Financial Results for the Half Year Ended December 31, 2023
Revenuesdecreased by approximately $3.7 million, or 35.8%, to approximately $6.7 million for the six months ended December 31, 2023 from approximately $10.4 million for the same period in 2022. The decrease in revenue was primarily attributable to the significant decrease in sales for both domestic and international markets.
The following table breaks down Dogness' revenue by product and service type for the six months ended December 31, 2023 and 2022:
| For the six months ended December 31, | |||||||||
| 2023 | 2022 | ||||||||
| Products and services category | Revenue | Revenue | Variance % | ||||||
| Products | |||||||||
| Traditional pet products | $ | 3,601,676 | $ | 4,720,547 | (23.7) | % | |||
| Intelligent pet | 2,234,220 | 4,909,115 | (54.5) | % | |||||
| Climbing hooks and others | 761,742 | 722,312 | 5.5 | % | |||||
| Total revenue from products | 6,597,638 | 10,351,974 | (36.3) | % | |||||
| Services | |||||||||
| Dyeing services | 77,049 | - | - | % | |||||
| Other services | - | 46,633 | (100.0) | % | |||||
| Total revenue from services | 77,049 | 46,633 | 65.2 | % | |||||
| Total | $ | 6,674,687 | $ | 10,398,607 | (35.8) | % | |||
─Traditional pet products
Revenue from traditional pet products decreased by $1.1 million or 23.7%, from $4.7 million in the six months ended December 31, 2022, to $3.6 million in the six months ended December 31, 2023. The decline was...