Revenue rose 26.8%, but YYForce withdrew its 2026 outlook

YYForce Issues First Half 2026 Financial Results Highlighting 26.8% Revenue Growth to US$32.7 Million

YYForce expects to issue an updated outlook with its full-year 2026 results; its earlier projections no longer reflect current expectations.

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YYForce (YFOR) reported first-half 2026 revenue of US$32.66 million for the six months ended June 30, 2026. Revenue rose 26.8% from US$25.75 million a year earlier. Manpower outsourcing revenue increased 62.4% to US$15.55 million, while integrated facility management revenue increased 11.1% to US$16.06 million.

Gross margin fell to 10.1% from 16.6% as labor costs rose. Operating loss narrowed to US$5.21 million from US$7.68 million, largely because a US$4.06 million impairment recorded in the prior-year period did not recur. Net loss narrowed 13.8% to US$7.06 million, but cash used in operations rose to US$10.99 million from US$0.63 million. Working capital was US$11.9 million at June 30, compared with a US$1.7 million deficit at year-end 2025. YYForce withdrew its fiscal 2026 outlook because of first-half labor cost pressure.

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Positive

• Revenue rose 26.8% year over year to US$32.66 million.
• Manpower outsourcing revenue rose 62.4% to US$15.55 million.
• Net loss narrowed 13.8% to US$7.06 million.
• Working capital reached US$11.9 million from a year-end deficit.

Negative

• Gross margin fell to 10.1% from 16.6%.
• Operating cash use rose to US$10.99 million from US$0.63 million.

YYForce reported US$18.55 million
of first-half proceeds from issuing Class A shares through an at-the-market program, which allows gradual sales into the market; issuing new shares increases the share count and reduces existing holders’ percentage ownership absent offsetting changes.

The Sep 15 balance-sheet update cited US$38.0 million in estimated June 30 assets; this report adds unaudited first-half earnings and further liability detail to that same-period snapshot.

Revenue
US$32.66 million (+26.8% year over year)
First half 2026
Manpower outsourcing revenue
US$15.55 million (+62.4% year over year)
First half 2026
IFM revenue
US$16.06 million (+11.1% year over year)
First half 2026
Gross profit margin
10.1% (vs. 16.6%)
First half 2026 vs. prior-year period
Net loss
US$7.06 million (vs. US$8.20 million; narrowed 13.8%)
First half 2026 vs. prior-year period
Net cash used in operating activities
US$10.99 million (vs. US$0.63 million)
First half 2026 vs. prior-year period
At-the-market offering proceeds
US$18.55 million
First half 2026
FY2026 outlook
Withdrawn
Previously issued March 12, 2026; updated outlook expected with full-year results

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

at-the-market equity offeringfinancial
“US$18.55 million from the issuance of Class A ordinary shares in connection”
An at-the-market equity offering is a way for a public company to raise cash by selling newly issued shares directly into the open market at current market prices over time through a broker. Think of it as gradually selling items on an online marketplace at whatever buyers are paying now rather than holding a single big sale; it gives the company flexible access to funds but can lower each existing owner’s share of the company and put gentle downward pressure on the stock price if done in large amounts.
convertible notesfinancial
“First-half 2026 results also included a US$2.62 million net loss related to”
Convertible notes are a type of short-term loan that a company receives from investors, which can later be turned into company shares instead of being paid back in cash. They matter to investors because they offer a way to support a company early on while giving the potential to own a stake in its success if the company grows and later raises more funding.
non-ifrsfinancial
“Non-IFRS operating loss was approximately US$2.74 million”
Non-IFRS refers to financial measures that companies report outside the standard accounting rules set by the International Financial Reporting Standards; these figures exclude or adjust certain items such as one-time costs, stock-based pay, or restructuring charges. Investors care because non-IFRS numbers try to show the business’s underlying performance — like a chef presenting a dish with optional toppings removed to highlight the core flavor — but they can be shaped to look more favorable, so compare them with the official IFRS statements.
fvtplfinancial
“Net loss on convertible notes designated at FVTPL”
Fair value through profit or loss (FVTPL) is an accounting classification for financial assets or liabilities that are measured at their current market value, with any gains or losses recorded immediately in the company’s income statement. Investors care because this makes a firm’s reported profit more sensitive to market swings—similar to re-pricing items in a garage sale every day and counting the daily differences as your income—so it can increase volatility in reported earnings and affect valuation assessments.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Manpower Outsourcing Revenue Increased 62.4%
to US$15.6 Million
; Integrated Facility Management Revenue Increased 11.1%
to US$16.1 Million

Net Loss Narrowed 13.8%
Year Over Year

Working Capital Improved to US$11.9 Million
from a Deficit of US$1.7 Million
at Year-End 2025; Total Liabilities Reduced 39%

SINGAPORE, Sept. 24, 2026 /PRNewswire/ — YYForce Inc. (Nasdaq: YFOR) (“YYForce” or the “Company,” formerly YY Group Holding Limited (Nasdaq: YYGH)), an AI-enabled workforce management platform and integrated facility management (IFM) provider operating across Asia and beyond, today announced its unaudited financial results for the six months ended June 30, 2026.

YYForce reported first-half 2026 revenue of approximatelyUS$32.7 million
, an increase of 26.8%
fromUS$25.8 million
for the corresponding period in 2025. The Company views the continued expansion of its workforce and IFM businesses as the operating foundation for its “YYForce 2030 Vision,” a long-term strategy to build an integrated workforce ecosystem connecting human workers, artificial intelligence (“AI”), humanoid robots and specialized service robotics.

• Revenue increased 26.8%
  year over year to US$32.66 million
  from US$25.75 million
  .
• Manpower outsourcing revenue increased 62.4%
  year over year to US$15.55 million
  .
• IFM revenue increased 11.1%
  year over year to US$16.06 million
  .
• Gross profit wasUS$3.30 million
  and gross profit margin was 10.1%
  , compared withUS$4.27 million
  and 16.6%
  , respectively, in the prior-year period, with the decrease primarily attributable to higher labor costs.
• Operating loss narrowed 32.2%
  year over year to US$5.21 million
  from US$7.68 million
  , primarily reflecting the absence of a US$4.06 million
  impairment loss on intangible asset recognized in the prior-year period.
• Operating loss as a percentage of revenue improved to 15.9%
  from 29.8%
  in the prior-year period.
• Net loss narrowed 13.8%
  year over year toUS$7.06 million
  fromUS$8.20 million
  .
• Non-IFRS operating loss was approximately US$2.74 million
  and non-IFRS loss was approximately US$3.29 million
  .
• Cash was approximately US$3.08 million
  as of June 30, 2026.
• Total equity increased to approximately US$25.36 million
  from US$13.61 million
  as of December 31, 2025, primarily reflecting US$18.55 million
  in proceeds from the Company’s At-The-Market equity offering.
• Total liabilities decreased to approximately US$12.66 million
  from US$20.73 million
  as of December 31, 2025, primarily reflecting the settlement of trade and other payables and the reduction of warrant liabilities.

First Half 2026Operational Highlights:

Mike Fu, CEO of YYForce, commented: “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. Beyond scaling our existing service businesses, we are laying the foundation for building a future workforce environment in which people, artificial intelligence, smart facilities, automation and robotics can increasingly work together. We are piloting service robots and plan to deploy our first agentic AI workflows and launch an AI training data lab — early steps toward operations where every task is carried out by the person or technology best suited to perform it. Meanwhile, our growing workforce and IFM operations provide the customer relationships, workforce infrastructure, facilities and real operating environments we need to validate and commercialize these technologies. As we move toward 2030, we expect YYForce to evolve from a labor-intensive service provider toward an integrated workforce service provider ready for the future, focusing on margin improvement, operating efficiency and disciplined capital allocation to create value for our stakeholders.”

Jason Phua, CFO of YYForce, added, “This period’s revenue growth came with margin pressure. 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%
. We are addressing this directly: repricing contracts as they come up for renewal, renegotiating or exiting engagements that no longer cover their cost, tightening scheduling to reduce unbilled hours, and evaluating technology-enabled, digital and automation solutions to improve productivity. We also improved our capital structure and working capital position, ending the half with working capital of US$11.9 million
compared with a deficit at the end of 2025, and reducing total liabilities by 39%
. Restoring gross profit margin is our priority for the second half of 2026, and we will report our progress with our full-year results.”

First Half 2026 Financial Results

Total Revenue was US$32.7 million
in the first half of 2026, up 26.8%
from US$25.8 million
in the same period of 2025.

• Revenue from manpower outsourcing increased 62.4%
  to US$15.55 million
  from US$9.58 million
  in the same period of 2025. The increase was primarily attributable to stronger customer demand in Singapore
  and Malaysia
  and contributions from our Hong Kong
  and Thailand
  subsidiaries.

• Revenue from IFM increased 11.1%
  to US$16.06 million
  from US$14.46 million
  in the same period of 2025. Growth was supported by new contract wins, renewals of existing projects and full-period contributions from subsidiaries acquired in 2025, including Property Facility Services Pte. Ltd. and Uniforce Security Services Pte. Ltd.

Gross profit was approximately US$3.30 million
, compared with US$4.27 million
for the first half of 2025. Gross profit margin was approximately 10.1%
, compared with 16.6%
in the prior-year period. The decrease was principally attributable to higher labor costs across the Company’s IFM and manpower outsourcing businesses, including higher hourly wage rates for casual workers.

Operating loss decreased 32.2%
to approximately US$5.21 million
, compared with US$7.68 million
in the corresponding period in 2025, primarily reflecting the absence of the US$4.06 million
impairment loss on intangible asset recognized in the first half of 2025. Operating loss as a percentage of revenue improved to approximately 15.9%
, compared with 29.8%
for the corresponding period in 2025.

Net loss decreased 13.8%
to approximately US$7.06 million
, compared with US$8.20 million
in the prior-year period. Basic and diluted loss per ordinary share was US$13.62
, compared with US$311.00
in the first half of 2025. All share and per-share amounts have been retroactively adjusted to reflect the 50-for-1 and 30-for-1 reverse share splits effected on March 23, 2026 and June 23, 2026, respectively. First-half 2026 results also included a US$2.62
million net loss related to convertible notes and a US$1.73
million net gain related to warrant liabilities.

Net cash used in operating activitieswas approximatelyUS$10.99 million
for the first half of 2026, compared withUS$0.63 million
in the prior-year period, primarily reflecting the operating loss and the settlement of trade and other payables.

During the first half of 2026, net cash provided by financing activities was approximately US$16.29 million
. Financing inflows included approximately US$18.55 million
from the issuance of Class A ordinary shares in connection with the Company’s At-The-Market equity offering and proceeds from other financing activities.

YYForce intends to maintain a disciplined approach to capital allocation as it balances working-capital requirements, existing operations and investments supporting future growth.

YYForce 2030 Vision and Capital Allocation Strategy

On September 22, 2026, YYForce announced its 2030 Vision, its long-term roadmap for building a Future Workforce Solutions model integrating human workforce capabilities, AI-enabled workforce management, smart facility management technologies, automation and robotics. The plan builds on the Company’s existing businesses: YY Circle and Yolara AI applications for on-demand staffing and workforce solutions, humanoid and specialized service robotics offered through leasing and Robotics-as-a-Service (“RaaS”) arrangements, and smart facility management solutions through its 24iFM platform, IoT devices, sensors, smart cameras and automation technologies. Yolara AI is intended to support deployment planning, workflow integration, human-team coordination and ongoing operational support across these solutions. These AI, automation and robotics initiatives did not contribute materially to revenue during the six months ended June 30, 2026.

YYForce’s first capital allocation priority is maintaining sufficient liquidity for its existing operations, working capital needs and contractual obligations. Subject to these requirements, the Company may evaluate investments across workforce and smart facility management technology, software development, operational automation, commercial robotics, data infrastructure, geographic expansion, strategic partnerships and acquisitions. The Company expects to use partnerships, leasing arrangements and customer pilot programs to limit upfront capital commitments, and will evaluate each investment based on customer demand, technology readiness and expected returns.

In light of labor cost pressures in the first half of 2026, the Company is withdrawing the fiscal year 2026 outlook it issued on March 12, 2026. The Company expects to provide an updated outlook with its full-year 2026 results. Investors should no longer rely on the previously announced projections as representing the Company’s current expectations.

About YYForce Inc.

YYForce Inc. (Nasdaq: YFOR) is an AI-enabled workforce management platform and IFM provider, headquartered in Singapore and operating across Asia and beyond. The Company’s intelligent workforce solutions platform, YY Circle, helps clients across hospitality, food and beverage, retail, and other service sectors predict, plan, and optimize workforce deployment. In YYForce’s IFM business, its 24iFM software platform and comprehensive IFM subsidiary portfolio support clients across hospitality, transportation, banking, retail, and mixed-use facilities.

As both business lines scale, the Company is systematically embedding AI and automation capabilities – progressing from intelligent decision support toward increasingly autonomous workforce management – to improve service quality, reduce deployment costs, and drive long-term margin expansion. Listed on the Nasdaq Capital Market, YYForce is committed to infrastructure innovation, measurable client outcomes, and long-term value creation.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, among other things, statements regarding YYForce’s 2030 Future Workforce Vision; future operating and financial performance; margin improvement; operating efficiency; cash generation; technology development; artificial intelligence; digital platforms; smart facility management; automation and robotics; potential humanoid-robot applications; geographic expansion; acquisitions; strategic partnerships; capital allocation; recurring-revenue opportunities; and future commercialization of new products and services.The Company bases these forward-looking statements on its expectations and projections about future events, which the Company derives from the information currently available to it. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. Forward-looking statements involve inherent risks and uncertainties, and the forward-looking events discussed in this press release may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about the Company and a number of factors. These factors include, but are not limited to, the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations, including the introduction of new products and services, expected changes in the Company’s revenues, costs and expenditures, anticipated customer growth, and demand for and market acceptance of the Company’s products and services; and industry, market and regulatory conditions, including competition, government policies and regulations affecting the Company’s industry, and other factors that may affect the Company’s financial condition, liquidity and results of operations. For a more detailed discussion of risk factors, please refer to the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Company’s most recent annual report on Form 20-F, as amended.

The Company uses non-IFRS measures such as non-IFRS net loss/profit in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that non-IFRS financial measures help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that the Company includes in its results for the period. The Company believes that non-IFRS financial measures provide useful information about its results of operations, enhance the overall understanding of its past performance and future prospects, and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making. Non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or construed as an alternative to IFRS financial measures or any other measure of performance or as an indicator of its operating performance.

The Company’s non-IFRS measures exclude consultancy fees, convertible notes related expenses, one-time accounting adjustments, and changes in the fair value of convertible notes and warrant liabilities. The complete reconciliation is presented below. Investors are encouraged to review the reconciliation together with the Company’s IFRS financial statements and not rely on any single financial measure. Non-IFRS financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. 

For more information on the Company’s non-IFRS financial measures, please see the section titled “Unaudited Reconciliation of IFRS and non-IFRS financial measures.” 

Jason Zhi Yong Phua, Chief Financial Officer
YYForce Inc.
enquiries@yyforce.ai

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AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Why did YYForce’s operating loss narrow in the first half of 2026?

YYForce’s operating loss narrowed to US$5.21 million from US$7.68 million, primarily because a US$4.06 million intangible-asset impairment recorded in the first half of 2025 did not recur.

What happens to YYForce’s previous fiscal 2026 outlook?

YYForce withdrew the fiscal 2026 outlook issued on March 12, 2026, citing first-half labor cost pressure. The earlier projections no longer represent the company’s current expectations, and YYForce expects to provide an updated outlook with its full-year 2026 results.

Did YYForce’s AI and robotics initiatives add materially to first-half 2026 revenue?

No. YYForce’s AI, automation and robotics initiatives did not contribute materially to revenue during the six months ended June 30, 2026.