DIH Announces Fiscal 2025 First Quarter Financial Results
DIH Holding US, Inc. (NASDAQ:DHAI) announced financial results for Q1 FY2025 ended June 30, 2024. Key highlights include:
- Revenue of $16.2 million, up 24% year-over-year
- Device revenue of $12.3 million (+18%) and service revenue of $3.5 million (+49%)
- 54% revenue growth in both EMEA and Americas
- Gross Margin improved to 53.5%, up 12 percentage points
- Net loss reduced to $0.6 million, a $2.3 million improvement
DIH reiterated its FY2025 revenue guidance of $74-$77 million, representing 15-20% growth. The company reported strong performance in strategic markets and improved operational efficiency. Cash and cash equivalents totaled $2.7 million as of June 30, 2024.
DIH Holding US, Inc. (NASDAQ:DHAI) ha annunciato i risultati finanziari per il primo trimestre dell'anno fiscale 2025 terminato il 30 giugno 2024. Punti salienti includono:
- Ricavi di 16,2 milioni di dollari, in aumento del 24% rispetto all'anno precedente
- Ricavi da dispositivi di 12,3 milioni di dollari (+18%) e ricavi da servizi di 3,5 milioni di dollari (+49%)
- Crescita dei ricavi del 54% sia nella regione EMEA che nelle Americhe
- Margine lordo migliorato al 53,5%, con un aumento di 12 punti percentuali
- Perdita netta ridotta a 0,6 milioni di dollari, un miglioramento di 2,3 milioni di dollari
DIH ha confermato la propria guida sui ricavi per l'anno fiscale 2025, compresi tra 74 e 77 milioni di dollari, rappresentando una crescita del 15-20%. L'azienda ha riportato prestazioni solide nei mercati strategici e un miglioramento dell'efficienza operativa. Le disponibilità liquide e equivalenti ammontavano a 2,7 milioni di dollari al 30 giugno 2024.
DIH Holding US, Inc. (NASDAQ:DHAI) anunció los resultados financieros del primer trimestre del año fiscal 2025 que concluyó el 30 de junio de 2024. Los puntos clave incluyen:
- Ingresos de 16.2 millones de dólares, un aumento del 24% interanual
- Ingresos de dispositivos de 12.3 millones de dólares (+18%) e ingresos por servicios de 3.5 millones de dólares (+49%)
- Crecimiento de ingresos del 54% tanto en EMEA como en las Américas
- Margen bruto mejorado al 53.5%, un aumento de 12 puntos porcentuales
- Pérdida neta reducida a 0.6 millones de dólares, una mejora de 2.3 millones de dólares
DIH reiteró su guía de ingresos para el año fiscal 2025 de 74 a 77 millones de dólares, lo que representa un crecimiento del 15-20%. La compañía reportó un sólido desempeño en mercados estratégicos y mejoró la eficiencia operativa. El efectivo y equivalentes de efectivo totalizaron 2.7 millones de dólares al 30 de junio de 2024.
DIH Holding US, Inc. (NASDAQ:DHAI)은 2024년 6월 30일 종료된 2025 회계연도 1분기 재무 결과를 발표했습니다. 주요 하이라이트는 다음과 같습니다:
- 연매출 1620만 달러, 작년 대비 24% 증가
- 장치 매출 1230만 달러(+18%) 및 서비스 매출 350만 달러(+49%)
- EMEA 및 아메리카 지역에서 각각 54%의 매출 성장
- 총 마진은 53.5%로 개선되어 12%포인트 상승
- 순손실은 60만 달러로 감소, 230만 달러 개선
DIH는 2025 회계연도 매출 가이던스를 7400만에서 7700만 달러로 유지하며, 이는 15-20% 성장을 나타냅니다. 회사는 전략적 시장에서 강력한 성과를 보고했으며 운영 효율성을 개선했습니다. 2024년 6월 30일 기준 현금 및 현금성 자산은 270만 달러였습니다.
DIH Holding US, Inc. (NASDAQ:DHAI) a annoncé les résultats financiers pour le premier trimestre de l'exercice fiscal 2025 se terminant le 30 juin 2024. Les points clés incluent :
- Chiffre d'affaires de 16,2 millions de dollars, en hausse de 24 % par rapport à l'année précédente
- Chiffre d'affaires des dispositifs de 12,3 millions de dollars (+18 %) et chiffre d'affaires des services de 3,5 millions de dollars (+49 %)
- Croissance du chiffre d'affaires de 54 % dans les régions EMEA et Amériques
- Marge brute améliorée à 53,5 %, avec une augmentation de 12 points de pourcentage
- Perte nette réduite à 0,6 million de dollars, une amélioration de 2,3 millions de dollars
DIH a réitéré ses prévisions de revenus pour l'exercice 2025 entre 74 et 77 millions de dollars, ce qui représente une croissance de 15 à 20 %. L'entreprise a rapporté de solides performances sur les marchés stratégiques et une amélioration de l'efficacité opérationnelle. Les liquidités et équivalents de liquidités s'élevaient à 2,7 millions de dollars au 30 juin 2024.
DIH Holding US, Inc. (NASDAQ:DHAI) gab die finanziellen Ergebnisse für das erste Quartal des Geschäftsjahres 2025 bekannt, das am 30. Juni 2024 endete. Wichtige Highlights sind:
- Umsatz von 16,2 Millionen Dollar, ein Anstieg von 24% im Jahresvergleich
- Geräteumsatz von 12,3 Millionen Dollar (+18%) und Dienstleistungsumsatz von 3,5 Millionen Dollar (+49%)
- Umsatzwachstum von 54% in den Regionen EMEA und Amerika
- Bruttomarge verbesserte sich auf 53,5%, ein Anstieg um 12 Prozentpunkte
- Nettverlust verringerte sich auf 0,6 Millionen Dollar, eine Verbesserung um 2,3 Millionen Dollar
DIH bestätigte seine Umsatzprognose für das Geschäftsjahr 2025 von 74 bis 77 Millionen Dollar, was ein Wachstum von 15-20% darstellt. Das Unternehmen berichtete von starken Leistungen in strategischen Märkten und verbesserter Betriebseffizienz. Die liquiden Mittel beliefen sich zum 30. Juni 2024 auf 2,7 Millionen Dollar.
- Revenue increased by 24.1% to $16.2 million
- Device revenue grew by 17.6% to $12.3 million
- Service revenue increased by 49.1% to $3.5 million
- EMEA and Americas markets each achieved 54% growth
- Gross profit increased by 60.6%
- Gross margin improved by 12 percentage points to 53.5%
- Net loss reduced by $2.3 million to $0.6 million
- Company reaffirmed FY2025 revenue guidance of $74-$77 million (15-20% growth)
- Net loss of $0.6 million for the quarter
- Selling, general and administrative expenses increased by 48.2% to $8.7 million
- Research and development costs increased by 14.3% to $1.6 million
- Decrease in sales in Asia region
- Cash and cash equivalents decreased to $2.7 million
DIH's Q1 FY2025 results show promising growth and improved operational efficiency. Revenue increased by
The reduction in net loss from
DIH's focus on advanced robotic devices for physical rehabilitation is paying off, as evidenced by the strong growth in device and service revenues. The
The company's success in EMEA and the Americas suggests effective market penetration strategies and growing acceptance of robotic rehabilitation solutions in these regions. However, the decrease in Asian sales warrants attention and may require region-specific strategies. The continued investment in R&D (
NORWELL, Mass., Aug. 19, 2024 (GLOBE NEWSWIRE) -- DIH Holding US, Inc. ("DIH")(NASDAQ:DHAI), a global provider of advanced robotic devices used in physical rehabilitation, which incorporate visual stimulation in an interactive manner to enable clinical research and intensive functional rehabilitation and training in patients with walking impairments, reduced balance and/or impaired arm and hand functions, today announced financial results for the quarter ended June 30, 2024, which is the first quarter of fiscal 2025.
Recent Highlights
- Revenue of
$16.2 million for the quarter ended June 30, 2024, representing growth of24% over the prior year period - Device revenue of
$12.3 million and service revenue of$3.5 million for the quarter ended June 30, 2024, representing growth of18% and49% , respectively over the prior year period - Revenue growth in both Europe, Middle East and Africa (EMEA) and the Americas of
54% over the prior year period - Gross Margin of
53.5% , representing a 12 percentage point improvement over the prior year period - Net loss of
$0.6 million , representing improvement of$2.3 million over the prior year period - DIH reiterates its expected full year 2025 revenue range of
$74 million to$77 million , representing growth of approximately15% to20% over the full year 2024
“We are very pleased with the Company’s performance in the first quarter of Fiscal Year 2025, showing significant progress over the same quarter last year,” said Jason Chen, Chairman and CEO of DIH. “I am excited that two of our major strategic markets, EMEA and the Americas, each achieved growth of
Financial Results for the First Fiscal Quarter Ended June 30, 2024
Revenue for the three months ended June 30, 2024 increased by
The impact due to foreign currency translation resulted in a decrease of approximately
Gross profit for the first fiscal quarter ended June 30, 2024, was
Selling, general and administrative expense for the three months ended June 30, 2024 increased by
Research and development costs for the three months ended June 30, 2024 increased by
Cash and cash equivalents on June 30, 2024 totaled
Fiscal Year 2025 Outlook
The Company continues to expect gross revenue for fiscal year 2025 to range between
About DIH Holding US, Inc.
DIH stands for the vision to “Deliver Inspiration & Health” to improve the daily lives of millions of people with disabilities and functional impairments through providing devices and solutions enabling intensive rehabilitation. DIH is a global provider of advanced robotic devices used in physical rehabilitation, which incorporate visual stimulation in an interactive manner to enable clinical research and intensive functional rehabilitation and training in patients with walking impairments, reduced balance and/or impaired arm and hand functions. Built through the mergers of global-leading niche technology providers, DIH is a transformative rehabilitation solutions provider and consolidator of a largely fragmented and manual-labor-driven industry.
Caution Regarding Forward-Looking Statements
This press release contains certain statements which are not historical facts, which are forward-looking statements within the meaning of the federal securities laws, for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These forward-looking statements include certain statements made with respect to the business combination, the services offered by DIH and the markets in which it operates, and DIH’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions provided for illustrative purposes only, and projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results. These risks and uncertainties include, but are not limited to: general economic, political and business conditions; the ability of DIH to achieve its projected revenue, the failure of DIH realize the anticipated benefits of the recently-completed business combination and access to sources of additional debt or equity capital if needed. While DIH may elect to update these forward-looking statements at some point in the future, DIH specifically disclaims any obligation to do so.
Investor Contact
Greg Chodaczek
332-895-3230
Investor.relations@dih.com
DIH HOLDING US, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data, unaudited) | |||||||
As of June 30, 2024 | As of March 31, 2024 | ||||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 2,749 | $ | 3,225 | |||
Accounts receivable, net of allowances of | 5,690 | 5,197 | |||||
Inventories, net | 9,014 | 7,830 | |||||
Due from related party | 5,728 | 5,688 | |||||
Other current assets | 6,194 | 5,116 | |||||
Total current assets | 29,375 | 27,056 | |||||
Property, and equipment, net | 664 | 530 | |||||
Capitalized software, net | 2,052 | 2,131 | |||||
Other intangible assets, net | 380 | 380 | |||||
Operating lease, right-of-use assets, net | 4,388 | 4,466 | |||||
Other tax assets | 417 | 267 | |||||
Other assets | 933 | 905 | |||||
Total assets | $ | 38,209 | $ | 35,735 | |||
Liabilities and Deficit | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 5,368 | $ | 4,305 | |||
Employee compensation | 3,991 | 2,664 | |||||
Due to related party | 9,790 | 10,192 | |||||
Current portion of deferred revenue | 6,350 | 5,211 | |||||
Manufacturing warranty obligation | 549 | 513 | |||||
Current portion of long-term operating lease | 1,509 | 1,572 | |||||
Current maturities of convertible debt | 1,461 | — | |||||
Advance payments from customers | 9,272 | 10,562 | |||||
Accrued expenses and other current liabilities | 9,950 | 9,935 | |||||
Total current liabilities | 48,240 | 44,954 | |||||
Convertible debt, net of current maturities | 1,177 | — | |||||
Notes payable - related party | 10,722 | 11,457 | |||||
Non-current deferred revenues | 4,747 | 4,670 | |||||
Long-term operating lease | 2,925 | 2,917 | |||||
Deferred tax liabilities | 89 | 112 | |||||
Other non-current liabilities | 4,304 | 4,171 | |||||
Total liabilities | $ | 72,204 | $ | 68,281 | |||
Commitments and contingencies | |||||||
Deficit: | |||||||
Preferred stock, | — | — | |||||
Common stock, | 3 | 3 | |||||
Additional paid-in-capital | 3,685 | 2,613 | |||||
Accumulated deficit | (35,826 | ) | (35,212 | ) | |||
Accumulated other comprehensive income (loss) | (1,857 | ) | 50 | ||||
Total deficit | $ | (33,995 | ) | $ | (32,546 | ) | |
Total liabilities and deficit | $ | 38,209 | $ | 35,735 | |||
DIH HOLDING US, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data, unaudited) | |||||||
For the Three Months Ended June 30, | |||||||
2024 | 2023 | ||||||
Revenue | $ | 16,187 | $ | 13,045 | |||
Cost of sales | 7,521 | 7,648 | |||||
Gross profit | 8,666 | 5,397 | |||||
Operating expenses: | |||||||
Selling, general, and administrative expense | 8,676 | 5,837 | |||||
Research and development | 1,644 | 1,438 | |||||
Total operating expenses | 10,320 | 7,275 | |||||
Operating loss | (1,654 | ) | (1,878 | ) | |||
Other income (expense): | |||||||
Interest income (expense) | (135 | ) | (120 | ) | |||
Other income (expense), net | 1,898 | (689 | ) | ||||
Total other income (expense) | 1,763 | (809 | ) | ||||
Income (loss) before income taxes | 109 | (2,687 | ) | ||||
Income tax expense | 723 | 226 | |||||
Net loss | $ | (614 | ) | $ | (2,913 | ) | |
Net loss per share, basic and diluted | $ | (0.02 | ) | $ | (0.12 | ) | |
Weighted average common shares outstanding, basic and diluted | 34,545 | 25,000 | |||||
DIH HOLDING US, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in thousands, unaudited) | |||||||
For the Three Months Ended June 30, | |||||||
2024 | 2023 | ||||||
Net loss | $ | (614 | ) | $ | (2,913 | ) | |
Other comprehensive (loss) income, net of tax | |||||||
Foreign currency translation adjustments, net of tax of | (1,388 | ) | 841 | ||||
Pension liability adjustments, net of tax of | (291 | ) | (420 | ) | |||
Other comprehensive (loss) income | (1,679 | ) | 421 | ||||
Comprehensive loss | $ | (2,293 | ) | $ | (2,492 | ) | |
DIH HOLDING US, INC. AND SUBSIDIARIES INTERIM CONDENSED COMBINED STATEMENTS OF CHANGES IN EQUITY (DEFICIT) (in thousands, unaudited) | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Shares(1) | Amount | Additional Paid-In Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Total Equity (Deficit) | |||||||||||||
Balance, March 31, 2023 | 25,000,000 | $ | 2 | $ | (1,898 | ) | $ | (26,769 | ) | $ | (289 | ) | $ | (28,954 | ) | |||
Net loss | — | — | — | (2,913 | ) | — | (2,913 | ) | ||||||||||
Other comprehensive loss, net of tax | — | — | — | — | 421 | 421 | ||||||||||||
Balance, June 30, 2023 | 25,000,000 | $ | 2 | $ | (1,898 | ) | $ | (29,682 | ) | $ | 132 | $ | (31,446 | ) | ||||
Shares | Amount | Additional Paid-In Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Total Equity (Deficit) | |||||||||||||
Balance, March 31, 2024 | 34,544,935 | $ | 3 | $ | 2,613 | $ | (35,212 | ) | $ | 50 | $ | (32,546 | ) | |||||
Net loss | — | — | — | (614 | ) | — | (614 | ) | ||||||||||
Transaction relates to reverse recapitalization | — | — | 710 | — | — | 710 | ||||||||||||
Issuance of warrants | — | — | 362 | — | — | 362 | ||||||||||||
Other comprehensive income, net of tax | — | — | — | — | (1,907 | ) | (1,907 | ) | ||||||||||
Balance, June 30, 2024 | 34,544,935 | $ | 3 | $ | 3,685 | $ | (35,826 | ) | $ | (1,857 | ) | $ | (33,995 | ) | ||||
DIH HOLDING US, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands, unaudited) | |||||||
For the Three Months Ended June 30, | |||||||
2024 | 2023 | ||||||
Cash flows from operating activities: | |||||||
Net loss | $ | (614 | ) | $ | (2,913 | ) | |
Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||
Depreciation and amortization | 91 | 79 | |||||
Provision for credit losses | (36 | ) | (432 | ) | |||
Allowance for inventory obsolescence | (13 | ) | 693 | ||||
Pension contributions | (150 | ) | (150 | ) | |||
Pension expense | 77 | 66 | |||||
Foreign exchange (gain) loss | (1,899 | ) | 689 | ||||
Noncash lease expense | 422 | 375 | |||||
Noncash interest expense | — | 7 | |||||
Deferred and other noncash income tax (income) expense | (166 | ) | 4 | ||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable | (489 | ) | 705 | ||||
Inventories | (1,468 | ) | (1,332 | ) | |||
Due from related parties | (108 | ) | 1,522 | ||||
Due to related parties | (584 | ) | (649 | ) | |||
Other assets | (872 | ) | (398 | ) | |||
Operating lease liabilities | (425 | ) | (518 | ) | |||
Accounts payable | 1,508 | 36 | |||||
Employee compensation | 1,388 | (160 | ) | ||||
Other liabilities | — | 189 | |||||
Deferred revenue | 1,411 | 209 | |||||
Manufacturing warranty obligation | 50 | 71 | |||||
Advance payments from customers | (1,136 | ) | 2,229 | ||||
Accrued expense and other current liabilities | 1,003 | (797 | ) | ||||
Net cash used in operating activities | (2,010 | ) | (475 | ) | |||
Cash flows from investing activities: | |||||||
Purchases of property and equipment | (235 | ) | (15 | ) | |||
Net cash used in investing activities | (235 | ) | (15 | ) | |||
Cash flows from financing activities: | |||||||
Proceeds from issuance of convertible debt, net of issuance costs | 2,509 | — | |||||
Payments on related party notes payable | (735 | ) | (1,936 | ) | |||
Net cash provided by (used in) financing activities | 1,774 | (1,936 | ) | ||||
Effect of currency translation on cash and cash equivalents | (5 | ) | 13 | ||||
Net increase in cash, and cash equivalents, and restricted cash | (476 | ) | (2,413 | ) | |||
Cash, and cash equivalents - beginning of period | 3,225 | 3,175 | |||||
Cash, and cash equivalents - end of period | $ | 2,749 | $ | 762 | |||
Supplemental disclosure of cash flow information: | |||||||
Interest paid | $ | 135 | $ | 113 | |||
Income tax paid | $ | — | $ | — | |||
Supplemental disclosure of non-cash investing and financing activity: | |||||||
Accounts payable settled upon reverse recapitalization | $ | 710 | $ | — | |||
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