Datasea Expects FY25 Revenues To Surge By 275%

(RTTNews) - Datasea Inc. (DTSS) Tuesday said it expects revenue for the fiscal year 2025 to be about $90.0 million.

This represents an increase of $66.0 million, or 275.0%, compared to full-year revenue of $24.0 million in fiscal year 2024.

As of October 31, 2024, Datasea achieved approximately $31.7 million in revenue for the first four months of fiscal 2025, which comprises previously disclosed first quarter revenue of $21.1 million and revenue of $10.6 million generated in October 2024.

Datasea CEO Zhixin Liu commented, "Our preannouncement of $90 million in revenue for fiscal 2025 is primarily due to strong results that we expect from our 5G digital applications business. This segment has exhibited robust growth for the first four months of fiscal 2025 driven by a series of large contracts, and we anticipate that this momentum will continue. As we penetrate additional verticals and continue to expand our footprint geographically, we believe that operating synergies will emerge that will rationalize our new business efforts and create improved operating profit."