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Ridgetech (NASDAQ:RDGT) reported its fiscal year 2025 results, marked by strategic transformation. Revenue reached $119.97 million, a slight decrease of 3.2% from the previous year. The company reported net income of $10.20 million ($1.84 per share), compared to a net loss of $4.23 million in FY2024.
Key developments include the divestiture of retail pharmacy operations and the acquisition of Ridgeline and Allright, marking expansion into online wholesale distribution. The newly acquired online platform contributed 1% of total revenue with a 7.4% gross margin. Overall gross margin decreased to 3.2% from 3.9% year-over-year, while sales and marketing expenses increased by 64.2%.
The company's cash position strengthened to $12.78 million as of March 31, 2025, up from $2.30 million the previous year, with operating activities providing $1.25 million in cash flow.
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