DOGZ
Dogness (International)FDocument history
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Related articleQuarter not tagged2026-04-02Dogness Reports Financial Results for the Six Months Ended December 31, 2025
PR Newswire
Dogness Reports Financial Results for the Six Months Ended December 31, 2025
DONGGUAN, China and PLANO, Texas, April 1, 2026 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its financial results for the six months ended December 31, 2025. Mr. Silong Chen, Chief Executive Officer of the Company, commented: "The first half of fiscal 2026 presented challenges as U.S. tariff policies temporarily impacted our overall revenue and margins. Despite these headwinds, our core traditional pet products category demonstrated strong resilience, growing 14.6% year-over-year driven by increased global demand and loyal customer orders." "To mitigate external pressures, we took proactive steps to optimize operations, successfully reduced our general and administrative expenses by over 20%. At the same time, we strategically invested in targeted marketing to expand our brand footprint and capture future market share." "Looking ahead, our outlook remains highly optimistic. We are accelerating our R&D initiatives to introduce a new generation of intelligent, eco-friendly pet products that meet evolving consumer demands. Backed by a robust portfolio of over 200 patents and a fully integrated supply chain, Dogness is well-positioned to navigate these temporary trade fluctuations, return to sustainable growth, and deliver long-term shareholder value." Financial Results for the Half Year Ended December 31, 2025 Revenue decreased by approximately $4.4 million, or 36.2%, from about $12.1 million for the six months ended December 31, 2024 to approximately $7.7 million for the six months ended December 31, 2025. The decrease in revenue was primarily attributable to the impact of United State's tariff policies. The following table breaks down Dogness' revenue by product and service type for the six months ended December 31, 2025 and 2024: ─ Traditional pet products Revenue from traditional pet products increased by approximately $0.7 million, or 14.6%, from approximately $4.7 million for the six months ended December 31, 2024 to approximately $5.3 million for the six months ended December 31, 2025. The increase was mainly driven by increased sales volume for the six months ended December 31, 2025. Among the total revenue increase, $0.5 million was from sales to customers in international mark…Read full documentShow less
DONGGUAN, China and PLANO, Texas, April 1, 2026 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its financial results for the six months ended December 31, 2025. Mr. Silong Chen, Chief Executive Officer of the Company, commented: "The first half of fiscal 2026 presented challenges as U.S. tariff policies temporarily impacted our overall revenue and margins. Despite these headwinds, our core traditional pet products category demonstrated strong resilience, growing 14.6% year-over-year driven by increased global demand and loyal customer orders." "To mitigate external pressures, we took proactive steps to optimize operations, successfully reduced our general and administrative expenses by over 20%. At the same time, we strategically invested in targeted marketing to expand our brand footprint and capture future market share." "Looking ahead, our outlook remains highly optimistic. We are accelerating our R&D initiatives to introduce a new generation of intelligent, eco-friendly pet products that meet evolving consumer demands. Backed by a robust portfolio of over 200 patents and a fully integrated supply chain, Dogness is well-positioned to navigate these temporary trade fluctuations, return to sustainable growth, and deliver long-term shareholder value." Financial Results for the Half Year Ended December 31, 2025 Revenue decreased by approximately $4.4 million, or 36.2%, from about $12.1 million for the six months ended December 31, 2024 to approximately $7.7 million for the six months ended December 31, 2025. The decrease in revenue was primarily attributable to the impact of United State's tariff policies. The following table breaks down Dogness' revenue by product and service type for the six months ended December 31, 2025 and 2024: ─ Traditional pet products Revenue from traditional pet products increased by approximately $0.7 million, or 14.6%, from approximately $4.7 million for the six months ended December 31, 2024 to approximately $5.3 million for the six months ended December 31, 2025. The increase was mainly driven by increased sales volume for the six months ended December 31, 2025. Among the total revenue increase, $0.5 million was from sales to customers in international markets, and $0.2 million was from sales to customers in China domestic market, primarily due to increased orders from our current customers. ─ Intelligent pet products Revenue from intelligent pet products decreased by approximately $2.8 million, or 62.6%, from around $4.5 million for the six months ended December 31, 2024, to roughly $1.7 million for the same period in 2025. The decrease was mainly driven by a decrease in sales volume and average selling price for the six months ended December 31, 2025, compared to the six months ended December 31, 2024. Among the total revenue decrease, $1.4 million decrease was from sales to customers in international markets and $1.5 million was from sales to customers in China domestic market, primarily due to decreased orders from our current customers. ─ Climbing hooks and others Revenue from climbing hooks and other products decreased by about $2.2 million, or 76.8%, from roughly $2.9 million for the six months ended December 31, 2024, to about $0.7 million for the same period in 2025. The decrease was mainly driven by decreased sales volume and average selling price during the six months ended December 31, 2025, compared to the six months ended December 31, 2024. Among the total revenue decrease, $1.5 million decrease was from sales to customers in international markets and $0.7 million was from sales to customers in China domestic market, primarily due to the decreased orders from our current customers. ─ International vs. Domestic sales Total international sales decreased by about $2.4 million, or 29.8%, from approximately $8.0 million for the six months ended December 31, 2024, to about $5.6 million during the same period in 2025, driven by significant decrease in sales orders, due to the impact of United States's tariff policies. Domestic sales decreased by approximately $2.0 million, or 48.8%, from about $4.1 million for the six months ended December 31, 2024 to about $2.1 million for the six months ended December 31, 2025. The decrease in our domestic market sales was driven by significant decreased sales orders from our main customers, who are also affected by United States's tariff policies, resulting in reduced demand for our products. Cost of revenues decreased by $1.8 million, or 21.0%, from approximately $8.7 million for the six months ended December 31, 2024, to approximately $6.8 million for the six months ended December 31, 2025, due to a significant decrease in sales volume. As a percentage of revenues, the cost of goods sold increased by 17.1 percentage points to 88.8% for the six months ended December 31, 2025, compared to 71.7% for the six months ended December 31, 2024. Gross profit decreased by approximately $2.6 million, or 74.6%, from about $3.4 million for the six months ended December 31, 2024 to about $0.9 million for the six months ended December 31, 2025, primarily attributable to lower sales volume and reduced average selling price for intelligent pet products and climbing hooks and others products. Gross profit margin decreased to 11.2% for the six months ended December 31, 2025 from 28.3% for the six months ended December 31, 2024. Total operating expenses increased by approximately $0.7 million or 13.0%, to about $6.3 million for the six months ended December 31, 2025, compared to around $5.6 million for the same period in 2024. ─ Selling expenses Selling expenses increased by about $0.6 million, or 97.7%, from approximately $0.6 million for the six months ended December 31, 2024, to approximately $1.2 million for the six months ended December 31, 2025. The increase was primarily attributable to the increase in entertainment fees and advertising fees for the six months ended December 31, 2025. Selling expenses were 16.0% and 5.2% of total revenue for the six months ended December 31, 2025, and 2024, respectively. ─ General and Administrative Expenses General and administrative expenses decreased by approximately $0.9 million, or 20.3%, from about $4.3 million for the six months ended December 31, 2024, to roughly $3.4 million for the same period in 2025. The decrease was primarily due to the reduction in office renovation expenses, depreciation expenses and share-based compensation expenses. As a percentage of sales, general and administrative expenses were 44.6% and 35.7% of total revenue for the six months ended December 31, 2025 and 2024, respectively. ─ Research and Development Expenses Research and development expenses decreased by $0.1 million, or 19.8%, from approximately $0.7 million for the six months ended December 31, 2024, to about $0.5 million for the same period in 2025. As a percentage of sales, research and development expenses were 6.9% and 5.5% of total revenue for the six months ended December 31, 2025 and 2024, respectively. The Company expects these expenses to continue to increase as it expands research and development activities to increase the use of environmentally-friendly materials and develop more new high-tech products to meet customer demands. Net loss increased by approximately $3.4 million, or 185.0%, from about $1.8 million for the six months ended December 31, 2024, to approximately $5.2 million for the six months ended December 31, 2025. About Dogness Dogness (International) Corporation was founded in 2003 from the belief that pet dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness is able to simplify pet lifestyles, make them more scientific, and enhance the relationship between pets and pet caregivers. The Company ensures industry-leading quality through its fully integrated vertical supply chain and world-class research and development capabilities, which has resulted in over 200 patents and patents pending. Dogness products reach families worldwide through global chain stores and distributors. For more information, please visit: ir.dogness.com. Forward Looking Statements No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the impact of U.S. tariffs policy on our exports to the United States and related effects on our price competitiveness and overall profitability, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law. For more information please contact: WFS Investor Relations Inc Connie Kang, Partner Email: [email protected] Tel: +86 1381 185 7742 (CN) View original content:https://www.prnewswire.com/news-releases/dogness-reports-financial-results-for-the-six-months-ended-december-31-2025-302731514.html
Related articleQuarter not tagged2025-10-17Dogness Reports Financial Results for Fiscal Year Ended June 30, 2025
PR Newswire
Dogness Reports Financial Results for Fiscal Year Ended June 30, 2025
DONGGUAN, China and PLANO, Texas, Oct. 17, 2025 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its financial results for the fiscal year ended June 30, 2025. Silong Chen, Chairman and Chief Executive Officer of Dogness, commented, "We are glad to announce the robust financial results for fiscal year 2025. Our revenues increased by 39.5% from fiscal year 2025 to approximately $20.7 million, with gross profit up by 60.9% to nearly $5.0 million. The revenue growth has greatly been driven by the significant increase in sales of intelligent pet products and climbing hooks and others, which up by 43.7% and 325.2% respectively from fiscal 2025. Our effective cost efficiency initiatives also contributed to the profitability in fiscal 2025. These results reflect our strong ability to sustain growth momentum while enhancing operational efficiency and sales performance. Although U.S. tariff policies have not yet materially impacted on the Company's operations and financial performance in fiscal 2025, we continue to closely monitor the potential future impact. We seek to diversify our markets, by actively exploring emerging markets to reduce our reliance on any single market, and enhance our presence in China's domestic market. We are also investing in R&D to strengthen our e-commerce and cross-border online business, thereby enhancing our operational resilience and competitiveness." "Despite the increasing industry competition, we remain focused on executing our international growth strategy with continued emphasis on product innovation and expansion into both domestic and international markets. Meanwhile, we will also continuously broaden our customer base and enhance the stickiness of our existing customers in order to maintain sustainable, long-term growth. Looking ahead, we will continue to pursue our international development objectives, enhance product quality, and maintain operational excellence, with the goal of strengthening our overall business performance and long-term corporate value." Financial Results for The Fiscal Year Ended June 30, 2025 Revenues Revenues increased by approximately $5.9 million, or 39.5%, to approximately $20.7 million in fiscal 2025 from approximately $14.8 milli…Read full documentShow less
DONGGUAN, China and PLANO, Texas, Oct. 17, 2025 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its financial results for the fiscal year ended June 30, 2025. Silong Chen, Chairman and Chief Executive Officer of Dogness, commented, "We are glad to announce the robust financial results for fiscal year 2025. Our revenues increased by 39.5% from fiscal year 2025 to approximately $20.7 million, with gross profit up by 60.9% to nearly $5.0 million. The revenue growth has greatly been driven by the significant increase in sales of intelligent pet products and climbing hooks and others, which up by 43.7% and 325.2% respectively from fiscal 2025. Our effective cost efficiency initiatives also contributed to the profitability in fiscal 2025. These results reflect our strong ability to sustain growth momentum while enhancing operational efficiency and sales performance. Although U.S. tariff policies have not yet materially impacted on the Company's operations and financial performance in fiscal 2025, we continue to closely monitor the potential future impact. We seek to diversify our markets, by actively exploring emerging markets to reduce our reliance on any single market, and enhance our presence in China's domestic market. We are also investing in R&D to strengthen our e-commerce and cross-border online business, thereby enhancing our operational resilience and competitiveness." "Despite the increasing industry competition, we remain focused on executing our international growth strategy with continued emphasis on product innovation and expansion into both domestic and international markets. Meanwhile, we will also continuously broaden our customer base and enhance the stickiness of our existing customers in order to maintain sustainable, long-term growth. Looking ahead, we will continue to pursue our international development objectives, enhance product quality, and maintain operational excellence, with the goal of strengthening our overall business performance and long-term corporate value." Financial Results for The Fiscal Year Ended June 30, 2025 Revenues Revenues increased by approximately $5.9 million, or 39.5%, to approximately $20.7 million in fiscal 2025 from approximately $14.8 million in fiscal 2024. The increase in revenue was primarily attributable to an approximately $4.4 million increase in the revenue of climbing hooks and others and an approximately $1.9 million increase in the revenue of intelligent pet products, offset by an approximately $0.4 million decrease in the revenue of traditional pet products. The breakdown of our revenue by products and services categories is as follows: ─ Traditional pet products Revenue from traditional pet products decreased by approximately $0.4 million, or 4.1%, from approximately $9.0 million in fiscal 2024 to approximately $8.6 million in fiscal 2025. The decrease was mainly due to a decrease of $0.02 in average selling price in fiscal 2025 compared to fiscal 2024. Among the total revenue decrease, approximately $0.7 million decrease was from sales in Chinese domestic markets, offset by an increase of approximately $0.3 million in international market. ─ Intelligent pet products Revenue from intelligent pet products increased by approximately $1.9 million, or 43.7%, from approximately $4.4 million in fiscal 2024 to approximately $6.3 million in fiscal 2025. The increase was mainly driven by an increase of 61.7% in sales volume in fiscal 2025 compared to fiscal 2024. Among the total revenue increase, approximately $1.2 million increase was from sales to customers in international markets primarily due to newly acquired customers and approximately $0.7 million was from sales to customers in China domestic market primarily due to increased orders from our current customers. ─ Climbing hooks and others Revenue from climbing hooks and others increased by approximately $4.4 million, or 325.2%, from approximately $1.4 million in fiscal 2024 to approximately $5.8 million in fiscal 2025. The increase was mainly driven by increased sales volume and average selling price in fiscal 2025 compared to fiscal 2024. Among the total revenue increase, approximately $2.1 million increase was from sales to customers in international markets and approximately $2.3 million was from sales to customers in China domestic market, primarily due to the increased orders of the climbing hooks from our customers. ─ Dyeing service The Company earned dyeing services fees of $nil and $0.1 million in fiscal 2025 and 2024, respectively. ─ Sales to related parties Dogness Network Technology Co., Ltd. ("Dogness Network") and Dogness Technology Co., Ltd ("Dogness Technology") were related parties of the Company. Dogness Technology ceased being a related party after December 31, 2023. Sales to Dogness Network and Dogness Technology Co., Ltd totaled $nil and $0.1 million, which accounted for nil and 0.7% of our total revenue in fiscal 2025 and 2024, respectively. Cost of revenue associated with the sales to these two related parties amounted to $nil and $0.1 million in fiscal 2025 and 2024, respectively. ─ International vs. Domestic sales International sales increased by approximately $3.6 million, or 35.4%, from approximately $10.1 million in fiscal 2024 to approximately $13.6 million in fiscal 2025 due to a significant increase in international sales orders. Domestic sales increased by approximately $2.3 million or 48.1%, from approximately $4.8 million in fiscal 2024 to approximately $7.1 million in fiscal 2025. The increase in our domestic market sales is due to a significant increase in intelligent pet products and climbing hooks and others. Cost of revenues Cost of revenues increased by approximately $4.0 million or 33.7%, from approximately $11.7 million in fiscal 2024 to approximately $15.7 million in fiscal 2025, due to a significant increase in sales volume. As a percentage of revenues, the cost of revenues decreased by approximately 3.3 percentage points, decreasing to 75.7% in fiscal 2025 from 79.0% in fiscal 2024. Gross profit Gross profit increased by approximately $1.9 million or 60.9%, from approximately $3.1 million in fiscal 2024 to approximately $5.0 million in fiscal 2025, primarily attributable to the increase in sales volume and improved operational efficiency. Overall gross profit margin was 24.3% in fiscal 2025, an increase of 3.3 percentage points, as compared to 21.0% in fiscal 2024. Expenses Selling expenses ─ Selling expenses increased by approximately $0.2 million, or 16.1%, from approximately $1.1 million in fiscal 2024 to approximately $1.3 million in fiscal 2025. The increase was primarily attributable to the increase of the entertainment fees and the advertising fees in fiscal 2025. As a percentage of sales, our selling expenses were 6.3% and 7.6% of our total revenues in fiscal 2025 and 2024, respectively. ─ General and administrative expenses General and administrative expenses increased by approximately $1.3 million or 16.9% from approximately $7.8 million in fiscal 2024 to approximately $9.2 million in fiscal 2025. The increase was mainly due to the renovation expenses incurred at our new office in Dongguan and increased professional consultant fees, offset by less share-based compensation and an impairment loss on assets. As a percentage of sales, our general and administrative expenses were 44.3% and 52.8% of our total revenues in fiscal 2025 and 2024, respectively. ─ Research and development expenses Research and development expenses increased by approximately $0.5 million or 82.7%, from approximately $0.6 million in fiscal 2024 to approximately $1.1 million in fiscal 2025. As a percentage of sales, research and development expenses were 5.4% and 4.1% of the total revenues for fiscal 2025 and 2024, respectively. Net loss Net loss decreased by approximately $1.0 million or 15.8%, from approximately $6.1 million in fiscal 2024 to approximately $5.1 million in fiscal 2025. About Dogness Dogness (International) Corporation was founded in 2003 from the belief that dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness' technology simplifies pet lifestyles and enhances the relationship between pets and pet caregivers. The Company ensures industry-leading quality through its fully integrated vertical supply chain and world-class research and development capabilities, which has resulted in over 200 patents and patents pending. Dogness products reach families worldwide through global chain stores and distributors. For more information, please visit: ir.dogness.com. Forward Looking Statements No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the impact of U.S. tariffs policy on our exports to the United States and related effects on our price competitiveness and overall profitability, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law. For investor and media inquiries, please contact: WFS Investor Relations Inc Connie Kang, Partner Email: [email protected] Tel: +86 1381 185 7742 (CN) View original content:https://www.prnewswire.com/news-releases/dogness-reports-financial-results-for-fiscal-year-ended-june-30-2025-302587542.html
Related articleQuarter not tagged2025-04-01Dogness Reports Financial Results for the Six Months Ended December 31, 2024
PR Newswire
Dogness Reports Financial Results for the Six Months Ended December 31, 2024
DONGGUAN, China and PLANO, Texas, March 31, 2025 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its financial results for the six months ended December 31, 2024. Mr. Silong Chen, the CEO of the Company, commented: "We delivered robust financial results for the half year ended December 2024, marked by strong revenue growth, increased operational efficiency, and progress toward profitability. Our revenue reached $12.1 million for the six months ended December 2024, an 81.1% increase from the same period in 2023, driven by high demand across all product categories and regions. Meanwhile, our ongoing efforts on cost management and economies of scale have significantly improved operating results. "Looking ahead, Dogness aims to accelerate product innovation, expand its global market presence and drive cost efficiencies. The Company plans to acquire smaller pet product manufacturers in China to strengthen supply chain control and operational efficiencies, thereby increasing market share. With a focus on developing sustainable, high-tech pet products and leveraging strategic partnerships, we anticipate further revenue growth, improved profitability and increased shareholder value." Financial Results for the Half Year Ended December 31, 2024 Revenues increased by approximately $5.4 million, or 81.1%, from about $6.7 million for the year ended December 31, 2023 to approximately $12.1 million for the six months ended December 31, 2024. The increase in revenue was primarily attributable to the strong sales performance in both China's domestic market and international markets, driven by higher demand from existing customers and new customer. The following table breaks down Dogness' revenue by product and service type for the six months ended December 31, 2024 and 2023: ─ Traditional pet products Revenue from traditional pet products increased by approximately $1.1 million, or 29.4%, from approximately $3.6 million for the six months ended December 31, 2023 to approximately $4.7 million for the six months ended December 31, 2024. This growth was driven both higher sales volume and increased average selling prices. Of the revenue growth, $1.0 million came from international sales and $0.1 million…Read full documentShow less
DONGGUAN, China and PLANO, Texas, March 31, 2025 /PRNewswire/ -- Dogness (International) Corporation ("Dogness" or the "Company") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its financial results for the six months ended December 31, 2024. Mr. Silong Chen, the CEO of the Company, commented: "We delivered robust financial results for the half year ended December 2024, marked by strong revenue growth, increased operational efficiency, and progress toward profitability. Our revenue reached $12.1 million for the six months ended December 2024, an 81.1% increase from the same period in 2023, driven by high demand across all product categories and regions. Meanwhile, our ongoing efforts on cost management and economies of scale have significantly improved operating results. "Looking ahead, Dogness aims to accelerate product innovation, expand its global market presence and drive cost efficiencies. The Company plans to acquire smaller pet product manufacturers in China to strengthen supply chain control and operational efficiencies, thereby increasing market share. With a focus on developing sustainable, high-tech pet products and leveraging strategic partnerships, we anticipate further revenue growth, improved profitability and increased shareholder value." Financial Results for the Half Year Ended December 31, 2024 Revenues increased by approximately $5.4 million, or 81.1%, from about $6.7 million for the year ended December 31, 2023 to approximately $12.1 million for the six months ended December 31, 2024. The increase in revenue was primarily attributable to the strong sales performance in both China's domestic market and international markets, driven by higher demand from existing customers and new customer. The following table breaks down Dogness' revenue by product and service type for the six months ended December 31, 2024 and 2023: ─ Traditional pet products Revenue from traditional pet products increased by approximately $1.1 million, or 29.4%, from approximately $3.6 million for the six months ended December 31, 2023 to approximately $4.7 million for the six months ended December 31, 2024. This growth was driven both higher sales volume and increased average selling prices. Of the revenue growth, $1.0 million came from international sales and $0.1 million from the domestic Chinese market, primarily due to expanded order volumes from customers. ─ Intelligent pet products Revenue from intelligent pet products grew by approximately $2.3 million, or 103.5%, from around $2.2 million for the six months ended December 31, 2023, to roughly $4.5 million for the same period in 2024, mainly due to increased sales volume. The revenue increase included $1.2 million from international customers and $1.1 million from domestic Chinese customers, primarily from new and existing orders. ─ Climbing hooks and others Revenue from climbing hooks and other products increased by about $2.1 million, or 277.9%, from roughly $0.8 million for the six months ended December 31, 2023, to about $2.9 million for the same period in 2024. This increase was influenced by higher sales volume and prices. International sales contributed $1.3 million to the revenue increase, while domestic sales accounted for $0.8 million, driven by higher orders. ─ Dyeing service For the six months ended December 31, 2024 and 2023, the Company earned approximately $Nil and $0.1 million, respectively, for dyeing services. ─ International vs. Domestic sales Total international sales rose by about $3.4 million, or 75.9%, from approximately $4.5 million for the six months ended December 31, 2023, to about $8.0 million during the same period in 2024, driven by increased orders across all product types. Domestic sales also saw a significant increase of about $2.0 million, or 92.0%, from around $2.1 million in 2023 to approximately $4.1 million in 2024. In the domestic market, sales of traditional pet products, intelligent pet products, and climbing hooks increased by 16.2%, 109.2%, and 198.5%, respectively, compared to the previous year. Cost of revenues increased by $3.3 million, or 61.6%, from approximately $5.4 million for the six months ended December 31, 2023, to approximately $8.7 million for the six months ended December 31, 2024, due to a significant increase in sales volume. As a percentage of revenues, the cost of goods sold decreased by approximately 8.7 percentage points to 71.7% for the six months ended December 31, 2024, compared to 80.4% for the six months ended December 31, 2023. Gross profit rose by approximately $2.1 million, or 160.7%, from about $1.3 million for the six months ended December 31, 2023, to around $3.4 million for the same period in 2024. This increase resulted from higher sales volume and average selling prices. The overall gross profit margin improved to 28.3%, up 8.7 percentage points from 19.6% in the previous period. Total operating expenses increased by approximately $0.7 million or 14.6%, to about $5.6 million for the six months ended December 31, 2024, compared to around $4.9 million for the same period in 2023. ─ Selling expenses Selling expenses increased by about $0.1 million, or 18.0%, from approximately $0.5 million for the six months ended December 31, 2023, to approximately $0.6 million for the six months ended December 31, 2024. This rise was driven by an increase in marketing research activities. Selling expenses accounted for 5.2% of total revenues in 2024, compared to 7.9% in 2023. ─ General and Administrative Expenses General and administrative expenses rose by approximately $0.4 million, or 11.3%, from about $3.9 million for the six months ended December 31, 2023, to roughly $4.3 million for the same period in 2024. This increase was primarily attributable to office decoration costs at our new Dongguan facility. As a percentage of sales, these expenses decreased to 35.7% in 2024 from 58.0% in 2023. ─ Research and Development Expenses Research and development expenses increased by $0.2 million, or 37.0%, from approximately $0.5 million for the six months ended December 31, 2023, to about $0.7 million for the same period in 2024. These expenses were 5.5% of total revenues in 2024, down from 7.3% in 2023. We anticipate continued growth in research and development as we expand our efforts to use environmentally friendly materials and develop new high-tech products to meet customer demand. Net loss decreased by approximately $1.4 million, or 43.2%, from about $3.2 million for the six months ended December 31, 2023, to approximately $1.8 million for the six months ended December 31, 2024, as a result of the foregoing. About Dogness Dogness (International) Corporation was founded in 2003 from the belief that dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness' technology simplifies pet lifestyles and enhances the relationship between pets and pet caregivers. The Company ensures industry-leading quality through its fully integrated vertical supply chain and world-class research and development capabilities, which has resulted in over 200 patents and patents pending. Dogness products reach families worldwide through global chain stores and distributors. For more information, please visit: ir.dogness.com. Forward Looking Statements No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, trade policies affecting our business including tariffs on our products, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law. For investor and media inquiries, please contact:Wealth Financial Services LLCConnie Kang, PartnerEmail: [email protected] Tel: +86 1381 185 7742 (CN) View original content to download multimedia:https://www.prnewswire.com/news-releases/dogness-reports-financial-results-for-the-six-months-ended-december-31-2024-302415918.html SOURCE Dogness (International) Corporation

