SINGAPORE--(BUSINESS WIRE)--March 24, 2026--
BrilliA Inc. (NYSE American: BRIA) ("BrilliA" or "the Company"), a comprehensive one-stop service and solution provider for ladies' intimate apparel brands worldwide, today announced its financial results for the six months ended September 30, 2025.
Comments from Kendrew Hartanto, Chief Executive Officer of BrilliA
"BrilliA operated in a challenging global trade environment during the first six months ended September 30. The introduction of new tariff measures affecting exports to the United States created uncertainty across the apparel supply chain. In response, we maintained pricing discipline and made the strategic decision not to accept orders that would have required the Company to absorb the full tariff burden. While this impacted near-term revenue, we believe it was the right decision to protect margins and long-term shareholder value."
"Despite these headwinds, we reduced costs of goods sold and continued to improve cost efficiency across our operations. Our focus on disciplined inventory management, manufacturing efficiency, and supply chain optimization enabled us to deliver positive cash flow and strengthen our financial position during the period."
"Looking ahead, we remain focused on expanding our B2B export business selectively in North America while increasing our presence in other international markets. At the same time, we are accelerating our branding strategy, including the continued development of our DIANA lingerie brand and potential brand acquisitions and licensing opportunities. We are also excited about the opportunity to diversify our revenue streams and improve production capacity utilization across Asia through our collaboration with Ai Sakura, which is enabling us to enter Japan's higher-margin athleisure market in the second half of 2026. While U.S. tariff-related effects and macroeconomic uncertainty will continue to weigh on our performance in the near-term, we believe the combination of these initiatives will position BrilliA to return to growth and expand our revenue across Indonesia, Malaysia, Singapore, and the broader ASEAN region."
Six Months Ended September 30, 2025 Results
BrilliA reported revenue of $24.6 million, compared to $27.4 million in the same period of 2024, a decrease of 10.3%. The revenue decline was primarily due to a 13.5% drop in North American export sales, or approximately $3.2 million. This was partially offset by growth in the Asia-Pacific region, which increased by about $0.4 million. The revenue performance was impacted by disruption to global garment trade flows arising from the introduction of broad-based U.S. tariff measures in April 2025, including a reciprocal tariff on goods of Indonesian origin, which materially affected buyer confidence, order timing, and pricing dynamics across the industry during the period. As a company that engages Indonesian contract manufacturers to produce goods for sale to customers in the United States, BrilliA was directly exposed to these pressures.
Despite the revenue headwinds, the Company generated positive operating cash flow of $2.1 million, a significant turnaround from the $0.2 million cash outflow recorded in the same period of 2024. This improvement was supported by a 9.1% reduction in cost of goods sold, reflecting BrilliA's continued focus on manufacturing efficiency and cost discipline.
Gross profit margin was 14.3%, compared to 15.4% in the prior year period, with compression reflecting the broader pricing environment. Net income was $41 thousand, compared to $1.1 million in the prior year period, with the variance primarily driven by gross profit decline and increases in other operating expenses.
Cash and cash equivalents at September 30, 2025 were approximately $6.6 million, compared with approximately $7.7 million at March 31, 2025. The movement reflects the payment of a $3.3 million dividend during the period. Total assets at September 30, 2025 were $31.1 million, an increase of 9.5% compared to $28.4 million at March 31, 2025. The Company maintained a current ratio of 1.93x, reflecting a sound liquidity position.
About BrilliA
BrilliA is a comprehensive one-stop service and solution provider for over 30 ladies' intimate apparel brands worldwide, managing sourcing, design, prototyping, supply chain, logistics, and quality control. The Company works with major international companies, including Fruit of the Loom, Hanes Brands Inc., and H&M.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. These statements include, but are not limited to, statements regarding BrilliA's business strategy, market opportunities, future performance, and operational outlook. These forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including, but not limited to, global economic conditions, supply chain disruptions, customer demand, pricing pressures, and other factors described in the Company's filings with the U.S. Securities and Exchange Commission (SEC). BrilliA undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable law. BrilliA does not guarantee future results and undertakes no obligation to update these statements, except as required by law. Investors are encouraged to review BrilliA's filings with the U.S. Securities and Exchange Commission (SEC) for additional risk factors.
BrilliA Inc. and Its Subsidiaries
Unaudited Interim Condensed
Consolidated Statements of Profit or Loss and Other Comprehensive Income
For the Six Months Ended September 30, 2025
Successor
Predecessor Five months Successor
One month from from May 1, Six months Successor Six
April 1, 2024 2024 to ended months ended
to April 30, September 30, September September 30,
2024 2024 30, 2024 2025
Note (Unaudited)* (Unaudited) (Unaudited)* (Unaudited)*
---- -------------- ------------- ------------ --------------
USD'000 USD'000 USD'000 USD'000
Revenue 19 4,666 22,758 27,424 24,596
Cost of
materials (2,536) (12,554) (15,090) (13,180)
Contract
manufacturers
charges (1,245) (6,870) (8,115) (7,901)
-------- --- -------- ----------- -----------
Gross profit 885 3,334 4,219 3,515
Other income 20 7 48 55 89
Depreciation of
property, plant
and equipment (3) (19) (23) (24)
Depreciation of
right-of-use
assets (38) (191) (229) (205)
Employee benefit
expense 21 (216) (1,343) (1,559) (1,518)
Other expenses 22 (168) (862) (1,030) (1,593)
Finance costs 23 (12) (56) (68) (49)
Net gain on
impairment of
financial
assets -- 74 74 4
-------- ---- -------- --- ----------- -----------
Profit before
income taxes 454 985 1,439 219
Income tax
expenses 24 (87) (220) (307) (178)
-------- --- -------- ----------- -----------
Profit for the
financial
period 367 765 1,132 41
======== ==== ======== === =========== ===========
Other
comprehensive
income
Items that may
be reclassified
subsequently to
profit or loss
Gain on foreign
currency
translation 41 412
----------- -----------
Other
comprehensive
income, net of
tax 41 412
=========== ===========
Total
comprehensive
income for the
period 1,173 453
=========== ===========
Profit
attributable
to:
Owners of the
parent 1,130 41
Non-controlling
interest 2 --
----------- -----------
1,132 41
=========== ===========
Total
comprehensive
income
attributable
to:
Owners of the
parent 1,171 453
Non-controlling
interest 2 --
----------- -----------
1,173 453
=========== ===========
Weighted average
number of
ordinary shares
basic and
diluted 25 25,000,000 25,000,000
Earnings per
share
attributable to
ordinary
shareholders
basic and
diluted 25 0.047 0.002
=========== ===========
The accompanying notes are an integral part of these unaudited interim consolidated
financial statements.
BrilliA Inc. and Its Subsidiaries Unaudited Interim Condensed
Consolidated Statements of Financial Position As of March 31, 2025 and
September 30, 2025
As of As of
March 31, September 30,
2025 2025
Note (Audited) (Unaudited)*
------- ---------- ----------------
USD'000 USD'000
ASSETS
Non-current assets
Property, plant and equipment,
net 4 136 173
Right-of-use assets 5 1,580 1,384
Other investments 6 1,000 1,000
--------- -------------
Total non-current assets 2,716 2,557
--------- -------------
Current assets
Inventories 7 7,281 7,455
Trade and other receivables 8 10,406 14,140
Amounts due from related parties 9 235 332
Income tax recoverable 67 67
Cash and cash equivalents 10 7,703 6,571
--------- -------------
Total current assets 25,692 28,565
--------- -------------
Total assets 28,408 31,122
========= =============
LIABILITIES AND EQUITY
Non-current liabilities
Lease liabilities 11 1,299 1,100
--------- -------------
1,299 1,100
--------- -------------
Current liabilities
Trade and other payables 12 5,393 11,168
Amount due to a director 13 3 --
Amount due to a shareholder 14 52 --
Amount due to a related parties 15 125 --
Lease liabilities 11 382 394
Income tax payable 3,080 3,258
--------- -------------
Total current liabilities 9,035 14,820
--------- -------------
Total liabilities 10,334 15,920
========= =============
Capital and reserves
Share capital 16 13,848 13,848
Merger reserve 17 (5,913) (5,913)
Translation reserve 18 (180) 232
Retained earning 10,303 7,019
--------- -------------
18,058 15,186
--------- -------------
Non-controlling interests 16 16
--------- -------------
Total shareholders' equity 18,074 15,202
--------- -------------
Total liabilities and equity 28,408 31,122
========= =============
The accompanying notes are an integral part of these unaudited interim
consolidated financial statements.
BrilliA Inc. and Its Subsidiaries
Unaudited Interim Condensed
Consolidated Statements of Cash Flows
For the Six Months Ended September 30, 2024 and 2025
Six months ended Six months ended
September 30, September 30,
2024 2025
(Unaudited) (Unaudited)
------------------ ------------------
USD'000 USD'000
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net profit for the financial period 1,439 219
Adjustments to reconcile net profit
to net cash used in operating
activities:
------------------------------------
Depreciation of property, plant and
equipment 23 24
Depreciation of right-of-use assets 229 205
Finance cost 68 49
Interest income (59) (70)
Net gain on impairment of financial
assets (74) (4)
Unrealized gain on foreign currency
exchange (5) --
Changes in operating assets and
liabilities:
------------------------------------
Inventories (2,875) (174)
Trade and other receivables 657 (3,827)
Trade and other payables 403 5,650
Income tax paid (3) --
-------------- --------------
Net cash (used in)/from operating
activities (197) 2,072
-------------- --------------
Investing activities
Interest income 59 70
Purchase of plant and equipment (49) (61)
-------------- --------------
Net cash from investing activities 10 9
-------------- --------------
Financing activities
Advances/(Repayment) from directors 3 (3)
Repayments to shareholders (5) (52)
Dividends paid -- (3,325)
Payments of:
- Principal (211) (190)
- Interest (68) (49)
-------------- --------------
Net cash used in financing
activities (282) (3,619)
-------------- --------------
Net decrease in cash and cash
equivalents (468) (1,538)
Effects of exchange rate changes (17) 406
Cash and bank balances at beginning
of the financial period 6,383 7,703
-------------- --------------
Cash and bank balances at end of the
financial period 5,898 6,571
-------------- --------------
View source version on businesswire.com: https://www.businesswire.com/news/home/20260324671204/en/
CONTACT:
Investor Contact
FNK IR
Matt Chesler, CFA
(+1) 646 809 2189
bria@fnkir.com
(END) Dow Jones Newswires
March 24, 2026 07:00 ET (11:00 GMT)
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