HomesToLife Delivers 36% Increase in Q1 2026 Net Profit to $3.2 Million on Export Growth and Stronger Margins

SINGAPORE, May 29, 2026 (GLOBE NEWSWIRE) -- HomesToLife Ltd (Nasdaq: HTLM) (“HomesToLife” or the “Company”), a Singapore-based home furniture company with sales across Asia-Pacific, Europe and North America, today announced its unaudited financial results for the quarter ended March 31, 2026 (“Q1 2026”).

Key Financial Highlights
  Q1 2025  Q1 2026  Change  US$’000  US$’000  (%) Net revenue79,486  92,530  16%Export74,488  87,132  17%Retail1,442  2,484  72%Leather3,556  2,914  (18)%By geographical79,486  92,530  16%Asia Pacific23,030  22,666  (2)%Europe45,790  57,731  26%North America10,666  12,133  14%Gross profit20,056  26,859  34%Gross margin (%)25.2% 29.0% 3.8 pp Operating expenses17,938  22,009  23%Selling expenses13,190  17,376  32%General and Administrative4,412  4,356  (1)%Listing expenses336  277  (18)%Income from operations2,117  4,850  129%Net income2,381  3,243  36%         Earnings per share (Basic and diluted)0.027  0.036  36%         

Financial results for the quarter ended March 31, 2025 (“Q1 2025”) and Q1 2026, unless otherwise stated, reflect the inclusion of HTL Marketing Pte. Ltd. (“HTL Marketing”) because of the acquisition of 100% of equity interests in HTL Marketing completed on May 19, 2025. 

Q1 2026 Performance

The Company reported net revenue of $92.5 million in Q1 2026, a 16% increase from $79.5 million in Q1 2025. Growth was primarily driven by a $12.6 million increase in export sales. By region, the net revenue from Europe and North America increased by 26% and 14% respectively, partially offset by a slight decline of 2% in Asia Pacific. Retail sales contributed the increase of $1.0 million in Q1 2026, attributable to the expansion of the retail stores and retail sales growth in Korea.

Gross profit rose 34% to $26.9 million, with gross margin expanding 3.8 percentage points to 29.0%, supported by a more favourable sales mix. Operating expenses increased by $4.1 million mainly due to higher selling expenses in line with increased sales volume, as well as rising shipping and trucking costs.

Income from operations increased by 129% from $2.1 million in Q1 2025 to $4.9 million in Q1 2026. The Company recorded a foreign exchange loss of $1.0 million in Q1 2026, compared to a gain of $1.2 million in Q1 2025, primarily due the strengthening of the Chinese Renminbi against the US Dollar.

Net income rose 36% from Q1 2025 to $3.2 million in Q1 2026, with earnings per share at $0.036 in Q1 2026.

Financial Position

Cash flow from operating activities improved to an inflow of $2.0 million in Q1 2026, compared to an outflow of $1.1 million in the same period last year. Net cash used in investing and financing activities amounted to $0.01 million and $2.4 million, respectively.

As of March 31, 2026, the Company maintained a strong liquidity position, with cash and cash equivalents of $26.6 million and total short-term borrowings of $3.7 million.

Outlook

HomesToLife expects to remain well supported by its strong balance sheet and plans to continue to exercise disciplined capital allocation to ensure it is well positioned to capture future growth opportunities.

The Company projects FY2026 revenue to be in the range of $400 million to $420 million, underpinned by sustained strength in the export market, barring unforeseen circumstances.    

The Company intends to continue to monitor geopolitical developments in the Middle East. While there has been no material impact on the Company’s financial performance, the Company expects to remain attentive to potential secondary effects, including volatility in global energy prices, supply chain disruptions, and fluctuations in raw material costs and currency markets. The Company’s guidance reflects current market conditions, and the Company plans to provide updates as appropriate should conditions evolve.

“Our strong performance despite ongoing geopolitical developments reflects the resilience of our business and the benefits of our geographically diversified operations,” said Ms. Phua Mei Ming, Chief Executive Officer of HomesToLife. “We will remain vigilant in observing ongoing developments and respond with agility, while continuing to pursue new growth opportunities and deepen presence in our key markets.” 

About HomesToLife Ltd (Nasdaq: HTLM)

HomesToLife Ltd is a global furniture company with three core divisions: (i) consumer retail division with direct operations in Singapore and Korea, (ii) export division for supplying furniture to retail partners worldwide, and (iii) leather trading division.

Leveraging more than 50 years of heritage built by its founders, HTLM combines retail, distribution and sourcing, supported by a diversified manufacturing network across China, Vietnam and India.

In May 2025, HTLM strengthened its design, product development and merchandising function through the acquisition of HTL Marketing.

HTLM is fast expanding across Europe, Asia-Pacific, and North America, leveraging long-standing supplier partnerships and a global presence to deliver scale, efficiency, and resilience.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect financial condition, results of operations, business strategy and financial needs of the Company and its subsidiaries. Forward-looking statements can be identified by the words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

Contacts

HomesToLife Ltd Contact:

6 Raffles Boulevard, #02-01/02
Marina Square, Singapore 039594
Email: [email protected]

Investor Relations Inquiries:

Edelman Smithfield
Jass Lim
Enya Rodrigues
[email protected]

HOMESTOLIFE LTD AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS(Currency expressed in United States Dollars (“US$”), except for number of shares)  As of  December 31, 2025  March 31, 2026 ASSETS 　   　 Current assets:       Cash and cash equivalents$27,276,091  $26,630,923 Accounts receivables, net (including receivable from related parties of $5,763,509 and nil as of December 31, 2025 and March 31, 2026, respectively) 76,010,709   65,017,746 Inventories, net 9,599,490   10,860,302 Amounts due from related parties 7,026,092   3,324,798 Deposit, prepayments and other receivables 5,853,470   9,432,921 Total current assets 125,765,852   115,266,690         Non-current assets:       Property, plant and equipment, net 4,354,206   4,161,787 Right-of-use assets, net 7,363,312   7,173,460 Investments in equity securities -    1,000,000 Other non-current assets 1,000,000   -  Deferred tax asset, net 673,416   683,542 Total non-current assets 13,390,934   13,018,789         TOTAL ASSETS$139,156,786  $128,285,479         LIABILITIES AND SHAREHOLDERS’ EQUITY       Current liabilities:       Accounts payable$4,475,242  $3,811,953 Accounts payable, related parties 74,890,989   65,541,579 Customer deposits 1,195,989   1,397,090 Accrued liabilities and other payables 6,065,126   8,325,239 Short-term borrowings 10,389,094   3,666,845 Lease liabilities, current 1,924,657   2,180,557 Warranty liabilities 2,188,814   2,046,420 Derivatives financial instruments 74,765   44,250 Income tax payable 4,156,085   4,967,603 Total current liabilities 105,360,761   91,981,536         Long-term liabilities:       Provision for reinstatement cost 382,112   376,996 Lease liabilities 5,572,603   5,124,982 Total long-term liabilities 5,954,715   5,501,978         TOTAL LIABILITIES 111,315,476   97,483,514         Commitments and contingencies -   -         Shareholders’ equity:       Ordinary share, $0.0001 par value, 500,000,000 shares authorized,89,687,500 and 89,687,500 shares issued and outstanding as of December 31, 2025 and March 31, 2026 8,969   8,969 Additional paid-in capital 37,179,424   37,179,424 Accumulated other comprehensive loss (12,111,193)  (12,393,912)Retained earnings 2,764,110   6,007,484 Total shareholders’ equity 27,841,310   30,801,965         TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$139,156,786  $128,285,479 

  

HOMESTOLIFE LTD AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(Currency expressed in United States Dollars (“US$”), except for number of shares)  For the three months ended March 31,  2025  2026       Revenues, net$79,486,220  $92,530,240 From third parties 75,072,914   89,278,472 From related parties 4,413,306   3,251,768 Cost of goods sold (59,430,588)  (65,671,202)        Gross profit 20,055,632   26,859,038         Operating expenses:       Sales and distribution expenses (13,190,446)  (17,375,828)General and administrative expenses (4,411,766)  (4,355,608)Listing expenses (336,180)  (277,068)Total operating expenses (17,938,392)  (22,008,504)        Income from operations 2,117,240   4,850,534         Other income (expense):       Interest expense (277,998)  (140,628)Interest income 14,091   14,092 Government subsidies 15,114   15,530 Foreign exchange gain (loss), net 1,217,045   (992,186)Scrap sofa sale income 110,727   94,747 Change in fair value of derivatives financial instruments (434,696)  30,515 Sundry income 285,199   251,380 Total other income (expense), net 929,482   (726,550)        Income before income taxes 3,046,722   4,123,984         Income tax expense (666,002)  (880,610)        NET INCOME$2,380,720  $3,243,374         Other comprehensive income (loss):       – Foreign currency translation adjustments 775,466   (282,719)        COMPREHENSIVE INCOME$3,156,186  $2,960,655         Weighted average number of ordinary shares:       Basic and diluted * 89,687,500   89,687,500         EARNINGS PER SHARE – BASIC AND DILUTED$0.027  $0.036         

* The share amounts and per share data are presented on a retroactive basis, to reflect the effect of the completion of the acquisition of HTL Marketing on May 19, 2025, which is accounted for as a common control acquisition. 

HOMESTOLIFE LTD AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME – SEGMENT REPORTING(Currency expressed in United States Dollars (“US$”), except for number of shares)  For the three months ended March 31, 2025  Retails Sales  Export Sales  Leather Trading  Corporate and unallocated  Total Revenues, net                   From third party$1,442,092  $73,513,401  $117,421  $-  $75,072,914 From related parties -   974,935   3,438,371   -   4,413,306   1,442,092   74,488,336   3,555,792   -   79,486,220 Cost of goods sold (584,869)  (55,407,245)  (3,438,474)  -   (59,430,588)  　   　   　   　     Gross profit 857,223   19,081,091   117,318   -   20,055,632                     Operating expenses:                   Sales and distribution expenses (753,948)  (12,391,007)  (45,491)  -   (13,190,446)General and administrative expenses (427,893)  (3,973,333)  (1,502)  (9,038)  (4,411,766)Listing expenses -   -   -   (336,180)  (336,180)Total operating expenses (1,181,841)  (16,364,340)  (46,993)  (345,218)  (17,938,392)                    Operating (loss) income (324,618)  2,716,751   70,325   (345,218)  2,117,240                     Other income (expenses):                   Interest expense (61,306)  (139,674)  (77,018)  -   (277,998)Interest income 56   13,983   52   -   14,091 Government subsidies 10,464   4,650   -   -   15,114 Foreign exchange (loss) gain, net (2,389)  1,212,673   6,031   730   1,217,045 Scrap sofa sale income -   110,727   -   -   110,727 Change in fair value of derivatives financial instruments -   (434,696)  -   -   (434,696)Sundry income (expense) 277   (611)  7   285,526   285,199 Total other income (expenses), net (52,898)  767,052   (70,928)  286,256   929,482                     Income (loss) before income taxes (377,516)  3,483,803   (603)  (58,962)  3,046,722 Income tax expense -   (666,105)  103   -   (666,002)                    Segment income (loss)$(377,516) $2,817,698  $(500) $(58,962) $2,380,720 

  

 For the three months ended March 31, 2026  Retails Sales  Export Sales  Leather
Trading  Corporate and unallocated  Total Revenues, net                   From third party$2,483,924  $86,794,548  $-  $-  $89,278,472 From related parties -   338,099   2,913,669   -   3,251,768   2,483,924   87,132,647   2,913,669   -   92,530,240 Cost of goods sold (879,645)  (62,072,983)  (2,718,574)  -   (65,671,202)                    Gross profit 1,604,279   25,059,664   195,095   -   26,859,038                     Operating expenses:                   Sales and distribution expenses (1,679,658)  (15,688,646)  (7,524)  -   (17,375,828)General and administrative expenses (280,996)  (4,045,643)  (1,049)  (27,920)  (4,355,608)Listing expenses -   -   -   (277,068)  (277,068)Total operating expenses (1,960,654)  (19,734,289)  (8,573)  (304,988)  (22,008,504)                    Operating income (loss) (356,375)  5,325,375   186,522   (304,988)  4,850,534                     Other income (expenses):                   Interest expense (78,034)  (17,092)  (45,502)  -   (140,628)Interest income 263   13,658   171   -   14,092 Government subsidies 12,480   3,050   -   -   15,530 Foreign exchange gain (loss), net 4,299   (1,123,612)  127,041   86   (992,186)Scrap sofa sale income -   94,747   -   -   94,747 Change in fair value of derivatives financial instruments -   30,515   -   -   30,515 Sundry income (expense) (1,083)  (14,413)  -   266,876   251,380 Total other income (expenses), net (62,075)  (1,013,147)  81,710   266,962   (726,550)                    Income (loss) before income taxes (418,450)  4,312,228   268,232   (38,026)  4,123,984 Income tax expense -   (835,011)  (45,599)  -   (880,610)                    Segment income (loss)$(418,450) $3,477,217  $222,633  $(38,026) $3,243,374 

HOMESTOLIFE LTD AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS(Currency expressed in United States Dollars (“US$”), except for number of shares)  Three months ended March 31,  2025  2026       Net cash provided by /(used in) operating activities$(1,078,832) $2,009,352 Net cash used in investing activities (349,807)  (13,288)Net cash used in financing activities (191,596)  (2,420,955)Effect on exchange rate change on cash and cash equivalents 557,598   (220,277)  (1,062,637)  (645,168)BEGINNING OF PERIOD 24,860,621   27,276,091         END OF PERIOD$23,797,984  $26,630,923