Company: EUDAW
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001641172-25-006627
Chunk: 43

Company: EUDA Health Holdings Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 5
Chunk 43
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million for the year ended December 31, 2023. The decrease of net loss from discontinued operations was predominately due to increase
of other income from gain on disposal of several subsidiaries of approximately $2.5 million, and decrease in operating expenses of approximately
$1.6 million in our medical services unit for the year ended December 31, 2024 as compared to the same period in 2023, offset by the
decrease in revenue of approximately $1.0 million which led to decrease in gross profit of approximately $0.2 million. In September 2023,
we have streamlined our medical service operations to minimize any further losses as the demand for our services were much lower in the
post Covid-19 era. As a result, our Board has thoroughly reviewed the then market conditions and strategic considerations, and determined
in early September 2023 that streamlining certain of our medical service units were in the best of our interests and our shareholders.

  29  

Net
Loss

We
had a net loss of approximately $15.4 million and $10.0 million for the years ended December 31, 2024 and 2023, respectively. Changes
of net loss for the year ended December 31, 2024 as compared to the same period in 2023 was predominately due to the reasons as discussed
above.

Fiscal
Year Ended December 31, 2023 Compared to Fiscal Year Ended December 31, 2022

                                                      For the years ended                                                                
                                                             December 31,                                                                
                                                                                                                             Percentage  
                                                                     2023                       Change                           Change  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenue                                                      $3,706,458        3,764,295      $               (57,837            (1.5  
  Cost of revenue                                               2,864,383        2,894,296      $               (29,913            (1.0  
  Gross profit                                                    842,075          869,999      $               (27,924            (3.2  
  Selling expenses                                                533,562          935,565      $              (402,003           (43.0  
  General and administrative expenses                           4,269,567        5,815,046      $            (1,545,479           (26.6  
  Earnout share payment                                                 -        5,199