Dream Homes & Development Corporation reported its financial results for the first quarter of 2025, revealing a significant increase in revenue and a return to profitability compared to the same period in 2024. The company generated $2.11 million in revenue from construction contracts, a 43% increase from $1.47 million in the first quarter of 2024. Gross profit also rose to $478,407, compared to $233,415 in the previous year, indicating improved operational efficiency. The net income for the quarter was $165,094, a notable turnaround from a net loss of $122,618 in the first quarter of 2024.
The financial performance reflects a strategic shift in operations, as the company reduced its operating expenses from $331,717 in the first quarter of 2024 to $251,354 in the current period. This reduction was primarily due to lower selling, general, and administrative expenses, which decreased by 26%. Additionally, the company reported a decrease in interest expenses and a gain from other income, contributing to the overall improvement in profitability. The total liabilities decreased significantly from $8.64 million at the end of 2024 to $6.73 million as of March 31, 2025, indicating a stronger balance sheet.
Operationally, Dream Homes & Development Corporation has made strides in its customer engagement and market presence. The company reported an increase in accounts receivable, which rose to $164,960 from $142,595, suggesting a growing customer base. The total stockholders' equity attributable to the company decreased slightly to $2.17 million from $2.39 million, primarily due to retained earnings reflecting the net loss. The company also increased its common stock outstanding to 48,564,493 shares, up from 47,414,493 shares, indicating potential equity financing activities.
In terms of strategic developments, the company has continued to invest in land acquisition for future projects, with deposits and costs related to land development increasing to $2.89 million from $2.83 million. This investment aligns with the company's focus on expanding its footprint in the real estate market. The filing also noted that the company is exploring new product lines and services to enhance its offerings, although specific details on these initiatives were not disclosed.
Looking ahead, Dream Homes & Development Corporation expressed optimism about its growth trajectory, citing favorable market conditions and a strong demand for residential construction. The company aims to leverage its improved financial position to pursue additional development opportunities and enhance operational efficiencies. Management remains focused on maintaining profitability while navigating the challenges of the construction industry, including fluctuating material costs and labor availability.
About Dream Homes & Development Corp.
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