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DSwiss Inc (DQWS0.00%). has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, reporting a revenue increase to $3,112,887 from $1,470,071 in the previous year. This increase is attributed to OEM/ODM sales of nutraceutical and skincare supplies.
Cost of revenue for the year was $2,489,616, up from $1,110,846 the previous year. The increase aligns with the growth in revenue.
The company reported a gross profit of $623,271, compared to $359,225 in the previous year. The gross margin decreased from 24.44% to 20.02%.
Selling, general, and administrative expenses rose to $603,720 from $367,647, a 64.21% increase.
Net income for the year was $22,223, compared to a net loss of $49,535 in the previous year. The improvement is due to increased revenue.
As of December 31, 2024, DSwiss had a working capital surplus of $13,645, with cash and cash equivalents totaling $397,476.
The company generated $182,699 in cash from operating activities, while cash used in investing activities was $105,258, primarily for plant and equipment purchases.
Cash generated from financing activities was $68,306, mainly due to finance lease additions.
DSwiss reported no significant off-balance sheet arrangements and acknowledged a material weakness in internal controls over financial reporting.
The company continues to focus on expanding its market presence in the beauty and health industries, with strategic plans for mergers and acquisitions to drive growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DSwiss Inc annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.