1. Revenue surged 210% YoY to $1.98 million for nine months. 2. Net loss decreased 71% YoY to $1.27 million. 3. Gross margin improved significantly to 83% from 32.4% last year. 4. Company added 528 customers, showing strong SaaS growth. 5. Participation in global expo expanded international presence.
The substantial increase in revenue and reduction in net loss reflect positive operational momentum and successful transition to SaaS, which could drive investor confidence and lead to higher stock valuations.
The results indicate a turning point for FIEE, with increasing revenue and improving margins likely to attract further investment and positive market sentiment.
Sustaining growth in SaaS and expanding customer base are long-term strategies that position FIEE for future profitability.
First Nine Months Revenue Increased Significantly by over 210% YoY
Dual growth engine from MCN Digital Services and Customized Software R&D Services
HONG KONG, Nov. 12, 2025 /PRNewswire/ -- FiEE, Inc. (NASDAQ:FIEE) ("FiEE" or the "Company"), a technology company integrating IoT, connectivity and AI to redefine brand management solutions in the digital era, today announced its unaudited financial results for the third quarter ended September 30, 2025.
Operational and Financial Highlights for the Three and Nine Months Ended September 30, 2025
Rafael Li, Chief Executive Officer of FiEE, commented, "We are pleased to report strong third-quarter results that mark a significant milestone in our strategic transformation. In the third quarter, our net sales increased by 210% year over year, validating our strategic pivot to SaaS solutions. Our progress is fueled by our dual growth engine strategy, with our customized software R&D services already securing $480 thousand in contracts, while we continue to onboard new customers for our MCN digital services. We believe these two complementary business segments provide us with diversified revenue streams and sustainable growth prospects. Building on this momentum, we expect to continue to invest in R&D to enhance our customer experience and deliver brand values across the digital content space."
Mr. Li further mentioned, "Another highlight was our successful participation in the Osaka World Expo during the third quarter, where we attracted many international visitors and engaged with top global innovators. Moving forward, we plan to remain focused on expanding our international presence and delivering our products to a worldwide community of key opinion leaders."
Financial Results for the Nine Months Ended September 30, 2025
Net Sales were $1,984,660, compared to $639,893 in the same period of fiscal year 2024.
Net Sales
| Nine Months Ended | % | ||||
September 30 | September 30 | change | ||||
$ | $ | YoY | ||||
Product sales | ||||||
• Cable modems & gateways | - | 638,804 | (100 %) | |||
• Other network products | - | 1,089 | (100 %) | |||
• SaaS – MCN digital services | 1,797,314 | - | 100 % | |||
• Software services | 187,346 | - | 100 % | |||
Total | 1,984,660 | 639,893 | 210 % | |||
Gross profit was $1,648,241, compared to $207,259 in the same period of 2024.
Gross margin was 83.0%, compared to 32.4% in the same period of 2024.
Operating expenses were $2,756,879, representing a decrease of 39.9% from $4,590,491 in the same period of 2024.
Operating loss was $1,108,638, representing a reduction of loss by 74.7% comparing with the same period of 2024.
Net loss was $1,266,575, representing a reduction of loss by 71.0% comparing with the same period of 2024.
Diluted net loss per share was $0.25, representing a reduction of loss by 83.0% comparing with the same period of 2024.
Total cash and cash equivalents were $5,905,372, compared to $30,162 as of December 31, 2024.
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 results of operations of the Company, (ii) our ability to successfully implement our strategic business transformation and (iii) our long-term growth objectives and opportunities.
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 U.S. Securities and Exchange Commission, including the Company's most recent annual report on Form 10-K and other risk factors described from time to time in subsequent quarterly reports on Form 10-Q or other subsequent filings. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
For investor and media inquiries, please contact:
Email: fiee@dlkadvisory.com
(financial tables follow)
FIEE, INC. AND SUBSIDIARIES | ||
UNAUDITED CONDENSED CONSOLIDATED | ||
BALANCE SHEETS | ||
September 30, (Unaudited) | December 31, 2024 | |
$ | $ | |
ASSETS | ||
Current assets | ||
Cash and cash equivalents | 5,905,372 | 30,162 |
Accounts receivable | 187,347 | - |
Other receivable | 430,822 | - |
Prepaid expenses and other current assets | 205,937 | 134,757 |
Total current assets | 6,729,478 | 164,919 |
Property, equipment and software, net | 322,803 | 119,871 |
Operating lease right-of-use assets, net | 44,811 | - |
Intangible assets | 1,171,093 | - |
Deferred offering costs | 150,000 | - |
Other assets | 89,725 | 22,245 |
Total assets | 8,507,910 | 307,035 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Current liabilities | ||
Accounts payable | 146,946 | 143,414 |
Contract liabilities | 2,460,483 | - |
Other payables | 785,457 | - |
Accrued expenses and other current liabilities | 855,348 | 293,613 |
Convertible note payable to related party | 308,671 | - |
Current maturities of operating lease liabilities | 44,193 | - |
Total current liabilities | 4,601,098 | 437,027 |
Total liabilities | 4,601,098 | 437,027 |
Stockholders' equity (deficit) | ||
Preferred stock | 1,639,779 | 1,639,779 |
Common stock | 62,960 | 37,138 |
Additional paid-in capital | 100,161,708 | 94,886,147 |
Accumulated deficit | (97,960,588) | (96,694,013) |
Accumulated other comprehensive income | 2,953 | 957 |
Total stockholders' equity (deficit) | 3,906,812 | (129,992) |
Total liabilities and stockholders' equity (deficit) | 8,507,910 | 307,035 |
FIEE, INC. AND SUBSIDIARIES | ||
UNAUDITED CONDENSED CONSOLIDATED | ||
STATEMENTS OF OPERATIONS SHEETS | ||
Nine Months ended | ||
September 30, (Unaudited) | September 30, 2024 | |
$ | $ | |
Net sales | 1,984,660 | 639,893 |
Cost of sales | 336,419 | 432,634 |
Gross profit | 1,648,241 | 207,259 |
Operating expenses: | ||
Selling and marketing | 49,160 | 66,171 |
General and administrative | 2,660,300 | 2,210,097 |
Research and development | 47,419 | 113,294 |
Vendor liability forgiveness, net of asset transfers | - | 2,200,929 |
Total operating expenses | 2,756,879 | 4,590,491 |
Operating loss | (1,108,638) | (4,383,232) |
Other income (expense): | ||
Interest income (expense), net | (8,673) | 82 |
Foreign currency exchange loss | (9,079) | - |
Total other income (expense) | (17,752) | 82 |
Loss before income taxes | (1,126,390) | (4,383,150) |
Income tax expense(benefit) | 140,185 | (11,216) |
Net loss | (1,266,575) | (4,371,934) |
Net loss per share: | ||
Basic and diluted | (0.25) | (1.47) |
Basic and diluted weighted average common and common equivalent shares |
5,037,981 |
2,972,118 |
View original content:https://www.prnewswire.com/news-releases/fiee-announces-fiscal-2025-third-quarter-unaudited-financial-results-302613283.html
SOURCE FiEE, Inc.