Introducing & Referral Income was Garden Stage’s largest product and service line in fiscal 2026, bringing in $2.40M of $7.28M (33%).
| Product and Service | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|
| Introducing & Referral Income | $278.69K | $264.94K | $4.68M | $2.40M |
| Underwriting & Placement Income | $1.57M | $152.64K | $114.09K | $1.44M |
| Brokerage Commissions | $811.17K | $391.06K | $302.37K | $974.36K |
| Handling Income | $367.87K | $125.74K | $127.75K | $1.31M |
| Advisory Fees | — | $420.92K | $10.62K | $392.56K |
| Investment Management Fee Income | $30.62K | — | $60.01K | $377.40K |
| 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 | — |
| 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 | $7.28M |
Garden Stage brought in $7.28M from its 11 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 (33.0%), ahead of Underwriting & Placement Income at $1.44M (19.8%) and Handling Income at $1.31M (18.0%). The other eight lines brought in $2.12M 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 Due Diligence Services Fees ($79.54K in fiscal 2025) and Investment Management Fee Income-Related Parties ($2.84K in fiscal 2023) as separate lines.
Third Parties was Garden Stage’s largest revenue line in fiscal 2026, bringing in $7.15M of $7.28M (98%).
| Related and Nonrelated Parties | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|---|
| Third Parties | $3.15M | $1.40M | $5.44M | $7.15M | |
| Related Party | $105.02K | $10.69K | $29.16K | $124.86K | |
| Total | $3.26M | $1.41M | $5.47M | $7.28M |
Garden Stage brought in $7.28M from its two revenue lines in fiscal 2026, the year ended March 31, 2026. That was up 33.2% from $5.47M in fiscal 2025. Third Parties was the largest at $7.15M (98.3%), ahead of Related Party at $124.86K (1.7%).
From fiscal 2023 to 2026, combined revenue from these revenue lines grew from $3.26M to $7.28M, a compound annual growth rate of 30.7%. Third Parties' share of the total rose from 96.8% to 98.3%.
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 (33.0% of the total), followed by Underwriting & Placement Income at $1.44M (19.8%).
Introducing & Referral Income was Garden Stage's largest product and service line in fiscal 2026, bringing in $2.40M, or 33.0% of the $7.28M total across its 11 product and service lines.
Third Parties was Garden Stage's largest revenue line in fiscal 2026, bringing in $7.15M, or 98.3% of the $7.28M 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.