Massimo Group FY2024 net income falls to $3.2M ($0.08 EPS) from $10.4M; revenue down 3.3% to $111.2M

Massimo Group

Net income $3.2M ($0.08 diluted EPS) vs $10.4M ($0.26) in FY2023; total revenue decreased 3.3% to $111.2M.
Revenue from UTVs, ATVs, e-bikes grew 4% to $107.5M, but other product lines caused total revenue decline.
Operating income fell to $6.8M from $12.9M; includes a $3.6M litigation loss.
Cash and equivalents increased to $10.2M from $0.8M; working capital positive at $19.2M.
Company plans expansion into AI robotic products; added new distribution centers.

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