For the years ended December 31, 2024 and 2023, the Company had two major suppliers, Supplier A and Supplier B, each accounting for 10% or more of the cost of revenue. In 2024, Supplier A accounted for 20% and Supplier B for 79% of the cost of revenue, totaling 99%. In 2023, Supplier A accounted for 18% and Supplier B for 80%, totaling 98%. Outstanding balances to these suppliers were $1,068,099 and $1,695,698 respectively in 2024, and $797,932 and $1,083,511 respectively in 2023. The cost of revenue decreased by 10.8% in 2024 compared to 2023, primarily due to reductions in rental of platform server costs, network bandwidth expenses, and direct labor costs.
Leet Technology Inc's Comment on Supply Chain
For the years ended December 31, 2024 and 2023, the Company had two major suppliers, Supplier A and Supplier B, each accounting for 10% or more of the cost of revenue. In 2024, Supplier A accounted for 20% and Supplier B for 79% of the cost of revenue, totaling 99%. In 2023, Supplier A accounted for 18% and Supplier B for 80%, totaling 98%. Outstanding balances to these suppliers were $1,068,099 and $1,695,698 respectively in 2024, and $797,932 and $1,083,511 respectively in 2023. The cost of revenue decreased by 10.8% in 2024 compared to 2023, primarily due to reductions in rental of platform server costs, network bandwidth expenses, and direct labor costs.
Sources:
Leet Technology Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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