Short answer
Envela Corp (ELA) filed its fiscal 2024 10-K annual report with the SEC on Mar 26, 2025. It reported revenue of $180M (+2.9% year over year) and net income of $7M.
- Top risk flagged: Regulatory risk: SEC AML compliance program for retail buying under USA PATRIOT Act, failure may cause fines and reputational harm
FY2024 key financial metrics · XBRL
- Revenue
- $180M
- +2.9% YoY
- Net income
- $7M
- −5.5% YoY
- Operating margin
- 4.5%
- −0.5 pp YoY
- Gross margin
- 24.6%
- +0.8 pp YoY
- EPS (diluted)
- $0.26
- −3.7% YoY
- ROE
- 12.8%
- −2.0 pp YoY
- Operating cash flow
- $10M
- +74.4% YoY
Source: XBRL data from the Envela Corp (ELA) FY2024 10-K on SEC EDGAR. USD.
Envela Corp FY2024 10-K analysis
AI summary of each section, grounded in the filing text
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
Generated from the filing text; verify against the original. How to read a 10-K
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