Revenue growth remains inconsistent with a recent 11.3% year-over-year increase, yet profitability is hampered by a gross margin decline to 26.9% and an operating margin of -0.4%.
| Sales/Revenue | 155.25M | 149.83M | 150.22M | 142.13M | 141.5M | 132.79M | 115.44M | 106.33M | 75.39M |
| Revenue Growth % | 3.62% | -0.26% | 5.69% | 0.44% | 6.56% | 15.03% | 8.57% | 41.04% | - |
| Cost of Goods Sold | 109.56M | 97.54M | 91.25M | 87.11M | 92.72M | 84.36M | 68.38M | 80.78M | 56.65M |
| COGS % of Revenue | 70.57% | 65.1% | 60.74% | 61.29% | 65.52% | 63.53% | 59.23% | 75.98% | 75.15% |
| Gross Profit | 45.68M | 52.29M | 58.97M | 55.02M | 48.78M | 48.43M | 47.06M | 25.54M | 18.73M |
| Gross Margin % | 29.43% | 34.9% | 39.26% | 38.71% | 34.48% | 36.47% | 40.77% | 24.02% | 24.85% |
| Gross Profit Growth % | -12.63% | -11.34% | 7.18% | 12.79% | 0.74% | 2.9% | 84.26% | 36.33% | - |
| Operating Expenses | 56.53M | 45.39M | 46.24M | 43.69M | 45.66M | 44.32M | 37.08M | 15.46M | 12.1M |
| OpEx % of Revenue | 36.41% | 30.29% | 30.78% | 30.74% | 32.27% | 33.38% | 32.12% | 14.54% | 16.05% |
| Selling, General & Admin | 47.21M | 39.17M | 39.61M | 36.91M | 40.24M | 39.43M | 33.62M | 11.94M | 9.67M |
| SG&A % of Revenue | 30.41% | 26.14% | 26.37% | 25.97% | 28.44% | 29.69% | 29.13% | 11.23% | 12.83% |
| Research & Development | 9.82M | 6.22M | 6.64M | 6.78M | 5.42M | 4.89M | 3.46M | 3.07M | 2M |
| R&D % of Revenue | 6.32% | 4.15% | 4.42% | 4.77% | 3.83% | 3.68% | 3% | 2.89% | 2.65% |
| Other Operating Expenses | -496K | 0 | 0 | 0 | 0 | 0 | 0 | 450K | 438K |
| Operating Income | -10.85M | 6.9M | 12.73M | 11.33M | 3.13M | 4.1M | 9.98M | 10.08M | 6.63M |
| Operating Margin % | -6.99% | 4.6% | 8.47% | 7.97% | 2.21% | 3.09% | 8.65% | 9.48% | 8.8% |
| Operating Income Growth % | -257.28% | -45.82% | 12.31% | 262.39% | -23.81% | -58.88% | -0.96% | 51.96% | - |
| EBITDA | -7.38M | 9.28M | 15.26M | 13.73M | 5.65M | 6.57M | 10.95M | 12.76M | 9.17M |
| EBITDA Margin % | -4.75% | 6.19% | 10.16% | 9.66% | 3.99% | 4.95% | 9.49% | 12% | 12.17% |
| EBITDA Growth % | -179.55% | -39.2% | 11.17% | 142.93% | -13.97% | -40.03% | -14.17% | 39.13% | - |
| D&A (Non-Cash Add-back) | 3.46M | 2.38M | 2.53M | 2.4M | 2.52M | 2.46M | 972K | 2.68M | 2.54M |
| EBIT | -6.08M | 7.7M | 9.15M | 8.57M | 6.11M | 5.7M | 9.98M | 11.15M | 8.7M |
| Net Interest Income | 279K | -175K | -540K | -1.2M | -1.18M | -1.09M | -2.32M | -1.79M | -2.33M |
| Interest Income | 279K | 0 | 0 | 0 | 0 | 0 | 0 | 805K | 708K |
| Interest Expense | 0 | 175K | 540K | 1.2M | 1.18M | 1.09M | 2.32M | 2.6M | 3.04M |
| Other Income/Expense | 4.77M | 632K | -4.11M | -3.95M | 1.8M | 504K | 16K | -1.55M | -972K |
| Pretax Income | -6.08M | 7.53M | 8.61M | 7.38M | 4.93M | 4.61M | 10M | 8.53M | 5.66M |
| Pretax Margin % | -3.92% | 5.02% | 5.73% | 5.19% | 3.48% | 3.47% | 8.66% | 8.02% | 7.51% |
| Income Tax | 2.17M | 414K | 840K | 139K | 7K | 374K | 684K | 932K | 835K |
| Effective Tax Rate % | -35.75% | 5.5% | 9.75% | 1.88% | 0.14% | 8.12% | 6.84% | 10.93% | 14.75% |
| Net Income | -8.25M | 7.11M | 7.77M | 7.24M | 4.92M | 4.23M | 9.31M | 7.59M | 4.83M |
| Net Margin % | -5.32% | 4.75% | 5.17% | 5.09% | 3.48% | 3.19% | 8.07% | 7.14% | 6.4% |
| Net Income Growth % | -216% | -8.49% | 7.36% | 47.14% | 16.23% | -54.54% | 22.65% | 57.37% | - |
| Net Income (Continuing) | -8.25M | 7.11M | 7.77M | 7.24M | 4.92M | 4.23M | 9.31M | 7.59M | 4.83M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.15 | 0.13 | 0.14 | 0.13 | 0.09 | 0.07 | 0.16 | 0.13 | 0.09 |
| EPS Growth % | -215.38% | -7.14% | 7.69% | 49.6% | 16.18% | -53.25% | 23.08% | 52.94% | - |
| EPS (Basic) | -0.15 | 0.13 | 0.14 | 0.13 | 0.09 | 0.07 | 0.16 | 0.13 | 0.09 |
| Diluted Shares Outstanding | 54.68M | 52.9M | 53.88M | 56.63M | 56.63M | 56.63M | 56.63M | 56.63M | 56.63M |
| Basic Shares Outstanding | 54.68M | 52.9M | 53.88M | 56.63M | 56.63M | 56.63M | 56.63M | 56.63M | 56.63M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
OEM Firmware and Trade Policy
According to the latest quarterly financial data, YIBO's revenue growth has exhibited significant inconsistency, with the most recent 11.3% year-over-year increase failing to mask a broader trend of stagnation that suggests the company is struggling to capture meaningful market share in a highly competitive consumables landscape.
The erratic revenue performance indicates that the company's reliance on the compatible printer cartridge market is subject to intense cyclical pressures and external demand shocks. Investors should monitor whether this recent growth spike is a sustainable recovery or merely a temporary fluctuation driven by inventory restocking cycles.
As reported in recent income statements, YIBO's gross margin has contracted from historical peaks above 40% to a recent low of 26.9%, reflecting the intense pricing competition and rising input costs inherent in the low-value-density compatible toner market segment.
This compression suggests that the company lacks the pricing power to pass on increased logistics and raw material costs to its end-users. The inability to maintain higher margins implies that the business model is increasingly vulnerable to the aggressive pricing strategies of larger, vertically integrated competitors.
Based on the provided financial figures, YIBO's operating income has deteriorated into negative territory, with the most recent quarter showing an operating margin of -0.4%, demonstrating that the company has failed to achieve the necessary scale to cover its fixed and variable operating expenses.
The lack of positive operating leverage suggests that SG&A expenses are not scaling efficiently with revenue growth, likely due to high customer acquisition costs in the e-commerce channel. This trend warrants further investigation into whether the current cost structure is fundamentally misaligned with the company's revenue generation capacity.
Analysis of the company's cost structure reveals that SG&A expenses, which reached $19.9 million in the most recent quarter, continue to outpace the gross profit generated, indicating a persistent lack of expense discipline that prevents the company from achieving consistent bottom-line profitability.
The high proportion of SG&A relative to gross profit suggests that the company is over-investing in marketing and platform fees to maintain its market position. Without a significant reduction in these costs or a shift toward higher-margin products, the company may continue to face persistent earnings volatility.
While the company maintains a clean balance sheet, the persistent negative net income, as evidenced by the -0.3% net margin in the latest quarter, raises significant questions regarding the long-term viability of its current e-commerce-centric business model in the face of OEM firmware aggression.
Short-sellers would likely focus on the company's inability to generate consistent cash flow despite its established brand presence. The risk of sudden inventory obsolescence due to OEM technical updates remains a critical threat that could further impair the company's already strained financial performance.
Quick answers to the most common questions about buying YIBO stock.
For fiscal year 2025, Planet Image International Limited Class A Ordinary Shares (YIBO) reported total revenue of $155.2M. This represents a 105.9% increase compared to $75.4M in 2017.
Planet Image International Limited Class A Ordinary Shares (YIBO) reported a net loss of $8.3M for the fiscal year ending 2025.
Planet Image International Limited Class A Ordinary Shares (YIBO) reported an operating income of $-10.8M, resulting in an operating profit margin of -7.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Planet Image International Limited Class A Ordinary Shares (YIBO) generated $45.7M in gross profit for the year, representing a gross profit margin of 29.4%. This demonstrates the company's core pricing power and production efficiency.