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Dogness Half Year Ended December 31, 2023 Revenue $6.7M VS $10.4M YoY

Benzinga ·  Apr 18 16:48

Financial Results for the Half Year Ended December 31, 2023

Revenuesdecreased by approximately $3.7 million, or 35.8%, to approximately $6.7 million for the six months ended December 31, 2023 from approximately $10.4 million for the same period in 2022. The decrease in revenue was primarily attributable to the significant decrease in sales for both domestic and international markets.

The following table breaks down Dogness' revenue by product and service type for the six months ended December 31, 2023 and 2022:





For the six months ended December 31,





2023

2022

Products and services category

Revenue

RevenueVariance %
Products

















Traditional pet products

$3,601,676

$4,720,547

(23.7)%
Intelligent pet



2,234,220



4,909,115

(54.5)%
Climbing hooks and others



761,742



722,312

5.5%
Total revenue from products



6,597,638



10,351,974

(36.3)%




















Services

















Dyeing services



77,049



-

-%
Other services



-



46,633

(100.0)%
Total revenue from services



77,049



46,633

65.2%
Total

$6,674,687

$10,398,607

(35.8)%

Traditional pet products

Revenue from traditional pet products decreased by $1.1 million or 23.7%, from $4.7 million in the six months ended December 31, 2022, to $3.6 million in the six months ended December 31, 2023. The decline was...

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