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Entrepreneur Universe Bright Group (EUBG-2.87%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in revenue to $5,274,495 from $6,238,926 in the previous year. This decline is primarily attributed to a reduction in consultation services related to a client engaged in live streaming business.
Cost of revenue increased to $687,161, representing 13% of sales, compared to 8% in the prior year. The increase is due to higher consultancy and labor costs.
The company reported a gross profit of $4,587,334, down from $5,764,358 in the previous year. The decline is attributed to increased costs and decreased revenue.
Selling, general, and administrative expenses increased to $2,005,717 from $1,900,588, mainly due to higher audit and professional fees.
Net income for the year was $1,487,630, compared to $2,282,359 in the previous year. The decrease is largely due to reduced revenue and increased costs.
Cash provided by operating activities was $1,360,532, while cash used in financing activities was $2,211,536, primarily due to dividend payments.
As of December 31, 2024, the company had cash and cash equivalents of $8,488,063, down from $9,324,115 at the end of the previous year.
The company faces risks related to its operations in China, including potential regulatory changes and economic conditions that could impact its business.
Entrepreneur Universe Bright Group continues to focus on its digital marketing consulting services, aiming to expand its customer base and service offerings.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Entrepreneur Universe Bright Group annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.