Fortune Valley Treasures, Inc. income statement FVTI

Annual Quarterly

In fiscal 2023, which ended Dec 31, 2023, Fortune Valley Treasures, Inc. reported revenue of $4.2 million, down 54.1% from the year before. It recorded a net loss of $4.0 million. The operating loss came to $4.2 million, an operating margin of -98.1%. Diluted earnings per share were -$0.26. Over the twelve months ended Jun 30, 2024, revenue was $1.8 million and the net loss was $5.3 million. Across the 6 fiscal years shown, revenue grew from $95,849 in fiscal 2018 to $4.2 million in fiscal 2023, about 113.3% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

Line	FY 2024 Jun 30, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Aug 31, 2017	FY 2016 Aug 31, 2016	FY 2015 Aug 31, 2015
Revenue	2 -78.4%	4 -54.1%	9 +15.1%	8 +60.3%	5 +1718.8%	0 +187.1%	0	—	—	0
Cost of revenue	1 -68.9%	2 -50.9%	5 +25.5%	4 +118.7%	2 +673.9%	0 +365.0%	0	—	—	—
Gross profit	1 -88.1%	2 -57.3%	5 +6.4%	4 +30.9%	3 +5548.3%	0 +19.5%	0	—	—	—
Selling, general and administrative	6 -5.0%	6 +19.9%	5 +117.3%	2 +143.7%	1 +104.1%	0 +39.3%	0 +197.7%	0 +123.2%	0 +4.1%	0
Operating income	-5 -59.3%	-4 -113.2%	-2 -189.5%	2 +169.0%	-3 -729.4%	-0 -42.9%	-0	—	—	—
Interest income	0 -70.1%	0 -70.0%	0 -73.6%	0 +29.2%	0 +269.4%	0 +98.1%	0	—	—	—
Other income (expense)	-0 +22.7%	-0 +10.2%	-0 -158.6%	0 +118.9%	-0 -7058.3%	0 +215.1%	0	—	—	—
Pretax income	-6 -58.7%	-4 -111.9%	-2 -189.1%	2 +166.2%	-3 -784.5%	-0 -42.4%	-0	—	—	—
Income tax	0 -99.8%	0 -48.3%	0 -25.1%	0 -18.9%	0 +374402.4%	-0 -102.9%	0	—	—	—
Net income	-5 -59.9%	-4 -108.3%	-2 -209.2%	2 +154.7%	-3 -761.8%	-0 -43.9%	-0 -147.7%	-0 -123.2%	-0 -4.1%	-0
Basic EPS	-0.34 -59.9%	-0.26 -116.7%	-0.12	—	—	—	—	—	—	—
Diluted EPS	-0.34	-0.26	—	—	—	—	—	—	—	—
Weighted average shares, basic	16 +0.0%	16 +0.0%	16	—	—	—	—	—	—	—
Weighted average shares, diluted	16	16	—	—	—	—	—	—	—	—
Other measures
Depreciation and amortization	0 -56.7%	0 -71.4%	1 -1.9%	1 +207.4%	0 +1633.4%	0 +315.5%	0	—	—	—
EBITDA	-5 -81.1%	-4 -256.7%	-1 -136.0%	3 +206.1%	-3 -688.9%	-0 -38.9%	-0	—	—	—
Interest coverage	—	-108.27x	-62.00x	122.20x	-220.22x	-34,576.64x	-380.67x	—	—	—
Margins
Gross margin	27.27%	46.77%	50.26%	54.38%	66.57%	21.44%	51.49%	—	—	—
Operating margin	-298.00%	-98.10%	-21.11%	27.14%	-63.02%	-138.20%	-277.61%	—	—	—
Pretax margin	-299.18%	-98.54%	-21.34%	27.58%	-66.73%	-137.23%	-276.72%	—	—	—
Profit margin	-287.49%	-95.52%	-21.04%	22.19%	-65.04%	-137.26%	-273.79%	—	—	—
EBITDA margin	-285.22%	-92.35%	-11.88%	37.98%	-57.37%	-132.27%	-273.51%	—	—	—
Effective tax rate	—	—	—	11.25%	—	—	—	—	—	—

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

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Company profile

Industry: Retail-Miscellaneous Retail (SIC 5900)
Listed as: FVTI (OTC)
Fiscal year ends: December 31
Incorporated in: NV
Headquarters: Guangdong Province, China
SEC filer status: Non-accelerated filer, Smaller reporting company
SEC CIK: 1626745
Former names: CRYPTO-SERVICES, INC. (until Mar 2, 2017)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.