Executive Summary
Maison Solutions Inc (MSS) reported QQ2 2024 revenue of $31.02 million, up 4.62% QoQ and 125.33% YoY, signaling substantial topline momentum likely reflecting store network activity or category expansion. Despite the strong revenue trajectory, profitability remained constrained, with net income of -$0.256 million and an EPS of -$0.0147, driven in part by a tax-related expense and sustained SG&A investments. EBITDA was $0.750 million, and operating income stood at $0.671 million, translating into an operating margin of 2.16% and an EBITDAR of 2.42% of revenue, indicating modest profitability on core operations while leveraging fixed costs and SG&A.
Key Performance Indicators
QoQ: -1.38% | YoY:161.01%
QoQ: -58.93% | YoY:164.50%
QoQ: -136.53% | YoY:-379.90%
QoQ: -136.57% | YoY:-247.00%
Key Insights
Revenue: $31.0199M, YoY +125.3%, QoQ +4.6%; Gross Profit: $8.1519M, Gross Margin 26.28%; Operating Income: $0.6714M, Operating Margin 2.16%; EBITDA: $0.7500M, EBITDA Margin 2.42%; Net Income: -$0.2560M, Net Margin -0.83%; EPS: -$0.0147; Free Cash Flow: $1.2248M; Cash from Ops: $1.1221M; Capex: $0.1026M; Cash at End: $0.3567M; Current Ratio: 0.478x; Quick Ratio: 0.182x; Cash Ratio: 0.0119x. Leverage metrics show Total Debt $54.4059M, Long-Term Debt $40.3749M, Debt/Equity ~4.97x, Debt to Capitaliz...
Financial Highlights
Revenue: $31.0199M, YoY +125.3%, QoQ +4.6%; Gross Profit: $8.1519M, Gross Margin 26.28%; Operating Income: $0.6714M, Operating Margin 2.16%; EBITDA: $0.7500M, EBITDA Margin 2.42%; Net Income: -$0.2560M, Net Margin -0.83%; EPS: -$0.0147; Free Cash Flow: $1.2248M; Cash from Ops: $1.1221M; Capex: $0.1026M; Cash at End: $0.3567M; Current Ratio: 0.478x; Quick Ratio: 0.182x; Cash Ratio: 0.0119x. Leverage metrics show Total Debt $54.4059M, Long-Term Debt $40.3749M, Debt/Equity ~4.97x, Debt to Capitalization 0.833, and Debt to Assets 0.658.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
31.02M |
125.33% |
4.62% |
| Gross Profit |
8.15M |
161.01% |
-1.38% |
| Operating Income |
671.37K |
164.50% |
-58.93% |
| Net Income |
-256.01K |
-379.90% |
-136.53% |
| EPS |
-0.01 |
-247.00% |
-136.57% |
Key Financial Ratios
operatingProfitMargin
2.16%
operatingCashFlowPerShare
$0.06
freeCashFlowPerShare
$0.07
priceEarningsRatio
-15.34
Management Commentary
No earnings call transcript data provided in the dataset. Consequently, there are no management-themes quotes to highlight. The analysis below incorporates only the disclosed financials and qualitative inferences based on those figures.
No earnings call transcript quotes are available for QQ2 2024 in the provided dataset.
β N/A
No additional management quotes are available in the dataset for QQ2 2024.
β N/A
Forward Guidance
There is no explicit management guidance included in the QQ2 2024 filing within the provided dataset. Given the current trajectory, a plausible outlook would hinge on: (i) sustaining revenue growth through store-level expansion or improved same-store sales in California and adjacent markets; (ii) achieving meaningful gross margin expansion via pricing, mix optimization, or supply-chain efficiencies; (iii) reducing SG&A as a percent of revenue and improving operating leverage; and (iv) deleveraging over time to restore balance-sheet flexibility. Key uncertainty points include competitive intensity in grocery, wage/operating costs, and the ability to convert top-line growth into sustained profitability. Investors should monitor: quarterly gross margin progression, SG&A cadence, working capital dynamics, and the pace of debt repayment or refinancing opportunities.