Envela Corp (ELA) FY2024 10-K Annual Report
Envela Corp (ELA) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Mar 26, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Envela Corp FY2024 10-K Analysis
Business Overview
- • Core business model: Recycling and recommerce services extending product lifespan across luxury goods and electronic asset disposition
- • New emphasis on physical retail expansion in consumer segment with 5 new stores under Four Nines brand and in-store Bijoux Exchange buying platform in FY 2024
- • Strategic shift in commercial segment toward unified systems, business intelligence, and diversification into fee-for-service models for IT asset management by FY 2024
- • Employee count increased to 309 in FY 2024 from 289 in FY 2023, supporting growth initiatives
- • Noteworthy acquisition of bespoke jewelry fabricator assets in Scottsdale in September 2024, enhancing consumer segment capabilities
Management Discussion & Analysis
- • Revenue $180.4M, up 3% YoY from $175.3M; Consumer $130.5M (+1%) and Commercial $49.9M (+9%)
- • Operating income $8.16M, down 7% YoY from $8.76M; Consumer $0.15M vs $4.68M, Commercial $8.01M vs $4.07M
- • Best segment Commercial: operating income $8.01M on $49.9M sales; worst Consumer: operating income $0.15M on $130.5M sales
- • Capex $3.76M, up 68% YoY from $2.24M; includes $3.16M Consumer, $0.14M Commercial, $0.45M Corporate; no buyback/dividend info
- • Management highlights evolving fee-for-service revenue and ongoing evaluation of new accounting standards; no explicit future guidance provided
Risk Factors
- • Regulatory risk: SEC AML compliance program for retail buying under USA PATRIOT Act, failure may cause fines and reputational harm
- • Macroeconomic threat: sustained high interest rates increasing borrowing costs, potentially hindering financing or refinancing debt
- • Operational risk: dependence on key client relationships, loss or unfavorable contract renewals could materially impact financials
- • Competitive risk: rising consumer acceptance of lab-grown diamonds at lower price points may reduce financial results
- • Financial risk: stock ownership concentration with CEO owning 73.8% combined shares (49.3% + 24.5%) risks governance and control issues
Envela Corp FY2024 Key Financial MetricsXBRL
Revenue
$180M
▲ +2.9% YoY
Net Income
$7M
▼ -5.5% YoY
Gross Margin
24.6%
▲ +80bp YoY
Operating Margin
4.5%
▼ -47bp YoY
Net Margin
3.7%
▼ -33bp YoY
ROE
12.8%
▼ -196bp YoY
Total Assets
$78M
▲ +6.0% YoY
EPS (Diluted)
$0.26
▼ -3.7% YoY
Operating Cash Flow
$10M
▲ +74.4% YoY
Source: XBRL data from Envela Corp FY2024 10-K filing on SEC EDGAR. All figures in USD.
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