WebsiteEPWK HOLDINGS LTD Overview
EPWK HOLDINGS LTD (Nasdaq: EPWK) is a Cayman Islands–incorporated holding company that operates an online crowdsourcing platform connecting businesses with talent. Headquartered in Xiamen, China, the company provides creative transaction services, including custom software development, design, and marketing, primarily for small and medium-sized enterprises. Its Class A ordinary shares began trading on the Nasdaq Global Market on February 6, 2025.
Corporate Structure and Operations
EPWK conducts its China-based operations through wholly owned subsidiaries and contractual arrangements with a variable interest entity (VIE). The company has not publicly disclosed its total employee count in filings. Legal and regulatory requirements in China necessitate the use of a VIE structure to facilitate foreign ownership. EPWK’s principal offices and primary technology development activities are located in Xiamen.
Crowdsourcing by Rob Curran
Recent Developments and News
- February 6, 2025: EPWK closed its initial public offering of 2,750,000 Class A ordinary shares at $4.10 per share, generating gross proceeds of $11.275 million. The underwriters held a 30-day option to purchase up to 412,500 additional shares.
- September 30, 2025: The company’s Registration Statement on Form F-1 (File No. 333-290300) was declared effective by the U.S. Securities and Exchange Commission (SEC).
- October 6–8, 2025: EPWK conducted a best-efforts public offering of 24,242,425 units, with each unit comprising one Class A share or a pre-funded warrant and one warrant to purchase one Class A share, priced at $0.33 per unit. The offering included 6,369,780 Class A ordinary shares and 17,872,645 pre-funded warrants, plus 24,242,425 detachable warrants.
- October 9, 2025: The company filed Form 6-K reporting gross proceeds of $8.0 million from the best-efforts offering. Each warrant has a $0.3465 exercise price, exercisable for six months, with a cashless exercise provision. Lock-up agreements prevent directors, officers, and 5% shareholders from selling shares for 90 days.
Financial and Strategic Analysis
In fiscal 2024, EPWK reported revenue of $20.22 million, a 2.1% increase from $19.80 million in 2023, and a net loss of $1.20 million, reflecting an 11.4% increase in losses year-over-year. Proceeds from the public offerings are allocated for business development, marketing, research and development, exploration of new products and services (including an online global design center), working capital, and other general corporate purposes. Insiders are subject to a 90-day lock-up following each offering. The detachable warrants provide a potential future source of capital if exercised.
Market Position and Industry Context
EPWK operates in the Technology Services sector under the Packaged Software group. As of October 9, 2025, its share price closed at $0.0983, representing a 30.54% increase on a trading volume of 40,997,552 shares, with the company’s market capitalization standing near $1.68 million. EPWK competes with other online talent-sourcing platforms, utilizing its integrated cloud-sourcing model to serve both domestic and international clients. Its listing on Nasdaq indicates compliance with U.S. regulatory standards and provides access to a broader investor base, while the VIE structure aligns with Chinese foreign investment regulations.
tl;dr
On October 9, 2025, EPWK shares increased 30.54% to $0.0983 on a volume of 40.99 million. The company reported $8.0 million in gross proceeds from a best-efforts public offering conducted October 6–8, 2025, comprising 24.24 million units priced at $0.33 each. Warrants issued carry a $0.3465 exercise price and are exercisable for six months. Net proceeds are intended for R&D, expansion initiatives, and working capital, in accordance with existing lock-up agreements.
