**STAK Inc. (Cayman Islands incorporated, operating primarily in the PRC) faced a severe financial reversal in FY2025 (YE June 30), following its February 2025 IPO.
Financial Performance: Revenue grew 31.69% to \(24.9M, but the company swung from \)2.44M Net Income in FY2024 to a $5.7M Net Loss in FY2025. This decline was driven by a massive surge in G&A expenses (\(6.8M, up 1149%), heavily influenced by **\)3.9M in unvested share-based compensation (RSUs)** recognized in G&A. The company recorded an Operating Loss of \(3.1M, compounded by \)2.86M in non-recurring losses from asset sales. C
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