Axil Brands, Inc. reported a net revenue of $26.3 million for the fiscal year ending May 31, 2025, a decrease of 4.5% from $27.5 million in the previous year. The decline in sales was attributed primarily to reduced advertising expenditures that negatively impacted direct-to-consumer sales, although this was partially offset by increased sales through distribution channels. The company's gross profit also fell to $18.6 million, down 7.6% from $20.2 million in the prior year, resulting in a gross profit margin of 71.0%, compared to 73.4% in 2024. Net income for the year was reported at $855,000, a significant drop from $2 million in the previous fiscal year.
In terms of operational changes, Axil Brands underwent a strategic rebranding, changing its name from Reviv3 Procare Company to Axil Brands, Inc. on February 14, 2024, to better reflect its diverse product offerings. The company also incorporated a new subsidiary, Sharper Vision Marketing Inc., on May 5, 2025, aimed at leveraging its marketing expertise to enhance revenue streams. The hearing enhancement and protection segment accounted for approximately 94% of total revenue, while the hair and skin care segment contributed the remaining 6%.
The company reported a total of 10 full-time employees as of May 31, 2025, with no employees covered by collective bargaining agreements. Axil Brands has focused on expanding its market presence, particularly in the hearing enhancement sector, which includes products such as Bluetooth-enabled earbuds and earmuffs. The company has also been actively pursuing new distribution agreements and enhancing its marketing strategies to increase customer engagement and sales.
Looking ahead, Axil Brands anticipates continued growth, particularly through its new marketing subsidiary and strategic partnerships. The company is also addressing supply chain challenges and cost pressures resulting from international tariffs, which had a temporary impact on operations in the fourth quarter of fiscal 2025. Management remains optimistic about the company's ability to navigate these challenges and expects to generate positive cash flow and net income in the upcoming fiscal year.
About Axil Brands, Inc.
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