J-Star (NASDAQ:YMAT), a company specializing in rackets and technical services, reported unaudited financial results for the six months ended June 30, 2025, showing strong revenue growth of 30.7%, reaching $10.6 million compared to $8.1 million in the same period of 2024.
This growth was primarily driven by a surge in racket sales and technical services, though gross margin decreased to 26.9% from 30.2%, as the company shifted its business model in the racket segment.
Operating income stood at $154,000, with a modest profit after tax of $5,000.
Operating expenses rose by 47.6% due to costs associated with the company’s IPO and increased research and development (R&D) activities.
J-Star also completed a successful $5 million initial public offering (IPO) in July 2025 and reported cash and cash equivalents of $909,995 as of June 30, 2025, positioning the company for continued growth.
The company has announced several exciting developments, including the launch of its own pickleball brand, with two new paddles named Horizon and Supernova.
Additionally, J-Star introduced a new premium bicycle component brand, QO Bikes, and revealed plans to build manufacturing capacity in the U.S., specifically in Texas, to meet growing demand and expand its operational footprint.