EUDA Health (US:EUDA)2025-10-01 20:31Financial Performance - Total revenues for the six months ended June 30, 2025, increased to $3,057,323, representing a 60% growth compared to $1,908,048 for the same period in 2024[5] - Gross profit for the same period was $835,314, up from $442,072, indicating a significant improvement in profitability[5] - The net loss attributable to Euda Health Holdings Limited for the six months ended June 30, 2025, was $1,204,001, a reduction from a net loss of $16,827,829 in the prior year[5] - The company reported a gross profit margin of approximately 27% for the six months ended June 30, 2025, compared to 23% in the same period of 2024[5] - For the six months ended June 30, 2025, the net loss from continuing operations was $1,201,696, a significant improvement compared to a net loss of $16,748,274 for the same period in 2024, representing an 92.83% reduction[9] - The total loss before income taxes for the six months ended June 30, 2025, was $1,205,970, a significant decrease from $16,749,253 for the same period in 2024[159] - The provision for income taxes for the six months ended June 30, 2025, was a benefit of $4,274, compared to a benefit of $979 for the same period in 2024[159] Assets and Liabilities - Total current assets increased to $1,306,436 as of June 30, 2025, compared to $762,876 as of December 31, 2024, reflecting a 71% increase[2] - Total liabilities rose to $5,848,771 as of June 30, 2025, compared to $4,269,878 at the end of 2024, marking a 37% increase[2] - The accumulated deficit increased to $(51,304,427) as of June 30, 2025, from $(50,100,426) at the end of 2024[3] - As of June 30, 2025, the company's working capital deficit was approximately $4.4 million, with cash on hand of approximately $0.2 million[17] - The company had total accounts receivable of $426,688 as of June 30, 2025, up from $146,174 as of December 31, 2024[106] - The Company’s total intangible assets, net, were valued at $260,370 as of June 30, 2025, compared to $337,295 as of December 31, 2024[111] Cash Flow and Financing - The net cash used in operating activities from continuing operations was $1,215,423, slightly higher than $1,120,810 in the prior year, indicating a 8.45% increase in cash outflow[9] - The company reported cash paid for income tax of $28,943, compared to $11,533 in the previous year, reflecting a 150.56% increase[10] - The total cash at the end of the period was $176,584, down from $390,578 at the end of the same period in 2024, marking a 54.8% decrease[10] - The company reported a net cash provided by financing activities from continuing operations of $1,117,757, compared to $1,299,775 in the previous year, indicating a 14.0% decrease[10] - The company has an ongoing need to raise additional cash from outside sources to fund its operations and expansion plans[17] Business Operations and Strategy - The company has expanded its operations to provide non-invasive healthcare products and services in Asia, focusing on Singapore, Malaysia, and China[12] - The company streamlined its medical services practice, which has been accounted for as a discontinued operation, significantly impacting its financial results[12] - The company reorganized its business into two reportable segments: property management services and holistic wellness consumer products and services[29] - The company is in the process of transitioning its business to other medical service fields, which has been accounted for as a discontinued operation due to its significant impact on operations and financial results[96] Shareholder and Equity Information - The weighted average number of ordinary shares increased to 37,156,364 for the six months ended June 30, 2025, from 28,370,557 in the prior year[6] - The basic and diluted loss per share for continuing operations was $(0.03) for the six months ended June 30, 2025, compared to $(0.59) for the same period in 2024[76] - The company issued 940,000 ordinary shares at $1.00 per share for a total of $940,000 in a private placement between May 16 and May 22, 2023, later canceling 200,000 shares due to non-payment[135] - The company has the potential to issue up to 4,000,000 Earnout Shares based on achieving specific share price and financial performance metrics over the next two years[151][152] Impairment and Losses - The company recognized an impairment loss on goodwill of $14,755,560 in the previous year, which was not present in the current period[9] - Nil impairment of intangible assets was recorded for the six months ended June 30, 2025, compared to $14,755,560 for the same period in 2024[42] - The company reported impairment losses on long-lived assets of $14,755,560 for the six months ended June 30, 2024, while no impairment losses were recognized for the same period in 2025[43] Legal and Regulatory Matters - The company is not currently involved in any material legal proceedings as of June 30, 2025[179] - The company filed an application to set aside a statutory demand for $138,202.66, which was found to have a substantial dispute and was ordered to be set aside[178] Segment Performance - The property management services segment generated $2,089,041 in revenue, while the holistic wellness consumer products and services segment contributed $893,785[183] - The company reported a segment loss of $(207,539) for the six months ended June 30, 2025, compared to a loss of $(729,989) for the same period in 2024, indicating an improvement in operational performance[183][185]