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what it is
Armlogi stores, packs, labels, and moves merchandise for retailers across nine U.S. warehouses.
how it gets paid
Last year Armlogi made $190M in revenue. Warehouse management and order fulfillment was the main engine at $76M, or 40% of sales.
why it's growing
Revenue grew 14.0% last year. Revenue was up 96% vs. prior year. Gross margin stayed at -3.2%.
what just happened
Q2 revenue hit $101M, but the company still lost $0.24 a share.
At a glance
n/a balance sheet
18.9% return on capital — nothing to write home about
-$0.37 fy2025 eps est
$190M fy2025 rev est
9.3% operating margin
What they do
Armlogi stores, packs, labels, and moves merchandise for retailers across nine U.S. warehouses.
Nine warehouses and 2,765,667 square feet are the whole trick. Your boxes need space, hands, and trucks, and Armlogi sells all three. Leaving is painful because customs, storage, packing, and freight sit in one chain.
How they make money
$190M
annual revenue · their business grew +14.0% last year
Warehouse management and order fulfillment
$76M
Transportation of merchandise to U.S. warehouses
$48M
Customs brokerage
$22M
Inventory management and sales forecasting
$28M
Other value-added services
$16M
The products that matter
storage and order processing
Warehousing & Fulfillment
$152M · 80% of revenue
this segment generated about $152M of the company's $190M revenue base. it is the business, not a side line.
80% of revenue
port-to-warehouse freight movement
Port Trucking & Dispatch
$38M · 20% of revenue
this segment contributes about $38M. it matters because warehousing without transport is only half a logistics chain.
20% of revenue
warehouse automation effort
Smart Warehousing Platform
launched mar 4, 2026
it launched on mar 4, 2026. the point is simple: a business that just saw costs rise 29.9% needs efficiency gains fast.
cost fix attempt
Key numbers
$190M
annual revenue
That is bigger than the $12M market cap. The business is larger than the stock price.
9.3%
op margin
A negative margin means sales are not yet turning into operating profit.
$94M
long debt
Debt is 89% of capital, so lenders have more claims than holders do.
18.9%
return on capital
This says the business squeezes decent returns out of the money it keeps.
Financial health
n/a
strength
- balance sheet grade n/a
- long-term debt $94M (89% of capital)
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for BTOC right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Q2 revenue hit $101M, but the company still lost $0.24 a share.
Revenue was up 96% vs. prior year. Gross margin stayed at -3.2%, so more sales did not fix the math.
$101M
revenue
$0.24
eps
3.2%
gross margin
the number that mattered
The $101M quarter matters because it was the first proof of scale, but the -$0.24 EPS says scale alone is not fixing losses.
source: company earnings report, 2026
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What could go wrong
the top risk for Armlogi Holding is cost inflation overwhelming a thin-margin logistics model.
high
cost growth stays above sales growth
Costs rose 29.9% while revenue grew 14%. With only 3.2% gross margin, that spread is enough to erase the benefit of growth fast.
This is how you get $190M of revenue and still end up with a $15.3M net loss.
high
debt reduces room to absorb mistakes
Long-term debt is $94M, or 89% of capital. That is a heavy load for a company with losses and thin margins.
If operations wobble again, balance-sheet flexibility is limited.
med
cross-border freight exposure cuts both ways
The business is tied heavily to US-China logistics flows. Port congestion, trade friction, or volume swings can hit both trucking and warehouse utilization.
When your core services already earn little per dollar of revenue, disruption hurts faster.
med
automation rollout does not fix the economics
The smart warehousing platform launched mar 4, 2026. A launch is not the same thing as savings showing up in reported margins.
If the cost line does not improve over the next few quarters, the "efficiency" story is just a press line with software attached.
A business with 3.2% gross margin, $94M of debt, and a recent 29.9% cost surge does not have much room for another bad quarter.
source: institutional data · regulatory filings · risk analysis
Pay attention to
results
q3 fy2026 revenue versus cost growth
Q2 revenue was $51.5M and grew only 0.8%. You need the next quarter to show that growth is not stalling while costs keep climbing.
margin
gross margin above 3.2%
This is the clearest stress gauge on the page. If gross margin cannot move up from 3.2%, the operating model is still too fragile.
execution
smart warehousing savings that show up in filings
The platform launched on mar 4, 2026. Watch reported costs, not the announcement, to see if it is doing anything useful.
calendar
management communication after the annual meeting
The dec 4, 2025 annual meeting was a checkpoint. What matters next is whether management starts talking less about growth and more about getting paid for it.
Analyst rankings
chart momentum
average
momentum rank 3 — the stock is moving with the broader market, no unusual signal.
source: institutional data
Institutional activity
institutional ownership data for BTOC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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