Recent developments include multiple share consolidations, public offerings raising $5 million, and ongoing corporate governance actions.

• Fitness Champs Holdings Limited announced a 30:1 share consolidation effective May 4, 2026 [N1][S2].
• The company closed a $5 million public offering in April 2026 to raise capital for growth [N2][N3].
• Multiple extraordinary general meetings were held in early 2026 to approve share consolidations and corporate actions [N5][N6].
• The company reported unaudited financial results for the first six months of fiscal year 2025 in December 2025 [N7].
• Fitness Champs Holdings Limited received a Nasdaq notification letter regarding minimum price deficiency in November 2025 [N8].

The company’s leadership in Singapore’s government swimming education program and its expansion into new markets such as Dubai demonstrate strategic growth initiatives. Its diversified revenue base across public contracts, private lessons, aquatic sports, and merchandise provides multiple income streams. Recent successful public offerings have strengthened its capital base, supporting operational and geographic expansion.

The company reported a net loss in 2025 and experienced a slight decline in revenue due to lower enrollment. Increased costs, particularly coaches' fees, have pressured margins. The company’s controlled company status may limit certain corporate governance protections for shareholders. Market expansion efforts outside Singapore carry execution risks. The company’s reliance on a network of coaches may pose operational risks if key personnel depart.

Fitness Champs benefits from its established position as one of the largest swimming education providers in Singapore, with a significant government contract under the SwimSafer program, serving about 30% of participating students. Its diversified revenue streams across public and private sectors, including merchandise sales, and its expanding geographic footprint into Dubai contribute to its competitive positioning. The company's controlled ownership structure provides stable leadership and strategic direction.

• Financial Performance Risk: The company reported a net loss of SGD 1.06 million in 2025 with negative earnings per share, reflecting challenges in profitability and cost management.
• Customer Enrollment Risk: Lower enrollment levels in 2025 contributed to reduced revenue, indicating sensitivity to student participation rates.
• Cost Pressure Risk: Increased coaches' fees and certification costs have raised the cost of revenue, impacting gross margins.
• Governance Risk: As a controlled company, the firm may not comply with all Nasdaq corporate governance standards, potentially reducing shareholder protections.
• Geographic Expansion Risk: Expansion into new markets such as Dubai involves execution and market acceptance risks.
• Operational Risk: Dependence on a network of coaches for service delivery may pose risks if key coaches leave or if there are difficulties in maintaining quality and availability.

• Fitness Champs Holdings Ltd is a Cayman Islands holding company with principal subsidiaries incorporated in Singapore, including Fitness Champs Pte. Ltd. and Fitness Champs Aquatics Pte. Ltd.
• Fitness Champs operates school-based swimming lessons primarily through government contracts under Singapore's SwimSafer program, serving approximately 30% of participating students in 2023.
• Fitness Champs Aquatics provides private swimming lessons and aquatic sports lessons to a broad demographic including children, youths, and adults.
• The company also sells branded merchandise such as swimming goggles, swim caps, swimsuits, and flotation devices.
• The company completed an initial public offering on September 5, 2025.
• The company has undertaken multiple share consolidations and reverse splits in 2026, including a 30:1 reverse share split effective May 4, 2026.
• Revenue for the year ended December 31, 2025 was approximately SGD 4.15 million (USD 3.23 million), a slight decrease from prior years, with about 40% from public sector (school programs) and 60% from private sector (private lessons, aquatic sports, merchandise).
• Cost of revenue increased in 2025 mainly due to higher coaches' fees despite lower enrollment.
• Net loss for the year ended December 31, 2025 was approximately SGD 1.06 million (USD 0.83 million).
• Basic and diluted EPS for 2025 was negative SGD 141.69 per share, reflecting the net loss and share structure changes.
• Liquidity as of December 31, 2025 included cash and cash equivalents of SGD 1.549 million, current assets of SGD 1.601 million, current liabilities of SGD 1.176 million, resulting in a current ratio of 1.36 and cash ratio of 1.32.
• The company has no outstanding trade receivables as of December 31, 2025.
• The company is a controlled company with majority voting power held by Big Treasure Investments Limited, owned by CEO Joyce Lee Jue Hui.
• The company has plans for geographical expansion including entering the Dubai market with swim lesson offerings.
• The company has engaged in public offerings raising $5 million in April 2026.
• The company has held multiple extraordinary general meetings in 2026 related to share consolidations and corporate actions.
• The company maintains an informal cybersecurity policy with no material cybersecurity incidents reported as of the latest filing.
• The company’s board of directors has oversight responsibility for risk management including cybersecurity.
• The company’s financial statements are audited by Onestop Assurance PAC, a PCAOB-registered firm, with unqualified opinion as of May 15, 2026.