DSS, Inc. Reports 28% Revenue Growth to $4.95 Million for Q1 2025

DSS, Inc. reported a total revenue of $4.95 million for the three months ended March 31, 2025, marking a 28% increase from $3.87 million in the same period last year. The growth was primarily driven by a 30% rise in revenue from printed products, which reached $3.99 million, attributed to new customer orders and existing customers exceeding their forecasts. Additionally, rental income surged by 79% to $714,000, reflecting new tenants at the AMRE LifeCare facility. However, net investment income fell sharply by 78% to $21,000, and commission revenue decreased by 27% to $221,000 due to a transition in clearing houses affecting equity trading.

The company's total costs and expenses increased slightly by 2% to $8.68 million, compared to $8.55 million in the prior year. Notably, the cost of revenue for printed products rose by 37% to $5.19 million, driven by increased sales. Selling, general, and administrative expenses also saw a significant rise of 67% to $3.49 million, largely due to a bonus awarded to Heng Fai Holdings Limited. Despite these increases, the operating loss improved to $3.73 million from $4.68 million year-over-year. The net loss attributable to common stockholders was $4.78 million, compared to $4.07 million in the previous year.

DSS, Inc. has made strategic moves to enhance its operational capabilities, including the sale of its Plano, Texas facility for $9.5 million, which resulted in a loss of approximately $684,000. The company also reported a significant reduction in its liabilities, with total liabilities decreasing to $62.61 million from $73.74 million at the end of the previous fiscal year. The company’s cash and cash equivalents stood at $10.83 million as of March 31, 2025, down from $11.43 million at the end of 2024, while total assets decreased to $92.44 million from $106.45 million.

In terms of operational metrics, DSS, Inc. reported a decrease in accounts receivable to $2.63 million from $3.07 million, indicating a tighter credit environment. The company also noted a reserve for credit losses of approximately $1.01 million, down from $1.61 million at the end of 2024. The employee headcount increased to 9,092,518 shares outstanding, reflecting ongoing efforts to bolster its workforce in line with business growth.

Looking ahead, DSS, Inc. remains focused on improving its financial health and operational efficiency. The company plans to continue its efforts in reducing expenses and cash burn across all business lines while exploring opportunities for geographic expansion and product adoption. The management expressed confidence in its ability to generate operating cash through the sale of marketable securities and real estate holdings, which are currently classified as held for sale, totaling approximately $35.4 million.