On April 29, 2025, HUHUTECH International Group Inc. announced its financial results for the fiscal year ended December 31, 2024. The company reported total revenue of $18.1 million, an increase of 8.5% from $16.7 million in fiscal year 2023. This growth was driven by increases in product sales and system integration projects, particularly in Japan.
Gross profit rose by 21.1% to $6.6 million in fiscal year 2024, up from $5.4 million in the prior year, with gross margin improving to 36.1% from 32.3%. However, the company reported a net loss of $1.9 million for fiscal year 2024, a significant shift from a net income of $2.3 million in fiscal year 2023.
Basic and diluted loss per share were $0.10 in fiscal year 2024, compared to earnings per share of $0.47 in fiscal year 2023. Total operating expenses surged by 149.6% to $8.1 million. Net cash used in operating activities was $3.0 million in fiscal year 2024, contrasting with net cash provided of $3.0 million in fiscal year 2023.
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