Haoxi Health Technology Announces Preliminary FY24 Revenue Of ~$48.52M Up From $28.23M YoY

Benzinga10-07

Haoxi Health Technology Limited (the "Company" or "HAO"), an online marketing solution provider headquartered in Beijing, China, today announced preliminary unaudited financial results for the fiscal year ended June 30, 2024 ("FY24").

HAO projects revenue growth during FY24, which it attributes to the Company's strategic development in online advertising solutions, particularly through short video formats and news feed ads. The Company's proprietary data analysis software, Bidding Compass, enables it to optimize ad placements, which it believes has driven growth in both revenue and profit for FY24.

Key financial highlights (projected preliminary, unaudited results) are provided as below:

Revenue: Approximately $48.52 million for FY24, reflecting a 72% increase compared to $28.23 million in the fiscal year ended June 30, 2023 ("FY23").
Gross Profit: Approximately $2.75 million for FY24, reflecting a 33.4% increase from $2.06 million in FY23.
Net Income: Approximately $1.29 million for FY24, reflecting a 33.2% increase from $0.97 million in FY23.
- Total Assets: As of June 30, 2024, the Company's total assets increased to approximately $15.51 million, from $4.46 million at the end of FY23, reflecting HAO's operational scale and capital utilization after its initial public offering ("IPO").

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