Singapore Paincare Holdings recorded a net loss of $4 million for the fiscal year ending June 30, 2025, a reversal from its $2 million profit in FY2024.

In the second half of FY2025, the company posted a $4.5 million loss, compared to earnings of $1.1 million in the corresponding period last year.

Full-year revenue declined 3.5% year-on-year to $26 million, primarily driven by reduced contributions from Allied Health Services and general practitioner clinics, partially offset by higher specialist clinic revenue. The disposal of GM Medical (March 1, 2024) and AE Fernvale (September 16, 2024) impacted GP clinic earnings, while Ready Fit Physiotherapy's wind-down affected Allied Health Services performance.

Other income surged 95.7% to $1.1 million, boosted by government grants and chronic care-related payments.

The company recognized $2.66 million in goodwill impairments from PTL Spine & Orthopaedics and AE Medical Sengkang, reflecting these clinics' unprofitability at FY2025's close.

Associate contributions showed a $66,000 loss versus $235,000 profit previously, dragged by Shanghai Gong Pu and Beijing Puxin's underperformance, though partially mitigated by KCS Anaesthesia Services' profits.

Joint venture results swung to a $733,000 loss from $579,000 earnings, primarily due to revaluation losses on the Puxiang investment.

Cash reserves stood at $5.2 million as of June 30.

Singapore Paincare shares traded at 15.7 cents as of market open, down 0.1 cent (0.63%).