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Dogness (International) Corporation (NASDAQ: DOGZ) is a globally recognized developer and manufacturer of fashionable and high-quality pet products for both dogs and cats. Established in 2003 and headquartered in Dongguan, China, the company offers a diverse range of products including pet leashes, collars, harnesses, retractable leashes, and various intelligent pet products designed for convenience and pet well-being.
The company's intelligent pet products, such as app-controlled feeders, water fountains, and smart pet toys, are at the forefront of pet care innovation. Dogness also manufactures climbing hooks, pet shampoos, and other miscellaneous pet accessories. Their products are sold worldwide through a network of wholesalers and retailers, reaching markets in Mainland China, the United States, Europe, Australia, Canada, Japan, and more.
Dogness has a vertically integrated supply chain and invests significantly in research and development, holding over 200 patents and patents pending. Despite fierce competition and economic challenges, the company remains focused on expanding its market presence by developing new high-tech products and enhancing production efficiency. Recently, Dogness has implemented cost-saving measures and is exploring mergers and acquisitions to strengthen its industrial chain and improve profitability.
For the fiscal year ending June 30, 2023, Dogness reported a revenue decrease of approximately $9.5 million, or 35.1%, primarily due to reduced sales in both domestic and international markets. The company is addressing these challenges by leveraging online sales channels and targeting younger consumers with innovative smart pet products.
On November 6, 2023, Dogness announced a 1-for-20 share consolidation to comply with Nasdaq Marketplace Rule 5550(a)(2). This strategic move aims to maintain their Nasdaq listing by adjusting the authorized shares and par value. Moving forward, Dogness is committed to enhancing its brand identity, improving profit margins, and ensuring long-term growth through strategic initiatives.
Dogness (International) Corporation (NASDAQ: DOGZ) announced the closing of an institutional offering, raising approximately $12 million in gross proceeds. The offering included 3,636,365 Class A common shares and warrants for an additional 2,181,819 Class A common shares. The proceeds will be utilized for working capital and general business purposes, supporting the company's growth in traditional and smart tech pet products. The offering was conducted under an effective shelf registration statement with the SEC, declared effective on February 13, 2019.
Dogness (International) Corporation (NASDAQ: DOGZ) has announced a registered direct offering of approximately $12 million in Class A common shares and warrants at a unit price of $3.30. The offering will consist of 3,636,365 common shares and 2,181,819 warrants, which are exercisable at $4.20 per share for a term of 36 months. The net proceeds will be allocated for general corporate and working capital purposes. The placement is expected to close on or about June 3, 2022.
Dogness (NASDAQ: DOGZ) reported a 48.4% revenue increase year-over-year (YoY) to $18.2 million for the six months ended December 31, 2021. Sales of intelligent pet products surged by 192.6%, comprising 54.5% of total revenue. Gross profit expanded by 47.8% to $7.1 million, with a gross profit margin of 38.9%. Comprehensive income rose to $2.2 million, equating to $0.04 per share. The company also increased cash and short-term investments to $7.1 million.
Dogness (NASDAQ: DOGZ), based in Plano, Texas, emphasizes the importance of smart tracking for pet safety, coinciding with National Pet ID Week. Their Smart GPS Pet Trackers provide real-time positioning, long battery life, and user-friendly functionality. Statistics reveal that 10 million pets go missing annually in the U.S., highlighting the need for identification. CEO Silong Chen stressed the effectiveness of their non-intrusive tracking devices, which offer comprehensive monitoring and activity management. The devices, supported by a robust sales platform, aim to enhance pet safety and owner security.
On April 22, 2022, Dogness (International) Corporation (NASDAQ: DOGZ) announced that Argus Research updated its Equity Research Report coverage on the company. Highlights from Argus include a return to profitability in fiscal 2021, with a 27% revenue growth and a significant 80% increase in sales of smart pet products. The gross margin also improved to 37.6%. Dogness has expanded its product availability through partnerships with major retailers and raised about $10 million in equity offerings, positioning itself favorably for future growth.
Dogness (International) Corporation (NASDAQ: DOGZ) announced the launch of 25 new products, with nearly 20 already on sale, during a recent event in Plano, Texas on March 21, 2022. The launch enhances its Intelligent product series, aimed at improving pet owner experiences. The new offerings include various Smart pet products and innovative features like a Smart GPS Tracker with 4G/5G support. CEO Silong Chen emphasized the company's commitment to R&D, boasting over 300 patents, and aims to leverage its market position for growth in 2022.
Dogness (International) Corporation (NASDAQ: DOGZ) announced the closing of a $5.66 million offering, selling 1,966,251 common shares at $2.88 each. The proceeds will be used for working capital and general business purposes, focusing on expanding their portfolio of traditional and smart tech pet products. FT Global Capital acted as the exclusive placement agent. This transaction was made through a prospectus supplement filed with the SEC, which is available on their website.
Dogness (International) Corporation (NASDAQ: DOGZ) announced a registered direct offering of 1,966,251 Class A common shares at $2.88 per share, raising approximately $5.66 million before expenses. The net proceeds will be allocated for general corporate and working capital purposes. Closing is expected around February 24, 2022, pending customary conditions. This offering utilizes the Company’s effective shelf registration statement with the SEC, originally filed on February 13, 2019. FT Global Capital, Inc. is the exclusive placement agent for this transaction.
Dogness (International) Corporation (NASDAQ: DOGZ) announced that a major warehouse retailer has expanded its distribution of Dogness products into two new regions in the U.S. This move includes a broader product line, following a successful rollout of smart pet products in 2021.
CEO Silong Chen emphasized long-term relationships with customers and the competitive edge gained through logistics and supply chain investments. Dogness has a diverse customer base, including Petco, Walmart, and Amazon, and boasts over 200 patents for their innovative pet products.
Dogness (International) Corporation (NASDAQ: DOGZ) announced an expansion of its Smart Pet Products at a top pet retailer, enhancing its existing supplier relationship. CEO Silong Chen expressed optimism for 2022, highlighting the company's strong performance in the intelligent pet-tech and traditional pet categories. Dogness maintains a diversified sales platform with major customers including Petco, Walmart, and Amazon. The company is recognized for its quality through a fully integrated supply chain and extensive R&D, holding over 200 patents.
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