Plover Bay Technologies Full Year 2024 Earnings: Revenues Beat Expectations, EPS In Line

Simply Wall St

March 23, 2025

Plover Bay Technologies (HKG:1523) Full Year 2024 Results

Key Financial Results

Revenue: US$116.8m (up 24% from FY 2023).
Net income: US$38.0m (up 35% from FY 2023).
Profit margin: 33% (up from 30% in FY 2023). The increase in margin was driven by higher revenue.
EPS: US$0.035 (up from US$0.026 in FY 2023).

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revenue-and-expenses-breakdown — SEHK:1523 Revenue and Expenses Breakdown March 23rd 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

Plover Bay Technologies Revenues Beat Expectations

Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) was mostly in line with analyst estimates.

The primary driver behind last 12 months revenue was the Sales of SD-WAN Routers - Mobile First Connectivity segment contributing a total revenue of US$66.2m (57% of total revenue). The largest operating expense was Research & Development (R&D) costs, amounting to US$8.50m (33% of total expenses). Explore how 1523's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Communications industry in Asia.

Performance of the market in Hong Kong.

The company's shares are up 1.6% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Plover Bay Technologies.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.