ICZOOM Group Inc. Announces Unaudited Financial Results for First Half of Fiscal Year 2025
HONG KONG, June 20, 2025 /PRNewswire/ -- ICZOOM Group Inc. (NASDAQ:IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced its unaudited financial results for the six months ended December 31, 2024, on June 18, 2025.
Amidst a continuously evolving market environment, ICZOOM executed effectively in line with its initial expectation. ICZOOM achieved positive revenue growth with total revenue increased by 3.0% from $87,720,553 for the six months ended December 31, 2023 to $90,340,640 for the six months ended December 31, 2024. ICZOOM successfully turned a profit, with diluted earnings per share (EPS) reaching USD $0.07 for the six months ended December 31, 2024, increased from a loss of USD 0.07 per share for the six months ended December 31, 2023.
For the six months ended December 31,
2024
2023
(Unaudited)
(Unaudited)
Variances
% of total
% of total
Amount
revenue
Amount
revenue
Amount
%
Revenues
Sales of electronic components
$
89,068,580
98.6
%
$
86,329,512
98.4
%
$
2,739,068
3.2
%
Service commission fee
1,272,060
1.4
%
1,391,041
1.6
%
(118,981)
(8.6)
%
Total revenue
%
%
%
$
90,340,640
100.0
$
87,720,553
100.0
$
2,620,087
3.0
For the six months ended
December 31,
Note
2024
2023
EARNINGS/(LOSS) PER ORDINARY SHARE:
– BASIC
$
0.07
$
(0.07)
– DILUTED
$
0.07
$
(0.07)
Ms. Duanrong Liu, the Co-Founder and Chief Operating Officer of ICZOOM, highlighted that ICZOOM's positive performance during the six months ended December 31, 2024 is primarily attributable to the increased stock-keeping unit ("SKUs") and new customers, which increased by 7.3% from 8,373 different products for the six months ended December 31, 2023 to 8,986 different products for the six months ended December 31, 2024, as well as the number of new customers rose by 16 or 15.1% from 106 as of December 31, 2023 to 122 as of December 31, 2024.
For the six months ended December 31,
2024(Unaudited)
2023(Unaudited)
Variances
%
Stock-keeping unit (SKU) available for sale-Semiconductor
7,801
6,955
846
12.2
%
Stock-keeping unit (SKU) available for sale-Equipment and tools
1,185
1,418
(233)
(16.4)
%
Total SKUs
8,986
8,373
613
7.3
%
Besides the changes on the financial statements, Ms. Liu also stated that the company's development is closely linked to the growth of China's automotive electronics industry.
According to the 2025-2030 Development Status and Investment Strategy Research Report on China's Automotive Electronics Industry released by the CCID Industry Research Institute, the size of China's automotive electronics market reached approximately RMB 1.22 trillion (approximately $ 171.83 billion) in 2024, representing a growth of 10.95% compared to the previous year.Please refer to the Company's unaudited interim financial results, that can be found at http://ir.iczoomex.com/index.html. The company uses its website as a tool to disclose important information about the Company and to comply with its disclosure obligations under Regulation Fair Disclosure.
About ICZOOM Group Inc.
ICZOOM Group Inc. (NASDAQ:IZM) is primarily engaged in sales of electronic component products to customers in Hong Kong and mainland China through its B2B e-commerce platform. These products are primarily used by China based small and medium-sized enterprises ("SMEs") in the consumer electronic industry, Internet of Things ("IoT"), automotive electronics and industry control segments. By utilizing latest technologies, the Company's platform collects, optimizes and presents product offering information from suppliers of all sizes, all transparent and available to its SME customers to compare and select. In addition to the sales of electronic component products, the Company also provides services to customers such as temporary warehousing, logistic and shipping, and customs clearance. For more information, please visit the Company's website:
http://ir.iczoomex.com/index.html.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "should," "will," "could" and similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
ICZOOM GROUP INC. AND ITS SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
December 31,
June 30,
2024
2024
Note
(Unaudited)
(Audited)
ASSETS
CURRENT ASSETS:
Cash
$
1,143,940
$
2,453,728
Restricted cash
4,531,918
3,031,232
Notes receivable
6,595
3,071
Accounts receivable
3
33,649,619
28,297,491
Inventories, net
4
1,093,582
339,286
Advances to suppliers
5
982,134
4,022,696
Prepaid expenses and other current assets
7
3,186,205
984,563
TOTAL CURRENT ASSETS
44,593,993
39,132,067
Property and equipment, net
8
76,357
123,295
Right-of-use assets, net
10
77,523
379,101
Intangible assets, net
9
146,473
204,033
Other non-current assets
7,097
1,448
Deferred tax assets
13
37,802
135,098
TOTAL NON-CURRENT ASSETS
345,252
842,975
TOTAL ASSETS
$
44,939,245
$
39,975,042
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Short-term bank loans, net
11
$
10,681,158
$
10,211,264
Notes payable
11
-
1,543,465
Accounts payable
12
10,627,849
