SINGAPORE, Sept. 30, 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 six months ended June 30, 2026 (“1H 2026”).
Key Financial Highlights 1H 2025US$’000 1H 2026
US$’000 Change Net revenue 180,775 198,305 10%Retail 3,382 5,314 57%Export 168,009 186,293 11%Leather Trading 9,383 6,698 (29%)By geographical 180,775 198,305 10%Asia Pacific 48,683 46,680 (4%)Europe 109,989 123,660 12%North America 22,103 27,966 27%Gross profit 49,833 56,994 14%Gross profit margin 27.6% 28.7% 1.1ppOperating expenses (40,784) (47,295) 16%Sales and distribution expenses (31,092) (36,967) 19%General and Administrative expenses (9,692) (10,328) 7%Income from operations 9,048 9,698 7%Net income 10,024 6,068 (39%)Earnings per share (Basic and diluted) 0.11 0.07 (39%)
Financial results for the six months ended June 30, 2025 (“1H 2025”) and 1H 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.
1H 2026 Performance
In 1H 2026, the Company delivered strong net revenue of US$198.3 million, representing a year-on-year increase of 10%, driven by a US$18.3 million increase in export sales. By region, net revenue from North American and Europe markets saw 27% and 12% growth respectively compared to 1H 2025, while Asia Pacific market experienced a slight decline by 4%. Retail sales continued to support the revenue growth with a 57% year-on-year increase, attributable to the expansion of the retail stores and retail sales growth in South Korea.
Gross profit rose 14% from US$49.8 million in 1H 2025 to US$57.0 million in 1H 2026, with margins expanding by 1.1 percentage points. The continuous growth was primarily attributable to a favorable shift in sales mix, along with the better sales performance in both Europe and North America. Operating expenses increased by US$6.5 million due to higher selling expenses along with larger sales volumes and increased freight and logistics costs.
Income from operations reached US$9.7 million in 1H 2026, rising by 7% from US$9.0 million in 1H 2025. In the meantime, net income decreased from US$10.0 million in 1H 2025 to US$6.1 million in 1H 2026, primarily resulting from a net foreign exchange loss of US$2.2 million during the reporting period, compared with a foreign exchange gain of US$4.3 million in the same period last year. Excluding foreign exchange gain (loss), net income would have increased by 22% from US$6.5 million in 1H 2025 to US$7.9 million in 1H 2026. Earnings per share stood at US$0.07 in 1H 2026.
Financial Position
Cash outflows from operating activities improved with a reduction from US$11.3 million in 1H 2025 to US$8.3 million in 1H 2026, representing a year-on-year decrease of 26%. Net cash used in investing activities amounted to US$2.0 million, and net cash provided by financing activities amounted to US$1.5 million during the reporting period.
As of June 30, 2026, the Company maintained a healthy liquidity position, as cash and cash equivalents totalled US$17.9 million after US$5.8 million dividend payments and short-term borrowings reduced to US$7.3 million as of June 30, 2026 from US$10.4 million as of December 31, 2025. Net current assets were US$18.3 million, underscoring the Company’s positive working capital profile.
Outlook
HomesToLife expects to maintain stable sales growth for the remainder of FY2026, in line with its earlier guidance of US$400 million to US$420 million for the full year. Building on its growing export business and diversified revenue base, the Company will remain focused on enhancing operational efficiency, prudent cost management, and working capital optimization to support sustainable long-term growth.
The Company will also continue to closely monitor external factors that may affect operating performance, including foreign exchange movements, logistics costs, raw material prices, and broader macroeconomic as well as geopolitical developments. While foreign exchange movements affected reported net income during the reporting period, the Company continues to actively manage its foreign-exchange exposure through natural hedges and risk-management measures while maintaining its geographically diversified operations, helping to mitigate the impact of currency volatility and support resilient business performance.
“The first half of 2026 demonstrated the strength of our business fundamentals and the benefits of our diversified global strategy,” said Ms. Phua Mei Ming, Chief Executive Officer of HomesToLife. “While we remain mindful of ongoing market uncertainties, we are optimistic about the opportunities ahead. We will continue to proactively manage risks, invest in product innovation, and strengthen our presence across key markets.”
The Company remains in progress with its proposed secondary listing (“Proposed Secondary Listing”) on the Main Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”). The Proposed Secondary Listing remains subject to regulatory review and approval, and if approved, the fulfilment of certain conditions and other applicable listing requirements.
About HomesToLife Ltd (Nasdaq: HTLM)
HomesToLife Ltd is a global furniture company headquartered in Singapore. Leveraging 50 years of heritage built by its founders, the Company combines wholesale distribution, consumer retail, and sourcing capabilities, supported by a diversified sourcing and supplier network across China, Vietnam and India.
The Company operates through three core business divisions: (i) export division for supplying furniture to wholesale customers such as retailers and distributors worldwide, (ii) leather trading division and (iii) retail division with direct retail operations in Singapore and South Korea.
Across these business divisions, the Company operates an integrated supply chain model that encompasses product design and development, sourcing from the Company’s manufacturing partners, and the coordination of logistics and distribution channels. This operating model enables the Company to translate designs into production-ready products efficiently, supporting both branded and white-label offerings, and allows the Company to deliver scale and consistency across multiple markets.
The Company is fast expanding across Europe, Asia-Pacific, and North America, leveraging an integrated supply chain model and a global presence to deliver scale and consistency across multiple markets.
FORWARD-LOOKING STATEMENTS
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
CAUTIONARY STATEMENT
The Proposed Secondary Listing remains subject to regulatory review and approval, and if approved, the fulfilment of certain conditions and other applicable listing requirements. As such, there is no assurance that the Proposed Secondary Listing will proceed to completion. The Company will provide further updates as and when there are material developments, in accordance with applicable laws and regulatory requirements.
Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares and to refrain from taking any action in respect of their shares which may be prejudicial to their interests. Shareholders and potential investors who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor, accountant, tax adviser or other professional adviser.
Contacts
HomesToLife Ltd Contact:
12 Tai Seng Link, #03-01A,
GRC Centre, Singapore 534233
Email: [email protected]
Investor Relations Inquiries:
Edelman Smithfield
Angela Hui
[email protected]
Current assets:
Cash and cash equivalents $27,276,091 $17,941,401 Restricted Cash - 164,026 Accounts receivables, net (including receivable from related parties of $5,763,509 and nil as of December 31, 2025 and June 30, 2026, respectively) 76,010,709 74,811,081 Inventories, net 9,599,490 10,120,517 Amounts due from related parties 7,026,092 - Deposit, prepayments and other receivables 5,853,470 6,741,958 Total current assets 125,765,852 109,778,983 Non-current assets:
Property, plant and equipment, net 4,354,206 5,884,250 Right-of-use assets, net 7,363,312 7,528,176 Restricted cash, non-current - 111,136 Investments in equity securities - 1,000,000 Other non-current assets 1,000,000 - Deferred tax asset, net 673,416 689,142 Total non-current assets 13,390,934 15,212,704 TOTAL ASSETS $139,156,786 $124,991,687 LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $4,475,242 $4,587,814 Accounts payable, related parties 74,890,989 63,749,207 Customer deposits 1,195,989 1,188,847 Accrued liabilities and other payables 6,065,126 6,697,637 Short-term borrowings 10,389,094 7,263,986 Lease liabilities, current 1,924,657 2,299,696 Warranty liabilities 2,188,814 1,930,960 Derivatives financial instruments 74,765 - Income tax payable 4,156,085 3,718,772 Total current liabilities 105,360,761 91,436,919 Long-term liabilities:
Provision for reinstatement cost 382,112 502,676 Lease liabilities 5,572,603 5,377,461 Total long-term liabilities 5,954,715 5,880,137 TOTAL LIABILITIES 111,315,476 97,317,056 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 June 30, 2026, respectively 8,969 8,969 Additional paid-in capital 37,179,424 37,179,424 Accumulated other comprehensive loss (12,111,193) (12,515,722)Retained earnings 2,764,110 3,001,960 Total shareholders’ equity 27,841,310 27,674,631 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $139,156,786 $124,991,687
From third parties $170,117,861 $190,732,226 From related parties 10,656,942 7,572,880 180,774,803 198,305,106 Cost of goods sold (130,942,258) (141,311,428) Gross profit 49,832,545 56,993,678 Operating expenses:
Sales and distribution expenses (31,092,110) (36,967,422)General and administrative expenses (9,691,952) (10,327,858)Total operating expenses (40,784,062) (47,295,280) Income from operations 9,048,483 9,698,398 Other income (expense):
Interest expense (730,372) (150,615)Interest income 16,246 19,193 Government subsidies 16,950 23,385 Foreign exchange gain (loss), net 4,293,633 (2,168,357)Net gain from related parties debt restructuring 1,460,543 - Professional fees on acquisition of HTL Marketing (1,261,560) - Scrap sofa sale income 223,263 165,621 Change in fair value of derivatives financial instruments (753,243) 74,765 Sundry income(expense) 39,404 148,095 Total other income (expense), net 3,304,864 (1,887,913) Income before income taxes 12,353,347 7,810,485 Income tax expense (2,329,272) (1,742,947)NET INCOME $10,024,075 $6,067,538 Other comprehensive income (loss):
– Foreign currency translation adjustments 1,368,175 (404,529) COMPREHENSIVE INCOME $11,392,250 $5,663,009 Weighted average number of ordinary shares:
Basic and diluted 89,687,500 89,687,500 EARNINGS PER SHARE – BASIC AND DILUTED $0.11 $0.07
unallocated Total Revenues, net
From third party $3,382,273 $166,459,189 $276,399 $- $170,117,861 From related parties - 1,550,023 9,106,919 - 10,656,942 3,382,273 168,009,212 9,383,318 - 180,774,803 Cost of goods sold (1,401,494) (120,526,294) (9,014,470) - (130,942,258) Gross profit 1,980,779 47,482,918 368,848 - 49,832,545 Operating expenses:
Sales and distribution expenses (2,404,689) (28,634,760) (52,661) - (31,092,110)General and administrative expenses (906,968) (8,099,908) (3,025) (682,051) (9,691,952)Total operating expenses (3,311,657) (36,734,668) (55,686) (682,051) (40,784,062) Operating income (loss) (1,330,878) 10,748,250 313,162 (682,051) 9,048,483 Other income (expenses):
Interest expense (125,183) (394,423) (210,766) - (730,372)Interest income 130 15,946 170 - 16,246 Government subsidies 12,238 4,712 - - 16,950 Foreign exchange gain (loss), net (9,647) 4,292,067 6,215 4,998 4,293,633 Net gain from related parties debt restructuring - - - 1,460,543 1,460,543 Professional fees on acquisition of HTL Marketing - (133,960) - (1,127,600) (1,261,560)Scrap sofa sale income - 223,263 - - 223,263 Sundry income (expense) 78,284 21,551 7 (60,438) 39,404 Change in fair value of derivatives financial instruments - (753,243) - - (753,243)Total other income (expenses), net (44,178) 3,275,913 (204,374) 277,503 3,304,864 Income (loss) before income taxes (1,375,056) 14,024,163 108,788 (404,548) 12,353,347 Income tax expense - (2,310,779) (18,493) - (2,329,272) Segment income (loss) $(1,375,056) $11,713,384 $90,295 $(404,548) $10,024,075
unallocated Total Revenues, net
From third party $5,313,821 $185,418,405 $- $- $190,732,226 From related parties - 874,947 6,697,933 - 7,572,880 5,313,821 186,293,352 6,697,933 - 198,305,106 Cost of goods sold (1,876,931) (133,106,987) (6,327,510) - (141,311,428) Gross profit 3,436,890 53,186,365 370,423 - 56,993,678 Operating expenses:
Sales and distribution expenses (3,385,506) (33,560,786) (21,130) - (36,967,422)General and administrative expenses (694,444) (8,432,743) (1,969) (1,198,702) (10,327,858)Total operating expenses (4,079,950) (41,993,529) (23,099) (1,198,702) (47,295,280) Operating income (loss) (643,060) 11,192,836 347,324 (1,198,702) 9,698,398 Other income (expenses):
Interest expense - (40,734) (109,881) - (150,615)Interest income 465 18,421 307 - 19,193 Government subsidies 15,685 7,700 - - 23,385 Foreign exchange gain (loss), net (2,426) (2,319,989) 163,712 (9,654) (2,168,357)Scrap sofa sale income - 165,621 - - 165,621 Change in fair value of derivatives financial instruments - 74,765 - - 74,765 Sundry income (expense) 89,747 (208,528) - 266,876 148,095 Total other income (expenses), net 103,471 (2,302,744) 54,138 257,222 (1,887,913) Income (loss) before income taxes (539,589) 8,890,092 401,462 (941,480) 7,810,485 Income tax expense - (1,674,699) (68,248) - (1,742,947) Segment income (loss) $(539,589) $7,215,393 $333,214 $(941,480) $6,067,538
2025 2026 USD USD
Net cash used in operating activities (11,241,457) (8,266,135)Net cash used in investing activities (557,755) (1,951,009)Net cash provided by financing activities 5,966,454 1,457,160 Effect on exchange rate change on cash and cash equivalents, and restricted cash 1,043,524 (299,544)Net change in cash and cash equivalents, and restricted cash (4,789,234) (9,059,528)BEGINNING OF PERIOD 24,860,621 27,276,091 END OF PERIOD 20,071,387 18,216,563