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DSS Inc. (DSS-1.37%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's operations across five business lines: Product Packaging, Biotechnology, Commercial Lending, Securities and Investment Management, and Direct Marketing. Each segment operates in various stages of development and income generation.
Product Packaging, led by Premier Packaging Corporation, focuses on consumer product packaging and document security printing. This segment reported revenues of $16,107,000, a decrease from the previous year.
The Biotechnology segment is involved in drug discovery and healthcare solutions, with a focus on unmet medical needs. This segment did not report significant revenue for the fiscal year.
Commercial Lending, through American Pacific Financial, provides financial services and reported revenues of $226,000, reflecting a decrease from the prior year.
The Securities and Investment Management segment includes real estate investment trusts and broker-dealer operations. This segment reported revenues of $2,764,000.
Direct Marketing, which specializes in peer-to-peer decentralized sharing marketplaces, did not generate revenue in 2024 due to a strategic shift in business operations.
DSS reported a total revenue of $19,097,000, a 26% decrease compared to the previous year. The decline is attributed to reduced sales across multiple segments.
The company recorded a net loss of $53,706,000, with significant impairments in goodwill and real estate assets contributing to the loss.
DSS's strategic focus includes expanding high-impact business lines, optimizing cost structures, and driving innovation through research and development.
The company completed the initial public offering of its subsidiary, Impact BioMedical, Inc., raising substantial capital to support its expansion into biomedical technologies.
DSS continues to face risks related to its financial position, including dependence on key customers, potential intellectual property claims, and the need for additional financing.
The company identified material weaknesses in its internal control over financial reporting and is taking steps to address these issues.
DSS's leadership team underwent changes, with Jason Grady appointed as Interim CEO following the resignation of Frank D. Heuszel.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DSS Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.