FiEE, Inc. Announces Fourth Quarter and Full-Year 2025 Financial Results
Rhea-AI Summary
FiEE (NASDAQ:FIEE) reported strong fiscal 2025 results, with revenue up 867.9% YoY to $6.2M and a net income of $1.1M, reversing a prior-year loss. Gross profit rose to $5.4M and gross margin improved to 86.4%.
The company onboarded ~800 customers, recognized $5.3M of SaaS – MCN fees in 2025, secured $1.2M in customized software contracts, and acquired Houren-Geiju to add digital authentication services.
Positive
- Revenue +867.9% YoY to $6.2M
- Gross margin 86.4% (+54.0 percentage points)
- Net income turnaround to $1.1M in 2025
Negative
- General & administrative expenses +61.8% to $3.3M
- Warrant expense ~$1.0M in Q3 2025 affected G&A
- Accounts receivable $0.6M tied to $1.2M in software contracts
News Market Reaction – FIEE
In the Mar 23 session, FIEE gained 6.72%, reflecting a notable positive market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 02 | Prelim FY25 update | Positive | -13.2% | Preliminary FY 2025 and Q4 results previewing strong growth and profitability. |
| Nov 12 | Q3 2025 earnings | Positive | +7.4% | Q3 2025 results showing SaaS traction, high margins, and reduced losses. |
| Aug 13 | H1 2025 earnings | Positive | -3.8% | H1 2025 transition update with SaaS prepayments and reduced net loss. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings updates often triggered volatile, mixed reactions, with two negative and one positive move despite generally improving fundamentals.
Across recent earnings updates, FiEE has highlighted its pivot from hardware to SaaS and digital services. The H1 2025 report on Aug 13, 2025 showed early SaaS traction but lower net sales versus 2024. The Q3 2025 release on Nov 12, 2025 reported higher net sales, strong gross margin, and narrowing losses. Preliminary FY 2025 figures on Feb 2, 2026 previewed about $6.0M net sales and $1.0M net income, setting expectations that today’s finalized results now confirm and detail.
Key Terms
iot technical
saas technical
mcn technical
blockchain technical
warrant financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Full-Year Revenue Growth of
Achieved Net Income Turnaround in Fiscal Year 2025
Operational and Financial Highlights for the Year Ended December 31, 2025
- Revenue increased
867.9% year-over-year to approximately$6.2 million
- Gross profit increased 2,
483.0% year-over-year to approximately$5.4 million 86.4% , as compared to32.4% in the prior year.
- Net income was approximately
$1.1 million $4.2 million
- Net cash provided by operating activities was approximately
$3.6 million
- During 2025, the Company onboarded approximately 800 customers. The newly onboarded customers in 2025 led to SaaS – MCN digital service fees totaling
$6.8 million $5.3 million
- The Company introduced customized software services in July 2025. As of December 31, 2025, we have secured contracts totaling
$1.2 million $0.6 million
- Through the acquisition of Houren-Geiju Kabushikikaisha, a Japanese technology company specializing in digital authentication services for art collections, in November 2025, we added the ability to provide digital authentication services. As of December 31, 2025, digital authentication services generated
$0.3 million
Operational and Financial Highlights for the Fourth Quarter Ended December 31, 2025
- Revenue was approximately
$4.2 million $1.9 million
- Gross profit was approximately
$3.7 million $1.6 million
- Net income was approximately
$2.3 million $0.3 million
Rafael Li, Chief Executive Officer of FiEE, commented, "We are pleased to report a strong fourth-quarter and full-year 2025 performance, with full-year revenues rising
Mr. Li further mentioned, "Looking ahead, we plan to remain committed to investing in R&D to expand our service offerings, enhance customer experience, and deliver greater brand value across the digital content landscape. In addition to organic growth, we also plan to keep a keen eye on other external opportunities, in an attempt to further accelerate business growth and create greater value for our stockholders."
Financial Results for the Year Ended December 31, 2025
Revenue was approximately
Revenues | Year Ended December 31, | % | ||||
2025 | 2024 | change | ||||
$ | $ | YoY | ||||
Product sales | ||||||
| $ | - | $ | 638,804 | (100.0) % | |
| - | 1,089 | (100.0) % | |||
| 5,275,761 | - | N/A | |||
| 588,811 | - | N/A | |||
| 329,044 | - | N/A | |||
Total | $ | 6,193,616 | $ | 639,893 | 867.9 % | |
Gross profit was approximately
Gross margin was
Operating expenses were approximately
- Selling and marketing expenses were approximately
$0.4 million 531.7% from$0.07 million
- General and administrative expenses were approximately
$3.3 million 61.8% from$2.1 million $1.0 million 84.3% of the total increase in general and administrative expenses in 2025.
- Research and development expenses were approximately
$0.05 million 58.1% from$0.1 million
Operating income was approximately
Net income was approximately
Diluted earnings per common share was
As of December 31, 2025, total cash was
About FiEE, Inc.
FiEE, Inc. (NASDAQ:FIEE), formerly Minim, Inc., was founded in 1977. It has a historical track record of delivering comprehensive WiFi/Software as a Service platform in the market. After years of development, it made the strategic decision to transition to a Software First Model in 2024 to expand its technology portfolio and revenue streams. In 2025, FiEE, Inc. rebranded itself as a technology company leveraging its expertise in IoT, connectivity, and AI to explore new business prospects and extend its global footprint.
FiEE, Inc.'s services are structured into four key categories: Cloud-Managed Connectivity (WiFi) Platform, IoT Hardware Sales & Licensing, SAAS Solutions, and Professional To-C and To-B Services & Support. Notably, FiEE, Inc. has introduced its innovative Software as a Service solutions, which integrate its AI and data analytics capabilities into content creation and brand management. This initiative has led to the nurturing of a robust pool of KOLs on major social media platforms worldwide, assisting them in developing, managing, and optimizing their digital presence across global platforms. FiEE, Inc.'s services include customized graphics and posts, short videos, and editorial calendars tailored to align with brand objectives.
Forward-Looking Statements
In addition to historical information, this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements, written, oral or otherwise made, represent the Company's expectation or belief concerning future events. Without limiting the foregoing, the words "believes," "expects," "may," "might," "will," "should," "seeks," "intends," "plans," "strives," "goal," "estimates," "forecasts," "projects" or "anticipates" or the negative of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements included in this press release may include, among others, statements relating to (i) the future financial position and performance of the Company, (ii) our ability to successfully implement our strategic business transformation, (iii) our long-term growth objectives and opportunities, (iv) our commitment to investing in R&D to expand our service offerings, enhance customer experience, and deliver greater brand value across the digital content landscape and (v) our plans to further accelerate business growth and create value for our stockholders.
By nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statement. In addition, there may be other factors of which we are presently unaware or that we currently deem immaterial that could cause our actual results to be materially different from the results referenced in the forward-looking statements. All forward-looking statements contained in this press release are qualified in their entirety by this cautionary statement. Although we believe that our plans, intentions and expectations are reasonable, we may not achieve our plans, intentions or expectations. Forward-looking statements are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. See "Risk Factors" and "Special Note Regarding Forward-Looking Statements" included in the Company's filings with the
For investor and media inquiries, please contact:
Email: fiee@dlkadvisory.com
(financial tables follow)
FIEE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS | ||
As of December 31, | ||
2025 | 2024 | |
ASSETS | $ | $ |
Current assets | ||
Cash | 3,084,461 | 30,162 |
Accounts receivable | 2,110,715 | - |
Other receivable | 1,217,692 | - |
Prepaid expenses and other current assets | 199,309 | 134,757 |
Total current assets | 6,612,177 | 164,919 |
Property, equipment and software, net | 366,439 | 119,871 |
Intangible assets | 3,529,835 | - |
Operating lease right-of-use assets, net | 31,004 | - |
Other assets | 231,680 | 22,245 |
Total assets | 10,771,135 | 307,035 |
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
Current liabilities | ||
Accounts payable | 511,206 | 143,414 |
Contract liabilities | 1,497,721 | - |
Accrued expenses and other current liabilities | 1,169,737 | 293,613 |
Income tax payables | 972,743 | |
Current maturities of operating lease liabilities | 30,350 | - |
Total current liabilities | 4,181,757 | 437,027 |
Total liabilities | 4,181,757 | 437,027 |
Stockholders' equity (deficit) | ||
Preferred stock | 1,639,779 | 1,639,779 |
Common stock | 79,341 | 37,138 |
Additional paid-in capital | 100,500,280 | 94,886,147 |
Accumulated deficit | (95,621,579) | (96,694,013) |
Accumulated other comprehensive (loss) income | (8,443) | 957 |
Total stockholders' equity (deficit) | 6,589,378 | (129,992) |
Total liabilities and stockholders' equity (deficit) | 10,771,135 | 307,035 |
FIEE, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) SHEETS | ||
Years ended December 31, | ||
2025 | 2024 | |
$ | $ | |
Revenues | 6,193,616 | 639,893 |
Cost of revenues | 840,018 | 432,634 |
Gross profit | 5,353,598 | 207,259 |
Operating expenses: | ||
Selling and marketing | 418,011 | 66,171 |
General and administrative | 3,337,649 | 2,062,441 |
Research and development | 47,419 | 113,294 |
Vendor liability forgiveness, net of asset transfers | - | 2,200,929 |
Total operating expenses | 3,803,079 | 4,442,835 |
Operating income (loss) | 1,550,519 | (4,235,576) |
Other income (expense): | ||
Interest income (expense), net | (8,953) | 82 |
Foreign currency exchange loss | (14,315) | - |
Other, net | (6,613) | - |
Total other income (expense) | (29,881) | 82 |
Income (loss) before income taxes | 1,520,638 | (4,235,494) |
Income tax expense(benefit) | 448,204 | (11,216) |
Net income (loss) | 1,072,434 | (4,224,278) |
Allocation to participating preferred stock | (391,125) | - |
Net income (loss) attributable to common stockholders | 681,309 | (4,224,278) |
Basic earnings (loss) per common share | 0.12 | (1.34) |
Diluted earnings (loss) per common share | 0.10 | (1.34) |
Weighted-average number of common shares outstanding: | ||
Basic | 5,622,077 | 3,159,061 |
Diluted | 7,080,633 | 3,159,061 |
Net income (loss) | 1,072,434 | (4,224,278) |
Other comprehensive income (loss), net of tax: | ||
Foreign currency translation adjustment | (9,400) | - |
Total comprehensive income (loss) | 1,063,034 | (4,224,278) |
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SOURCE FiEE, Inc.