Company: STAK
Filing Date: 2025-11-05
Form Type: 20-F
Source: 0001493152-25-020818
Chunk: 80

Company: STAK Inc.
Filing Date: 2025-11-05
Form: 20-F
Item: Item 5
Chunk 80
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605   )              (320.11   )%
Income tax benefit (expense)                               269,962                        (276,189    )                   (715,040   )              546,151                  (197.75   )%
Net (loss) income                              $(5,712,680            )                 $2,441,774                      $3,460,462       $(8,154,454          )              (333.96   )%

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Comparison of Years Ended June 30, 2025 and 2024
 
Revenues
 
A detailed breakdown of revenues for the years ended June 30, 2025 and 2024 is set forth below:
 

                                                           For the Years Ended June 30,                                Variance                     
----------------------------------------------------------------------------------------------------------------------------------------------------
                                           2025                            2024                       Amount                                  %     
Sales of specialized oilfield equipment               $11,952,061                        $8,877,804   $3,074,257                          34.63    %
Sales of specialized oilfield vehicle                  10,909,211                         5,406,586            5,502,625                 101.78    %
Service income from automation solutions                1,762,092                         1,763,018                 (926   )              (0.05   )%
Others                                                    291,254                         2,871,439           (2,580,185   )             (89.86   )%
Total                                                 $24,914,618                       $18,918,847   $5,995,771                          31.69    %
 
Our revenues for the years ended June 30, 2025 and 2024 were $24.9 million and $18.9 million, respectively. The 31.69% increase in revenues was mainly driven by the increase in demand and average sales price for specialized oilfield equipment and increase in average sales price for specialized oilfield vehicles and partially offset by the decrease in demand for sales of raw materials and parts.
 
Sales of specialized oilfield equipment increased by $3.1 million, or 34.63%, to $12.0 million for the year ended June 30, 2025 from $8.9 million for the year ended June 30, 2024. The increase was mainly due to our decision to expand production capacity of higher-pricing specialized oilfield equipment in order to allocate more resources towards research and development for our new specialized oilfield equipment products with higher