Tue, Jun 11, 8:17 PM (88 days ago)
Armlogi Holding Corp.'s Q1 2024 financials show a mixed performance. Revenue increased by 27.6% YoY to $38.4 million, driven by growth in transportation and warehousing services. However, gross profit dropped to $3.3 million from $6.3 million, with margins shrinking to 8.6% from 20.8%, primarily due to higher costs in freight, rental, and labor expenses linked to business expansion, particularly in California. Net income declined to $0.7 million from $2.2 million. Cash flow from operations was $4.0 million, down from $10.5 million YoY, due to higher receivables and payables. The company completed an IPO in May 2024, raising $8 million. Future outlook hinges on managing operating costs and leveraging new capital for growth.