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Longduoduo Co (LDDD-2.33%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing total revenue of $1,775,495, a decrease from $2,340,543 in the same quarter the previous year. The decrease is attributed to a reduction in customer health expenditures and the economic environment.
Cost of revenue for the quarter was $28,781, resulting in a gross profit of $1,746,714. The company reported a net income of $501,599, compared to $182,828 in the previous year.
Operating expenses for the quarter were $1,144,140, down from $1,902,659 in the previous year. The decrease was primarily due to reduced advertising and promotion expenses.
Longduoduo reported cash and cash equivalents of $1,619,033 as of December 31, 2024, with a working capital of $859,873. The company plans to balance customer deposits and prepayments with profits from operations and potential financing.
The filing also notes that the company is subject to various risks, including changes in U.S.-China relations and economic conditions, which may impact its business operations and financial results.
Longduoduo identified material weaknesses in its internal controls over financial reporting, including a lack of segregation of duties and expertise in U.S. GAAP.
The company continues to focus on its preventive healthcare solutions and plans to adjust operational policies to improve its financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Longduoduo Co quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.