$SPHL

SPRINGVIEW HOLDINGS LTD

CIK:0002002236|SEC Filings

Consolidated Statements of Income (Operations) and Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2025

SGD ($)

$ / shares

Dec. 31, 2025

USD ($)

$ / shares

Dec. 31, 2024

SGD ($)

$ / shares

Dec. 31, 2023

SGD ($)

$ / shares

Total revenue

$ 7,808,860

$ 6,072,681

$ 8,811,646

$ 13,353,013

Total cost of revenue

(6,741,162)

(5,242,369)

(7,907,554)

(8,711,448)

Gross profit

1,067,698

830,312

904,092

4,641,565

Selling, general and administrative expenses

(3,549,332)

(2,760,193)

(2,028,293)

(1,720,155)

Total operating expenses

(3,549,332)

(2,760,193)

(2,028,293)

(1,720,155)

Income (Loss) from operations

(2,481,634)

(1,929,881)

(1,124,201)

2,921,410

Other (expenses) income

Interest expenses, net

(95,555)

(74,310)

(108,673)

(78,069)

Other income

104,056

80,921

35,786

24,834

Total other (expense) income, net

8,501

6,611

(72,887)

(53,235)

Income (loss) before income taxes

(2,473,133)

(1,923,270)

(1,197,088)

2,868,175

Income tax (expenses) benefit

120,131

93,422

165,950

(478,009)

Net income (loss)

(2,353,002)

(1,829,848)

(1,031,138)

2,390,166

Other comprehensive income

Foreign currency translation adjustments

17,220

13,391

250,665

Total Comprehensive income (loss)

$ (2,335,782)

$ (1,816,457)

$ (780,473)

$ 2,390,166

Weighted average number of outstanding ordinary shares

Basic (in Shares)

^[1],[2]

11,467,500

11,437,500

20,000,000

Diluted (in Shares)

^[1],[2]

11,467,500

11,437,500

20,000,000

Earnings (Loss) per share

Basic (in Dollars per share and Dollars per share) | (per share)

$ (0.21)

$ (0.16)

$ (0.09)

$ 0.12

Diluted (in Dollars per share and Dollars per share) | (per share)

$ (0.21)

$ (0.16)

$ (0.09)

$ 0.12

Cost of revenue

Total cost of revenue

$ (6,741,162)

$ (5,242,369)

$ (7,907,554)

$ (8,534,597)

Cost of revenue from a related party

Total cost of revenue

(176,851)

Revenue

Total revenue

7,808,860

6,072,681

8,811,646

13,167,319

Revenue from a related party

Total revenue

$ 185,694

[1]	All per share amounts and shares outstanding for all periods have been retroactively adjusted to reflect the 8-for-1 reverse share split for Class A ordinary share of SPRINGVIEW HOLDINGS LTD, which was effective on December 2, 2025.
[2]	The shares and per share information are presented on a retrospective basis to reflect the reorganization.

Consolidated Statements of Cash Flows	12 Months Ended
Consolidated Statements of Cash Flows	Dec. 31, 2025 SGD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 SGD ($)	Dec. 31, 2023 SGD ($)
Cash flows from operating activities
Net income (loss)	$ (2,353,002)	$ (1,829,848)	$ (1,031,138)	$ 2,390,166
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Provision for doubtful accounts	2,851	2,217	30,078	30,916
Depreciation of property and equipment	3,254	2,531	4,314	4,619
Amortization of right-of-use assets	371,499	288,902	225,287	192,021
Gain on early termination of lease			(11,081)
Share-based compensation	1,185,727	922,099
Deferred tax expenses (benefit)	(140,370)	(109,162)	(186,547)	478,009
Changes in operating assets and liabilities
Accounts receivable	42,626	33,149	239,017	(208,457)
Contract assets	575,041	447,190	(138,678)	(4,061,592)
Accounts receivable – a related party	19,901	15,476	125,941	(185,694)
Other assets	(324,974)	(252,721)	161,948	18,670
Accounts payable	(836,501)	(650,518)	315,228	325,961
Other payables and accruals	(275,691)	(214,395)	(95,002)	(72,121)
Contract liabilities	18,153	14,117		(136,464)
Income tax payable				(15,772)
Lease liabilities	(328,506)	(255,468)	(170,637)	(129,648)
Net cash used in operating activities	(2,039,992)	(1,586,431)	(531,270)	(1,369,386)
Cash flows from investing activities
Purchases of property and equipment				(4,879)
Repayment of amount from a related party				1,000,000
Proceeds from repayment of loans from third party	1,300,000	1,010,965
Loans to a third party			(2,621,944)
Net cash provided by (used in) investing activities	1,300,000	1,010,965	(2,621,944)	995,121
Cash flows from financing activities
Proceeds from loans and borrowings				1,050,000
Proceeds from related parties	75,000	58,325	450,368	584,328
Payment for deferred offering costs				(200,526)
Repayment of amount to related parties	(283,192)	(220,229)		(212,051)
Repayment of loans and borrowings	(259,049)	(201,453)	(430,465)	(439,850)
Payments for finance lease liabilities	(50,172)	(39,017)	(60,604)	(58,215)
Issuance of Class A ordinary shares in connection with IPO			5,618,568
Proceeds from private placement	1,925,222	1,497,178
Net cash provided by financing activities	1,407,809	1,094,804	5,577,867	723,686
Effect of foreign exchange on cash	(233,445)	(181,542)	250,665
Net changes in cash	434,372	337,796	2,675,318	349,421
Cash at beginning of the year	3,373,424	2,623,395	698,106	348,685
Cash at end of the year	3,807,796	2,961,191	3,373,424	698,106
Supplemental non-cash in financing activities:
Deferred IPO costs charged to share capital			1,543,632
Offset amount due to a related party				1,296,018
Right-of-use assets, obtained in exchange for lease obligations			345,788
Accrued interest on borrowings from a related party	35,087	27,286
Supplement disclosures of cash flow information:
Income taxes paid	20,241	15,741	20,597	15,773
Interest paid	$ 56,800	$ 44,172	$ 80,176	$ 73,962

Consolidated Balance Sheets

Dec. 31, 2025

SGD ($)

Dec. 31, 2025

USD ($)

Dec. 31, 2024

SGD ($)

Current assets

Cash

$ 3,807,796

$ 2,961,191

$ 3,373,424

Accounts receivable, net

45,477

Contract assets – current

4,287,038

3,333,881

4,618,205

Loan receivable – third party

1,321,944

1,028,030

2,621,944

Other assets – current

379,857

295,402

52,491

Total current assets

9,919,477

7,714,034

10,731,442

Non-current assets

Property and equipment, net

292

228

3,546

Right-of-use assets, net

483,135

375,717

390,680

Contract assets – non-current

89,912

69,921

333,786

Other assets – non-current

69,962

54,407

72,354

Total non-current assets

643,301

500,273

800,366

Total assets

10,562,778

8,214,307

11,531,808

Current liabilities

Accounts payable

833,095

647,869

1,669,596

Contract liabilities

18,153

14,117

Other payables and accruals

495,072

385,000

805,850

Loans and borrowings – current

217,680

169,282

256,729

Operating lease liabilities – current

328,848

255,734

170,776

Finance lease liabilities – current

42,062

32,710

45,032

Total current liabilities

2,939,244

2,285,748

4,002,580

Non-current liabilities

Deferred tax liabilities, net

251,466

195,556

391,836

Loans and borrowings – non-current

359,071

279,237

579,071

Operating lease liabilities – non-current

69,156

53,780

96,921

Finance lease liabilities – non-current

38,415

29,874

80,476

Total non-current liabilities

718,108

558,447

1,148,304

Total liabilities

3,657,352

2,844,195

5,150,884

Shareholders’ equity

Accumulated other comprehensive income

17,220

13,391

250,665

Additional paid-in capital

9,401,440

7,311,282

6,290,712

Accumulated deficit

(2,516,356)

(1,956,883)

(163,354)

Total shareholders’ equity

6,905,426

5,370,112

6,380,924

Total liabilities and shareholders’ equity

10,562,778

8,214,307

11,531,808

Class A Ordinary Shares

Shareholders’ equity

Ordinary shares value

^[1],[2]

1,770

1,322

1,549

Class B Ordinary Shares

Shareholders’ equity

Ordinary shares value

1,352

1,000

1,352

Related Party

Current assets

Accounts receivable – a related party

122,842

95,530

19,901

Current liabilities

Amount due to related parties

$ 1,004,334

$ 781,036

$ 1,054,597

[1]	All per share amounts and shares outstanding for all periods have been retroactively adjusted to reflect the 8-for-1 reverse share split for Class A ordinary share of SPRINGVIEW HOLDINGS LTD, which was effective on December 2, 2025.
[2]	The shares and per share information are presented on a retrospective basis to reflect the reorganization.