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TDH Holdings, Inc. Reports Full Year 2025 Audited Financial Results

PETZ
  • TDH Holdings, Inc. (NASDAQ: PETZ) reported financial results for the fiscal year ended December 31, 2025, focusing on its commercial real estate leasing & management operations.
  • Revenues from continuing operations increased 121.96% year-over-year to $1.25 million in 2025 from $0.56 million in 2024.
  • Gross profit turned into a $0.01 million loss in 2025 compared to a $0.24 million profit in 2024, primarily due to reclassifying agency service & maintenance costs from administrative expenses to cost of revenues.
  • Operating loss remained flat at $1.83 million for 2025 vs. 2024, though the operating loss margin improved significantly from -325.10% to -146.31% driven by revenue growth.
  • Net income attributable to common stockholders decreased 32.97% to $1.80 million in 2025 from $2.68 million in 2024, impacted by non-recurring losses from disposing of legacy non-core subsidiaries.
  • Earnings per share (basic & diluted) fell to $0.17 in 2025 from $0.26 in 2024.
  • Selling expenses rose to $49,583 in 2025 from $0 in 2024 due to expanded sales activities, while general & administrative expenses increased 1.38% to $1.77 million.
  • Cost of revenues surged 288.25% to $1.26 million in 2025, resulting in a gross margin of -0.94% compared to 42.29% in 2024.
  • Cash & cash equivalents grew to $19.16 million as of December 31, 2025, from $15.70 million the prior year, with short-term investments at $14.53 million.
  • Net cash used in operating activities was $1.78 million in 2025, contrasting with $0.23 million used in 2024, while net cash provided by investing activities increased to $6.24 million.
  • Working capital improved to approximately $27.40 million at year-end 2025 from $24.60 million in 2024.
  • The company discontinued legacy pet food & restaurant segments in prior periods, now deriving all revenue from commercial real estate leasing & property management.
  • Management states that current cash positions, liquid investments, & improved operating cash flows provide sufficient liquidity to meet anticipated requirements for at least 12 months.