Exceed World, Inc., a company specializing in educational content and membership services through its Force Club Membership, has released its Form 10-Q report for the second quarter of 2024. The report provides a detailed overview of the company's financial performance and operational highlights for the period ending June 30, 2024.
Financial Highlights
- Revenues: $8.36 million for the three months ended June 30, 2024, compared to $7.00 million for the same period in 2023. The increase is mainly attributed to an increase in promotional activities.
- Revenues: $19.54 million for the nine months ended June 30, 2024, compared to $21.15 million for the same period in 2023. The decrease is primarily attributed to a decrease in recruitment activities of premium Force Club members.
- Gross Profit: $3.76 million for the three months ended June 30, 2024, compared to $3.54 million for the same period in 2023.
- Gross Profit: $9.58 million for the nine months ended June 30, 2024, compared to $10.77 million for the same period in 2023.
- Income (loss) from operations: $(0.60) million for the three months ended June 30, 2024, compared to $(0.24) million for the same period in 2023.
- Income (loss) from operations: $(0.61) million for the nine months ended June 30, 2024, compared to $0.56 million for the same period in 2023.
- Net income (loss): $0.05 million for the three months ended June 30, 2024, compared to $(0.49) million for the same period in 2023. The increase in net income is attributed to an increase in income taxes credit.
- Net income (loss): $(0.39) million for the nine months ended June 30, 2024, compared to $(0.16) million for the same period in 2023. The increase in net loss is attributed to a decrease in revenue.
- Income (loss) per common share - Basic and Diluted: $0.00 for the three months ended June 30, 2024, compared to $(0.02) for the same period in 2023.
- Income (loss) per common share - Basic and Diluted: $(0.01) for the nine months ended June 30, 2024, compared to $(0.00) for the same period in 2023.
Business Highlights
- Revenue Segments: The company operates through its wholly-owned subsidiaries, primarily generating revenue from the Force Club Membership, which includes standard, support, and premium members. The premium members have full access to educational content and the right to recruit new members, contributing significantly to the revenue.
- Geographical Performance: Substantially all of the company's revenue was generated in Japan, indicating a strong market presence and operational focus in this region.
- Future Plans: Over the next twelve months, the company plans to expand its sales network and enhance business activities by providing additional benefits and incentives to premium members, aiming to strengthen its market position.
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