First Half Revenue of $45,118
Prepaid subscription fees received from customers for our SaaS service were $1.5 Million.
HONG KONG, Aug. 13, 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 three and six months ended June 30, 2025.
Operational and Financial Highlights for the Three and Six Months Ended June 30, 2025
- Net sales for the three months ended June 30, 2025 were $44,993, a significant increase from
$125 for the three months ended March 31, 2025. The increase in net sales was primarily a result of the Company’s strategic transition from legacy hardware operations to software-as-a-service (“SaaS”) solutions, with a new focus on integrating artificial intelligence and data analytics into content creation and brand management. The Company secured its first customer orders and generated initial sales, marking a critical milestone in the strategic pivot. Net sales for the six months ended June 30, 2025 were $45,118, down from $639,893 year-over-year, which was primarily due to our strategic business transformation. - As of June 30, 2025, the Company onboarded 245 customers, representing a considerable increase compared to 1 new customer upon launching its SaaS services on March 28, 2025, illustrating the early traction of our new SaaS products. Prepaid subscription fees received from customers for our SaaS service were $1.5 million which highlights the early traction of our SaaS offerings.
- Gross profit for the six months ended June 30, 2025 was $438, down from $207,259 for the six months ended June 30, 2024, which was primarily due to our strategic business transformation.
- Net loss for the six months ended June 30, 2025 was $1,013,590 representing a significant improvement as compared to a net loss of $3,746,867 in the first half of 2024. The narrowing of our net loss highlights the early success of our strategic transition.
- Net cash provided by operating activities for the six months ended June 30, 2025 was $171,955, comparing with the cash used from operating activities of $2,878,506 in the first half of 2024.
Rafael Li, Chief Executive Officer of FiEE, commented, “FiEE has been undergoing a strategic transition from legacy hardware operations to redefine brand management solutions in the digital era. We are glad to present the first financial statement after the strategic transformation. Despite being at the early stage of the transition, we have seen several encouraging figures, showing that our hardship has paid off and resulted in early successes. First, we have achieved new customers adopting our SaaS solution in the second quarter. Prepaid subscription fees received from customers for our SaaS service were $1.5 million, which marked a significant milestone for our new business. We anticipate adding additional customers in the near future with increasingly sophisticated product offerings. In addition, we have greatly reduced our net loss in the first half of 2025, as a result of our strengthened cost management and new business development.”
Mr. Li further mentioned, “New growth areas required upfront capital associated with market entry and product deployment. To accelerate our growth, we have recently acquired advanced technologies including product authentication featuring systematic algorithmic verification and certification, high-efficiency file transfer systems and KYC solutions for robust and efficient data protection, powering our SaaS products. We are providing comprehensive protection for original creations, digital arts, NFTs, and exclusive content, aiming to cultivate an expansive KOL community. This marks an exciting development for our Company, and we are confident in our path towards sustainable growth and enduring value.”
Financial Results for the Six Months Ended June 30, 2025
Net Sales were $45,118, compared to $639,893 in the same period of fiscal year 2024.
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Net Sales
|
Six Months Ended |
% |
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|
June 30 2025 |
June 30 2024 |
change |
||||
|
$ |
$ |
YoY |
||||
|
Product sales |
||||||
|
• Cable modems & gateways |
– |
638,804 |
(100 %) |
|||
|
• Other network products |
– |
1,089 |
(100 %) |
|||
|
• SaaS – MCN digital services |
45,118 |
– |
N/A |
|||
|
Total |
45,118 |
639,893 |
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