Envela Corporation reported its financial results for the first quarter ended March 31, 2025, with quarterly revenue of $48.3 million. This represents a robust 21.1% increase from $39.86 million in the same period of 2024. Quarterly earnings per diluted share reached $0.10.
The significant revenue growth was primarily driven by the Consumer segment, which saw sales jump by 30.3% to $36.77 million. This increase was attributed to stronger volumes and favorable pricing in scrap grade precious metals transactions and bullion, supported by exceptional inbound material flow.
Despite a slight sales decrease in the Commercial segment, its gross margin percentage expanded significantly from 58.2% in Q1 2024 to 67.5% in Q1 2025. This improvement was due to a large, high-margin ITAD transaction and growth in the product returns service business.
Consolidated net income increased by 30.7% to $2.49 million, primarily driven by the strong performance and margin expansion in the Commercial segment. The Consumer segment's net income decreased by 21.9% due to increased operating costs and depreciation from new store openings.
Envela's Q1 2025 results demonstrate the strength of its recommerce and recycling business model, with significant growth in the Consumer segment and impressive margin expansion in the Commercial segment. The company's differentiated operational approach continues to provide a competitive edge.
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