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E-Home Household Service Holdings Limited Announces Annual Report Ended June 30, 2024

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E-Home Household Service Holdings (Nasdaq: EJH) reported its annual financial results for the year ended June 30, 2024. The company achieved total revenues of $50.7 million, with cash and cash equivalents of $100.7 million, up from $71.3 million in the previous year. Housekeeping, Installation, Maintenance, and Senior care services generated $49.2 million in revenue. The company reported gross profits of $12.7 million and operating expenses of $28.8 million, primarily due to increased investment in advertising and platform building. Additional revenue streams included pharmaceutical product sales ($219,159) and educational consulting services ($1.3 million).

E-Home Household Service Holdings (Nasdaq: EJH) ha riportato i risultati finanziari annuali per l'anno conclusosi il 30 giugno 2024. L'azienda ha registrato ricavi totali di 50,7 milioni di dollari, con disponibilità liquide e equivalenti di 100,7 milioni di dollari, in aumento rispetto ai 71,3 milioni di dollari dell'anno precedente. I servizi di pulizia, installazione, manutenzione e assistenza agli anziani hanno generato 49,2 milioni di dollari di fatturato. L'azienda ha dichiarato profitti lordi di 12,7 milioni di dollari e spese operative di 28,8 milioni di dollari, principalmente a causa dell'aumento degli investimenti in pubblicità e costruzione della piattaforma. Ulteriori flussi di entrate hanno incluso le vendite di prodotti farmaceutici (219.159 dollari) e servizi di consulenza educativa (1,3 milioni di dollari).

E-Home Household Service Holdings (Nasdaq: EJH) reportó sus resultados financieros anuales para el año finalizado el 30 de junio de 2024. La empresa logró unos ingresos totales de 50,7 millones de dólares, con efectivo y equivalentes de efectivo de 100,7 millones de dólares, en comparación con los 71,3 millones de dólares del año anterior. Los servicios de limpieza, instalación, mantenimiento y cuidado de personas mayores generaron 49,2 millones de dólares en ingresos. La compañía reportó ganancias brutas de 12,7 millones de dólares y gastos operativos de 28,8 millones de dólares, principalmente debido al aumento de la inversión en publicidad y en la construcción de la plataforma. Los ingresos adicionales incluyeron ventas de productos farmacéuticos (219.159 dólares) y servicios de consultoría educativa (1,3 millones de dólares).

E-Home Household Service Holdings (Nasdaq: EJH)는 2024년 6월 30일로 종료된 연도의 연간 재무 결과를 보고했습니다. 회사는 총 수익 5,070만 달러를 달성했으며, 현금 및 현금성 자산은 1억 7백만 달러로, 전년의 7,130만 달러에서 증가했습니다. 가사, 설치, 유지보수 및 노인 돌봄 서비스는 4,920만 달러의 수익을 발생시켰습니다. 회사는 총 이익 1,270만 달러와 운영 비용 2,880만 달러를 보고했으며, 이는 주로 광고 및 플랫폼 구축에 대한 투자 증가로 인한 것입니다. 추가 수익원으로는 제약 제품 판매(219,159달러)와 교육 컨설팅 서비스(130만 달러)가 포함되었습니다.

E-Home Household Service Holdings (Nasdaq: EJH) a rapporté ses résultats financiers annuels pour l'exercice clos le 30 juin 2024. L'entreprise a réalisé un chiffre d'affaires total de 50,7 millions de dollars, avec des liquidités et équivalents de 100,7 millions de dollars, en hausse par rapport à 71,3 millions de dollars l'année précédente. Les services de ménage, d'installation, de maintenance et de soins aux personnes âgées ont généré 49,2 millions de dollars de revenus. L'entreprise a déclaré des bénéfices bruts de 12,7 millions de dollars et des frais d'exploitation de 28,8 millions de dollars, principalement en raison d'un investissement accru dans la publicité et le développement de la plateforme. D'autres sources de revenus comprenaient les ventes de produits pharmaceutiques (219.159 dollars) et les services de conseil éducatif (1,3 million de dollars).

E-Home Household Service Holdings (Nasdaq: EJH) hat seine jährlichen Finanzresultate für das am 30. Juni 2024 endende Geschäftsjahr veröffentlicht. Das Unternehmen erzielte Gesamteinnahmen von 50,7 Millionen Dollar, mit liquiden Mitteln und liquiden Mitteln von 100,7 Millionen Dollar, was einem Anstieg von 71,3 Millionen Dollar im Vorjahr entspricht. Die Dienstleistungen im Haushalt, Installation, Wartung und Seniorenbetreuung generierten Einnahmen von 49,2 Millionen Dollar. Das Unternehmen berichtete von einem Bruttogewinn von 12,7 Millionen Dollar und Betriebskosten von 28,8 Millionen Dollar, was hauptsächlich auf erhöhte Investitionen in Werbung und Plattformaufbau zurückzuführen ist. Zusätzliche Einnahmequellen umfassten den Verkauf von pharmazeutischen Produkten (219.159 Dollar) und Bildungsberatungsdienstleistungen (1,3 Millionen Dollar).

Positive
  • Cash and cash equivalents increased to $100.7M from $71.3M year-over-year
  • Substantial revenue of $50.7M for the fiscal year
  • Core services (Housekeeping, Installation, Maintenance, Senior care) generated $49.2M
Negative
  • Operating expenses of $28.8M exceeded gross profits of $12.7M, indicating operational losses
  • Pharmaceutical product sales contributed only $219,159, showing minimal diversification success

Insights

The financial results reveal concerning metrics despite revenue of $50.7M. Operating expenses of $28.8M against gross profits of $12.7M indicate significant operational inefficiencies, resulting in substantial losses. While cash position improved to $100.7M from $71.3M year-over-year, the high operating costs relative to revenue suggest unsustainable business operations.

The revenue breakdown shows heavy reliance on traditional services, with 97% coming from housekeeping, installation, maintenance and senior care. The minimal contribution from pharmaceutical sales ($219K) and educational consulting ($1.3M) indicates success in diversification efforts. The planned AI integration may help reduce costs, but current financials point to fundamental profitability challenges that need immediate addressing.

FUZHOU, China, Oct. 30, 2024 /PRNewswire/ -- E-Home Household Service Holdings Limited (Nasdaq: EJH) (the "Company" or "E-Home"), a provider of integrated household services in China, today announced its annual report ended June 30, 2024.

Financial Highlight

  • Total revenues were $50,685,314 for the year ended June 30, 2024.
  • Cash and cash equivalents were $100,665,223 and $71,252,380 as of June 30, 2024 and June 30, 2023, respectively.
  • Gross profits were $12,700,596.
  • Total operating expenses were $28,786,296. Due to the company's increased investment in advertising and platform building during the year, resulting in operating expenses of $28,786,296.
  • Revenues from Housekeeping services, Installation and Maintenance services and Senior care services amounted to $49,209,110 for the year ended June 30, 2024.
  • Sales of pharmaceutical products, which contributed $219,159 for the year ended June 30, 2024.
  • Educational consulting services, with revenue of $1,257,045.

Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: "Over the past year, China's domestic service business has grown despite the economic downturn. Nevertheless, competition is becoming more intense due to the increase in the number of practitioners.  However, we remain confident in our ability to improve profitability in the future as our fundamentals remain strong and we have expansionary strategic plans for our services and we plan to increase E-Home's competitiveness in the market by 2025 through the introduction of AI Home Trainer."

About E-Home Household Service Holdings Limited

Established in 2014, E-Home Household Service Holdings Limited is a Nasdaq-listed household service company based in Fuzhou, China.

The company is mainly involved in: 1. Home appliances, smart home installation, maintenance; 2. Housekeeping, nannies, maternity matron and cleaning services; 3. Internet aging + home care; 4. Units of public places cleaning. After years of development, E-Home has formed two main business channels, ToB and ToC, with two important subsidiaries.

Two main channel: 1. The ToC business to nanny, maternity matron, home care, cleaning, repair, maintenance of family integrated services. 2. The ToB business to public cleaning. Two subsidiaries: 1. Zhongrun Pharmaceutical, integrating pharmaceutical warehousing, distribution, wholesaling, retailing, and online sales; 2. Chuangying: presidential training, internal training, corporate consulting and counseling, and policy counseling. E-Home has been a comprehensive service enterprise for family life! We have always adhered to the "solving every issue of customers with heart" business philosophy, adhere to do the industry benchmark. For more information, visit the Company's website at http://www.ej111.com/ir.html.

Forward-Looking Statement

All statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update 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 consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors.

Cision View original content:https://www.prnewswire.com/news-releases/e-home-household-service-holdings-limited-announces-annual-report-ended-june-30-2024-302291425.html

SOURCE E-Home Household Service Holdings Limited

FAQ

What was E-Home Household Service Holdings (EJH) total revenue for fiscal year 2024?

E-Home Household Service Holdings reported total revenue of $50,685,314 for the fiscal year ended June 30, 2024.

How much were E-Home's (EJH) operating expenses in fiscal year 2024?

E-Home's operating expenses were $28,786,296 for the fiscal year ended June 30, 2024, mainly due to increased investment in advertising and platform building.

What was EJH's cash position as of June 30, 2024?

E-Home reported cash and cash equivalents of $100,665,223 as of June 30, 2024, an increase from $71,252,380 in the previous year.

How much revenue did EJH generate from housekeeping and related services in 2024?

E-Home generated $49,209,110 in revenue from Housekeeping services, Installation and Maintenance services, and Senior care services for the year ended June 30, 2024.

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