Dogness Stock Price, News & Analysis

Dogness (International) Corporation (NASDAQ: DOGZ) has announced a registered direct offering of approximately $3.96 million in Class A common shares at $1.82 per share. The total issuance amounts to 2,178,120 shares, expected to be completed by July 19, 2021. Proceeds will support general working capital. This offering utilizes the Company's effective shelf registration statement with the SEC, and FT Global Capital acted as the exclusive placement agent.

On July 13, 2021, Dogness (International) Corporation (NASDAQ: DOGZ) announced its products are now available on HomeDepot.com, including the 3.2L Smart Fountain Plus and smart retractable leashes. The Smart Fountain encourages pets to drink more with a continuous flow of clean water, while the leashes are designed for durability and comfort. Dogness aims to enhance its market presence through collaborations with major retailers and online platforms, emphasizing innovation and product quality to increase shareholder value.

Dogness (International) Corporation (NASDAQ: DOGZ) announced the shipment of 700 cartons of traditional pet products to a strategic partner in Japan. This move comes amid strong demand in key markets including China, the U.S., and Europe. Dog ownership in Japan has surged, outnumbering children under 15, partly due to the COVID-19 pandemic. The company plans to enhance its product lineup with innovative smart pet technologies later this year. CEO Silong Chen emphasized the commitment to meet high demand and strengthen pet-owner bonds.

Dogness (International) Corporation (NASDAQ: DOGZ) announced the addition of three new distributors to support its growth in the intelligent pet products market. These distributors will enhance the company's presence in Europe and Asia, specifically Taiwan and Russia. In the six months ending December 31, 2020, Dogness achieved 47.5% of sales from exports across 25 countries. CEO Silong Chen emphasized the company's focus on innovation in pet care solutions, driven by increasing global pet ownership and spending trends. Dogness aims to leverage its technology to expand sales in key markets.

On June 23, 2021, Dogness (International) Corporation (NASDAQ: DOGZ) announced a significant order for its Smart CAM Treaters from a major U.S. retailer with nearly 600 locations, valued at approximately $1 million. This order is indicative of the strong demand for Dogness's innovative pet-tech products and reflects the company's sales momentum. The Smart CAM Treaters allow pet owners to interact with their pets remotely, enhancing care options as society reopens. Dogness emphasizes its capacity to meet higher order volumes through robust production and supply chain management.

Argus Research has updated its coverage on Dogness (International) Corporation (NasdaqGM: DOGZ), highlighting the company's return to profitability in the first half of fiscal 2021. This turnaround is attributed to increased demand for pet products during the COVID-19 pandemic and a 7% revenue growth, with smart pet product sales surging by 60%. Dogness now has $2.3 million in cash and raised $7.4 million in January 2021. Analysts project a fair value of $6.00 per share, noting current trading at a steep discount to industry averages.

Dogness (International) Corporation (NASDAQ: DOGZ) announced the delivery of over 3,000 programmable automatic dog and cat feeders in June 2021, with an additional 1,000 units expected shortly. This marks the product's entry into all of Petco's 1,600 retail locations and online. CEO Silong Chen praised the team for managing global supply chain challenges and meeting large-scale orders. Dogness emphasizes its commitment to fulfilling customer demand while ensuring product availability for growth.

Dogness (International) Corporation (NASDAQ: DOGZ) announced that Costco will feature its smart pet products in new stores in Little Rock, AR, and Moore, OK, starting next month. A larger rollout is planned for October in preparation for the holiday season. Featured products include the Smart Treat Dispenser, Smart Water Fountain Plus, and Smart Cam iPet Robot. CEO Silong Chen expressed excitement over the partnership, which aims to boost brand awareness and sales.

Dogness reported a 6.7% year-over-year revenue increase to $12.2 million, driven by a 60.3% surge in smart pet product sales. U.S. sales rose 41.7%, while China saw a 4.8% increase. Gross margin improved to 39.1%, with comprehensive income reaching $5.0 million compared to a $1.2 million loss the previous year. EPS rose to $0.03, up from a loss of $0.01. The company expands its distribution networks, including agreements with major retailers like Petco, Costco, and Chewy. Continuous product innovation is expected to further boost profitability.