MACAU, April 29, 2026 /PRNewswire/ — Epsium Enterprise Limited (NASDAQ:EPSM) (the “Company” or “Epsium”), an importer and wholesaler of premium alcoholic beverages in Macau, today announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission (the “SEC”).
The Annual Report, which includes the Company’s audited consolidated financial statements prepared in accordance with U.S. GAAP, is available on the SEC’s website at www.sec.gov.
Fiscal Year 2025 Overview
For the fiscal year ended December 31, 2025, Epsium reported net revenue of approximately $5.1 million, compared to $12.5 million in the prior year. The decline primarily reflected softer demand in Macau’s wholesale market for lower-priced alcoholic beverages following a period of post-pandemic normalization, as well as increased price competition and more cautious consumer spending.
Gross profit was $753,769 for the year, compared to $1.6 million in 2024. Gross margin improved to 14.7% from 12.8% in the prior year, reflecting the initial impact of the Company’s ongoing product mix adjustment toward higher-margin premium products distributed through casino and hotel channels.
Total operating expenses were approximately $2.2 million, compared to $1.2 million in 2024. The increase was primarily driven by higher general and administrative expenses associated with operating as a public company following the Company’s Nasdaq listing in March 2025, as well as an inventory impairment charge recorded during the year.
Net loss for fiscal year 2025 was approximately $(1.5) million, compared to net income of $284,694 in 2024.
Balance Sheet and Liquidity
As of December 31, 2025, the Company reported cash and cash equivalents of approximately $2.0 million, compared to $0.1 million at the end of 2024. The increase was primarily …