Maison Solutions Inc. reported fiscal year 2024 revenue of $58.0 million, a 4.8% increase from $55.4 million in FY2023, driven by the acquisition of Lee Lee supermarkets and increased sales from Maison Monterey Park. However, the company recorded a net loss of $3.3 million compared to net income of $1.3 million in the prior year, primarily due to increased operating expenses and reduced other income.Operating expenses rose 15.8% to $14.3 million, mainly due to higher payroll costs, utilities, and advertising expenses. Gross margin declined to 20.0% from 22.5% in FY2023 due to increased inventory write-offs and higher occupancy costs. The company completed strategic acquisitions including Lee Lee Oriental Supermart for $22.2 million in April 2024, adding three stores in Arizona.The company strengthened its market position through successful IPO and PIPE offerings, raising net proceeds of approximately $13.3 million. Management continues to focus on expanding its center-satellite store network, improving operational efficiency, and enhancing its digital capabilities through partnership with JD.com, despite facing challenges from increased competition and inflationary pressures.

Maison Solutions Inc. reported fiscal year 2024 revenue of $58.0 million, a 4.8% increase from $55.4 million in FY2023, driven by the acquisition of Lee Lee supermarkets and increased sales from Maison Monterey Park. However, the company recorded a net loss of $3.3 million compared to net income of $1.3 million in the prior year, primarily due to increased operating expenses and reduced other income.Operating expenses rose 15.8% to $14.3 million, mainly due to higher payroll costs, utilities, and advertising expenses. Gross margin declined to 20.0% from 22.5% in FY2023 due to increased inventory write-offs and higher occupancy costs. The company completed strategic acquisitions including Lee Lee Oriental Supermart for $22.2 million in April 2024, adding three stores in Arizona.The company strengthened its market position through successful IPO and PIPE offerings, raising net proceeds of approximately $13.3 million. Management continues to focus on expanding its center-satellite store network, improving operational efficiency, and enhancing its digital capabilities through partnership with JD.com, despite facing challenges from increased competition and inflationary pressures.