Introducing & Referral Income was Garden Stage’s largest product and service line in fiscal 2026, bringing in $2.40M of $5.46M (44%).
| Product and Service | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|
| Introducing & Referral Income | $278.69K | $264.94K | $4.68M | $2.40M |
| Brokerage Commissions | $811.17K | $391.06K | $302.37K | $974.36K |
| Underwriting & Placement Income | $1.57M | $152.64K | $114.09K | — |
| Handling Income | $367.87K | $125.74K | $127.75K | $1.31M |
| Advisory Fees | — | $420.92K | $10.62K | $392.56K |
| Investment Management Fee Income-Related Party | — | — | — | $117.70K |
| Interest Income & Others | $91.31K | $42.49K | $61.02K | $253.82K |
| Due Diligence Services Fees | — | — | $79.54K | — |
| Investment Management Fee Income | $30.62K | — | $60.01K | — |
| Brokerage Commissions-Related Parties | $89.74K | $7.12K | $26.88K | $5.90K |
| Interest Income & Others-Related Parties | $10.16K | $1.44K | $2.28K | $1.17K |
| Investment Management Fee Income-Related Parties | $2.84K | — | — | — |
| Handling Income-Related Parties | $2.28K | $2.13K | — | $91 |
| Total | $3.26M | $1.41M | $5.47M | $5.46M |
Garden Stage brought in $5.46M from its nine product and service lines in fiscal 2026, the year ended March 31, 2026. Garden Stage regrouped these lines after fiscal 2025, so the total does not compare directly with that year's $5.47M. Introducing & Referral Income was the largest at $2.40M (44.0%), ahead of Handling Income at $1.31M (24.0%) and Brokerage Commissions at $974.36K (17.8%). The other six lines brought in $771.24K combined.
Compared with fiscal 2025, Advisory Fees grew fastest, up 3,595.0% to $392.56K, while Introducing & Referral Income fell the most, down 48.6% to $2.40M.
Garden Stage began breaking out Advisory Fees in fiscal 2024 and Investment Management Fee Income-Related Party in fiscal 2026. Garden Stage stopped reporting Underwriting & Placement Income ($114.09K in fiscal 2025), Due Diligence Services Fees ($79.54K in fiscal 2025), Investment Management Fee Income ($60.01K in fiscal 2025) and one other as separate lines.
Third Parties was Garden Stage’s largest revenue line in fiscal 2025, bringing in $5.44M of $5.47M (99%).
| Related and Nonrelated Parties | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Third Parties | $1.56M | $3.15M | $1.40M | $5.44M |
| Related Party | $743.29K | $105.02K | $10.69K | $29.16K |
| Total | $2.31M | $3.26M | $1.41M | $5.47M |
Garden Stage brought in $5.47M from its two revenue lines in fiscal 2025, the year ended March 31, 2025. That was up 288.1% from $1.41M in fiscal 2024. Third Parties was the largest at $5.44M (99.5%), ahead of Related Party at $29.16K (0.5%).
From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $2.31M to $5.47M, a compound annual growth rate of 33.3%. Third Parties' share of the total rose from 67.8% to 99.5%.
Garden Stage (GSIW) reports its revenue by product and service and by related and nonrelated parties. In fiscal 2026, Introducing & Referral Income was its largest product and service line, bringing in $2.40M (44.0% of the total), followed by Handling Income at $1.31M (24.0%).
Introducing & Referral Income was Garden Stage's largest product and service line in fiscal 2026, bringing in $2.40M, or 44.0% of the $5.46M total across its nine product and service lines.
Third Parties was Garden Stage's largest revenue line in fiscal 2025, bringing in $5.44M, or 99.5% of the $5.47M total across its two revenue lines.
Every figure comes from Garden Stage's annual financial filings, as reported. Each line keeps the name Garden Stage gives it, and years follow its fiscal calendar.
Garden Stage's revenue by product and service goes back to fiscal 2023, with figures through fiscal 2026. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.