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Chanson International Holding Announces Fiscal Year 2024 Financial Results
CHSNChanson International (CHSN) Prnewswire·2025-04-04 20:05

Core Viewpoint - Chanson International Holding reported moderate revenue growth in fiscal year 2024, driven primarily by strong performance in its bakery product segment in China, despite challenges in the macroeconomic environment [2][4]. Financial Performance - Total revenue increased by 5.7% to 18.2millioninfiscalyear2024,upfrom18.2 million in fiscal year 2024, up from 17.3 million in fiscal year 2023 [4][6]. - Revenue from China Stores rose by 12.8% to 16.1million,withbakeryproductscontributingsignificantlytothisgrowth[7].−RevenuefrombakeryproductsinChinaincreasedby18.016.1 million, with bakery products contributing significantly to this growth [7]. - Revenue from bakery products in China increased by 18.0% to 14.8 million, attributed to the opening of 15 new bakery stores [7]. - Revenue from United States Stores decreased by 29.1% to 2.1million,primarilyduetodeclinesinbeverageproductsandeat−inservices[12].ProfitabilityMetrics−Grossprofitdecreasedto2.1 million, primarily due to declines in beverage products and eat-in services [12]. Profitability Metrics - Gross profit decreased to 7.2 million in fiscal year 2024 from 8.1millioninfiscalyear2023,withagrossmarginof39.58.1 million in fiscal year 2023, with a gross margin of 39.5% compared to 47.2% in the previous year [6][8]. - Net income rose significantly to 0.76 million from 0.03millioninfiscalyear2023,withearningspershareincreasingto0.03 million in fiscal year 2023, with earnings per share increasing to 0.05 from 0.003[10][14].OperatingExpenses−Operatingexpensesdecreasedto0.003 [10][14]. Operating Expenses - Operating expenses decreased to 7.7 million in fiscal year 2024 from 8.8millioninfiscalyear2023,reflectingcostmanagementefforts[9][13].CashFlowandBalanceSheet−Cashandcashequivalentsincreasedto8.8 million in fiscal year 2023, reflecting cost management efforts [9][13]. Cash Flow and Balance Sheet - Cash and cash equivalents increased to 12.1 million as of December 31, 2024, compared to 1.5millionattheendof2023[15].−Netcashprovidedbyoperatingactivitieswas1.5 million at the end of 2023 [15]. - Net cash provided by operating activities was 3.5 million in fiscal year 2024, a turnaround from net cash used in the previous year [16]. Strategic Initiatives - The company has diversified its product offerings by introducing freshly brewed coffee, responding to evolving consumer trends [3]. - Strategic initiatives, including targeted promotions for price-sensitive consumers, have contributed to resilient revenue growth and market share expansion [3].