Company: STAK
Filing Date: 2025-11-05
Form Type: 20-F
Source: 0001493152-25-020818
Chunk: 86

Company: STAK Inc.
Filing Date: 2025-11-05
Form: 20-F
Item: Item 5
Chunk 86
---
 million, or 549.45%, to $1.8 million for the year ended June 30, 2024 from $0.3 million for the year ended June 30, 2023. The increase was mainly driven by the increased demand as a result of our cultivating positive word-of-mouth recommendations within the oilfield industry and a good reputation in the market. We are not expecting to achieve such growth in service income from automation solutions continuously as we are going to focus our research and development efforts on our own vehicle products.
 
Other revenue primarily derives from sales of parts and materials, such as integrated circuits, box iron and backlight panel, etc. Our revenue generated from others increased by $2.28 million, or 383.74%, to $2.87 million for the year ended June 30, 2024 from $0.59 million for the year ended June 30, 2023, which was primarily attributable to the sales of intelligent chassis parts of $2.83 million for the year ended June 30, 2024. We are not expecting to achieve such growth in other revenues continuously.
 
Cost of revenues
 
Cost of revenues consists primarily of manufacturing and purchase cost of raw materials, depreciation, maintenance, and other overhead expenses. Our cost of revenues decreased by $1.2 million, or 7.93%, to $13.2 million for the year ended June 30, 2024 from $14.4 million for the year ended June 30, 2023. The decrease in cost of revenue was mainly due to the decrease in revenues of 10.53%.
 
Gross profit and gross profit margin
 

                                                       For the years ended June 30, 2024                                For the years ended June 30, 2023                  
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                           Gross profit                           Gross profit margin       Gross profit                           Gross profit margin     
Sales of specialized oilfield equipment    $2,982,107                                           33.59   %   $5,029,953                                           36.14    %
Sales of specialized oilfield vehicles              1,522,957                                   28.17   %            1,630,946                                   25.64    %
Service income from automation solutions              796,042                                   45.15   %              107,979                                   39.78    %
Others                                                372,570                                   12.98   %               (7,907       )                           (1.33   )%
Total gross profit