Envela Corporation reported significant financial growth in its latest quarterly filing, with total sales reaching $54.9 million for the three months ended June 30, 2025, a 21.1% increase from $45.3 million in the same period last year. The company's net income also saw a substantial rise, climbing to $2.75 million, up 76% from $1.56 million in the prior year. This growth translated to earnings per share of $0.11, compared to $0.06 in the previous year, reflecting a strong performance across its business segments.
The consumer segment was a key driver of this growth, with sales increasing by 35% to $43.2 million, attributed to higher volumes and favorable pricing in wholesale precious metals transactions. In contrast, the commercial segment experienced a decline in sales, dropping 12.1% to $11.7 million, primarily due to lower sales of personal technology assets and electronic scrap. The overall cost of goods sold increased by 25.3% to $42.5 million, which was in line with the rise in sales, although the gross margin percentage decreased slightly to 22.6% from 25.1% year-over-year.
Operationally, Envela has been focusing on expanding its retail footprint and optimizing its existing operations. The company reported a total of 26,924,631 shares outstanding as of June 30, 2025, with a slight reduction in treasury stock. The total assets of the company increased to $82.7 million, up from $77.9 million at the end of 2024, driven by higher cash reserves and inventory levels. The company’s cash and cash equivalents stood at $22.9 million, reflecting a solid liquidity position.
Looking ahead, Envela plans to continue its strategic growth initiatives, including potential acquisitions and further expansion in both its consumer and commercial segments. The company is also monitoring economic conditions, including inflation and interest rates, which could impact consumer spending and operational costs. Management remains optimistic about the company's ability to navigate these challenges while capitalizing on growth opportunities in the re-commerce and recycling sectors.
About Envela Corp
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