GVHGFNasdaqServices-Educational ServicesUS GAAP · USD

Visionary Holdings Inc.

Visionary Holdings Inc. is a United States-listed holding company with operations that bridge education services and high-end anti-aging medical aesthetics. Its reported business structure centers on a core medical aesthetics and health-services platform supported by education-related activities, with operations and expansion efforts tied to North America and Asia.

Revenue5.0m USD
−46.2 %y/y
Operating profit (EBIT)-3.5m USD
−49.0 %y/y
EBIT margin-68.8%
−44.0 ppy/y
Net income-15.8m USD
−1,648.7 %y/y
Free cash flow-3.0m USD
+45.2 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-50510m USD2020: 0.93 m USD2020: EBIT 0.38 m USD20202021: 7.7 m USD2021: EBIT 3.7 m USD20212022: 5.2 m USD2022: EBIT 1.0 m USD20222023: 8.4 m USD2023: EBIT 0.43 m USD20232024: 9.4 m USD2024: EBIT -2.3 m USD20242025: 5.0 m USD2025: EBIT -3.5 m USD20255.0-3.5
RevenueOperating profit (EBIT)

Business

Share of revenue
Anti-aging medical aesthetics services45 %

Services and center-based offerings related to cosmetic, wellness, and anti-aging treatments.

Medical aesthetics products and R&D20 %

Development, marketing, and service support for anti-aging medical aesthetics-related products.

Education services20 %

Education-related programs and supplementary services linked to the company's legacy business.

Health management services10 %

Health management and related services delivered through center-based cooperation arrangements.

AI and strategic support initiatives5 %

Technology-enabled initiatives and platform support intended to strengthen operations and expansion.

Products

Reported · share of revenue
55.4%23.5%21.1%FY2025100 %
  • Rent55.4 %
  • Tuition23.5 %
  • Products21.1 %

Source: 20-F FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

The company appears to serve consumers and end clients seeking anti-aging, aesthetic, and health-management services, particularly in premium urban markets. It also serves education-related users through its supplementary education business and may work through partners for product development, marketing, and service delivery.

Anti-aging aesthetics consumers

Individuals buying cosmetic, anti-aging, and wellness services for appearance and health benefits.

Health management clients

Customers using health-center services for ongoing wellness, monitoring, and related care.

Education users

Students or education-service customers served by the company's supplementary education business.

Commercial cooperation partners

Companies that collaborate on product development, marketing, and service operations.

International expansion markets

Customers targeted through global medical aesthetics expansion, including Canada and broader overseas markets.

Strategy

Visionary Holdings is positioning itself around high-end anti-aging medical aesthetics as its core business, with education retained as a supplementary activity. The company is also trying to combine cross-border cooperation, AI-enabled initiatives, and a Hong Kong financial platform to support product development, service rollout, and international expansion.

Expand high-end medical aesthetics servicesShort term

This is the company's stated core development direction and main growth engine.

Develop partner-led R&D and commercializationMedium term

Cooperation with medical technology partners reduces time to market and broadens product scope.

Integrate AI into education and aestheticsMedium term

Technology integration is intended to improve service quality and differentiate the business.

Build international operating and funding capacityMedium term

Cross-border growth requires capital access and coordination across jurisdictions.

Geography

The company is headquartered in Markham, Ontario, Canada, and has disclosed a planned center in Toronto for anti-aging and health services. Its strategic language also emphasizes global expansion, with product and service cooperation aimed at worldwide markets and support functions linked to Hong Kong and China.

Risks

The company is exposed to execution risk because its strategy depends on building new medical aesthetics operations, completing partner cooperation, and scaling across jurisdictions. It also faces regulatory, licensing, and reputational risk in health and aesthetics services, plus the typical risks of a smaller business shifting into a new core segment while maintaining legacy education activities.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Project execution and integration risk1Regulatory and compliance risk2Partner dependence risk3Reputation and consumer trust risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Project execution and integration riskImpact: HighLikelihood: Medium

    The strategy relies on building new centers and coordinating multiple partners across functions and geographies.

    Exposure: Toronto center and international cooperation projects

  2. Regulatory and compliance riskImpact: HighLikelihood: Medium

    Medical aesthetics and health services are subject to licensing, medical rules, and local healthcare oversight.

    Exposure: Canada operations and cross-border medical services

  3. Partner dependence riskImpact: MediumLikelihood: High

    A meaningful part of the business plan depends on third-party technology, marketing, and service partners.

    Exposure: Joint venture and cooperation agreements

  4. Reputation and consumer trust riskImpact: MediumLikelihood: Medium

    Medical aesthetics services depend heavily on customer perception, service quality, and safety outcomes.

    Exposure: Premium anti-aging service business

Accounting

Judgemental items
Revenue recognition

The company may earn revenue from services, product commercialization, and cooperation arrangements that could be recognized at different times.

Impact: Affects reported timing and comparability across periods

Development cost capitalization

R&D and AI-related initiatives may involve costs that management could capitalize or expense depending on eligibility.

Impact: Affects operating expenses and asset balances

Lease accounting

Service centers and office facilities may create right-of-use assets and lease liabilities under IFRS 16.

Impact: Affects leverage and depreciation/interest presentation

Impairment of investments and intangibles

New strategic projects and acquisitions/cooperations may require periodic impairment testing.

Impact: Could create volatile non-cash charges

Publicly listed companies with a comparable business focus.

Last updated: 28/09/2026