Wetouch Technology Inc. Reports FY2024 Revenue of $42.<a href="https://laohu8.com/S/MMM">3M</a>, Net Income of $6.0M; Provides FY2025 Guidance with Revenue of $46.15M and Net Income of $11.88M
WeTouch Technology Inc. has reported its financial results for the fiscal year ended December 31, 2024. The company achieved record revenue of $42.3 million, marking a 6.5% increase from $39.7 million in 2023. This growth was primarily driven by higher shipments in the automotive and gaming applications, supported by an expanded customer base in regions including Japan, South Korea, Europe, and North America. Net income for fiscal year 2024 stood at $6.0 million. Looking ahead, the company has provided guidance for fiscal year 2025, projecting revenue to reach approximately $46.15 million, a 9% increase year-over-year. Net income for 2025 is expected to rise significantly by 97% to approximately $11.88 million. WeTouch specializes in the development and manufacturing of large-format projected capacitive touchscreens, utilized across various sectors such as financial terminals, automotive displays, POS systems, and medical devices. In 2024, international sales accounted for 35.3% of total revenues, up from 30.3% in 2023, highlighting increased market penetration in developed markets like Japan, South Korea, Germany, and the United States. Domestic sales made up 64.7% of total revenues during the same period. The company maintains a cash reserve of $103.7 million, equivalent to $8.7 per share.
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