Executive Summary

Modest top-line growth with FY revenue up 4.1% YoY to $22.47M and Q4 revenue up 3.0% YoY to $5.65M; however, Q4 posted a net loss of $(0.09)M and EPS of $(0.05) vs $(0.02) in the prior-year quarter .
Sequentially, Q4 revenue was essentially flat (+0.4%) vs Q3, but profitability declined from Q3’s $0.09M net income (EPS $0.04) to a $(0.09)M net loss (EPS $(0.05)) in Q4, indicating a softer margin exit rate into FY-end .
Full-year losses narrowed materially (FY25 net loss $(0.14)M, EPS $(0.07) vs FY24 net loss $(0.41)M, EPS $(0.20)), reflecting better overall operating control across the year despite the weak Q4 print .
No guidance or earnings call transcript was available in our sources; estimate comparisons were not possible due to lack of S&P Global consensus coverage for EPS/revenue in Q4 (thin coverage) .

What Went Well and What Went Wrong

What Went Well
- Revenue growth: Q4 revenue rose 3.0% YoY to $5.65M (from $5.49M), and FY revenue increased 4.1% YoY to $22.47M .
- Profit improvement on a full-year basis: FY25 net loss narrowed to $(0.14)M (EPS $(0.07)) from $(0.41)M (EPS $(0.20)) in FY24, underscoring annual progress despite Q4 softness .
- Q3 profitability: The immediately prior quarter delivered positive net income from operations of $0.09M (EPS $0.04), demonstrating the business can be profitable on a quarterly basis .
What Went Wrong
- Q4 loss widened YoY: Net loss of $(0.09)M (EPS $(0.05)) vs $(0.03)M (EPS $(0.02)) in Q4’24; net margin deteriorated to -1.6% from -0.6% YoY .
- Sequential margin deterioration: Q4 net margin fell to -1.6% from +1.5% in Q3, despite essentially flat revenue QoQ (+0.4%), indicating higher costs or mix/one-time items pressuring profitability at FY-end .
- Limited disclosure: No guidance and no earnings call in our source set; press materials contained no qualitative drivers or commentary, limiting visibility on the “why” behind the Q4 step-down .

Financial Results

Quarterly performance (oldest → newest):

Metric	Q4 2024	Q2 2025	Q3 2025	Q4 2025
Revenue ($)	$5,490,296	$5,643,444	$5,632,151	$5,654,985
Net Income (Loss) ($)	$(31,085)	$(157,681)	$86,784	$(92,000)
EPS ($)	$(0.02)	$(0.08)	$0.04	$(0.05)
Net Income Margin %	-0.6% (−31,085/5,490,296)	-2.8% (−157,681/5,643,444)	1.5% (86,784/5,632,151)	-1.6% (−92,000/5,654,985)
YoY Revenue Growth	—	—	—	3.0% ((5,654,985−5,490,296)/5,490,296)
QoQ Revenue Growth	—	—	(−0.2%) ((5,632,151−5,643,444)/5,643,444)	0.4% ((5,654,985−5,632,151)/5,632,151)

Full-year comparison:

Metric	FY 2024	FY 2025
Revenue ($)	$21,593,264	$22,469,710
Net Income (Loss) ($)	$(406,568)	$(136,240)
EPS ($)	$(0.20)	$(0.07)

Estimates vs Actuals (Q4 2025):

Metric	Consensus (S&P Global)	Actual	Beat/Miss
Revenue ($)	N/A	$5,654,985	N/A
EPS ($)	N/A	$(0.05)	N/A

Segment breakdown and KPIs: Not disclosed in the press release; no segment/KPI details were provided .

Guidance Changes

No guidance was provided in the earnings press release or other Q4 materials in our source set .

Metric	Period	Previous Guidance	Current Guidance	Change
—	—	—	—	—

Earnings Call Themes & Trends

No earnings call transcript was identified in our document set for Q4; press materials included only the results release without qualitative commentary .

Topic	Previous Mentions (Q-2, Q-1)	Current Period (Q4 2025)	Trend
Macro/Cost Drivers	No qualitative commentary in press releases	No commentary provided	N/A
Pricing/Mix	No commentary	No commentary	N/A
Portfolio/Leasing	No commentary	No commentary	N/A
Capital Allocation	No commentary	No commentary	N/A
Regulatory/Legal	No commentary	No commentary	N/A

Management Commentary

The Q4 press release provided financial figures but contained no narrative, management quotes, or discussion of drivers, outlook, or strategy .
Prior-quarter press releases similarly listed results with no qualitative context or quotes .

Q&A Highlights

No Q&A highlights are available as no earnings call transcript was identified in our source set for the quarter .

Estimates Context

Wall Street consensus: No S&P Global consensus estimates for revenue or EPS were available for Q4 2025; the company has thin/no analyst coverage in the period reviewed. Actual revenue was $5.65M and EPS was $(0.05), both from the company’s press release .
Implications: With no published consensus, near-term estimate revisions are unlikely to be a catalyst; investors will rely on the company’s reported trajectory (FY loss narrowing, but soft Q4 margins) to frame expectations .

Key Takeaways for Investors

Top-line grew modestly: Q4 revenue +3.0% YoY and FY revenue +4.1% YoY show steady albeit low-single-digit growth .
Profitability remains fragile: Q4 swung from Q3’s $0.09M profit to a $(0.09)M loss, pushing net margin to −1.6% despite flat revenue, suggesting cost/mix pressure at FY-end .
Annual improvement, weak exit rate: FY25 losses narrowed sharply vs FY24, but Q4 deterioration tempers the momentum into FY26 absent clarity on drivers .
Limited disclosure and no guidance: Lack of call and guidance reduces visibility; without external estimates, narrative catalysts depend on future disclosures and demonstrated operating leverage .
Watch next quarter for margin recovery: Given Q3 profitability, a rebound in margins and clarity on cost structure/occupancy (if relevant) would be a positive signal; continued softness would challenge the path to sustained profitability .
Position sizing should reflect thin coverage/liquidity: With minimal Street coverage and sparse disclosures, price moves may be headline-driven; emphasize risk management and confirm fundamentals with ensuing filings .

Citations:

Q4 2025 8-K and press release:
Q3 2025 8-K and press release:
Q2 2025 8-K and press release:

MAYS J W INC (MAYS)·Q4 2025 Earnings Summary