Business
Autozi Internet Technology (Global) Ltd. Achieves Revenue of $124.7 million, Up 9.9% Year-on-Year in FY2024
In January 2025, Autozi Internet Technology (Global) Ltd. (Nasdaq: AZI) officially released its financial results for the fiscal year ended September 30, 2024, reporting steady and solid growth. In FY2024, Autozi's revenue reached $124.7 million, an increase of 9.9% year-on-year; gross profit increased significantly, up 152.6% year-on-year; operating expenses decreased by 14.3%.
About this update from Autozi Internet Technology (global) Ltd.
[{"type":"text","content":"BEIJING, May 5, 2025 /PRNewswire/ -- In January 2025, Autozi Internet Technology (Global) Ltd. (Nasdaq: AZI) officially released its financial results for the fiscal year ended September 30, 2024, reporting steady and solid growth. In FY2024, Autozi's revenue reached $124.7 million, an increase of 9.9% year-on-year; gross profit increased significantly, up 152.6% year-on-year; operating expenses decreased by 14.3%.","length":422,"tagName":"p"},{"type":"text","content":"Double Growth in Revenue and Gross Profit","length":41,"tagName":"p"},{"type":"text","content":"According to the financial results, Autozi's revenue performance was solid, reaching $124.7 million, a year-over-year increase of 9.9%; gross profit was $1.3 million for FY 2024, an increase of 152.6%; operating expenses decreased by 14.3% to $6.7 million in FY 2024 from $7.8 million in the prior year.","length":307,"tagName":"p"},{"type":"text","content":"The performance of the auto parts and accessories sales business was particularly outstanding, with a significant increase of 86.1% in revenue, accounting for 55% of total revenue. In the future, Autozi will continue to emphasize this high-margin, growth-oriented market segment, to further consolidate its competitive advantages.","length":330,"tagName":"p"},{"type":"text","content":"Strategic Transformation and Business Optimization Yield Results","length":69,"tagName":"p"},{"type":"text","content":"In order to deeply cultivate high-potential areas, Autozi has made a series of strategic adjustments: it terminated its automobile insurance service business at the end of FY2023, and gradually downsized its new car sales business in FY2024, with a full strategic focus on the sales of auto parts and accessories.","length":313,"tagName":"p"},{"type":"text","content":"The company proactively adapted to market shifts by leveraging advanced technologies, such as artificial intelligence, big data and the Internet of Things, to continuously improve the responsiveness of its supply chain cloud platform. Meanwhile, it continued to optimize its cost structure and enforce rigorous cost control policies, while improving operational efficiency to comprehensively boost profitability.","length":412,"tagName":"p"},{"type":"text","content":"In addition, the company is actively expanding its cooperation network. In recent mont...