Dogness (International) (DOGZ) Registration Filing summary

Company overview and business model

• Designs and manufactures pet products, including smart collars, leashes, harnesses, feeders, and wellness items, with a focus on technology integration and vertical production.

• Operates as a British Virgin Islands holding company with subsidiaries in China, Hong Kong, Delaware, and the BVI; most operations and assets are in China.

• Exports a majority of products to the U.S. and Europe, selling through major retail chains and specialty pet stores.

• Emphasizes R&D, holding 209 patents and 174 trademarks globally, and invests in smart pet technology and eco-friendly materials.

• Vertically integrated manufacturing allows for in-house design, production, and quality control, supporting rapid product innovation.

Financial performance and metrics

• R&D expenses were $1.1M in 2025, $0.6M in 2024, and $0.9M in 2023, representing 5.4%, 4.1%, and 5.3% of total revenues, respectively.

• Smart product revenues were $6.3M in 2025, $4.4M in 2024, and $7.4M in 2023.

• As of June 30, 2025, outstanding bank loans totaled $4.1M, with $2.0M due in one year.

• No dividends have been paid to date; earnings are retained for business growth.

• Major customers account for a significant portion of revenue, with the top four customers representing 30.4%, 13.9%, 13.3%, and 7.5% of 2025 revenue.

Use of proceeds and capital allocation

• Net proceeds from offerings will be used for working capital, general corporate purposes, repayment/refinancing of debt, and potential acquisitions.

• Proceeds may be temporarily invested in interest-bearing accounts or securities until used.