- iFabric Corp (IFABF, Financial) reports Q1 2025 revenue of $7.08 million, representing a 5% year-over-year increase.
- The Intelligent Fabrics Division revenue increased by 25%, while the Intimate Apparel Division saw a 40% decline.
- Net earnings fell to $88,458 from $550,596 in Q1 2024, as gross margins decreased to 39%.
iFabric Corp (IFABF) has announced record revenues for the first quarter of 2025, totaling $7.08 million. This marks a 5% increase from the $6.75 million reported in the same period last year. The company's Intelligent Fabrics Division was a significant contributor to this growth, generating $5.82 million in revenue—a 25% increase compared to Q1 2024. In contrast, the Intimate Apparel Division's revenue decreased by 40% to $1.25 million due to the lack of new programs launched this quarter.
Despite the revenue boost, net earnings saw a decline, dropping to $88,458 ($0.003 per share) from $550,596 ($0.018 per share) in Q1 2024. This decrease was primarily due to a reduction in gross profit margins, which fell to 39% from the previous year's 44%. Increased U.S. tariffs on Chinese imports, now at 30%, have affected 23% of total revenue, contributing to the cost pressures faced by iFabric.
Nonetheless, iFabric's cash position was bolstered to $5.64 million, and their bank operating line expanded to $12 million, offering substantial financial flexibility. Management remains optimistic about the rest of the year, anticipating sustained momentum and new product segments launching later in 2025, despite regulatory expenses and potential tariff implications.
