Core Insights - Dogness (International) Corporation reported a revenue increase of 39.5% for fiscal year 2025, reaching approximately $20.7 million, driven by strong sales in intelligent pet products and climbing hooks [2][3][4] - The company's gross profit rose by 60.9% to nearly $5.0 million, reflecting improved operational efficiency and cost management [2][14] - Despite a competitive industry landscape, Dogness aims to expand its international presence and enhance product innovation while diversifying its market reliance [2][12] Financial Performance - Revenue increased by approximately $5.9 million, or 39.5%, from approximately $14.8 million in fiscal 2024 to approximately $20.7 million in fiscal 2025 [3][4] - Revenue breakdown: Traditional pet products decreased by 4.1% to $8.6 million, intelligent pet products increased by 43.7% to $6.3 million, and climbing hooks and others surged by 325.2% to $5.8 million [4][6][8] - International sales rose by 35.4% to approximately $13.6 million, while domestic sales increased by 48.1% to approximately $7.1 million [11][12] Cost and Profitability - Cost of revenues increased by 33.7% to approximately $15.7 million, but as a percentage of revenues, it decreased to 75.7% from 79.0% [13] - Gross profit margin improved to 24.3%, up 3.3 percentage points from the previous year [14] - Net loss decreased by 15.8% to approximately $5.1 million, compared to $6.1 million in fiscal 2024 [18][24] Expenses - Selling expenses increased by 16.1% to approximately $1.3 million, while general and administrative expenses rose by 16.9% to approximately $9.2 million [15][16] - Research and development expenses surged by 82.7% to approximately $1.1 million, reflecting the company's commitment to innovation [17] Cash Flow and Assets - Cash and cash equivalents increased significantly to $12.8 million from $7.0 million in the previous year [22][26] - Total assets rose to approximately $116.8 million, up from $99.2 million, indicating a strong balance sheet [22][23]