Alset Inc. Reports 80% Revenue Decline in Q3 2025, Despite Positive Net Income

Alset Inc. reported a significant decline in financial performance for the third quarter of 2025, with total revenue of $998,828, a decrease of approximately 80% compared to $4,960,711 in the same period of 2024. For the nine months ended September 30, 2025, revenue was $3,166,093, down 74% from $12,173,964 in the prior year. The drop in revenue is primarily attributed to the completion of property sales from the Lakes at Black Oak and Alset Villas projects in 2024, which had previously generated substantial income for the company.

Operating expenses also decreased to $3,577,806 for the third quarter of 2025, down from $5,924,492 in the same quarter of 2024. However, the company reported a net income of $1,964,001 for the third quarter of 2025, compared to a net income of $1,469,239 in the prior year. Despite the positive net income for the quarter, the nine-month results showed a net loss of $16,382,033, a significant increase from the loss of $6,994,516 reported for the same period in 2024. This loss was influenced by substantial foreign exchange transaction losses and other expenses.

In terms of strategic developments, Alset Inc. completed the acquisition of New Energy Asia Pacific Inc. for $83 million, paid through a convertible promissory note. This acquisition is part of the company's strategy to expand its portfolio in sustainable energy solutions. Additionally, the company has been active in the stock market, issuing common stock and repurchasing shares, with approximately $974,145 remaining available under its stock repurchase program as of September 30, 2025.

Operationally, Alset Inc. continues to manage a portfolio of 132 single-family residential properties in Texas, with an aggregate investment of approximately $31 million. The company has also reported a decrease in total assets, which rose to $169,106,722 as of September 30, 2025, compared to $96,761,977 at the end of 2024, largely due to increased investment securities. The company’s cash and cash equivalents decreased to $25,459,416 from $27,243,787 at the end of 2024, reflecting ongoing operational expenditures and investments.

Looking ahead, Alset Inc. aims to leverage its existing assets and strategic acquisitions to stabilize and grow its revenue streams. The management believes that the available cash and expected revenue from real estate projects will be sufficient to fund operations for at least the next 12 months. However, the company acknowledges the challenges posed by market conditions and competition, which may impact its financial performance in the future.