First Half Fiscal Year 2025 Revenue up 13.1% to $16.4 Million Period over Period Accelerating Enterprise AI Adoption Fuels Market Expansion, Unlocking New Opportunities in AI-Powered Customer Engagement Management to Host Conference Call Today, March 31, 2025 at 4:30 PM ET SINGAPORE and SAN DIEGO, March 31, 2025 (GLOBE NEWSWIRE) -- Helport AI Limited (NASDAQ: HPAI) ("Helport AI” or the "Company”), an AI technology company serving enterprise clients with intelligent customer communication software and services, today announced financial results for the six months ended December 31, 2024.
General and Administrative Expenses Our general and administrative expenses increased by 125.2% from US$2.0 million for the six months ended December 31, 2023 to US$4.6 million for the six months ended December 31, 2024, which was primarily attributable to: (i) an increase of US$1.5 million in professional service fees such as advisory fees, audit fees and legal fees for overseas listing; (ii) an increase of US$0.4 million in insurance expenses; (iii) an increase of US$0.2 million in payroll expenses resulting from the expansion of the management team’s headcount; and (iv) an increase of US$0.2 million in withholding tax incurred from 10% withholding tax on AI services provided to our customers in China.
HELPORT AI LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(Amounts in and U.S. dollars ("US$”), except share data) For the six months ended December 31, 2024 2023 (unaudited) (unaudited)Revenue$16,406,402 $14,506,363 Cost of revenue (7,440,338) (4,793,021)Gross profit 8,966,064 9,713,342 Selling expenses (528,746) (50,214)General and administrative expenses (4,598,484) (2,042,289)Research and development expenses (1,448,115) (78,757)Total operating expenses (6,575,345 ) (2,171,260) Income from operation 2,390,719 7,542,082 Financial expenses, net (312,437) (19,162)Change in fair value of warrant liabilities (336,136) - Income before income tax expense 1,742,146 7,522,920 Income tax expense (675,252) (1,279,314)Net income$1,066,894 $6,243,606 Total comprehensive income$1,066,894 $6,243,606 Earnings per ordinary share Basic 0.03 0.21 Diluted 0.03 0.21 Weighted average number of ordinary shares outstanding* Basic 35,990,935 30,280,768 Diluted 35,990,935 30,280,768 *Share data have been retroactively restated to give effect to the reverse recapitalization that is discussed in Note 1 to the unaudited condensed consolidated financial statements.
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