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Aug 31, 2024
VOXX Q2 2025 Earnings Report
Reported a net income of $2.4 million and made progress in restructuring and debt reduction.
Key Takeaways
VOXX International Corporation reported a net income of $2.4 million for the second quarter of fiscal year 2025, compared to a net loss of $11.1 million in the same quarter last year. The company has focused on restructuring, reducing debt by over $50 million since year-end, and exploring strategic alternatives to maximize shareholder value.
Net sales decreased by 18.6% to $92.5 million compared to the prior year.
The company sold its domestic accessory business and select non-core assets for approximately $28 million.
Total debt reduced to under $20 million, with net debt under $15 million.
Strategic alternatives being explored to maximize shareholder value.
VOXX
VOXX
VOXX Revenue by Segment
Revenue by Segment
Automotive Electronics Revenue
CapyFin.comConsumer Electronics Revenue
CapyFin.com Forward Guidance
VOXX is focused on returning to profitability through restructuring programs, OEM relocation, supply chain management, and new product introductions, aiming to offset economic and business environment challenges.
Positive Outlook
- Restructuring programs are expected to positively impact the second half of Fiscal 2025 results.
- OEM manufacturing transition to Mexico is nearing completion.
- Strong management of the supply chain.
- New programs and products are expected to contribute to profitability.
- Company is taking actions to control costs and offset economic challenges.
Challenges Ahead
- Sales need to materialize in the second half of the year as planned.
- Potential challenges from the economy and business environment.
- Decline in premium audio product sales due to fewer close-out sales and lower consumer spending.
- Decline in European accessory product sales.
- Market continues to deal with inflated vehicle pricing and high interest rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income