Powerdyne International, Inc. reported a decrease in revenue for the fiscal year ending December 31, 2024, generating $1.25 million compared to $1.45 million in 2023. The decline in revenue is attributed primarily to reduced demand from the semiconductor manufacturing sector, particularly affecting its subsidiary, Creative Motion Technology (CM Tech). The company's gross profit for 2024 was approximately $365,757, resulting in a gross profit margin of 29.23%, which is expected to remain between 29% and 35% for future product sales.
Operating expenses increased by 5.9% to $545,335 in 2024, up from $515,000 in the previous year. This rise in expenses was largely due to a change in auditors, which contributed to higher professional fees. The company reported a net loss of $179,579 for 2024, compared to a loss of $84,173 in 2023, reflecting the impact of decreased revenues and increased operating costs. Powerdyne's accumulated deficit grew to $5.26 million by the end of 2024, up from $5.08 million in 2023.
In terms of strategic developments, Powerdyne completed the acquisition of CM Tech in March 2022, which has since focused on manufacturing industrial servomotors for robotics in the semiconductor industry. The company also operates Frame One, a custom picture framing business. Despite the challenges faced in 2024, Powerdyne continues to explore growth opportunities within its existing business segments.
Operationally, Powerdyne's workforce consists of nine full-time employees and five consultants. The company has maintained a working capital deficit, which increased to $253,545 in 2024 from $74,057 in 2023. The company has relied on financing from its CEO and a new line of credit to support its operations amid the economic slowdown attributed to the election year.
Looking ahead, Powerdyne anticipates that improvements in revenue will enhance its cash flow and working capital position. The company plans to continue leveraging its existing relationships with suppliers and exploring new market opportunities, particularly in the semiconductor sector. However, the ability to sustain operations and meet financial obligations remains contingent on securing additional financing and improving operational performance.
About POWERDYNE INTERNATIONAL, INC.
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