EUBG reports FY2022 revenue down 37.8% to $3.5M; net income falls to $404K

ENTREPRENEUR UNIVERSE BRIGHT GROUP

Revenue of $3.51M, down 37.8% YoY from $5.64M, driven by drop in consultancy services and suspension of Jade Bird digital training.
Net income of $404,618, down 62.8% from $1.09M in FY2021; income tax expense decreased 29.1% to $701,435.
Gross profit fell 25.4% to $2.84M; cost of revenue decreased 63.7% to $663,486, partly due to lower direct costs.
Selling expenses dropped 84.2% to $40,165; general and administrative expenses rose slightly 0.9% to $1.68M.
Cash and cash equivalents of $7.19M as of Dec 31, 2022, down from $7.65M a year earlier.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ENTREPRENEUR UNIVERSE BRIGHT GROUP reported the fiscal year ended December 31, 2022 results: revenue $3,507,590, net income $404,618.

Period: the fiscal year ended December 31, 2022
Revenue: $3,507,590
Net income: $404,618
Result: reported results

Exact text from the filing

2022 Financial Results: 2022 2021 Revenue $ 3,507,590 $ 5,637,396 Cost of revenue (663,486 ) (1,827,082 ) Gross profit 2,844,104 3,810,314 Selling expenses (40,165 ) (253,958 ) General and administrative expenses (1,683,575 ) (1,668,432 ) Total other (expenses) income, net (14,311 ) 187,392 Income before income tax 1,106,053 2,075,316 Income tax expense (701,435 ) (988,916 ) Net income $ 404,618 $ 1,086,400

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Source: SEC EDGAR

accession 0001213900-23-024617

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