Visionary Holdings (NASDAQ:GV) shares are under pressure after the company’s 2025 annual report revealed a significant revenue contraction and mounting liquidity concerns.
The Toronto-headquartered firm, which is transitioning from its legacy education and real estate roots toward high-tech health management and anti-aging, reported total revenue of $5.04 million for the fiscal year—a 46.2% decrease year-over-year.
The decline was primarily attributed to a sharp contraction in real estate leasing and a shifting regulatory landscape for its education services.
Despite the top-line drop, management highlighted that its emerging life sciences and health-related businesses contributed $1.06 million, or roughly 21.1% of total revenue, signaling an early-stage validation of its strategic pivot.
The financial picture remains strained, with Visionary reporting a net loss of $15.75 million.
This loss includes $4.70 million in asset impairment charges and one-time costs related to its business transformation.
Most critically, the company disclosed a negative working capital of $54.50 million and ongoing liquidity pressures, leading to negotiations with creditors and efforts to secure new equity financing.
To stabilize operations, Visionary has overhauled its leadership and board, appointing Xiyong Hou as CEO and Jun Huang as Co-CEO.
The company is doubling down on "cellular rejuvenation" and medical aesthetics, recently launching a stem-cell-based anti-aging line in Asia and establishing a new commercial hub in Nanjing to accelerate revenue generation.