Core Viewpoint - HomesToLife Ltd reported a significant decline in financial performance for fiscal year 2024, with a net revenue decrease of 18% compared to the previous year, attributed to various industry challenges and increased operating expenses [3][4][6]. Financial Performance Summary - For fiscal year 2024, HomesToLife had net revenue of $4,173,028, down from $5,072,320 in fiscal 2023 [3]. - The gross profit margin for fiscal 2024 was 65.8%, a decline from 71.7% in fiscal 2023, primarily due to a shift in sales mix and competitive pricing strategies [5]. - Total operating expenses increased by $1,109,948, or 32%, in fiscal 2024, largely due to listing expenses and increased general and administrative costs [6]. - The company reported a loss from operations of $1,788,938 in fiscal 2024, compared to an income of $210,459 in fiscal 2023 [7]. - HomesToLife's net loss for fiscal 2024 was $1,666,195, or $(0.11) per share, compared to a net income of $237,499, or $0.02 per share, in fiscal 2023 [8][19]. Operational Developments - The company launched HTL Far East Pte. Ltd. in October 2024, which is expected to contribute $12-14 million in revenue for 2025, despite minor contributions in 2024 [2]. - A comprehensive restructuring initiative was initiated in April 2025 to enhance financial performance, including closing underperforming stores and implementing strict expense controls [10]. Cash Flow and Assets - Cash and cash equivalents increased to $3,442,259 as of December 31, 2024, from $1,366,231 in 2023 [8]. - Net cash used in operating activities was $1,021,680 in fiscal 2024, compared to net cash provided of $894,784 in fiscal 2023 [9]. - Total assets rose to $8,618,260 as of December 31, 2024, from $7,117,191 in 2023 [17].

Company Overview - HomesToLife Ltd is a leading home furniture products retail chain in Singapore, operating through its wholly owned subsidiary, HomesToLife Pte. Ltd, which offers customized furniture solutions [3][4] - The company also has another subsidiary, HTL Far East Pte. Ltd, focused on sourcing, distributing, and delivering premium furniture to the business sector across the Asia-Pacific region [3] Financial Results Announcement - HomesToLife plans to release its financial results for the fiscal year ended December 31, 2024, on April 7, 2025, before the market opens [1] - A conference call to review the financial results is scheduled for April 11, 2025, at 8:30 a.m. ET [1] Retail Operations - HomesToLife Pte. Ltd operates six retail store locations and has been helping homeowners create personalized living spaces since 2014 [4] - The company offers a variety of products, including leather and fabric upholstered furniture, case goods, and accessories, providing a one-stop shop for customers [4] - HomesToLife is committed to fair pricing, great value, consistent quality, and on-time delivery [4]