DIH Holdings Reports Strong Q2 Growth and Nasdaq Listing

Introduction

DIH HOLDINGS US INC (NASDAQ: DHAI) is a provider of rehabilitation technology and solutions. Founded through the merger of brands such as Hocoma and Motek, the company integrates robotics, virtual reality, and clinical insights across various care settings, including hospitals, clinics, research institutions, and home environments. DIH’s stated mission is to improve the lives of patients with disabilities and functional impairments.

Corporate Structure and Leadership

Headquartered in Volketswil, Switzerland, DIH employed between 201 and 500 professionals worldwide as of recent reports. The management team has extensive experience in the healthcare and technology sectors:

• Jason Chen, Chairman and Chief Executive Officer, has held leadership roles at Cardinal Health and GE prior to founding DIH. He holds an Executive Master from Kellogg School of Management, an MBA from CEIBS, and a fellowship at London Business School.
• Lynden Bass, Chief Financial Officer since March 2023, is a Certified Public Accountant with previous experience as VP and Controller at Rather Outdoors Corporation and CFO of NaturChem Inc.
• Dr. Patrick Bruno, Vice President of Global Sales, has over 20 years of experience in sales leadership at Qiagen, Siemens Healthcare, and Roche Diagnostics.
• Thomas Schmidinger, Chief Technology Officer, previously led R&D and software development at Hocoma and holds an Executive MBA in Innovation Management.

Developments and News

On February 27, 2023, DIH announced a business combination with Aurora Technology Acquisition Corp. (NASDAQ: ATAK), which resulted in its listing on Nasdaq. DIH’s Class A common stock and warrants began trading on the Nasdaq Global Market and Nasdaq Capital Market on February 9, 2024.

On November 14, 2024, DIH reported financial results for the second quarter of fiscal 2025 (ending September 30, 2024), restating its June 30, 2024 Form 10-Q to reflect revenue timing adjustments. The company also filed a prospectus supplement (Rule 424(b)(3)) with the SEC on June 9, 2025, updating investor disclosures and affirming its Nasdaq trading symbols (DHAI and DHAIW).

Financial and Strategic Analysis

As of June 23, 2025, DIH shares closed at $0.2938, reflecting a price increase of 32.94% on a volume of 21,314,549 shares. Key financial metrics (TTM and quarterly data as reported on September 30, 2024) include:

• Market Capitalization: $10.84 million
• Enterprise Value: $24.76 million
• Revenue (TTM): $69.57 million
• Net Loss (TTM): $10.29 million; Diluted EPS: -$0.32
• Profit Margin: -14.79%; Return on Assets: -4.63%
• Total Cash: $1.12 million; Price/Sales: 0.09; EV/Revenue: 0.38

In Q2 2025, DIH reported revenue of $18.2 million, representing a 39.1% increase compared to Q2 2024, driven by a 48.8% rise in device shipments. Gross margin improved to 52.6%, marking an 11-percentage-point increase year over year. Selling, general, and administrative expenses declined by 9.6%, reflecting lower one-time merger-related professional fees. The company reported an income before taxes of $0.1 million, a $2.5 million improvement compared to the previous year.

DIH expects full-year 2025 revenue to be in the range of $60 million to $67 million, accounting for macroeconomic and operational trends identified in the first half of 2025.

Market Position and Industry Context

The rehabilitation technology market is characterized by fragmentation and a reliance on manual processes, with growing demand for robotic and VR-enabled solutions across various healthcare systems. DIH leverages over 20 years of innovation, providing integrated platforms for gait training, balance therapy, and upper-limb rehabilitation. Its strategic mergers and distribution network extend across Europe, the Americas, and Asia Pacific, positioning the company within a competitive market.

tl;dr

As of June 23, 2025, DIH is trading at $0.2938 (+32.94%) on Nasdaq: DHAI, supported by Q2 2025 revenue of $18.2 million (up 39.1%), a gross margin of 52.6%, and positive pre-tax income. The company maintains full-year guidance of $60 million–$67 million in revenue, reflecting continued device demand in EMEA (+72% Q2 2025) and the Americas (+20%).