As of September 30, 2024, DSWISS, Inc. reported significant growth in its financial performance compared to the previous fiscal period. Total current assets surged to $772,306, a substantial increase from $316,961 as of December 31, 2023. Total assets also rose to $817,007, up from $367,493, while total liabilities increased to $618,413 from $311,078. This resulted in a notable rise in total stockholders’ equity, which reached $198,594, compared to $56,415 at the end of 2023.
Revenue for the three months ended September 30, 2024, was $1,027,198, a significant increase from $425,569 in the same period of 2023. For the nine months ended September 30, 2024, revenue totaled $2,077,942, compared to $1,046,764 in the prior year. However, gross profit for the three months decreased to $113,201 from $144,559 year-over-year, while for the nine months, it increased to $515,271 from $318,256.
Selling, general, and administrative expenses rose sharply, totaling $(166,073) for the three months ended September 30, 2024, compared to $(89,202) in the same period of 2023. For the nine months, these expenses were $(369,244), up from $(270,260). Consequently, DSWISS reported a net loss of $(61,468) for the three months ended September 30, 2024, contrasting with a net profit of $44,996 in the same period of 2023. However, for the nine months, the company achieved a net profit of $137,343, a significant increase from $16,070 in the prior year.
Total comprehensive loss for the three months ended September 30, 2024, was $(47,999), compared to a comprehensive income of $42,471 in the same period of 2023. In contrast, total comprehensive income for the nine months ended September 30, 2024, was $142,179, up from $45,397 in the previous year.
The company reported an accumulated deficit of $1,272,810 as of September 30, 2024, an improvement from $1,344,548 a year earlier. Net cash generated from operating activities for the nine months ended September 30, 2024, was $217,204, compared to $111,389 in the same period of 2023. The net increase in cash and cash equivalents for the nine months was $224,140, up from $74,663, with cash and cash equivalents at $473,250 as of September 30, 2024, compared to $288,932 a year earlier.
About DSwiss Inc
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