Magnitude International Ltd Q2 2025 Financial Results and IPO Completion

Magnitude International Ltd filed its Form 6-K on April 30, 2026, reporting unaudited interim financial statements for the six months ended October 31, 2024 and 2025. The Singapore-based mechanical and electrical engineering service provider reported a significant deterioration in performance, with revenue decreasing 4.5% to S$6.95 million for the six months ended October 31, 2025, and a net loss of S$1.51 million compared to a net profit of S$196,748 in the same period last year. The company completed its initial public offering on August 12, 2025, raising US$6.6 million through the issuance of 1.65 million shares at US$4.00 per share, with shares trading on Nasdaq under ticker "MAGH". The loss was attributed to lower project activity, increased administrative expenses (including advisory fees of S$536,379), higher finance costs, and income tax expense. Despite the operational loss, the company's cash position improved to S$2.1 million as of October 31, 2025, primarily due to IPO proceeds.