VOXX International Corporation Reports Net Loss for the Year Ended February 28, 2023

VOXX International Corporation, Inc.(VOXX) a leading manufacturer and distributor of consumer electronics and automotive technologies, has released its consolidated financial statements for the year ended February 28, 2023. The company reported a net loss for the fiscal year, reflecting challenging market conditions and various factors affecting its operations. Additionally, the company experienced a decline in revenue compared to the previous year. Let's delve into the details of VOXX International Corporation's financial performance.

Net Income/Loss

During the fiscal year ended February 28, 2023, VOXX International Corporation recorded a net loss of $30.9 million. This marks a significant decrease compared to the previous year's net loss of $27.5 million. The company's net loss can be attributed to several factors, including increased operating expenses and impairment charges. Despite ongoing efforts to improve profitability, the company faced headwinds that affected its overall financial performance.

Revenue