Tianci International, Inc. Reports Increased Revenues and Expenses in Latest Quarterly Report

Tianci International, Inc., a holding company specializing in electronic components distribution and software services, has reported its latest quarterly financial results. The unaudited interim condensed consolidated financial statements illustrate boosts in both revenues and expenses during the past fiscal year.

Fiscal Year Results

During the nine months ended April 30, 2023, Tianci International recorded a net loss of $322,037, compared to a net loss of $48,473 in the same period in 2022. The increased net loss is attributed to several factors, including growth in operating expenses and changes in sales and revenue streams.

Operating Expenses

Operating expenses totaled $238,876, up from $197,441 during the same period last year. A majority of this increase, of about $35,438, came from general and administrative expenses, which rose to $191,184 from $157,909. Additionally, selling and marketing expenses experienced an increase of $8,160, reaching $47,692 from $39,532 in the previous year.

Revenues

Despite the growth in expenses, Tianci International managed to boost its revenues as well. The company saw an increase in accounts receivable of $622,659 during the nine months ended April 30, 2023, indicating improved customer payments and inflows. Furthermore, the company’s revenue during this period reached $2,451,668, up from $1,500,000 in the same timeframe in 2022.

Software and Website Development Services

A key driver of the company’s increased revenue is its focus on software and website development services. By developing customized freight shipping and logistics software, the company has been able to generate more revenue by delivering fully developed, tested, and customer-accepted software projects. Revenue from these contracts is recognized when services are fully rendered, and written acceptances have been received from customers.

Expanded Offerings

Additionally, the company has expanded its offerings in technical consulting, training services, and software maintenance. These services provide customers with ongoing support for the use and implementation of the software, further boosting the company’s predictable revenue stream.

Cash Balance

Tianci International’s cash balance at the end of the nine-month period stood at $263,069, a significant increase from the $18,649 held at the same point in 2022. This improved cash position highlights the company’s financial strength, despite the overall net loss reported for the period.

Futures Outlook

The latest financial report for Tianci International, Inc. demonstrates a period of growth in both revenues and expenses. The increased focus on software services and expansion of offerings has led to higher operating expenses, but it has also driven more revenue and improved cash flow. It will be interesting to see how these figures change in future reporting periods as the company continues to innovate and refine its business model.