Quick Verdict
YYForce Inc.’s first-half 2026 Earnings were announced as YYForce reported first-half 2026 revenue of $32.66 million, up 26.8% year over year. In this article, we break down the YYForce Inc. First-Half 2026 Earnings details. Basic and diluted loss per share was $13.62, while net loss narrowed to $7.06 million. Gross margin fell to 10.1% because of higher labor costs. No immediate stock reaction was provided; after-hours movement is unavailable.
About YYForce Inc.
YYForce Inc. (Nasdaq: YFOR), formerly YY Group Holding Limited (Nasdaq: YYGH), is an AI-enabled workforce management and integrated facility management (IFM) company headquartered in Singapore. Its operations extend across Asia and include manpower outsourcing, on-demand staffing, workforce-planning software, facility management, security, cleaning, and related technology-enabled services. The company serves sectors such as hospitality, food and beverage, retail, transportation, banking, and mixed-use property management.
YYForce operates its workforce-management platform through YY Circle and its IFM activities through the 24iFM platform and related subsidiaries. The company is also developing a longer-term strategy involving artificial intelligence, smart facilities, automation, humanoid robots, specialized service robots, and Robotics-as-a-Service. These emerging technology initiatives did not contribute materially to first-half 2026 revenue.
YYForce was listed on the Nasdaq Capital Market under YFOR following its former YYGH identity. Market-capitalization estimates varied by data provider around the reporting period, with Morningstar and Yahoo Finance indicating approximately $11.5 million. Publicly available materials reviewed for this article did not clearly identify the company’s founding year, employee count, P/E ratio, or dividend yield.
Top Financial Highlights
- Revenue increased 26.8% year over year to $32.66 million, compared with $25.75 million in the first half of 2025.
- Manpower-outsourcing revenue increased 62.4% to $15.55 million, from $9.58 million.
- IFM revenue increased 11.1% to $16.06 million, from $14.46 million.
- Gross profit declined to $3.30 million, compared with $4.27 million in the prior-year period.
- Gross margin narrowed to 10.1%, from 16.6%, primarily because hourly labor costs increased faster than customer billing rates.
- Operating loss narrowed 32.2% to $5.21 million, from $7.68 million.
- Operating loss as a percentage of revenue improved to 15.9%, from 29.8%.
- Net loss narrowed 13.8% to $7.06 million, compared with $8.20 million.
- Basic and diluted loss per share was $13.62, compared with $311.00 in the first half of 2025. The figures were retrospectively adjusted for two reverse share splits completed in March and June 2026.
- Non-IFRS operating loss was approximately $2.74 million.
- Non-IFRS loss was approximately $3.29 million.
- Net cash used in operating activities increased substantially to $10.99 million, from $0.63 million.
- Cash and cash equivalents totaled approximately $3.08 million as of June 30, 2026.
- Financing activities generated approximately $16.29 million, including $18.55 million from the company’s at-the-market equity offering.
- Working capital improved to approximately $11.9 million, compared with a $1.7 million deficit at year-end 2025.
- Total liabilities decreased 39% to $12.66 million, from $20.73 million at December 31, 2025.
Beat or Miss?
YYForce’s release did not provide analyst-consensus estimates for revenue, earnings per share, net income, or operating profit. Therefore, a formal beat-or-miss comparison cannot be established from the available announcement.
| Metric | Reported | Difference/Analysis |
| Revenue | $32.66 million | Up 26.8% year over year |
| Basic and diluted EPS | Loss of $13.62 | Loss per share improved from $311.00 in H1 2025 after retrospective share-split adjustments |
| Net income | Loss of $7.06 million | Net loss narrowed 13.8% year over year |
| Gross profit | $3.30 million | Down from $4.27 million |
| Gross margin | 10.10% | Down from 16.6% because of labor-cost pressure |
| Operating loss | $5.21 million | Improved from $7.68 million |
| Operating cash flow | Negative $10.99 million | Cash use increased from negative $0.63 million |
| FY2026 guidance | Withdrawn | Investors should no longer rely on the earlier projections |
The central earnings signal was mixed: revenue growth and a narrower net loss were offset by lower gross profit, weaker margins, higher operating cash consumption, and the withdrawal of full-year guidance.
What Leadership Is Saying
“We delivered year-over-year revenue growth of 26.8% in the first half of 2026, led by a 62.4% increase in manpower outsourcing revenue and continued expansion of our IFM operations.” — Mike Fu, CEO, YYForce.
“Hourly wages for casual workers rose faster than our billing rates. As a result, our gross profit margin narrowed to 10.1% from 16.6%.” — Jason Phua, CFO, YYForce.
Historical Performance
The comparison below uses the six-month periods ended June 30, 2026 and June 30, 2025.
| Category | H1 2026 | H1 2025 | Change |
| Revenue | $32.66 million | $25.75 million | 26.80% |
| Gross profit | $3.30 million | $4.27 million | −22.7% |
| Gross margin | 10.10% | 16.60% | −6.5 percentage points |
| Operating expenses* | $9.21 million | $12.76 million | −27.8% |
| Operating loss | $5.21 million | $7.68 million | −32.2% |
| Net loss | $7.06 million | $8.20 million | −13.8% |
| Operating cash flow | Negative $10.99 million | Negative $0.63 million | Higher cash usage |
| Loss per share | $13.62 | $311.00 | Improved; retrospectively adjusted |
*Operating expenses include selling and marketing, general and administrative expenses, impairment loss, other expenses, and the change in fair value of investment properties. Calculated from the company’s reported figures.
Segment Performance
| Business segment | H1 2026 revenue | H1 2025 revenue | Change |
| Manpower outsourcing | $15.55 million | $9.58 million | 62.40% |
| Integrated facility management | $16.06 million | $14.46 million | 11.10% |
| Total revenue | $32.66 million | $25.75 million | 26.80% |
How the Market Reacted?
The September 24 announcement did not report an immediate share-price reaction, and the available release does not provide after-hours trading data. Market sentiment is therefore best characterized as mixed. Revenue growth was strong, particularly in manpower outsourcing, and the net loss narrowed;
However, the fall in gross margin, increased operating cash burn, limited cash balance, and withdrawal of fiscal 2026 guidance are material risks. Independent coverage also highlighted the margin pressure and the company’s decision to withdraw its outlook.
