D-BOX Technologies (DBO) Q1 2025 earnings summary

Executive summary

• Revenue for the quarter ended June 30, 2024 was $8.8M, down from $10.5M year-over-year, with a net loss of $316K compared to net income of $496K in the prior year.

• Gross profit decreased to $4.6M from $5.3M year-over-year, reflecting lower sales and higher cost pressures.

• Cash and cash equivalents declined to $1.7M from $2.9M at March 31, 2024, with negative operating cash flow of $1.4M for the quarter.

Financial highlights

• System sales revenue fell to $6.3M from $7.5M, and rights/rental revenue dropped to $2.4M from $3.0M year-over-year.

• Cost of goods sold was $4.2M, down from $5.2M, but gross margin narrowed due to lower sales volume.

• Operating expenses totaled $4.8M, up slightly from $4.7M year-over-year.

• Basic and diluted EPS was $(0.001), compared to $0.002 in the same quarter last year.

Outlook and guidance

• Announced an 8% workforce reduction to be completed by fiscal year-end, with related costs to be recognized in Q2 2025.

• Increased line of credit to $8.0M and extended loan maturity to September 2027, supporting ongoing operations.