DISA Limited 1H FY2026: revenue slumps 83% on semiconductor weakness, loss narrows as RA JV lifts earnings
Summary:
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Group revenue fell 82.8% to S$0.71m in 1H FY2026, driven by a sharp drop in semiconductor device sales amid U.S. tariffs and China-focused sourcing, partly offset by higher AVAT rental income of S$0.10m.
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Net loss narrowed 15.9% to S$1.15m, supported by a S$0.44m profit contribution from newly acquired 50%-owned joint venture Rheumatology Associates Pte. Ltd., while basic loss per share stayed at 0.01 cent.
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Total assets more than doubled to S$7.63m as at 31 Dec 2025, mainly from the S$5.50m investment in RA and its profit share, while total liabilities rose to S$3.77m on S$2.50m deferred purchase consideration and higher accrued salaries.
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The Group moved into a net current liabilities position of S$2.25m, but the board notes around 90% of current liabilities are extendable or non-cash accruals and expects to meet short-term obligations while managing working capital.
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Healthcare expansion continues with AVAT pilots at a national public eye centre, MIDAS AI cataract device heading for HSA Class B submission in 2H FY2026, and plans for a heartland osteoarthritis clinic, alongside ongoing SSP-based 3S engagement with a major U.S. retailer.