Armlogi FY2024 revenue up 24% to $167M; net income drops 47% to $7.4M

Armlogi Holding Corp.

Revenue rose 23.6% to $167.0M; transportation revenue +18.8%, warehousing +38.1%.
Net income fell to $7.4M from $13.9M; gross margin contracted to 10.8% from 19.1%.
Costs increased 36.2% to $148.9M; rental expense doubled to $30.4M on expansion.
Closed $8M IPO of 1.6M shares at $5.00 per share in May 2024.
New 733,200 sq ft Savannah warehouse (SAV1) became operational in August; >70% occupancy.

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