Brillia (BRIA) H1 2024 earnings summary

Executive summary

• Revenue for the six months ended September 30, 2024, reached $27.4 million, up 17% year-over-year.

• Net income was $1.13 million, or $0.06 per share, nearly unchanged from the prior-year period.

• Strong export sales growth to North America (+38%) offset a 56% decline in European exports.

Financial highlights

• Gross profit margin improved to 15.4% from 14.8% year-over-year.

• Operating expenses rose 27%, mainly due to higher employee benefits (+56%) and other expenses (+24%).

• Cash and cash equivalents stood at $5.9 million as of September 30, 2024, down from $6.4 million at March 31, 2024.

• Net cash used in operating activities was $0.20 million, down from $0.68 million a year earlier.

Outlook and guidance

• North American sales expected to remain strong.

• European sales anticipated to improve due to a new partnership with Maison Lejaby.

• The DIANA lingerie brand is projected to contribute significantly in ASEAN markets later in the year.