Company: STAK
Filing Date: 2025-11-05
Form Type: 20-F
Source: 0001493152-25-020818
Chunk: 82

Company: STAK Inc.
Filing Date: 2025-11-05
Form: 20-F
Item: Item 5
Chunk 82
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 ended June 30, 2024. We sold chassis parts of $2.8 million for the year ended June 30, 2024. We planned the sales was in one-time and unsustainable based on our customer’s demand for the years ended June 30, 2025 and 2024.
 

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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 increased by $4.0 million, or 30.05%, to $17.2 million for the year ended June 30, 2025 from $13.2 million for the year ended June 30, 2024. The increase in cost was mainly due to the increase in revenues of 31.69%.
 
Gross profit and gross profit margin
 

                                                        For the year ended June 30, 2025                                  For the year ended June 30, 2024                 
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                                           Gross profit                           Gross profit margin        Gross profit                           Gross profit margin    
Sales of specialized oilfield equipment    $3,760,783                                           31.47    %   $2,982,107                                           33.59   %
Sales of specialized oilfield vehicles              3,434,999                                   31.49    %            1,522,957                                   28.17   %
Service income from automation solutions              596,336                                   33.84    %              796,042                                   45.15   %
Others                                               (102,249       )                          (35.11   )%              372,570                                   12.98   %
Total gross profit                         $7,689,869                                           30.86    %   $5,673,676                                           29.99   %
 
Gross profit increased by $2.0 million, or 35.54%, to $7.7 million for the year ended June 30, 2025 from $5.7 million for the year ended June 30, 2024. Gross profit margin remained steady with a slightly increased from 29.99% for the year ended June 30, 2024 to 30.86% for the year ended June 30, 2025. The increase in both gross profit and gross profit margin was mainly driven by higher margin achieved in sales of specialized oilfield vehicles, which was partially offset by the decreasing sales of specialized oilfield equipment.