How profitable is Garden Stage Limited (Class A) (GSIW)?

In FY 2025 (10-K), GSIW converted $7.3M of revenue into a 52% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

Stock Ratings / Financials / GSIW / financials

WTF (28) EVF (45) USIO (46) SIEB (47) ⌘ Pro Terminal →

Garden Stage Limited (Class A) (GSIW) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$10.04 +10.09% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $10.20

Garden Stage Limited (Class A) (GSIW) carries a Roarable Rating of E (Strong Sell) with 27/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

📊 Historical Track Record Warning: Scores below 50 (27/100 · E) historically underperformed SPY in 71% of rolling 90-day windows →

ROARABLE E • RED ALERT Cap $97.7M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on GSIW Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is GSIW stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Garden Stage Limited (Class A) (NASDAQ: GSIW) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 27/100 at a spot price of $10.04 (+10.09% 1D, market cap $97.7M). Pillar breakdown: Fundamental Cash Engine 8/20, Institutional 13F & Options Flow 3/20, Executive Insider Alignment 8/20, FRED Macro Regime Fit 5/20, and SEC Balance-Sheet Forensics 3/20. Across 1096 tracked Financials issuers, GSIW ranks #1045 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does GSIW compare to WTF and EVF in the Financials sector?

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Within the Financials sector (Investment Bankers/Brokers/Service), GSIW carries a Roarable E (27/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of —. By comparison, WTF (Waton Financial Limited) holds a E grade (28/100 RQD, P/E N/A, ROIC —, cap $99.9M) and EVF (Eaton Vance Senior Income Trust) posts a D grade (45/100 RQD, P/E N/A, ROIC —, cap $84.9M). Among the 5-stock peer group, GSIW leads on earnings multiple (N/A) while SIEB leads on capital efficiency (6.2% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for GSIW?

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Per GSIW's SEC EDGAR XBRL 10-K filing (FY2025, filed 2026-03-31, CIK 0001954269), Garden Stage Limited (Class A) generated $7.3M in revenue (+33.2% YoY), -$13.8M in net income, and -$4.2M in free cash flow against $0 in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $10.20 (+1.63%)🧬 Dilution Drag (+2.48% YoY Shares)⚙️ Cash Engine: 8/20 (D-) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (27/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-10.3% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERRED ALERT • E

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk E

Each axis scored 0–20

12M PRICE TARGET CONE-13.9% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for GSIW)Realized 20D OHLCV Swing Band: ±9.8%

Deterministic 5-Pillar Attribution (27/100 Composite)

🔍 WHY GSIW SCORES 27/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Cash Engine Quality+8/20 pts (30% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 52% Gross Margin

▲ #2 Bullish Driver: SEC 10-K Forensic Risk+8/20 pts (30% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 2/9

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade E$10.39-1.1% Next Q

Q2 (-2Q)

Grade E$10.28-10.7% Next Q

Q3 (-1Q)

Grade E$9.18+9.4% Next Q

Current

Grade E$10.04-10.3% Hist 90D α

Trajectory: E (35) → E (27)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a GSIW Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While GSIW currently carries a cautious 27/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Financials with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($12.46) and Max Pain ($10.54) forces dealer call-delta covering toward $44.10.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $GSIW• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “GSIW Beats Next Quarter EPS Consensus (Dec 29, 2026) & Holds Above 200D SMA”

YES 27%NO 73%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How GSIW Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $1.4M

FY24

Rev $5.5M

FY25

Rev $7.3M

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$7.3M	52%	0%	-$13.8M	-$4.2M	15%
FY 2024	$5.5M	52%	0%	-$4.3M	-$1.4M	15%
FY 2023	$1.4M	52%	0%	-$4.6M	-$7.1M	15%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring GSIW)

✓Walkthrough of GSIW's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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Join Founding VIP Waitlist (No Card Required) →$100K Arena

GSIW // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -67.41%📐 HORIZONTAL RANGE

2026-11-03O $9.12H $10.04L $9.12C $10.04VOL 95

SUP: $5.63SMA50: $12.46SMA200: $22.13

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

GSIW Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 GSIW Butterfly Map → + Track GSIW →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

8.0%/yr Implied 5Y Growth

vs. +33.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on GSIW today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for GSIW. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for GSIW today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (GSIW)

Financials Rank #1045 of 1096 ⚔️ WTF vs GSIW Full Matrix →

1. Head-to-Head Financials Peer Comparison (GSIW vs. WTF, EVF, USIO, SIEB)

Industry: Investment Bankers/Brokers/Service (64 Tracked Issuers)

Across 1096 tracked Financials securities in the Roarable RQD universe, Garden Stage Limited (Class A) (GSIW) ranks #1045 by composite RQD confidence (27/100, grade E) and #959 by equity capitalization ($97.7M). Within this direct 5-issuer industry benchmark cohort, GSIW leads on earnings valuation at N/A trailing P/E, while SIEB leads on capital efficiency and profitability with 6.2% ROIC and — gross margin. SIEB currently holds the highest overall quantitative score in the immediate peer group at 47/100 (D) compared with GSIW at 27/100 (E).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
GSIW ACTIVE Garden Stage Limited (Class A)	E	27/100	—	—	—	+10.09%	$97.7M	Benchmark Subject
WTF Waton Financial Limited	E	28/100	—	—	—	+4.83%	$99.9M	/wtf-vs-gsiw →
EVF Eaton Vance Senior Income Trust	D	45/100	—	—	—	+0.41%	$84.9M	/evf-vs-gsiw →
USIO Usio Inc.	D	46/100	—	—	-16.1%	-3.08%	$83.2M	/usio-vs-gsiw →
SIEB Siebert Financial Corp.	D	47/100	—	—	6.2%	+5.35%	$79.0M	/sieb-vs-gsiw →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2026-03-31 • CIK 0001954269

In its most recent audited fiscal period (FY2025, filed 2026-03-31), Garden Stage Limited (Class A) (GSIW) reported GAAP revenue of $7.3M (+33.2% vs. FY2024 revenue of $5.5M , and +416.8% cumulative change since FY2023) , GAAP net income of -$13.8M, operating cash flow of -$4.2M, and free cash flow of -$4.2M (-209.8% YoY). On the balance sheet, GSIW closed FY2025 with $0 in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 2/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2026-03-31	$7.3M	-$13.8M	-$4.2M	-$4.2M	—	—
FY2024 (FY)	2025-03-31	$5.5M	-$4.3M	-$1.1M	-$1.4M	—	—
FY2023 (FY)	2024-03-31	$1.4M	-$4.6M	-$7.1M	-$7.1M	—	—

3. GSIW Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is GSIW stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does GSIW compare to WTF and EVF in the Financials sector?

What are the biggest fundamental strengths and SEC risk factors for GSIW?

Where is GSIW trading relative to its 50-day, 200-day, and 52-week technical levels?

GSIW last traded at $10.04 (+10.09% on volume of 45,633 shares), positioning the stock -19.42% below its 50-day simple moving average ($12.46) and -54.63% below its 200-day simple moving average ($22.13). Across its 52-week range of $8.00 to $42.00, GSIW sits at the 6.0% percentile with a 14-day RSI of 32.4 (NEUTRAL RANGE) and an implied next-earnings move of ±9.8% ($9.06 to $11.02).

Direct Sub-Reports: GSIW RQD Cockpit GSIW 12M Forecast GSIW Earnings & Move GSIW Dividends & DRIP GSIW Insiders & 13F GSIW Whale Options GSIW Profit Sankey GSIW News & Why

ROARABLE RATING BRIEF • RQD 27/100 (E) ✓ STAGE-C NUMBER FIREWALL VERIFIED

GSIW — Garden Stage Limited (Class A): What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:44:13Z

1. Roarable Rating Brief: What This Means to a Prospective Investor

The GSIW carries an RQD Score of 27 with a letter grade of E, labeled "Roarable Strong Sell — Forensic Risk / Avoid." The five pillars are scored as follows:

Fundamental Cash Engine: 8 / 20. ROIC is 0% and FCF yield is -4.33%. For a prospective investor, this means the business is not currently generating a return on capital or positive free cash flow to support its valuation.
Whale 13F Flow: 3 / 20. this pillar reflects institutional accumulation and options positioning. The low score indicates weak institutional support in the available data.
Insider Conviction: 3 / 20. this pillar reflects SEC Form 4 and Congressional PTR cluster flow. The low score indicates limited insider conviction signals.
Macro Regime Fit: 5 / 20. beta is 1.0 and sector sensitivity is weighted here. The score suggests the stock does not offer a favorable macro-regime alignment in the rating model.
Forensic Balance Sheet: 8 / 20. Altman Z is 2.5, Piotroski F is 2/9, and Debt/Equity is 0.5. These forensic readings point to elevated balance-sheet and earnings-quality risk.

12 price against earnings or cash-flow multiples. The 52-week range of $8 - $42 indicates a steep drawdown, and the stock is currently 6.37% lower on the day. The RQD framework classifies the stock as a strong-sell, forensic-risk name, and the scoring suggests weak fundamentals, weak institutional and insider support, and a stressed forensic profile. This is educational context, not personalized advice.

2. Business Model, Unit Margins & SEC Financial Trajectory

Garden Stage Limited (Class A) is a NASDAQ-listed company classified under the Financials sector and the Investment Bankers/Brokers/Service industry..1B.

Revenue rose from $1.4M in FY 2023 to $7.3M in FY 2025, while net income was negative in every reported period, reaching -$13.8M in FY 2025. Per the market data, gross margin, operating margin, and ROIC are each 0%, and net margin is -60%. The Altman Z-Score is 2.5 and the Piotroski F-Score is 2/9. Debt/Equity is 0.5.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case: Revenue grew from $1.4M in FY 2023 to $7.3M in FY 2025, showing top-line expansion. With Fundamental Cash Engine at 8/20 (ROIC —, FCF yield -4.33%) and Institutional Whale Flow at 3/20, sustained execution supports upside toward the top of the $8.00 – $42.00 52-week range.
🐻 Primary Bear Case: Net income was negative in every reported period, reaching -$13.8M in FY 2025, with ROIC at 0% and FCF yield at -4.33%. Investors must weigh current valuation against — operating margins and a 1.00 macro beta if sector demand softens.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

— The Butterfly Supply-Chain Graph lists no upstream or downstream links, no sector correlations, and no proprietary signals for GSIW. Second-order bottleneck analysis cannot be performed from the source material.

Key Question #1: What are GSIW's cash and debt balances, given that these fields are N/A across all reported periods?
Key Question #2: Why is net income negative in every period despite revenue growth from $1.4M to $7.3M, and what drives the FY 2025 loss of -$13.8M?
Key Question #3: What is the company's specific business model, product set, and customer base beyond its sector classification?

GSIW Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Garden Stage Limited (Class A) (GSIW) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to GSIW Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo Finance UK • 20h ago

Solowin Holdings (AXG) Seasonal returns chart

Yahoo Finance UK report covering Garden Stage Limited (Class A) (GSIW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance UK • 23h ago

Bolsas y Mercados Argentinos S.A. (BYMA.BA) Seasonal returns chart

Yahoo Finance UK report covering Garden Stage Limited (Class A) (GSIW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo! Finance Canada • 1d ago

IP Strategy Holdings, Inc. (IPST) Seasonal Returns Chart

Yahoo! Finance Canada report covering Garden Stage Limited (Class A) (GSIW) market action, institutional positioning, and fundamental catalysts.

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🟡 MARKET WIRE https://www.dars.gov.et/ • 1d ago

HBANM Edges Higher to $19.39 as Huntington Preferred Stock Extends Its Range - Positive Gamma

https://www.dars.gov.et/ report covering Garden Stage Limited (Class A) (GSIW) market action, institutional positioning, and fundamental catalysts.

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🟡 MARKET WIRE Yahoo Finance Singapore • 1d ago

AtlasClear Holdings, Inc. (ATCH) Seasonal returns chart - Yahoo Finance

Yahoo Finance Singapore report covering Garden Stage Limited (Class A) (GSIW) market action, institutional positioning, and fundamental catalysts.

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🟡 MARKET WIRE Yahoo Finance • 224d ago

Garden Stage Ltd Regains Compliance with Nasdaq Minimum Bid Price Requirement

HONG KONG, March 23, 2026 (GLOBE NEWSWIRE) -- Garden Stage Limited. (NASDAQ: GSIW) (“Garden Stage” or the “Company”) today announced that it received a notification letter (the “Notice”) from the Listing Qualifications D

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 243d ago

Garden Stage Limited Announces 200 for 1 Share Consolidation of Class A Shares

Hong Kong, March 04, 2026 (GLOBE NEWSWIRE) -- Garden Stage Limited (the “Company” or “Garden Stage”), a Hong Kong-based financial services provider principally engaged in the provision of (i) placing and underwriting ser

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 264d ago

Garden Stage Limited Announces Reclassification of its Ordinary Shares

Hong Kong, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Garden Stage Limited (the “Company” or “Garden Stage”), a Hong Kong-based financial services provider principally engaged in the provision of (i) placing and underwriting serv

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

GSIW Bull vs. Bear Conversation Board — What's Your Call at $10.04?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON GSIW 🐻 33% BEARISH CONVICTION

TA TapeReader_Pro Price Action & Volume Trader 🐂 BULLISH 🎯 Target: $12.04 (+32.0%)

📌 Pinned Debate

Revenue grew from $1.4M in FY 2023 to $7.3M in FY 2025, showing top-line expansion.

Long GSIW at $9.12 targeting $12.04. Revenue grew from $1.4M in FY 2023 to $7.3M in FY 2025, showing top-line expansion.. Institutional whale score is 3/20 and the risk/reward vs. the $8.00 52-week low is skewed heavily in favor of bulls.

ArenaChamp_24 🐂 BULL

@SkepticalCFA Fair point on current EV/EBITDA multiples, but you're ignoring the forward operating leverage in Investment Bankers/Brokers/Service. If gross margin (0.0%) holds, EPS grows into the multiple faster than bears think.

SK SkepticalCFA Fundamental Contrarian 🐻 BEARISH 🎯 Target: $7.84 (-14.0%)

Spot @ $9.12

Net income was negative in every reported period, reaching -$13.8M in FY 2025, with ROIC at 0% and FCF yield at -4.33%.

Fading this rally in GSIW at $9.12. Net income was negative in every reported period, reaching -$13.8M in FY 2025, with ROIC at 0% and FCF yield at -4.33%.. With a beta of 1.0 and the stock sitting at $9.12 (52-wk range $8.00–$42.00), the easy multiple expansion is already priced in.