O
OSR Holdings, Inc.
OSRHCIK 0001840425NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31
Period
FY 2025
Revenue
$2.91M
Net Income
$-27.06M
Total Assets
$171.24M
Equity
$127.04M
Shares Out
33.12M
Op. Cash Flow
$-4.33M
Business
OSR Holdings, Inc. is a global healthcare holding company that identifies, leads and supports subsidiaries focused on innovative pharmaceutical and medical device research. It offers drug and device development, licensing, intellectual property management and commercialization support, and it operates as a hub-and-spoke investor and operator. Its key business segments include Vaximm (oral T‑cell immunotherapies), Darnatein (design‑augmented biologics for bone and cartilage regeneration) and RMC (neurovascular device distribution). The company operates in major healthcare markets with operations in South Korea and Switzerland and an office in the United States, using academic and industry partnerships, CMOs and distributor networks to advance and commercialize products.
Summary from filing dated 2025-04-22
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net sales | 3 | 4 | — | — | — | |
| Cost of sales | 2 | 3 | — | — | — | |
| Gross profit | 592,905 | 811,236 | — | — | — | |
| Selling, general, and administrative expenses | 19 | 13 | 2 | 35,388 | 3,308 | |
| Operating loss | −18 | −12 | −2 | 35,388 | 3,308 | |
| Interest income | 63,883 | 21,294 | 3 | — | — | |
| Interest expense | −506,196 | −51,335 | — | — | — | |
| Other income | 4 | 99,194 | — | — | — | |
| Other expenses | −14 | −269,635 | — | — | — | |
| Loss before income taxes | −29 | −12 | 944,591 | — | — | |
| Income tax benefit | 2 | 2 | −540,811 | — | — | |
| Net loss | −27 | −10 | — | — | — | |
| OSR Holdings, Inc. and subsidiaries | −18 | −10 | — | — | — | |
| Non-controlling interests | −9 | — | — | — | — | |
| Gain(loss) on foreign currency translation | 6 | 50,489 | — | — | — | |
| Total comprehensive loss for the year | −21 | −10 | — | — | — | |
| OSR Holdings, Inc. and subsidiaries | −14 | −10 | — | — | — | |
| Non-controlling interests | −7 | — | — | — | — | |
| Basic loss per ordinary share (in Dollars per share) | −0.92 | −4.79 | 0.05 | −0.01 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 2 | 341,543 | 15,419 | 124,501 | 4,757 | |
| Trade and other receivables, less allowance for credit losses of $62,370.40 and $67,579.81 as of December 31, 2025 and December 31, 2024, respectively | 392,096 | 933,824 | — | — | — | |
| Inventories, net | 196,432 | 922,107 | — | — | — | |
| Prepaid income taxes | 1,750 | 39 | — | — | — | |
| Other current financial assets | 262,722 | 54,422 | — | — | — | |
| Other current assets | 263,548 | 74,555 | — | — | — | |
| Total current assets | 3 | 2 | 22,627 | 124,501 | 4,757 | |
| Equipment and vehicles, net | 169,130 | 2,334 | — | — | — | |
| Operating lease right-of-use assets, net | 60,425 | 78,484 | — | — | — | |
| Intangible assets, net | 142 | 148 | — | — | — | |
| Goodwill | 25 | 24 | 28 | — | — | |
| Other non-current financial assets | 578,917 | 329,252 | — | — | — | |
| Deferred tax assets | 200,515 | 92,101 | — | — | — | |
| Total assets | 171 | 175 | 37 | 1 | 705,087 | |
| Short-term borrowing | 2 | 2 | — | — | — | |
| Short-term corporate bond | 2 | — | — | — | — | |
| Trade and other payables | 8 | 1 | — | — | — | |
| Accrued expenses | 957,879 | 459,883 | — | — | — | |
| Operating lease liabilities-current | 46,961 | 44,741 | — | — | — | |
| Other current liabilities | 971,445 | 79,777 | 72,000 | 17,000 | — | |
| Income taxes payable | 485,452 | 255 | — | — | — | |
| Derivative liabilities | 3 | — | — | — | — | |
| Total current liabilities | 17 | 3 | 2 | 1 | 707,207 | |
| Long-term debt | — | 497,615 | — | — | — | |
| Operating lease liabilities- non-current | 12,551 | 33,372 | — | — | — | |
| Other non-current liabilities | 1,697 | 1,656 | — | — | — | |
| Deferred tax liabilities | 27 | 28 | — | — | — | |
| Total liabilities | 44 | 32 | 4 | 1 | 707,207 | |
| Common stock, $0.0001 par value, Authorized 100,000,000 shares; 26,597,788 shares and 2,155,000 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 2,660 | 216 | 216 | 173 | 173 | |
| Additional paid-in capital | 111 | 163 | — | — | — | |
| Accumulated deficit | −37 | −19 | −4 | −62,508 | −27,120 | |
| Accumulated other comprehensive income | 4 | −225,386 | — | — | — | |
| Non-controlling interests | 49 | — | — | — | — | |
| Total stockholders equity | 127 | 143 | 153 | — | — | |
| Total liabilities and stockholders equity | 171 | 175 | 37 | 1 | 705,087 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation | 7,269 | 5,900 | — | — | — | |
| Amortization | 9 | 10 | — | — | — | |
| Loss on inventory valuation | −8,832 | 12,991 | — | — | — | |
| Loss on disposal of tangible assets | — | 2,159 | — | — | — | |
| Lease expense | 54,844 | 73,681 | — | — | — | |
| Bad debts | 42,257 | 57,706 | — | — | — | |
| Severance pay | — | 80,706 | — | — | — | |
| Commissions and professional fees | 3 | — | — | — | — | |
| Loss on change in fair value of financial liabilities | 6 | — | — | — | — | |
| Merger and acquisition costs | 9 | — | — | — | — | |
| Loss on foreign currency translation | 74,079 | 169,014 | — | — | — | |
| Gain on change in fair value of financial liabilities | −4 | — | — | — | — | |
| Gain on foreign currency translation | −46,018 | — | — | — | — | |
| Decrease in trade and other receivables | 570,733 | 87,785 | — | — | — | |
| Decrease in inventories, net | 763,734 | 305,604 | — | — | — | |
| Decrease (increase) in other current assets | 350,645 | −15,465 | — | — | — | |
| Decrease in trade and other payables | −510,232 | −344,032 | — | — | — | |
| Increase in accrued expenses | 476,645 | 3,392 | — | — | — | |
| Decrease in lease liabilities | −54,844 | −73,681 | — | — | — | |
| Increase (decrease) in tax payables | 153,618 | −14,792 | 524,562 | — | — | |
| Increase (decrease) in other liabilities | −44,841 | 8,162 | — | — | — | |
| Net cash used in operating activities | −4 | −2 | −818,766 | −4,235 | −461 | |
| Decrease in deposits | — | 8,319 | — | — | — | |
| Decrease in short-term loan | — | 696,279 | — | — | — | |
| Purchase of FVTPL financial assets | −433,126 | — | — | — | — | |
| Disposal of equipment and vehicles | 1,022 | 6,221 | — | — | — | |
| Purchase of tangible assets | −176,385 | — | — | — | — | |
| Increase in deposits | — | −7,331 | — | — | — | |
| Increase in short-term loan | −3 | −199,877 | — | — | — | |
| Increase in long-term loan | −33,766 | — | — | — | — | |
| Increase in cash and cash equivalents from business combination | 1 | — | — | — | — | |
| Net cash provided by (used in) investing activities | −3 | 503,611 | −34 | — | — | |
| Proceeds from long-term debt | — | 236,672 | — | — | — | |
| Proceeds from short-term borrowing | 4 | 2 | — | — | — | |
| Extension of lease liability | 22,097 | — | — | — | — | |
| Repayment of long-term debt | −514,333 | −49,250 | — | — | — | |
| Repayment of short-term borrowing | −500,316 | −655,232 | — | — | — | |
| Issuance of convertible bonds | 1 | — | — | — | — | |
| Repayment of short-term corporate bond | −652,207 | — | — | — | — | |
| Proceeds from issuance of common stock | 5 | — | 9 | — | — | |
| Net cash provided by financing activities | 8 | 1 | 35 | 123,979 | −57,435 | |
| Net change in cash and cash equivalents | 1 | −161,529 | −109,082 | 119,744 | −57,896 | |
| Effects of changes in exchange rate on cash and cash equivalents | −38,415 | −37,135 | — | — | — | |
| Cash paid for interest | 506,801 | 53,993 | — | — | — | |
| Cash paid for income taxes (net of refunds received) | 153,618 | 14,792 | — | — | — |
Filings
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