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VSME Nasdaq· Vs Media Holdings Ltd
Earnings report Q4 2023

VSME Reports Decrease in Revenue for the Six Months Ended June 30, 2023

Segments of revenue

VSME's revenue for the six months ended June 30, 2023, amounted to $3.53 million, compared to $4.33 million in the same period last year. The breakdown of revenue by category of activity and geographical market is as follows:

  • Campaign-Based Marketing Services: Generated $1.78 million in revenue, representing 50.47% of total revenue. The majority of this revenue, $1 million, was derived from the Hong Kong SAR market, while $780,000 was generated from Taiwan.
  • Optimization-Based Marketing Services: Accounted for $1.34 million in revenue, contributing 37.94% to the total. The Hong Kong SAR market generated $7,000 in revenue, while the Taiwan market contributed $1.33 million.
  • Social Media Platforms Marketing Services: Generated $409,000 in revenue, representing 11.60% of total revenue. Of this amount, $143,000 was derived from the Hong Kong SAR market, while $266,000 was generated from Taiwan.
  • Social Commerce: Did not generate any revenue during the period.

Strengths

Despite the decrease in overall revenue, VSME's Campaign-Based Marketing Services segment showed growth, with revenue increasing from $1 million in the previous year to $1.78 million in the current period. This growth can be attributed to the successful execution of marketing campaigns in both the Hong Kong SAR and Taiwan markets.

Challenges

VSME faced a decline in revenue compared to the same period last year, primarily due to a decrease in revenue from Optimization-Based Marketing Services. This segment generated only $1.34 million in revenue, compared to $7,000 in the previous year. The company needs to address the challenges faced in this segment to regain growth.

Noteworthy

VSME's revenue decline can be attributed to the decrease in revenue from Optimization-Based Marketing Services, which experienced a significant drop from the previous year. The company should focus on identifying and addressing the factors contributing to this decline to ensure future growth.

Summary

VSME reported a decrease in revenue for the six months ended June 30, 2023, compared to the same period last year. While the Campaign-Based Marketing Services segment showed growth, the overall decline in revenue was primarily driven by a significant decrease in revenue from Optimization-Based Marketing Services. The company should address the challenges faced in this segment to regain growth and ensure future success.

Source documents

Form 6-K  filed on Dec 05, 2023
4 pages scanned

Reference data

Company financials Q4 revenue 1.8M
Analyst estimates Q4 EPS missed by NaN%
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