Wed, May 15, 10:45 AM (205 days ago)
DSwiss, Inc. reported a significant improvement in financial performance for the quarter ending March 31, 2024, compared to the same period in 2023. Revenues increased to $471,377 from $265,921, driven by higher sales in the ASEAN region. Gross profits surged to $269,885 from $81,984, reflecting improved cost management and increased sales volume. The company turned a net profit of $177,665, a substantial improvement from a net loss of $16,923 in the prior year. Cash and cash equivalents rose to $304,885 from $249,110, indicating better cash flow management. Total assets increased to $442,208 from $367,493, while total liabilities decreased to $207,239 from $311,078, primarily due to reduced accounts payable and other liabilities. The company continues to face uncertainties related to its ability to sustain profitability and relies on shareholder support for financial stability. DSwiss plans to leverage social media marketing and strategic partnerships to drive future growth. The management is focused on maintaining high-quality standards and expanding its product offerings in the nutraceutical and skincare sectors.