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Armlogi Holding Corp. (BTOC+7.48%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in revenue to $51,143,682 from $42,004,083 in the same quarter the previous year. The increase is attributed to the addition of new warehouse locations.
Costs of sales for the quarter were $50,660,690, representing a significant increase from $34,326,234 in the same quarter of the previous year. This increase is due to higher UPS shipping charges and expanded warehouse operations.
The company reported a gross profit of $482,992 for the quarter, compared to $7,677,849 in the previous year, with the decline attributed to increased costs and decreased customer order volume.
Operating expenses for the quarter were $2,659,156, a decrease from $2,919,547 in the previous year, primarily due to reduced salary expenses and office expenses.
Net loss for the quarter was $1,659,240, down from a net income of $3,744,825 in the previous year.
Cash used in operating activities was $9,232,468, while cash used in investing and financing activities was $1,009,065 and $7,669,896, respectively.
Armlogi had a working capital of $7,378,747 as of December 31, 2024. The company anticipates that its capital requirements will be met by cash generated from financing activities.
The filing also details a Standby Equity Purchase Agreement with YA II PN, Ltd., which allows the company to sell up to $50.0 million of common stock.
Armlogi does not anticipate cash dividend payments to common stockholders in the near future.
The company continues to focus on expanding its warehousing and logistics services, with a significant portion of its revenue generated from customers based in China.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Armlogi Holding Corp. quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.