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ICZOOM Group Inc. Announces Unaudited Financial Results for First Half of Fiscal Year 2025

1. ICZOOM's revenue grew 3% to $90.34 million in H1 2024. 2. The company turned a profit with diluted EPS of $0.07, up from loss. 3. New customers increased by 15.1%, showing effective market acquisition. 4. Growth is linked to China's booming automotive electronics sector. 5. Cash and restricted cash at the end of the period totaled approximately $5.68 million.

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Why Bullish?

ICZOOM showing revenue growth and profitability indicates strong operational performance. Historically, companies with growth in revenue and a reversal from losses often see stock price appreciation.

How important is it?

The financial results directly showcase the company's growth and profitability, essential indicators for investors. Given that IZM is cyclical with technology demand, positive trends in earnings are likely to impact investor sentiment favorably.

Why Short Term?

Investors may react positively to this report in the upcoming trading sessions, unlike long-term trends which depend on market conditions. Short-term momentum observed after profitability announcements typically boosts stock performance quickly.

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, /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced its unaudited financial results for the six months ended December 31, 2024, on June 18, 2025. Amidst a continuously evolving market environment, ICZOOM executed effectively in line with its initial expectation. ICZOOM achieved positive revenue growth with total revenue increased by 3.0% from $87,720,553 for the six months ended December 31, 2023 to $90,340,640 for the six months ended December 31, 2024. ICZOOM successfully turned a profit, with diluted earnings per share (EPS) reaching USD $0.07 for the six months ended December 31, 2024, increased from a loss of USD 0.07 per share for the six months ended December 31, 2023. For the six months ended December 31, 2024 2023 (Unaudited) (Unaudited) Variances % of total % of total Amount revenue Amount revenue Amount % Revenues Sales of electronic components $ 89,068,580 98.6 % $ 86,329,512 98.4 % $ 2,739,068 3.2 % Service commission fee 1,272,060 1.4 % 1,391,041 1.6 % (118,981) (8.6) % Total revenue % % % $ 90,340,640 100.0 $ 87,720,553 100.0 $ 2,620,087 3.0 For the six months ended December 31, Note 2024 2023 EARNINGS/(LOSS) PER ORDINARY SHARE: – BASIC $ 0.07 $ (0.07) – DILUTED $ 0.07 $ (0.07) Ms. Duanrong Liu, the Co-Founder and Chief Operating Officer of ICZOOM, highlighted that ICZOOM's positive performance during the six months ended December 31, 2024 is primarily attributable to the increased stock-keeping unit ("SKUs") and new customers, which increased by 7.3% from 8,373 different products for the six months ended December 31, 2023 to 8,986 different products for the six months ended December 31, 2024, as well as the number of new customers rose by 16 or 15.1% from 106 as of December 31, 2023 to 122 as of December 31, 2024. For the six months ended December 31, 2024(Unaudited) 2023(Unaudited) Variances % Stock-keeping unit (SKU) available for sale-Semiconductor 7,801 6,955 846 12.2 % Stock-keeping unit (SKU) available for sale-Equipment and tools 1,185 1,418 (233) (16.4) % Total SKUs 8,986 8,373 613 7.3 % Besides the changes on the financial statements, Ms. Liu also stated that the company's development is closely linked to the growth of China's automotive electronics industry. According to the 2025-2030 Development Status and Investment Strategy Research Report on China's Automotive Electronics Industry released by the CCID Industry Research Institute, the size of China's automotive electronics market reached approximately RMB 1.22 trillion (approximately $ 171.83 billion) in 2024, representing a growth of 10.95% compared to the previous year.Please refer to the Company's unaudited interim financial results, that can be found at http://ir.iczoomex.com/index.html. The company uses its website as a tool to disclose important information about the Company and to comply with its disclosure obligations under Regulation Fair Disclosure. About ICZOOM Group Inc. ICZOOM Group Inc. (Nasdaq: IZM) is primarily engaged in sales of electronic component products to customers in Hong Kong and mainland China through its B2B e-commerce platform. These products are primarily used by China based small and medium-sized enterprises ("SMEs") in the consumer electronic industry, Internet of Things ("IoT"), automotive electronics and industry control segments. By utilizing latest technologies, the Company's platform collects, optimizes and presents product offering information from suppliers of all sizes, all transparent and available to its SME customers to compare and select. In addition to the sales of electronic component products, the Company also provides services to customers such as temporary warehousing, logistic and shipping, and customs clearance. For more information, please visit the Company's website: http://ir.iczoomex.com/index.html.  Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "should," "will," "could" and similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission. ICZOOM GROUP INC. AND ITS SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, June 30, 2024 2024 Note (Unaudited) (Audited) ASSETS CURRENT ASSETS: Cash $ 1,143,940 $ 2,453,728 Restricted cash 4,531,918 3,031,232 Notes receivable 6,595 3,071 Accounts receivable 3 33,649,619 28,297,491 Inventories, net 4 1,093,582 339,286 Advances to suppliers 5 982,134 4,022,696 Prepaid expenses and other current assets 7 3,186,205 984,563 TOTAL CURRENT ASSETS 44,593,993 39,132,067 Property and equipment, net 8 76,357 123,295 Right-of-use assets, net 10 77,523 379,101 Intangible assets, net 9 146,473 204,033 Other non-current assets 7,097 1,448 Deferred tax assets 13 37,802 135,098 TOTAL NON-CURRENT ASSETS 345,252 842,975 TOTAL ASSETS $ 44,939,245 $ 39,975,042 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Short-term bank loans, net 11 $ 10,681,158 $ 10,211,264 Notes payable 11 - 1,543,465 Accounts payable 12 10,627,849 5,263,945 Contract liabilities 2,700,821 3,037,609 Due to related parties 14 1,662,294 474,544 Taxes payable 13 3,147,148 3,251,484 Lease liabilities 10 96,690 408,001 Accrued expenses and other current liabilities 510,823 404,016 TOTAL CURRENT LIABILITIES 29,426,783 24,594,328 TOTAL LIABILITIES 29,426,783 24,594,328 COMMITMENTS AND CONTINGENCIES 18 SHAREHOLDERS' EQUITY Class A shares, 30,000,000 shares authorized US$0.16 par value, 7,902,495 shares issued and outstanding and 7,171,858 shares issued and outstanding as of December 31, 2024 and June 30, 2024, respectively; 16 1,264,399 1,147,497 Class B shares, 5,000,000 shares authorized US$0.16 par value, 3,829,500 shares issued and outstanding as of December 31, 2024 and June 30, 2024 16 612,720 612,720 Additional paid-in capital 19,956,956 19,956,956 Statutory reserve 16 624,097 624,097 Accumulated deficit (6,825,655) (7,606,597) Accumulated other comprehensive (loss)/ income (120,055) 646,041 TOTAL SHAREHOLDERS' EQUITY 15,512,462 15,380,714 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 44,939,245 $ 39,975,042 ICZOOM GROUP INC. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVEINCOME/(LOSS) (UNAUDITED) For the six months ended December 31, Note 2024 2023 Revenue, net Sales of electronic components $ 89,068,580 $ 86,329,512 Service commission fees 1,272,060 1,391,041 Total revenue, net 90,340,640 87,720,553 Cost of revenue 87,381,979 85,533,907 Gross profit 2,958,661 2,186,646 OPERATING EXPENSES Selling expenses 799,330 776,007 General and administrative expenses 1,634,197 1,523,002 Total operating expenses 2,433,527 2,299,009 INCOME/(LOSS) FROM OPERATIONS 525,134 (112,363) OTHER INCOME (EXPENSES) Foreign exchange transaction gain/(loss) 480,084 (559,655) Interest expense (210,574) (351,806) Short-term investment income 7,062 59,174 Subsidy income 36,346 11,409 Other expenses, net (90,027) (93,481) Total other income/(expenses), net 222,891 (934,359) INCOME/(LOSS) BEFORE INCOME TAX PROVISION 748,025 (1,046,722) INCOME TAX BENEFIT 13 32,917 324,977 NET INCOME/(LOSS) 780,942 (721,745) Foreign currency translation adjustments (766,096) 836,583 TOTAL COMPREHENSIVE INCOME $ 14,846 $ 114,838 EARNINGS/(LOSS) PER ORDINARY SHARE: – BASIC $ 0.07 $ (0.07) – DILUTED $ 0.07 $ (0.07) WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES*: – BASIC 10,828,967 10,362,861 – DILUTED 10,828,967 11,094,229 ICZOOM GROUP INC. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE SIX MONTHS ENDED DECEMBER 31, 2024 AND 2023 (UNAUDITED) Accumulated Ordinary Shares, $0.16 par* Additional Other Total Class A Class B Paid-in Statutory Accumulated Comprehensive Shareholders' Shares Amount Shares Amount Capital Reserve Deficit Income/ (Loss) Equity Balance, June 30, 2023 6,496,874 $ 1,039,499 3,829,500 $ 612,720 $18,795,548 $ 624,097 $ (5,334,300) $ (193,368) $ 15,544,196 Share issuance 43,784 7,005 — — — — — — 7,005 Net income for the period — — — — — — (721,745) — (721,745) Foreign currency translation adjustment — — — — — — — 836,583 836,583 Balance, December 31, 2023 6,540,658 $ 1,046,504 3,829,500 $ 612,720 $18,795,548 $ 624,097 $ (6,056,045) $ 643,215 $ 15,666,039 Balance, June 30, 2024 7,171,858 $ 1,147,497 3,829,500 $ 612,720 $19,956,956 $ 624,097 $ (7,606,597) $ 646,041 $ 15,380,714 Share issuance 730,637 116,902 — — — — — — 116,902 Net loss for the period  — — — — — — 780,942 — 780,942 Foreign currency translation adjustment — — — — — — — (766,096) (766,096) Balance, December 31, 2024 7,902,495 $ 1,264,399 3,829,500 $ 612,720 $19,956,956 $ 624,097 $ (6,825,655) $ (120,055) $ 15,512,462 ICZOOM GROUP INC. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITTED) For the six months ended December 31, 2024 2023 Cash flows from operating activities: Net income /(loss) $ 780,942 $ (721,745)  Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 119,175 121,588 Property and equipment written off - 1220 Amortization of right-of-use assets 299,809 297,672 Reversal of provision for inventory impairment - (1,851) Amortization of debt issuance costs 90,288 92,491 Deferred income tax provision 96,989 (345,389) Unrealized exchange loss 265,606 560,321 Changes in operating assets and liabilities: Notes receivable (3,581) - Accounts receivable (5,641,073) 28,931,833 Inventories (764,667) 393,526 Advances to suppliers 3,040,273 (279,267) Prepaid expenses and other current assets (2,234,932) 220,639 Accounts payable 5,374,423 (27,737,233) Contract liabilities (318,381) 264,015 Taxes payable (81,442) 297,112 Lease liabilities 302,913 (186,791) Accrued expenses and other current liabilities 137,798 (2,934,362) Net cash provided by (used in) operating activities 1,464,140 (1,026,221) Cash flows from investing activities: Purchase of property and equipment (16,371) (70,490) Purchase of intangible assets (5,908) (57,398) Purchase of short-term investments - (1,129,600) Proceeds upon maturity of short-term investments - 1,129,600 Net cash used in investing activities (22,279) (127,888) Cash flows from financing activities: Proceeds from short-term bank loans 9,961,479 14,666,970 Repayments of short-term bank loans (9,399,183) (14,638,095) Proceeds from loans payable to third-parties - 746,000 Repayments from loans payable to third-parties - (746,000) Proceeds from banker's acceptance notes payable - 2,965,200 Repayment of banker's acceptance notes payable (1,543,465) (1,425,200) Proceeds from borrowings from related parties 3,176,805 6,299,295 Repayment of related party borrowings (1,978,854) (4,568,244) Payment for deferred IPO costs - (312,527) Proceeds from sale of common stock 116,902 - Net cash provided by financing activities 333,684 2,987,399 ICZOOM GROUP INC. AND ITS SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS — (Continued) For the six months ended December 31, 2024 2023 Effect of exchange rate fluctuation on cash and restricted cash (1,584,647) (1,568,816) Net increase in cash and restricted cash 190,898 264,474 Cash and restricted cash at beginning of period 5,484,960 6,413,367 Cash and restricted cash at end of period $ 5,675,858 $ 6,677,841 Supplemental cash flow information Cash paid for income taxes $ (5,006) $ (98,451) Cash paid for interest $ (696,908) $ (351,806) Supplemental disclosure of non-cash information Right-of-use assets obtained in exchange for operating lease obligations $ - $ 105,613 SOURCE ICZOOM Group Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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