Azio AI Holdings, Inc.
AZIO Consumer Cyclical Auto Manufacturers
Azio AI Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.9 million, up 217.6% from fiscal 2024. In the quarter to June 2026, revenue grew 154.3%, EPS grew 77.1%, free cash flow fell 634.3% and total debt rose 72.7%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Azio AI Holdings, Inc. (AZIO) Beneish M-score
Azio AI Holdings, Inc.'s Beneish M-score for fiscal 2025 cannot be worked out: gross margin index cannot be worked out.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2024 | −1.14 | 4.04 |
| FY2023 | −5.17 | 2.16 |
| FY2022 | −7.33 | (32.61) |
| FY2021 | 25.28 | 32.71 |
| FY2020 | −7.43 | (4.74) |
| FY2019 | −2.69 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.19 | — | 0.17 | |
| Gross margin index | — | — | n/a | — |
| Asset quality index | 0.34 | — | 0.14 | |
| Sales growth index | 3.18 | — | 2.83 | |
| Depreciation index | 0.25 | — | 0.03 | |
| SG&A index | 0.43 | — | −0.07 | |
| Total accruals to total assets | (7.19) | — | −33.62 | |
| Leverage index | 7.92 | — | −2.59 | |
| Beneish M-score | n/a — gross margin index cannot be worked out | — | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| GGR Gogoro Inc. compare | −3.6× |
| LOBO Lobo EV Technologies Ltd compare | −2.6× |
| PEVM Phoenix Motor Inc. compare | 6.4× |
| AZIO Azio AI Holdings, Inc. | — |
| FABC Fabric.AI, Inc. compare | — |
| SVUHF SRIVARU Holding Limited compare | — |
| FSRNQ Fisker Inc. compare | — |
| ARVLF Arrival compare | — |
| WKHS Workhorse Group, Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI