HomesToLife Ltd (HTLM): Financial results for H1 2026
HomesToLife Ltd (HTLM) furnished an SEC Form 6-K — earnings release. Exhibit 99.3 HomesToLife Reports 10% YoY Growth in 1H 2026 Net Revenue, Fuelled by Stronger Export Sales SINGAPORE, Sept 30, 2026 — HomesToLife Ltd (Nasdaq: HTLM) (“HomesToLife” or the “Company”), a Singapore-based home furniture company with sales across Asia-Pacific, Europe and
Facts are quoted from the filing text and checked against it.
How this was made
The 30-second read
Why it matters
The earnings numbers are the first public disclosure of H1 2026 performance, offering fresh data for valuation models.
Market read
First‑hand earnings data for a niche consumer discretionary player; may influence peer valuations and sector sentiment.
What to watch
Foreign‑exchange losses heavily impacted net income; hedging effectiveness could be a hidden catalyst.
HomesToLife Reports 10% YoY Growth in 1H 2026 Net Revenue, Fuelled by Stronger Export Sales
Net revenue, gross profit, gross margin and income from operations increased, led by export and retail sales, but net income and basic and diluted earnings per share declined 39% following a net foreign exchange loss compared with a foreign exchange gain in 1H 2025.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net revenue, six months ended June 30, 2026other | $ 198,305,106 | – | 10 % |
| Net revenue from third parties, six months ended June 30, 2026other | $ 190,732,226 | – | – |
| Net revenue from related parties, six months ended June 30, 2026other | $ 7,572,880 | – | – |
| Gross profit, six months ended June 30, 2026other | $ 56,993,678 | – | 14 % |
| Gross profit margin, 1H 2026other | 28.7 % | – | 1.1 pp |
| Sales and distribution expenses, six months ended June 30, 2026other | (36,967,422 ) | – | 19 % |
| General and administrative expenses, six months ended June 30, 2026other | (10,327,858 ) | – | 7 % |
| Total operating expenses, six months ended June 30, 2026other | (47,295,280 ) | – | 16 % |
| Income from operations, six months ended June 30, 2026other | $ 9,698,398 | – | 7 % |
| Foreign exchange gain (loss), net, six months ended June 30, 2026other | (2,168,357 ) | – | – |
| Income before income taxes, six months ended June 30, 2026other | $ 7,810,485 | – | – |
| Income tax expense, six months ended June 30, 2026other | (1,742,947 ) | – | – |
| Net income, six months ended June 30, 2026other | $ 6,067,538 | – | (39 %) |
| Net income excluding foreign exchange gain (loss), 1H 2026non-GAAP | $7.9M | – | 22% |
| Comprehensive income, six months ended June 30, 2026other | $ 5,663,009 | – | – |
| Earnings per share, basic and diluted, six months ended June 30, 2026other | $ 0.07 | – | (39 %) |
| Weighted average number of ordinary shares, basic and diluted, six months ended June 30, 2026other | 89,687,500 | – | – |
| Net cash used in operating activities, six months ended June 30, 2026other | (8,266,135 ) | – | 26% decrease |
| Net cash used in investing activities, six months ended June 30, 2026other | (1,951,009 ) | – | – |
| Net cash provided by financing activities, six months ended June 30, 2026other | 1,457,160 | – | – |
| Net change in cash and cash equivalents, and restricted cash, six months ended June 30, 2026other | (9,059,528) | – | – |
| Cash and cash equivalents, June 30, 2026other | $ 17,941,401 | – | – |
| Short-term borrowings, June 30, 2026other | $ 7,263,986 | – | – |
| Net current assets, June 30, 2026other | $18.3M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| RetailExpansion of the retail stores and retail sales growth in South Korea. | $ 5,313,821 | – | 57 % |
| ExportA US$18.3 million increase in export sales. | $ 186,293,352 | – | 11 % |
| Leather TradingNo driver was provided. | $ 6,697,933 | – | (29 %) |
| Asia PacificThe Asia Pacific market experienced a slight decline by 4%. | $46.68M | – | (4 %) |
| EuropeBetter sales performance in Europe. | $123.7M | – | 12 % |
| North AmericaBetter sales performance in North America. | $27.97M | – | 27 % |
FY2026 outlook
- RevenueUS$400 million to US$420 million
- NoteHomesToLife expects to maintain stable sales growth for the remainder of FY2026.
Capital returns
- US$5.8 million dividend payments
What drove it
- Net revenue growth was driven by a US$18.3 million increase in export sales.
- Retail sales growth was attributable to retail-store expansion and retail sales growth in South Korea.
- Gross profit growth and gross-margin expansion were primarily attributable to a favorable shift in sales mix and better sales performance in Europe and North America.
- Operating expenses increased due to higher selling expenses associated with larger sales volumes and increased freight and logistics costs.
- Net income declined primarily because the Company recorded a net foreign exchange loss of US$2.2 million, compared with a foreign exchange gain of US$4.3 million in the same period last year.
Concerns
- Net income decreased 39% to $ 6,067,538 despite 10% net revenue growth.
- Foreign exchange gain (loss), net, shifted to a loss of (2,168,357 ) from a gain of 4,293,633.
- Leather Trading revenue declined (29 %) to $ 6,697,933.
- Asia Pacific revenue declined (4 %) to 46,680 US$’000.
- The Company identified foreign exchange movements, logistics costs, raw material prices, and broader macroeconomic and geopolitical developments as external factors that may affect operating performance.
- The Proposed Secondary Listing remains subject to regulatory review and approval and, if approved, fulfilment of conditions and other applicable listing requirements.
What to watch
- Progress toward the FY2026 net revenue guidance range of US$400 million to US$420 million.
- Whether export growth, particularly in Europe and North America, continues to support sales growth.
- The impact of foreign exchange movements and the Company’s natural hedges and risk-management measures on reported net income.
- Freight and logistics costs, raw material prices, and operating-expense control.
- Recovery or further change in Asia Pacific and Leather Trading revenue.
- Regulatory review and approval status of the Proposed Secondary Listing on the Main Board of the SGX-ST.
Balance sheet and cash flow
- Cash and cash equivalents totalled US$17.9 million as of June 30, 2026.
- Cash and cash equivalents were $ 17,941,401 as of June 30, 2026, compared with $ 27,276,091 as of December 31, 2025.
- Restricted cash was $ 164,026 current and $ 111,136 non-current as of June 30, 2026.
- Short-term borrowings were $ 7,263,986 as of June 30, 2026, compared with $ 10,389,094 as of December 31, 2025.
- Net current assets were US$18.3 million as of June 30, 2026.
- Total assets were $ 124,991,687 as of June 30, 2026.
- Total liabilities were $ 97,317,056 as of June 30, 2026.
- Total shareholders’ equity was $ 27,674,631 as of June 30, 2026.
- Net cash used in operating activities was (8,266,135 ) during the six months ended June 30, 2026.
- Net cash used in investing activities was (1,951,009 ) during the six months ended June 30, 2026.
- Net cash provided by financing activities was 1,457,160 during the six months ended June 30, 2026.
Analysis
HomesToLife reported 1H 2026 net revenue of $ 198,305,106, up 10 % from $ 180,774,803 in 1H 2025. Export revenue rose 11 % to $ 186,293,352 and retail revenue increased 57 % to $ 5,313,821, while Leather Trading revenue declined (29 %) to $ 6,697,933. Regionally, North America grew 27 % and Europe grew 12 %, whereas Asia Pacific declined (4 %). The Company attributed overall revenue growth to a US$18.3 million increase in export sales and retail growth to store expansion and higher South Korea retail sales.
Gross profit increased 14 % to $ 56,993,678, and gross profit margin expanded to 28.7 % from 27.6 %, a 1.1 pp increase. The Company attributed the improvement to a favorable sales mix and better sales performance in Europe and North America. Total operating expenses increased 16 % to (47,295,280 ), including a 19 % increase in sales and distribution expenses to (36,967,422 ). It cited higher selling expenses associated with larger sales volumes as well as increased freight and logistics costs. Income from operations nevertheless increased 7 % to $ 9,698,398.
Reported earnings weakened below operating income because foreign exchange moved from a net gain of 4,293,633 in 1H 2025 to a net loss of (2,168,357 ) in 1H 2026. Net income declined 39 % to $ 6,067,538 and basic and diluted earnings per share declined to $ 0.07 from $ 0.11. The Company stated that excluding foreign exchange gain (loss), net income would have increased 22% from US$6.5 million to US$7.9 million. This foreign-exchange swing is the principal reported-period earnings headwind.
Operating cash outflow improved to (8,266,135 ) from (11,241,457 ). Cash and cash equivalents were $ 17,941,401 at June 30, 2026, following US$5.8 million in dividend payments, while short-term borrowings fell to $ 7,263,986 from $ 10,389,094 at December 31, 2025. The Company reported net current assets of US$18.3 million. For FY2026, it expects stable sales growth and maintained its earlier full-year revenue guidance of US$400 million to US$420 million.
The release frames the second half around sustaining export-led growth, enhancing operational efficiency, prudent cost management and working-capital optimization. Key reported risks are foreign exchange movements, logistics costs, raw material prices and macroeconomic and geopolitical developments. The proposed secondary listing on the Main Board of the SGX-ST remains subject to regulatory review, approval and other applicable listing requirements.
Management, verbatim
The first half of 2026 demonstrated the strength of our business fundamentals and the benefits of our diversified global strategy.
Ms. Phua Mei Ming, Chief Executive Officer of HomesToLife
While we remain mindful of ongoing market uncertainties, we are optimistic about the opportunities ahead. We will continue to proactively manage risks, invest in product innovation, and strengthen our presence across key markets.
Ms. Phua Mei Ming, Chief Executive Officer of HomesToLife
Not in the filing
stated, not guessed- Accounting framework, including whether the unaudited condensed consolidated financial statements are prepared under IFRS, US GAAP or another basis, was not stated.
- Quarterly results were not provided; the filing reports six-month periods only.
- Free cash flow was not reported.
- Share repurchases and repurchase authorization were not reported.
- A tax rate was not reported.
- Operating margin was not reported.
- FY2026 guidance for gross margin, operating expenses, operating income, net income, earnings per share, tax rate, cash flow and capital returns was not reported.
- No previous outlook section was provided for a formal comparison of actual 1H 2026 results with prior guidance.
- Prior-quarter comparatives were not reported for the operating metrics.
- Drivers for the Leather Trading revenue decline were not provided.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
The filing is a Form 6‑K earnings release for a Singapore‑based furniture company listed on Nasdaq.
Ticker impact
HomesToLife Ltd (Nasdaq: HTLM) released its unaudited H1 2026 earnings, reporting 10% revenue growth and a 39% drop in EPS.
likely modest downside as investors weigh lower earnings per share against revenue growth
The primary disclosure of earnings numbers is new and material; the drop in EPS may pressure the stock despite revenue expansion.
Market effects
Provides a benchmark for the global furniture sector's export growth trends.
Highlights stronger performance in North America and Europe, offset by a slight decline in Asia‑Pacific.
Adds data on consumer discretionary demand across key regions.
Counterpoint
Investors may view the EPS decline as a buying opportunity if revenue momentum continues.
Key entities
- companyHomesToLife Ltd
Global home furniture company headquartered in Singapore, listed on Nasdaq under HTLM.
