Guidance · MAGH
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FY2026 Net Loss of S$2.3M
Net loss after tax was S$2,333,066 for FY2026, compared to a S$42,980 profit in FY2025. The swing was driven by S$1,789,292 in one-time IPO advisory and consultancy fees.
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Revenue Rebounds 24% to S$19.1M
Revenue increased 24.0% to S$19,050,555 in FY2026 from S$15,358,387 in FY2025, reflecting higher project activity on greenfield and brownfield electrical works.
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S$85M Backlog Provides Visibility
Backlog as of April 30, 2026 was approximately S$85.0 million, representing the total estimated contract value of works remaining to be completed.
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Nasdaq Delisting Appeal Pending
The company received a Staff Delisting Determination on August 3, 2026 under Nasdaq Listing Rule IM-5101-4. It has requested a hearing, which stays the delisting pending the panel's decision.
Analysis · MAGH · Real Estate & Construction
A swing to a S$2.3 million net loss in FY2026 from a small profit a year earlier, largely due to S$1.79 million in one-time IPO advisory fees, lands while the company is already fighting a Nasdaq delisting determination tied to alleged third-party market manipulation. That combination raises serious questions about its ability to remain a listed, investable entity. The S$85 million backlog offers some revenue visibility, but the company's own risk factors note that backlog is not a reliable indicator of future profit.
How filings like this one have moved
In the 30 days to Sep 17, 2026, 35.5% of the 1165 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.44%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MAGH was trading at $6.76 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $236.6M. The 52-week trading range was $0.99 to $6.94. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.