Millennium Group International (MGIH) H1 2025 earnings summary

Executive summary

• Revenue for the six months ended December 31, 2025, was $10.9 million, down 23.3% year-over-year, mainly due to lower sales volumes despite higher average selling prices.

• Gross profit declined to $1.2 million (10.7% margin) from $2.9 million (20.2% margin) year-over-year, reflecting volume and margin pressures in packaging and corrugated products.

• Net loss increased to $3.3 million from $3.1 million year-over-year, with loss per share rising to $0.30 from $0.27.

• Management is focused on cost optimization, efficiency improvements, and customer base diversification, while expanding operations in Vietnam and overseas sales efforts.

Financial highlights

• Revenue decreased 23.3% to $10.9 million, driven by a 32% drop in sales volume, partially offset by a 13% increase in average selling price.

• Gross profit margin fell to 10.7% from 20.2% year-over-year.

• Net loss was $3.3 million, up 7.7% from the prior year period.

• Cash and cash equivalents declined 36.3% to $6.9 million as of December 31, 2025.

Outlook and guidance

• Management expects the new Vietnam factory to enhance operational efficiency and supply chain resilience.

• Strategic focus remains on expanding the overseas sales team, especially in the U.S., and growing supply chain management services in Southeast Asia.