olivlawolivlaw

olivLaw · US equity research

Dogness (International) Corporation DOGZ

Miscellaneous Manufacturing Industries · SIC 3990 · Vertical: Miscellaneous Manufacturing Industries (SIC 3990)

0.58USD−2.86% · 1 dayClose 05 Nov 2026

Dogness (International) Corporation designs and manufactures pet products, from leashes and collars to smart products connected to a mobile app, selling mainly to markets in the United States and Europe. The company has entered a difficult period: in fiscal 2026 revenue fell 23.3% to 15.9 million USD, amid trade tensions between China and the United States that affect the exports its business depends on.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 05 Nov 2026, Dogness (International) Corporation (DOGZ) stock was 0.58 USD (−2.86% on the day), with market capitalisation 8.7 m USD, dividend yield 0.00%, beta 0.42, 52-week range 0.58–12.62 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
8.7 m USD
shares as of 30 Jun 2018
P/E (TTM)
unavailable
Diluted EPS TTM -1.55 · TTM to 30 Jun 2026
E/P (TTM)
-268.63%
TTM to 30 Jun 2026
Dividend yield
0.00%
DPS 12m 0.00
Beta (2y)
0.42
Volatility (1y) 171%
52-week range
0.5812.62

Price history

Loading chart…

Technical reading

RSI (14)
22.7
oversold (≤ 30)
Bollinger (20, 2)
0.53 – 0.88
in the lower half of the band · %B 0.13 · band width 49.3%
SMA 50 / 200
0.84 / 1.38
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.08 / -0.07
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−34.4%−1.1%−33.3 pp—
3 months−38.1%−0.5%−37.6 pp—
6 months−48.5%+4.4%−52.9 pp—
Year to date−94.6%+12.3%−106.9 pp—
1 year−95.2%+13.5%−108.8 pp+1.6%
3 years−88.6%+76.4%−165.0 pp+41.8%
5 years−99.4%+63.7%−163.0 pp—
Max drawdown (1y)
−95.4%
28 Nov 2025 → 05 Nov 2026
Max drawdown (5y)
−99.7%
05 Jan 2022 → 05 Nov 2026
Compound annual growth (5y)
−63.6%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Quarterly statements · USD

Fiscal yearQ4 '19Q4 '20
Capex7.3 m17.9 m

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year20192020⚠ 202120222023202420252026
Revenue25.9 m19.2 m1.2 m2.2 m1.7 m101.5 k20.7 m15.9 m
Revenue YoY−14.1%−25.9%—+83.2%−23.2%−94.0%+20,310.7%−23.3%
Net income1.4 m-8.4 m1.5 m3.2 m-7.2 m-6.1 m-5.1 m-27.6 m
Net income YoY−69.1%−693.7%—+113.9%−322.5%unavailableunavailableunavailable
Diluted EPS0.05-0.330.050.31-0.68-0.55-0.38-1.55
Diluted EPS YoY−77.3%−760.0%—+520.0%−319.4%unavailableunavailableunavailable
net %5.5%-44.0%125.2%146.2%-423.5%-5,968.9%-24.6%-173.9%
Free cash flow-4.4 m-3.0 m3.0 m-9.1 m-10.4 m-2.7 m-453.1 k-7.9 m

The series breaks before 2021: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.

Reported results vs expectations

Loading…

Balance sheet & financial health

Fiscal year 2026 · 30 Jun 2026

Cash
4.5 m USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
75.0 m USD
Total assets
94.1 m USD
Debt / equity
unavailable
Current ratio
1.12x
ROE
-32.0%
ROA
-26.2%
FCF margin
-49.7%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2024
101.5 k
2025
20.7 m
2026
15.9 m

SEC (XBRL)· 01 Oct 2026verified

Cost of revenue
2024
11.7 m
2025
15.7 m
2026
13.3 m

SEC (XBRL)· 01 Oct 2026verified

Gross profit
2024
3.1 m
2025
5.0 m
2026
2.5 m

SEC (XBRL)· 01 Oct 2026verified

Research & development
2024
610.4 k
2025
1.1 m
2026
956.9 k

SEC (XBRL)· 01 Oct 2026verified

Operating income
2024
-7.5 m
2025
-6.8 m
2026
-28.8 m

SEC (XBRL)· 01 Oct 2026verified

Depreciation & amortisation
2024
2.8 m
2025
2.8 m
2026
2.7 m

SEC (XBRL)· 01 Oct 2026verified

EBITDA
2024
-4.8 m ≈
2025
-4.0 m ≈
2026
-26.1 m ≈

SEC (XBRL)· 01 Oct 2026derived

Interest expense
2024
207.4 k
2025
-80.5 k
2026
-102.0 k

SEC (XBRL)· 01 Oct 2026verified

Pre-tax income
2024
-6.5 m
2025
-6.2 m
2026
-28.8 m

SEC (XBRL)· 01 Oct 2026verified

Income tax
2024
-491.6 k
2025
-1.1 m
2026
-1.2 m

SEC (XBRL)· 01 Oct 2026verified

Net income
2024
-6.1 m
2025
-5.1 m
2026
-27.6 m

SEC (XBRL)· 01 Oct 2026verified

Diluted EPS
2024
-0.55
2025
-0.38
2026
-1.55

SEC (XBRL)· 01 Oct 2026verified

Weighted average diluted shares
2024
10.9 m
2025
13.4 m
2026
17.8 m

SEC (XBRL)· 01 Oct 2026verified

Balance sheet · USD

Cash
2024
7.0 m
2025
12.8 m
2026
4.5 m

SEC (XBRL)· 01 Oct 2026verified

Receivables
2024
2.9 m
2025
1.3 m
2026
1.7 m

SEC (XBRL)· 01 Oct 2026verified

Inventories
2024
3.1 m
2025
2.7 m
2026
1.7 m

SEC (XBRL)· 01 Oct 2026verified

Current assets
2024
16.4 m
2025
17.1 m
2026
8.5 m

SEC (XBRL)· 01 Oct 2026verified

Property, plant & equipment, net
2024
61.3 m
2025
58.3 m
2026
58.3 m

SEC (XBRL)· 01 Oct 2026verified

Intangibles (excl. goodwill)
2024
1.8 m
2025
1.7 m
2026
579.9 k

SEC (XBRL)· 01 Oct 2026verified

Total assets
2024
99.2 m
2025
116.8 m
2026
94.1 m

SEC (XBRL)· 01 Oct 2026verified

Accounts payable
2024
1.3 m
2025
—
2026
—

SEC (XBRL)· 17 Oct 2024verified

Short-term debt
2024
—
2025
—
2026
—

SEC (XBRL)· 12 Oct 2023verified

Long-term debt
2024
—
2025
—
2026
—

SEC (XBRL)· 12 Oct 2023verified

Current liabilities
2024
8.5 m
2025
6.1 m
2026
7.6 m

SEC (XBRL)· 01 Oct 2026verified

Total liabilities
2024
22.8 m
2025
19.1 m
2026
19.1 m

SEC (XBRL)· 01 Oct 2026verified

Equity
2024
76.4 m
2025
97.8 m
2026
75.0 m

SEC (XBRL)· 01 Oct 2026verified

Cash flow · USD

Operating cash flow
2024
813.8 k
2025
1.1 m
2026
-2.3 m

SEC (XBRL)· 01 Oct 2026verified

Capex
2024
3.5 m
2025
1.6 m
2026
5.6 m

SEC (XBRL)· 01 Oct 2026verified

Free cash flow
2024
-2.7 m ≈
2025
-453.1 k ≈
2026
-7.9 m ≈

SEC (XBRL)· 01 Oct 2026derived

Investing cash flow
2024
-3.4 m
2025
312.3 k
2026
-5.6 m

SEC (XBRL)· 01 Oct 2026verified

Financing cash flow
2024
5.2 m
2025
4.4 m
2026
-576.7 k

SEC (XBRL)· 01 Oct 2026verified

Computed indicators

Growth

Revenue growth (YoY)
-23.3%
computed by olivLawFY 2026
Revenue CAGR 3Y
110.6%
computed by olivLawFY 2023 → FY 2026
Revenue CAGR 5Y
67.4%
computed by olivLawFY 2021 → FY 2026
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
16.0%
computed by olivLawFY 2026
EBITDA margin
-164.3%
computed by olivLawFY 2026
EBIT margin
-181.4%
computed by olivLawFY 2026
Net margin
-173.9%
computed by olivLawFY 2026
FCF margin
-49.7%
computed by olivLawFY 2026

Returns

ROE
-32.0%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
ROA
-26.2%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
input data missing
ROCE
-33.3%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
-282.3x
computed by olivLawFY 2026

Liquidity

Current ratio
1.1x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
0.9x
computed by olivLawbalance sheet at 30 Jun 2026
Cash ratio
0.6x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
-2.3 m USD
computed by olivLawFY 2026
Capital expenditure
5.6 m USD
computed by olivLawFY 2026
Free cash flow
-7.9 m USD
computed by olivLawFY 2026
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
insufficient data

Efficiency

Days sales outstanding
34 days
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Days inventory outstanding
60 days
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
8.7 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-268.6%
computed by olivLawFY 2026
P/B
0.1x
computed by olivLawbalance sheet at 30 Jun 2026
P/S
0.5x
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-91.2%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Dividend yield
0.0%
computed by olivLawFY 2026
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 5 of at least 6
  • score weight coverage: 33.3% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

0.58 USD

05 Nov 2026Source: olivLaw, closing series

Market cap: 8.7 m USD

Key indicators

Market capitalisation
8.7 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
unavailable
insufficient data
P/B
0.1x
computed by olivLawbalance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
ROE
-32.0%
computed by olivLawFY 2026 · balance sheet at 30 Jun 2026
Net margin
-173.9%
computed by olivLawFY 2026
Revenue growth (YoY)
-23.3%
computed by olivLawFY 2026
Dividend yield
0.0%
computed by olivLawFY 2026

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2026
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 30 Jun 2018
Source: SEC (XBRL)published 01 Oct 2026
verified 354

Score by group

33% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)unavailable · the base of the ratio is not positive

no valuation method could be computed

Multiple comparisons use the SIC vertical: Miscellaneous Manufacturing Industries (SIC 3990)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality-173.9%13 (vs peers)19%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth110.6%100 (on a fixed band)25%
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet-282.3x0 (on a fixed band)19%
Current ratio · Balance sheet1.1x26 (on a fixed band)13%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation-91.2%0 (on a fixed band)25%
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet11/100 · 2/3 factors with a value
  • Growth· partial100/100 · 1/2 factors with a value
  • Quality· partial13/100 · 1/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partial0/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

Dogness (International) Corporation (DOGZ). Latest full fiscal year: 2026; data up to 2026-06-30.

Figures computed from the financial statements: revenue 15.9 m USD in 2026; YoY growth -23.3%; net margin -173.9%; ROE -32.0%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Revenue CAGR 3Y: 110.6%

What contradicts it

  • Net margin: -173.9%
  • Interest coverage: -282.3x
  • Current ratio: 1.1x
  • FCF yield: -91.2%

Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Miscellaneous Manufacturing Industries (SIC 3990) · same industry (4-digit SIC) · compared with 9 companies

Multiples and returns vs the median

P/E
—
vertical median 19.6x
EV/EBITDA
—
vertical median —
P/S
0.5x
vertical median 1.0x
below median (−43.9%)
P/B
0.1x
vertical median 1.9x
below median (−93.9%)
ROE
-32.0%
vertical median 9.4%
below median (−440.0%)
Net margin
-173.9%
vertical median 5.2%
below median (−3,456.9%)
EBIT margin
-181.4%
vertical median 5.2%
below median (−3,610.4%)
Revenue YoY
-23.3%
vertical median 11.4%
below median (−305.1%)
Net debt/EBITDA
—
vertical median -0.6x
Dividend yield
0.0%
vertical median 5.3%
below median (−100.0%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
AMCRAmcor PLC22.4 bn20.49.4%4.7%+56.6%+14% / +2%
DAKTDaktronics, Inc.925.3 m19.616.2%5.7%+10.9%+2% / +84%
HCAIHuachen AI Parking Management Technology Holding Co., Ltd85.8 m—-402.1%-642.6%−83.9%−75% / unavailable
MWGMulti Ways Holdings Limited44.3 m—-2.0%-1.0%+44.1%−51% / −53%
VTSIVirTra, Inc.30.6 m—-6.1%—unavailable−46% / −63%
DOGZDogness (International) Corporation8.7 m—-32.0%-173.9%−23.3%−95% / −89%
JCSEJe Cleantech Holdings Limited8.1 m3.218.3%15.9%+11.8%+36% / +66%
WFFWF Holding Ltd5.7 m—-127.3%-64.4%+61.9%−63% / unavailable
ODCOil-Dri Corporation of America——20.5%11.5%+1.7%+26% / +142%
BRCBrady Corp——16.1%12.4%+9.8%+2% / +42%

1- and 3-year price returns: for DOGZ from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 01 Oct 2026; since then the company filed 6-K (20 Oct 2026).

    In brief

    Dogness (International) Corporation designs and manufactures pet products, from leashes and collars to smart products connected to a mobile app, selling mainly to markets in the United States and Europe. The company has entered a difficult period: in fiscal 2026 revenue fell 23.3% to 15.9 million USD, amid trade tensions between China and the United States that affect the exports its business depends on 1.

    SWOT

    Strengths

    • The company has long experience in making leashes and accessories and a broad range of connected smart products, along with relationships with several large retailers and online platforms 1.
    • In-house production capacity, acquired through the purchase of a factory, gives greater control over manufacturing costs 1.
    • The sales footprint covers many countries and channels, from traditional trade to online platforms, giving a geographically diversified customer base 1.

    Weaknesses

    • Revenue fell significantly in fiscal 2026 and the net loss was large relative to sales, showing serious pressure on profitability 1.
    • Customer concentration is high, with two customers accounting for a majority share of revenue, which makes the company vulnerable to losing a single partner 1.
    • The company recorded significant impairments of investments and assets, including losses on the DITC investment, pointing to issues in capital decisions 1.

    Opportunities

    • The Chinese pet market is growing rapidly, and stronger domestic sales could partly offset lower exports 1.
    • Smart products may attract younger generations, and online and live-streaming channels could open direct access to these customers 1.
    • The strategy of acquiring smaller manufacturers in China could add capacity and supply-chain integration if completed on favorable terms 1.

    Threats

    • Trade tensions between China and the United States can raise costs and reduce demand for products sold in the United States, the main export market 1.
    • Intense competition in the United States and the rapid rise of local Chinese brands could pressure prices and market share 1.
    • Risks tied to the Chinese legal framework and governance, including government influence over operations, could weigh on business activity and the value of the shares 1.

    Risks

    • Chinese government interventionhigh

      Chinese authorities may intervene in the company's operations and exercise tighter control over offerings abroad, which could limit investor access to the shares 1.

    • Currency and dividend restrictionsmedium

      Convertibility of the renminbi is limited, and China-based subsidiaries may pay dividends only out of accumulated profits, which could restrict funding of the business 1.

    • International supply chainhigh

      Logistics disruptions, port congestion and tariffs can raise costs and delay deliveries, with effects on demand for products 1.

    • Customer concentrationmedium

      A small number of customers generate a significant share of revenue, and losing one of them could quickly affect turnover 1.

    • Information securitylow

      Cyberattacks or unauthorized access to IT systems could disrupt operations and harm the company's reputation 1.

    Investment thesis

    What would need to be true (bull case)

    • If the Chinese pet market keeps growing rapidly and the company restores domestic sales, revenue could gradually recover on the back of a broader product range 1.
    • In-house production capacity and integration of smaller manufacturers could lower costs and improve margins, if these plans materialize 1.
    • Success of smart products and online channels could attract a younger customer base and diversify revenue sources 1.

    What would break the thesis

    • If trade tensions with the United States persist, exports, which make up most sales, could keep declining and pressure on profitability could grow 1.
    • The large net loss and asset impairments in fiscal 2026 point to a fragile financial position that could require additional capital 1.
    • Reliance on a few large customers and intense competition in target markets could limit the company's ability to recover lost revenue 1.

    What to watch

    • Rezultatele segmentului produselor inteligenteQ1 2027
    • Development of export revenue to the United Statesnext 10-K
    • Evolution of US-China trade tensions and tariffs2027
    • Results of the smart pet products segmentQ1 2027
    • Progress on acquisitions of smaller manufacturers in Chinanext 10-K

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 01 Oct 2026; since then the company filed 6-K (20 Oct 2026).

    The business

    Dogness is a holding company incorporated in the British Virgin Islands, with operations mainly in China through subsidiaries in Dongguan and Zhangzhou and a Delaware entity for sales in the United States 1. The company makes leashes, collars, harnesses, climbing hooks and textile products, along with a range of smart pet products, from app-connected feeders and fountains to GPS trackers and training mats 1. Class A shares are listed on Nasdaq, while effective control remains with the founder and chief executive, who holds a majority of the voting power 1.

    The legal structure includes several entities in Hong Kong, mainland China, Japan (later sold) and a pet culture company now in liquidation, so financial reporting is consolidated under the British Virgin Islands parent 1. The company describes its strategy as based on new products, acquisitions of smaller manufacturers in China and diversifying sales channels from traditional trade to online platforms and live streaming 1.

    Main customers include pet store chains, large retailers and e-commerce platforms, and the two largest customers accounted for 26.3% and 19.5% of fiscal 2026 revenue, a significant concentration 1.

    Segments

    Traditional pet products

    Leashes, collars and harnesses are the largest segment, at 60.7% of revenue in fiscal 2026, up from the prior year when its share was lower 1.

    Climbing hooks and others

    This segment was the most affected by the fiscal 2026 decline, falling sharply from the prior year as orders dropped 1.

    Market context

    The company sells mainly into export markets, which accounted for 68.4% of fiscal 2026 sales, with the rest in the domestic Chinese market 1. The US market is described as large and growing but highly competitive, while the Chinese market is expanding quickly with local brands gaining share 1.

    The source indicates that demand for pet products in the United States is supported by consumer purchasing power, but persistent inflation has reduced discretionary spending and hurt higher-margin products 1.

    Trends

    • US-China trade tensionsheadwind

      Tariffs, export restrictions and protectionist measures directly affect exports to the United States, which make up a substantial part of sales. If tensions persist, logistics and sourcing costs could remain high 1.

    • Growth of the Chinese pet markettailwind

      The pet industry in China is expanding rapidly, with rising consumer spending, which opens opportunities for the company's domestic sales 1.

    • Online and live-streaming sales channelsmixed

      Expansion into e-commerce and live-streaming platforms could attract younger customers interested in smart products, but it requires investment and faces intense competition 1.

    • Inflation and discretionary spendingheadwind

      Persistent inflation has reduced discretionary spending by US consumers, and this effect could continue to weigh on sales of higher-margin products 1.

    Competitive position

    The source describes the US market as highly competitive and local brands in China as gaining share quickly, which intensifies pressure on the company 1. Competitors are not named in the source, so a direct comparison cannot be drawn from the document.

    Stated competitive strengths include innovation in smart products, relationships with large retailers and in-house production capacity, yet the source acknowledges these did not protect the company from lower orders in fiscal 2026 1.

    • Local Chinese pet brands

      The source says local brands in China are growing quickly and capturing a rising share of the market, without naming them.

    • Smart pet product makers

      Competition in connected pet products is described as intense, without specific companies named in the source.

    • Retailers and online platforms with own brands

      Direct online and live-streaming sales are mentioned as a way to reach customers, but the source does not identify competitors in this space.

    • Alternative pet accessory suppliers

      The source discusses competition in the US and Chinese markets in general, without naming specific firms in this segment.

    News & filings

    Sources

    1. [1] Form 20-F, fiscal year ended 2026-06-30 · SEC / Dogness (International) Corporation · 01 Oct 2026

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.