XMax Inc. XMAX
Inc. (the "Company"), formerly known as Nova LifeStyle, Inc. and Stevens Resources, Inc, is a U.S.-headquartered innovative
designer and distributor of contemporary styled residential and commercial furniture incorporated into a dynamic marketing and sales
platform offering retail as well as online selection and global purchase fulfillment. We were incorporated in the State of Nevada on
September 9, 2009. The Company's products are marketed through wholesale and retail channels as well as various online platforms
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- North America
- Hong Kong
- Other
| Region | FY2025 |
|---|---|
| North America | $8.7M |
| Hong Kong | $7.9M |
| Other | $85.7K |
As the company reported it, from the “Schedule of Revenue by Geographic Areas (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.7M | $9.7M | $11.1M | $12.7M | $12.6M | $11.4M | $22.0M | $81.2M | $106.5M | $92.6M |
| Cost of revenue | $12.5M | $5.4M | $6.9M | $20.5M | $7.0M | $31.2M | $20.7M | $65.8M | $86.1M | $79.1M |
| Gross profit | $4.2M | $4.2M | $4.2M | -$7.8M | $5.5M | -$19.9M | $1.3M | $15.4M | $20.4M | $13.5M |
| R&D | — | $2.0M | $3.1M | $10.9K | $110.3K | $33.7K | — | — | — | — |
| SG&A | $4.7M | $6.1M | $5.1M | $5.5M | $5.7M | $4.7M | $5.5M | $6.6M | $9.5M | $9.0M |
| Total operating expenses | $6.1M | $9.6M | $10.6M | $8.4M | $9.4M | $6.4M | $7.1M | $10.5M | $13.6M | $14.3M |
| Operating income | -$1.9M | -$5.4M | -$6.4M | -$16.2M | -$3.9M | -$26.3M | -$5.8M | $4.8M | $6.8M | -$766.1K |
| Interest expense | $77.1K | $31.2K | $9.5K | $25.2K | $123.1K | $17.8K | $25.9K | $170.3K | $174.3K | $283.8K |
| Pre-tax income | -$4.0M | -$5.6M | -$7.0M | -$17.1M | -$4.1M | -$26.4M | -$5.9M | $4.5M | $6.5M | -$1.1M |
| Income tax | $581.0K | $2.6K | $731.1K | $2.4K | $163.9K | $649.2K | $251.0K | $738.8K | $2.8M | $836.6K |
| Net income | -$3.4M | -$5.6M | -$7.7M | -$17.1M | -$20.0M | -$26.1M | -$8.6M | $5.3M | $3.8M | -$1.1M |
| EPS, basic | -0.17 | -1.48 | -4.96 | -12.34 | -3.27 | -4.54 | -1.52 | 0.93 | 0.14 | -0.04 |
| EPS, diluted | -0.17 | -1.48 | -4.96 | -12.34 | -3.27 | -4.54 | -1.52 | 0.93 | 0.14 | -0.04 |
| Shares, diluted (wtd. avg.) | 20.7M | 3.8M | 1.6M | 1.4M | 6.1M | 5.7M | 5.7M | 5.7M | 27.8M | 25.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.7M | $161.9K | $369.1K | $1.4M | $6.3M | $8.7M | $7.4M | $243.6K | $5.7M | $2.6M |
| Receivables | $2.4M | $36.4K | $47.0K | $288.5K | $103.4K | $514.9K | $390.2K | $66.6M | $54.0M | $42.1M |
| Inventory | $2.2M | $4.7M | $2.2M | $4.9M | $2.6M | $32.8M | $29.7M | $6.4M | $6.4M | $2.8M |
| Total current assets | $11.8M | $7.9M | $3.7M | $8.2M | $25.6M | $43.3M | $68.5M | $85.4M | $74.9M | $70.0M |
| Property, plant and equipment | $21.9K | $252.2K | $287.7K | $368.6K | $453.8K | $453.5K | $136.5K | $147.1K | $157.2K | $171.3K |
| Goodwill | — | $218.6K | $218.6K | $218.6K | $218.6K | $218.6K | $218.6K | $218.6K | $218.6K | $218.6K |
| Other intangibles | — | $3.1K | $8.5K | $13.8K | $19.2K | $0 | $0 | $3.8M | $4.2M | $5.7M |
| Total assets | $35.5M | $9.9M | $6.2M | $11.5M | $29.5M | $46.5M | $71.6M | $90.1M | $79.9M | $77.0M |
| Accounts payable | $327.1K | $728.5K | $430.0K | $321.3K | $358.4K | $743.8K | $417.9K | $4.1M | $1.6M | $2.4M |
| Total current liabilities | $2.4M | $5.8M | $3.7M | $1.6M | $1.8M | $2.0M | $1.5M | $11.8M | $2.7M | $11.6M |
| Total liabilities | $7.6M | $6.8M | $5.7M | $4.9M | $6.1M | $5.6M | $5.5M | $15.2M | $11.4M | $13.8M |
| Retained earnings | -$53.4M | -$50.0M | -$44.4M | -$36.7M | -$19.6M | $351.4K | $26.4M | $35.0M | $29.7M | $26.3M |
| Total equity | $28.0M | $3.1M | $496.4K | $6.6M | $23.4M | $40.9M | $66.0M | $74.9M | $68.4M | $63.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$445.8K | -$1.4M | -$1.6M | -$5.4M | -$4.8M | -$2.1M | $14.9M | -$6.9M | -$1.3M | -$6.4M |
| Depreciation and amortisation | $6.8K | $55.5K | $68.4K | $63.2K | $78.7K | $61.9K | $36.5K | $37.7K | $1.5M | $603.2K |
| Stock-based compensation | $3.4M | $746.5K | $499.6K | $573.9K | $130.1K | $157.4K | $369.2K | $1.2M | $2.2M | $1.6M |
| Capital expenditure | — | $14.1K | — | $8.8K | $110.5K | $365.0K | $25.9K | $27.5K | $26.8K | $13.5K |
| Investing cash flow | -$22.8M | -$14.1K | $18.6K | -$8.8K | -$154.8K | $672.8K | -$25.9K | -$27.5K | $8.2M | $6.1M |
| Financing cash flow | $29.8M | $1.2M | — | — | $2.8M | $466.1K | -$6.9M | $2.1M | -$3.8M | $1.9M |
| Buybacks | — | — | — | — | — | $0 | $616.2K | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-017915.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $92.6M | $106.5M | $81.2M | $22.0M | $11.4M | $12.6M | $12.7M | $11.1M | $9.7M | $16.7M |
| Gross profit | $13.5M | $20.4M | $15.4M | $1.3M | -$19.9M | $5.5M | -$7.8M | $4.2M | $4.2M | $4.2M |
| Net income | -$1.1M | $3.8M | $5.3M | -$8.6M | -$26.1M | -$20.0M | -$17.1M | -$7.7M | -$5.6M | -$3.4M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Material agreement signed Item 1.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- Acquisition or disposal completed Item 2.01
- Material agreement signed Item 1.01
- Acquisition or disposal completed Item 2.01
- Material agreement signed Item 1.01
- Unregistered share sale Item 3.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 2510
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| SGI | SOMNIGROUP INTERNATIONAL INC. | $13.61B | 35.2x | 51.6% |
| LEG | LEGGETT & PLATT INC | $1.26B | 5.4x | -7.5% |
| LZB | LA-Z-BOY INC | $1.20B | 12.1x | 0.8% |
| CODI | Compass Diversified Holdings | $783.2M | — | 4.8% |
| FLXS | FLEXSTEEL INDUSTRIES INC | $344.4M | 13.9x | 4.1% |
| HOFT | HOOKER FURNISHINGS Corp | $137.3M | — | -12.4% |
| PRPL | Purple Innovation, Inc. | $11.6M | 5.5x | -3.9% |
| NTZ | NATUZZI S P A | — | — | — |