XMax Third-Quarter Revenue Falls 34 Percent to 6.4 Million Dollars: API Services Contribute 4.5 Million Dollars, With a Net Loss of 9.0 Million Dollars and Cash of 10.6 Million Dollars, Released November 13
XMax Inc. (NASDAQ: XMAX), a distributor of contemporary furniture and artificial intelligence software and platform-based service provider, announced financial results for the third quarter ended September 30, 2026 in Los Angeles on November 13, 2026. The company, formerly known as Nova LifeStyle, Inc., is headquartered in Commerce, California.
Revenue was 6.4 million dollars, down 34 percent from 9.8 million dollars in the third quarter of 2025. That included 4.5 million dollars from API-based services, in their first full quarter of contribution, and 1.9 million dollars from furniture, down 81 percent, as the prior-year period included a 7.9 million dollar marble slab liquidation sale.
Gross profit was 0.9 million dollars, representing a 14 percent gross margin, compared with gross profit of 1.0 million dollars and a gross margin of 10 percent a year earlier. The company said the furniture gross margin was 51 percent, while its API-based services were approximately break-even at the gross level.
Net loss was 9.0 million dollars, compared with a net loss of 1.1 million dollars a year earlier, driven primarily by a 10.5 million dollar non-cash unrealized loss on the company's investment in Preamble Capital, partly offset by a 3.6 million dollar deferred tax benefit. For the first nine months, net income was 23.6 million dollars.
Cash and cash equivalents were 10.6 million dollars as of September 30, 2026, compared with 6.7 million dollars at December 31, 2025. Working capital was 22.0 million dollars, up from 9.4 million dollars at year-end, and the investment in Preamble Capital funds was 79.3 million dollars. In October the company signed an agreement for dedicated NVIDIA B300 GPU capacity of up to 512 GPUs, subject to closing conditions, and its board authorized a share repurchase program of up to 30 million dollars, with repurchases commencing on November 5, 2026.
Source: XMax Inc
Published by GSM · USA (original Chinese edition)
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