Yiren Digital announced its financial results for the fiscal year 2024 ended June 30. Total revenue decreased to $50.69 million from $68.32 million in FY 2023. However, the company significantly narrowed its net loss to $19.47 million, compared to $36.24 million in the previous year. Diluted loss per share improved to $24.03 from $307.53 YoY.Segment-wise, installation and maintenance services remained the largest revenue contributor at $29.77 million, followed by housekeeping at $15.41 million. The company also saw growth in senior care services and educational consulting, generating $4.03 million and $1.26 million in revenue, respectively. Despite the overall revenue decline, Yiren Digital managed to reduce its operating expenses, with sales and marketing expenses at $21.34 million and general and administrative expenses at $7.44 million.Yiren Digital's balance sheet showed total assets of $178.72 million...Show More

Yiren Digital announced its financial results for the fiscal year 2024 ended June 30. Total revenue decreased to $50.69 million from $68.32 million in FY 2023. However, the company significantly narrowed its net loss to $19.47 million, compared to $36.24 million in the previous year. Diluted loss per share improved to $24.03 from $307.53 YoY.Segment-wise, installation and maintenance services remained the largest revenue contributor at $29.77 million, followed by housekeeping at $15.41 million. The company also saw growth in senior care services and educational consulting, generating $4.03 million and $1.26 million in revenue, respectively. Despite the overall revenue decline, Yiren Digital managed to reduce its operating expenses, with sales and marketing expenses at $21.34 million and general and administrative expenses at $7.44 million.Yiren Digital's balance sheet showed total assets of $178.72 million as of June 30, 2024, including $100.67 million in cash and cash equivalents. The company faced legal challenges, setting aside $637,019 for a dispute related to the Lianbao acquisition. Post fiscal year-end, Yiren Digital completed a registered direct offering of 65 million ordinary shares at $1.00 per share in July 2024 and implemented a one-for-ten reverse stock split in September, indicating efforts to strengthen its financial position and capital structure.