DSS, Inc. Reports 26% Revenue Growth to $5.3 Million in Q2 2025

DSS, Inc. reported a total revenue of $5.3 million for the three months ended June 30, 2025, marking a 26% increase from $4.2 million in the same period last year. For the six months ended June 30, 2025, revenue rose 27% to $10.2 million compared to $8.1 million in 2024. The growth was primarily driven by a 21% increase in revenue from the Product Packaging segment, which generated $4.3 million, and a 57% increase in Securities revenue, which reached $981,000. However, the Commercial Lending segment saw a significant decline of 81%, with revenue dropping to $9,000, attributed to several loans going into non-accrual status.

The company's net loss for the second quarter of 2025 was $2.6 million, a 47% improvement from a loss of $4.9 million in the same quarter of 2024. For the first half of 2025, the net loss was $7.9 million, down from $10.1 million in the prior year. This reduction in losses was attributed to increased revenues in the Printed Products and Securities divisions, alongside a gain of approximately $1.7 million from investments. The company also incurred a loss of $727,000 from the sale of its Plano, Texas facility.

DSS, Inc. has made strategic moves, including the issuance of 1 million shares of common stock as a bonus to Heng Fai Holdings Limited, valued at approximately $870,000. The company also completed the sale of 499,800 shares of Impact Biomedical common stock for $1.5 million, and further sales of Impact shares totaling approximately $845,000 and $63,000. These transactions reflect the company's ongoing efforts to manage its equity and capitalize on its investments.

Operationally, DSS, Inc. reported a decrease in total current assets to $18.9 million as of June 30, 2025, down from $66.7 million at the end of 2024. This decline was largely due to the reclassification of assets held for sale and a reduction in accounts receivable. The company’s total liabilities also decreased to $66 million from $73.7 million, primarily due to the repayment of long-term debt. The company’s cash position stood at $9.4 million, with management indicating that it expects to maintain sufficient liquidity through equity sales and debt financing.

Looking ahead, DSS, Inc. is focused on enhancing its operational efficiency and reducing cash burn across its business lines. The company is also exploring opportunities for geographic expansion and product adoption, particularly in its Biotechnology and Securities segments. However, the ongoing challenges in the Commercial Lending sector and the need for continued capital management remain critical as the company navigates its path forward.