Aureus Greenway Holdings Inc
PUSA, AGH · Services-Membership Sports & Recreation Clubs · 21.6M shares · +0%/yr ↓ buyback · EDGAR filings ↗
Grade
D45Recently-IPO'd two-course Florida golf operator that is cash-rich from the offering but deeply unprofitable at the operating level.
Strengths
- Large cash cushion ($28.7M) and ~37 quarters of runway (91st pct); current ratio 22.5 (97th pct)
- Low leverage and revenue base from two owned courses
Risks
- Net margin -124% and operating margin -149% (both ~18th pct); negative ROE/ROA
- Negative FCF (-$3.1M) with renovation disruptions pressuring revenue
- Sub-scale, weather/seasonality-dependent single-region model that does not yet work
Notable findings
- No interest coverageInterest coverage -981.12 (cannot cover interest)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -124.0%)
- Cash burnNegative free cash flow (-3.1M)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-148.6%
Net margin
-124.0%
Return on equity
-11.2%
Return on assets
-10.6%
Revenue growth (QoQ)
110.8%
Interest coverage
-981.1×
Current ratio
22.5×
Free cash flow
-$3M
EBITDA
-$4M
Tangible book value
$33M
Cash & investments
$29M
Cash runway
37q
Stock comp / revenue
63.8%
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-18 | Reg FDOtherExhibits | filing ↗ |
| 2026-03-23 | Material agreement3.02Exec/director changeReg FDExhibits | filing ↗ |
| 2026-03-11 | Material agreement3.02Reg FDExhibits | filing ↗ |
| 2026-03-09 | Material agreement3.02Exhibits | filing ↗ |
| 2026-02-03 | Exec/director changeExhibits | filing ↗ |
| 2025-09-24 | Exec/director changeExhibits | filing ↗ |
| 2025-09-12 | Exec/director changeExhibits | filing ↗ |
| 2025-08-07 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-18 | 2026-05-18 | 0001493152-26-024234 ↗ |
| 10-Q | 2026-05-12 | 2026-03-31 | 0001493152-26-022421 ↗ |
| 10-K | 2026-03-31 | 2025-12-31 | 0001493152-26-014320 ↗ |
| 8-K | 2026-03-23 | 2026-03-20 | 0001493152-26-012209 ↗ |
| 8-K | 2026-03-11 | 2026-03-10 | 0001493152-26-009672 ↗ |
| 8-K | 2026-03-09 | 2026-03-06 | 0001493152-26-009265 ↗ |
| 8-K | 2026-02-03 | 2026-01-29 | 0001493152-26-004848 ↗ |
| 10-Q | 2025-11-14 | 2025-09-30 | 0001493152-25-022592 ↗ |
| 8-K | 2025-09-24 | 2025-09-24 | 0001493152-25-014754 ↗ |
| 8-K | 2025-09-12 | 2025-09-12 | 0001493152-25-013129 ↗ |
| 10-Q | 2025-08-14 | 2025-06-30 | 0001493152-25-011966 ↗ |
| 8-K | 2025-08-07 | 2025-08-06 | 0001493152-25-011681 ↗ |