Revenue: As of FY2025, the actual value is USD 5.28 M.EPS: As of FY2025, the actual value is USD -0.88.EBIT: As of FY2025, the actual value is USD -3.252 M.<h3>Segment Revenue</h3><ul><li>Consolidated Revenue: Iveda Solutions, Inc. reported consolidated revenue of $5,280,312 for the year ended December 31, 2025, a decrease of -12% from $6,020,639 in 2024.</li><li>US Segment Revenue: The US segment generated $709,197 in revenue in 2025, an -18% decrease from $869,261 in 2024.</li><li>Taiwan Segment Revenue: The Taiwan segment’s revenue was $4,571,115 in 2025, representing an -11% decrease from $5,151,378 in 2024.</li><li>Iveda Taiwan’s operations accounted for 93% of the total revenue in 2025, compared to 71% in 2024.</li></ul><h4>Revenue by Source (YoY Change)</h4><ul><li>Commercial Enterprises: Revenue from Commercial Enterprises was $3,283,536 in 2025, a -30% decrease from $4,675,122 in 2024.</li><li>Distributors: Revenue from Distributors was $517,561 in 2025, a -32% decrease from $762,660 in 2024.</li><li>Municipalities: Revenue from Municipalities was $163,544 in 2025, a -4% decrease from $170,467 in 2024.</li><li>Taiwan Government: Revenue from Taiwan Government was $1,315,671 in 2025, a 311% increase from $319,767 in 2024.</li><li>Other: Other revenue was $0 in 2025, a -100% decrease from $92,625 in 2024.</li></ul><h3>Operational Metrics</h3><ul><li>Consolidated Net Loss: Iveda Solutions, Inc. reported a consolidated net loss of -$3,198,112 in 2025, an improvement from a net loss of -$3,980,820 in 2024.</li><li>Consolidated Gross Profit: Consolidated gross profit was $1,272,872 in 2025, a -2% decrease from $1,301,634 in 2024.</li><li>Consolidated Gross Margin: The consolidated gross margin increased to 24% in 2025 from 22% in 2024.</li><li>US Segment Gross Profit: The US segment’s gross profit decreased by -36% to $163,759 in 2025 from $254,251 in 2024. Its gross margin was 23% in 2025 compared to 29% in 2024.</li><li>Taiwan Segment Gross Profit: The Taiwan segment’s gross profit increased by 6% to $1,109,113 in 2025 from $1,047,383 in 2024. Its gross margin was 24% in 2025 compared to 20% in 2024.</li><li>Consolidated Loss from Operations: The consolidated loss from operations was -$3,226,896 in 2025, an improvement from -$4,070,303 in 2024.</li><li>US Segment Loss from Operations: The US segment’s loss from operations was -$3,325,631 in 2025, an improvement from -$4,102,577 in 2024.</li><li>Taiwan Segment Income from Operations: The Taiwan segment generated $98,735 in income from operations in 2025, a significant increase from $32,274 in 2024.</li><li>Total Operating Expenses: Consolidated operating expenses decreased by -17% to $4,499,768 in 2025 from $5,371,937 in 2024.</li><li>Research and Development (R&amp;D) Expense: R&amp;D expenses decreased by -53% to $170,800 in 2025 from $363,350 in 2024, primarily due to a reduction in the US segment.</li><li>Stock-based compensation expense: Stock-based compensation expense increased to $376,000 in 2025 from $122,600 in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Net Cash Used in Operating Activities: Net cash used in operating activities was -$2,027,501 in 2025, an improvement from -$4,419,748 in 2024.</li><li>Net Cash Used in Investing Activities: Net cash used in investing activities was minimal in 2025 and -$2,608 in 2024.</li><li>Net Cash Provided by Financing Activities: Net cash provided by financing activities was $4,558,106 in 2025, up from $2,260,419 in 2024, primarily due to a $4.9 million At-The-Market (ATM) offering of Common Stock.</li></ul><h3>Unique Metrics</h3><ul><li>Net Operating Loss Carryforwards: As of December 31, 2025, Iveda Solutions, Inc. had approximately $38 million in federal and $12 million in state net operating loss carryforwards available for income tax purposes.</li><li>Customer Concentration: In 2025, four customers accounted for approximately 63% of total revenue, with NATIONAL CHUNG SHAN INSTITUTE OF SCIENCE AND TECHNOLOGY contributing 25%, Taiwan Stock Exchange 15%, Chunghwa Telecom 12%, and SECURITY INTEGRATION &amp; CONSULTANT TECHNOLOGY CO., LTD. 12% (all Taiwan companies).</li><li>Accounts Receivable Concentration: 78% of total accounts receivable as of December 31, 2025, was from four customers: Taiwan Stock Exchange Corporation (29%), MiTAC Advance Technology Corp. (24%), Chunghwa Telecom (10%), and Claro Enterprise Solutions (15%).</li></ul><h3>Outlook / Guidance</h3>Management anticipates that the Company’s existing cash of $5.2 million as of December 31, 2025, combined with an additional $2 million from subsequent equity sales, will fund its current operating plan for at least twelve months from the financial statements’ issuance date. The company is actively working to address identified material weaknesses in internal control, including inadequate segregation of duties and insufficient U.S. GAAP knowledge. While remediation efforts are ongoing, the timeline for their completion remains uncertain.

Iveda Solutions | 10-K: FY2025 Revenue: USD 5.28 M