Dogness (International) Corporation announced robust financial results for the six months ended December 31, 2024, demonstrating strong revenue growth and progress toward profitability. Total revenue reached $12.1 million, marking an 81.1% increase compared to approximately $6.7 million for the same period in 2023. This growth was driven by high demand across all product categories and regions.
The company's net loss decreased significantly by approximately $1.4 million, or 43.2%, from $3.2 million in the prior year to $1.8 million for the six months ended December 31, 2024. Gross profit rose by $2.1 million, or 160.7%, to $3.4 million, with the overall gross profit margin improving to 28.3%, an increase of 8.7 percentage points.
Intelligent pet products revenue grew by 103.5% to $4.5 million, while traditional pet products revenue increased by 29.4% to $4.7 million. Dogness also stated plans to acquire smaller pet product manufacturers in China to strengthen supply chain control and operational efficiencies, aiming to increase market share.
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