Business
Datasea Pre-Announces Full-Year Fiscal 2025 Revenue of $90 Million, Representing a Year-Over-Year Increase of 275%, with Expected Significant Gross Profit Improvement
BEIJING, Nov. 19, 2024 /PRNewswire/ -- Datasea Inc. (Nasdaq: DTSS) ("Datasea" or the "Company"), a Nevada-registered digital technology company focused on
About this update from Datasea Intelligent Technology Ltd.
[{"type":"text","content":"BEIJING, Nov. 19, 2024 /PRNewswire/ -- Datasea Inc. (Nasdaq: DTSS) (\"Datasea\" or the \"Company\"), a Nevada-registered digital technology company focused on innovations in acoustic high-tech and 5G AI multimodal digital technologies, today pre-announced that its revenue for the fiscal year ending June 30, 2025, is expected to be approximately $90.0 million. This represents an increase of $66.0 million, or 275.0%, compared to full-year revenue of $24.0 million in fiscal year 2024.\n\n \n \n \n \n \n \n\n \nAs of October 31, 2024, Datasea achieved approximately $31.7 million in revenue for the first four months of fiscal 2025, which comprises previously disclosed first quarter revenue of $21.1 million and today's announcement of revenue of $10.6 million generated in October 2024.\nDatasea CEO Ms. Zhixin Liu commented, \"Our preannouncement of $90 million in revenue for fiscal 2025 is primarily due to strong results that we expect from our 5G digital applications business. This segment has exhibited robust growth for the first four months of fiscal 2025 driven by a series of large contracts, and we anticipate that this momentum will continue. As we penetrate additional verticals and continue to expand our footprint geographically, we believe that operating synergies will emerge that will rationalize our new business efforts and create improved operating profit.\"\nMs. Liu continued, \"We are also pleased to see progress in our acoustic high-tech business, whose clean air products are designed to create healthy and safe living environments. With our ongoing marketing and sales initiatives, these high-margin acoustic high-tech products are positioned across a spectrum of marketing and sales platforms where we expect to see sustained positive results.\"\n\"Our two business segments are supported by core AI-driven technologies that we believe confer a competitive advantage in their respective market segments. We are confident that the financial results of our businesses with their distinct sources of revenue will create long-term value for our shareholders,\" CEO Zhixin Liu concluded.\nAbout Datasea Inc.\nDatasea Inc. (\"Datasea\") is a leading provider of products, services, and solutions for enterprise and retail customers in two innovative industries, acoustic high tech and 5G-AI multimodal digitalization. The Company's advanced R...