May 16, 2025

Dolphin Cove Limited (DCOVE)

Unaudited financials for the first quarter ended March 31, 2025:

All figures are stated in USD unless otherwise indicated

Dolphin Cove Limited (DCOVE) for the first quarter ended March 31, 2025, reported a 17% decrease in total revenue totalling $4.08 million compared to $4.90 million in the corresponding three months last year.

Direct costs amounted to $542,884 (2024: $553,505), this represents a decrease of 2% year over year. Consequently, gross profit decreased by 19% to $3.54 million compared to $4.35 million for the first quarter ended March 31, 2024.

Selling expenses decreased by 19% to close at $856,822 (2024: $1.06 million), while administrative expenses decreased by 12% from $678,181 in 2024 to $599,489 for the three months. As a result, Total Expenses for the first quarter amounted to $2.45 million, a 10% decrease relative to $2.73 million reported in 2024.

Profit before finance income and costs for the three months amounted to $1.10 million, a 38% decrease relative to $1.76 million reported in 2024.

Pre-tax profit for the three months had a 60% decrease to reach $117,115 (2024: $295,499). Net Profit for the three months amounted to $859,290, a 38% decrease from the $1.38 million reported in 2024.

Consequently, Earnings Per Share for the three months amounted to $0.0022 (2024: EPS: $0.0035). The twelve-month trailing EPS was $0.53, and the number of shares used in these calculations was 392,426,376.

Notably, DCOVE’s stock price closed the trading period on May 16, 2025, at a price of $12.09 with a corresponding P/E ratio of 22.93x.

Balance Sheet Highlights

The company’s total assets remained steady at $37.950 million (2024: $37.946 million). Amounts due from related parties saw a significant increase, rising to $2.05 million in 2025 from $782,365 in 2024.

Shareholders’ equity was $31.60 million (2024: $31.79 million), representing a book value per share of $0.08 (2024: $0.08).

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