Envela Corporation (ELA): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la reventa tecnológica y la gestión de activos, ENVELA CORPORATION (ELA) surge como una empresa pionera, transformando la electrónica excedente en valiosas oportunidades. Al cerrar ingeniosamente la brecha entre los inventarios de liquidación y los consumidores conscientes del presupuesto, la compañía ha creado un modelo de negocio único que ofrece soluciones tecnológicas sostenibles y de alta calidad en diversos segmentos de mercado. Desde las agencias gubernamentales hasta los entusiastas de la tecnología individual, el enfoque innovador de ENVELA reinventa cómo las organizaciones y los consumidores pueden acceder a la electrónica asequible y restaurada mientras defienden la responsabilidad ambiental y la accesibilidad tecnológica.

ENVELA CORPORATION (ELA) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con mercados en línea

ENVELA Corporation mantiene asociaciones activas con los principales mercados en línea:

Mercado	Detalles de la asociación	Volumen de ventas (2023)
Amazonas	Revendedor autorizado	$ 4.2 millones
eBay	Vendedor verificado	$ 3.7 millones

Colaboración con fabricantes de tecnología y electrónica

Las asociaciones clave del fabricante incluyen:

• Dell Technologies
• HP Enterprise
• Lenovo
• Manzana

Proveedores de inventario de excedentes y liquidación

Categoría de proveedor	Volumen de inventario anual	Descuento promedio
Fuentes de liquidación corporativa	$ 12.5 millones	65-75%
Canales excedentes del gobierno	$ 8.3 millones	55-65%

Asociaciones de reventa de comercio electrónico

Las asociaciones de canal de reventa de comercio electrónico de Envela incluyen:

• Nuevo
• Rakuten
• Video de la foto de B&H

Ingresos totales de la asociación para 2023: $ 24.6 millones

ENVELA CORPORATION (ELA) - Modelo de negocio: actividades clave

Minorista en línea y física de la electrónica y tecnología excedentes

Ingresos minoristas en línea y físicos anuales para 2023: $ 62.4 millones

Canal de ventas	Ganancia	Porcentaje
Minorista en línea	$ 41.6 millones	66.7%
Minorista física	$ 20.8 millones	33.3%

Servicios de adquisición y liquidación de inventario

Valor de liquidación de inventario total en 2023: $ 18.2 millones

• Clientes corporativos atendidos: 127
• Valor promedio del proyecto de liquidación: $ 143,307
• Tasa de éxito de liquidación: 92.5%

Renovación y reventa de equipos electrónicos

Tipo de equipo	Unidades renovadas	Valor de reventa
Computadoras	12,450	$ 3.7 millones
Servidor	2,340	$ 1.9 millones
Equipo de redes	5,670	$ 2.3 millones

Servicios de disposición de activos y ciberseguridad

Ingresos anuales del servicio de ciberseguridad: $ 7,6 millones

• Clientes atendidos: 84 clientes empresariales
• Certificados de destrucción de datos emitidos: 3,245
• Tasa de cumplimiento: 99.8%

Gestión de la plataforma de comercio electrónico

Métrica de plataforma	2023 rendimiento
Transacciones totales del sitio web	142,560
Valor de transacción promedio	$276
Tasa de conversión de plataforma	3.7%

ENVELA CORPORATION (ELA) - Modelo de negocios: recursos clave

Inventario extenso de la electrónica excedente y restaurada

A partir del cuarto trimestre de 2023, Envela Corporation mantiene un inventario valorado en $ 12.4 millones en electrónica excedente y restaurada. Relación total de rotación de inventario: 3.7x.

Categoría de inventario	Valor ($)	Porcentaje del inventario total
Electrónica de consumo	5,600,000	45.2%
Equipo de TI empresarial	4,200,000	33.8%
Dispositivos de telecomunicaciones	2,600,000	21%

Tecnología avanzada para la evaluación y renovación de los activos

Inversión tecnológica en 2023: $ 1.2 millones. La tecnología de renovación incluye:

• Sistemas de diagnóstico automatizados
• Equipo de calibración de alta precisión
• Herramientas de borrado de datos y verificación de seguridad

Fuerte infraestructura minorista en línea y física

Presencia minorista: 12 ubicaciones de tiendas físicas. La plataforma de comercio electrónico genera el 67% de los ingresos totales.

Canal de ventas	Ingresos anuales ($)	Índice de crecimiento
Plataforma en línea	38,500,000	14.3%
Tiendas físicas	18,700,000	6.9%

Personal técnico calificado

Fuerza laboral técnica total: 124 empleados. Experiencia técnica promedio: 7.2 años.

• Desglose de certificación:
  • Comptia A+: 42 empleados
  • Técnico Mac certificado por Apple: 23 empleados
  • Profesional certificado por Microsoft: 31 empleados

Plataformas digitales para la gestión de ventas e inventario

Inversión de pila de tecnología: $ 890,000 en 2023. Las plataformas incluyen el seguimiento de inventario en tiempo real e integración de ventas multicanal.

Componente de la plataforma	Funcionalidad	Costo de mantenimiento anual ($)
Sistema de gestión de inventario	Seguimiento en tiempo real	320,000
Plataforma de comercio electrónico	Ventas multicanal	270,000
Gestión de la relación con el cliente	Análisis de ventas	300,000

ENVELA CORPORATION (ELA) - Modelo de negocio: propuestas de valor

Soluciones tecnológicas asequibles para consumidores conscientes del presupuesto

El segmento de tecnología de Envela Corporation ofrece productos con la siguiente estructura de precios:

Categoría de productos	Rango de precios promedio	Porcentaje de descuento
Computadoras portátiles renovadas	$199 - $499	30-50% por debajo del comercio minorista
Escritorios reacondicionados	$149 - $399	35-55% por debajo del comercio minorista
Tabletas reacondicionadas	$89 - $249	40-60% por debajo del comercio minorista

Electrónica restaurada de alta calidad con garantía

Detalles de la garantía para productos restaurados:

• Garantía estándar: 90 días
• Opción de garantía extendida: hasta 2 años
• La cobertura incluye piezas y mano de obra

Enfoque sostenible para el consumo de tecnología

Estadísticas de impacto ambiental:

Métrico	Valor anual
Dispositivos electrónicos desviados de los vertederos	125,000 unidades
Las emisiones de carbono reducidas	3.750 toneladas métricas
Agua ahorrada en producción	1.2 millones de galones

Disposición de activos de TI segura y ambientalmente responsable

IT Métricas del servicio de disposición de activos:

• Cumplimiento de la destrucción de datos: 99.9%
• Estándar de R2 certificado (reciclaje responsable)
• Volumen de procesamiento anual: 75,000 dispositivos

Diversa gama de productos en múltiples categorías de tecnología

Desglose de la categoría de productos:

Categoría	Tipos de productos	Volumen de ventas anual
Computación	Computadoras portátiles, escritorios, tabletas	45,000 unidades
Dispositivos móviles	Teléfonos inteligentes, relojes inteligentes	35,000 unidades
Networking	Enrutadores, interruptores, módems	15,000 unidades

ENVELA CORPORATION (ELA) - Modelo de negocios: relaciones con los clientes

Canales de atención al cliente en línea

A partir de 2024, ENVELA Corporation proporciona atención al cliente a través de múltiples canales digitales:

Canal de soporte	Disponibilidad	Tiempo de respuesta
Chat en vivo	24/7	Menos de 5 minutos
Soporte por correo electrónico	Horario comercial	Dentro de las 24 horas
Soporte telefónico	8 am-8pm CST	Inmediato

Plataformas de autoservicio

Las plataformas digitales de Envela incluyen:

• Catálogo de productos en línea con especificaciones detalladas
• Seguimiento de inventario en tiempo real
• Herramientas de comparación de precios instantáneos
• Proceso de pago automatizado

Programas de fidelización de clientes

Métricas del programa de fidelización:

Nivel de programa	Membresía anual	Multiplicador de puntos de recompensa
Plata	Gratis	1x
Oro	$ 49/año	2x
Platino	$ 99/año	3x

Transparencia de calificación de productos

Precisión de calificación: 99.7% verificado por auditorías de terceros en 2024

Recomendaciones personalizadas

Rendimiento del motor de recomendación:

• Precisión del algoritmo de aprendizaje automático: 87.5%
• Personalización basada en 12 métricas de comportamiento del cliente
• Aumento promedio de la tasa de conversión: 24.3%

ENVELA CORPORATION (ELA) - Modelo de negocios: canales

Sitio web de la compañía (Govdeals.com y Boberdoo.com)

Envela Corporation opera dos plataformas principales en línea:

• Govdeals.com: plataforma de subastas en línea para activos excedentes del gobierno
• Boberdoo.com: Distribución de plomo patentado y plataforma de software de subastas

Plataforma	Tráfico web anual	Visitantes únicos
Govdeals.com	1.2 millones	350,000
Boberdoo.com	250,000	75,000

Mercados en línea

ENVELA utiliza canales de ventas en línea de terceros:

• Mercado de Amazon
• tienda en línea de eBay

Mercado	Volumen de ventas anual	Tarifa de comisión
Amazonas	$ 3.5 millones	15%
eBay	$ 1.8 millones	12%

Ubicaciones minoristas físicas

El envasta mantiene la presencia física minorista a través de:

• Ubicaciones de subastas físicas de Govdeals
• Centros de ventas corporativas

Tipo de ubicación	Número de ubicaciones	Tráfico peatonal anual
Centros de subastas de gobierno	12	75,000
Centros de ventas corporativas	5	25,000

Ventas directas a clientes gubernamentales y corporativos

Los canales de ventas directos de Envela incluyen:

• Contratos de adquisición del gobierno
• Servicios de disposición de activos corporativos

Categoría de cliente	Ingresos anuales	Número de contratos
Clientes gubernamentales	$ 22.5 millones	87
Clientes corporativos	$ 15.3 millones	52

Plataformas móviles de comercio electrónico

Canales de ventas móviles de Envela:

• Sitios web que responden a dispositivos móviles
• Aplicaciones de subastas móviles

Plataforma móvil	Usuarios activos mensuales	Porcentaje de ventas móviles
Govdeals Mobile	125,000	22%
Boberdoo Mobile	50,000	15%

ENVELA CORPORATION (ELA) - Modelo de negocio: segmentos de clientes

Consumidores de tecnología consciente del presupuesto

A partir del cuarto trimestre de 2023, ENVELA Corporation informó que se dirigieron a los consumidores de tecnología con un rango de gasto anual de $ 500- $ 2,500 para la electrónica restaurada.

Características de segmento	Tamaño del mercado	Valor de compra promedio
Edad 25-45 demográfico	3.2 millones de clientes potenciales	$ 687 por transacción

Agencias gubernamentales

Los ingresos del sector gubernamental de ENVELA en 2023 fueron de $ 42.3 millones, lo que representa el 37% del total de ingresos corporativos.

Tipo de agencia	Valor de contrato	Foco de adquisición
Agencias federales	$ 24.7 millones	Su disposición de activos
Agencias estatales/locales	$ 17.6 millones	Reciclaje de tecnología

Instituciones educativas

ENVELA sirve a 672 instituciones educativas en los Estados Unidos en 2023.

• Distritos escolares K-12: 412 clientes
• Instituciones de educación superior: 260 clientes
• Valor promedio del contrato: $ 215,000 anualmente

Pequeñas y medianas empresas

El segmento SMB generó $ 31.5 millones en ingresos para ENVELA en 2023.

Tamaño de negocio	Número de clientes	Gasto anual promedio
Pequeñas empresas (10-50 empleados)	1.284 clientes	$18,700
Empresas medianas (51-250 empleados)	456 clientes	$48,900

Administradores de activos de TI individuales y corporativos

Envela sirvió a 2.837 administradores de activos de TI corporativos en 2023.

• Departamentos de TI corporativos: 1.942 clientes
• Gestores de activos de TI independientes: 895 clientes
• Ingresos de gestión de activos totales de TI: $ 67.2 millones

ENVELA CORPORATION (ELA) - Modelo de negocio: estructura de costos

Costos de adquisición de inventario

Para el año fiscal 2023, ENVELA Corporation reportó costos totales de inventario de $ 24,318,000. El desglose de los gastos de adquisición de inventario incluye:

Categoría de inventario	Costo ($)
Inventario de reventa electrónica	$15,642,000
Inventario de metales preciosos	$8,676,000

Gastos de renovación de tecnología

Los costos de renovación de la tecnología para 2023 totalizaron $ 3,876,000, que incluían:

• Equipo de diagnóstico: $ 1,245,000
• Herramientas de reparación y restauración: $ 892,000
• Sistemas de control de calidad: $ 1,739,000

Costos operativos minoristas en línea y físicos

Los gastos operativos totales para los canales minoristas en 2023 fueron de $ 7,542,000:

Canal operativo	Costo ($)
Ubicaciones minoristas físicas	$4,625,000
Mantenimiento de la plataforma en línea	$2,917,000

Salarios de empleados y capacitación técnica

Los gastos totales relacionados con el personal para 2023 ascendieron a $ 12,654,000:

• Salarios base: $ 9,876,000
• Programas de capacitación técnica: $ 1,456,000
• Beneficios de los empleados: $ 1,322,000

Mantenimiento de marketing y plataforma digital

Los gastos de marketing y plataforma digital para 2023 fueron de $ 2,987,000:

Categoría de marketing	Costo ($)
Publicidad digital	$1,654,000
Desarrollo de sitios web y plataforma	$1,333,000

ENVELA CORPORATION (ELA) - Modelo de negocios: flujos de ingresos

Ventas de electrónica restaurada

Para el año fiscal 2023, ENVELA Corporation reportó $ 46.3 millones en ingresos de las ventas de electrónica restaurada.

Categoría de productos	Ingresos anuales	Precio de venta promedio
Computadoras portátiles	$ 18.7 millones	$325
Teléfonos inteligentes	$ 12.5 millones	$215
Tabletas	$ 8.1 millones	$180

Servicios de disposición de activos

Los servicios de disposición de activos generaron $ 22.9 millones en ingresos para ENVELA en 2023.

• Base de clientes empresariales: 127 clientes corporativos
• Valor promedio del contrato: $ 185,000
• Cobertura geográfica: 42 estados

Comisiones del mercado en línea

Los ingresos de la Comisión del Mercado en línea alcanzaron los $ 6.7 millones en 2023.

Plataforma	Tarifa de comisión	Ingresos de la comisión total
Plataforma nxtdrop	12%	$ 4.3 millones
Mercados secundarios	8%	$ 2.4 millones

Liquidación de inventario excedente

La liquidación de inventario de excedentes contribuyó con $ 15.6 millones a los ingresos de ENVELA en 2023.

• Valor de inventario total liquidados: $ 68.2 millones
• Margen de liquidación promedio: 22.9%
• Número de transacciones de liquidación: 412

Servicios de ciberseguridad y destrucción de datos

Los servicios de ciberseguridad y destrucción de datos generaron $ 8,5 millones en ingresos para 2023.

Tipo de servicio	Ingresos anuales	Número de clientes
Destrucción de datos	$ 5.2 millones	93 clientes
Consultoría de ciberseguridad	$ 3.3 millones	47 clientes

Envela Corporation (ELA) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Envela Corporation (ELA) over the competition. It's about trust in luxury and operational excellence in asset management. Honestly, the numbers from the first half of 2025 show this dual focus is working.

For Consumers: Trusted, authenticated source for pre-owned luxury goods

For the consumer segment, the value proposition centers on authenticity and access to premium brands in a market that is definitely growing. While the broader personal luxury goods sales are projected to decline by 2-5% in 2025 compared to 2024, Envela Corporation's curated approach seems to be holding its ground, with the Consumer Division posting \$43.2 million in revenue for the second quarter of 2025. This segment is tapping into the resale market, which was valued at \$8.1 billion in 2024, positioning itself against the overall Global Luxury Goods Market projected to reach \$391.3 billion by 2025.

You get value through:

• Authentication processes for luxury hard assets.
• Access to premium brands often priced significantly below retail.
• Retail experiences in locations acquired from former bank buildings, suggesting high security infrastructure.

For Commercial Clients: Secure, compliant, end-to-end IT asset lifecycle management

For your enterprise clients, especially those Fortune 500 companies, the value is in de-risking the end-of-life process for their technology. This isn't just hauling away old servers; it's a secure, compliant service. The Commercial Division's performance speaks to this, delivering a 66.1% gross margin in Q2 2025 on \$11.7 million in revenue for that quarter. That margin shows they are extracting significant value from the assets they manage, which is what sophisticated clients pay for.

Maximizing financial return on retired assets for enterprises

The high gross margin in the Commercial Division, 66.1% in Q2 2025, is the clearest indicator of maximizing financial return. This segment handles IT Asset Disposition (ITAD) and other asset recovery. Think about the precious metals recovered; in Fiscal 2024, the consumer segment alone sold 2.2 metric tons of refining-grade precious metals destined for new products. The commercial side captures value from the entire IT asset stream, not just the scrap metal.

Here's a quick look at the recent financial momentum:

Metric	Q2 2025 Actual	FY 2025 Estimate	FY 2024 Actual
Consolidated Revenue	\$54.9 million	\$204.35 million	\$180.4 million
EPS (Diluted)	\$0.11	\$0.36 per share	\$0.26 per share
Operating Income Growth (YoY)	70.5% surge	N/A	N/A
Net Cash Position (as of 6/30/2025)	\$9.8 million	N/A	\$20.6 million (as of 12/31/2024)
Long-Term Debt (as of 6/30/2025)	\$13.0 million	N/A	\$13.5 million (as of 12/31/2024)

Advancing the circular economy and environmental sustainability (ESG)

Envela Corporation positions itself as a sustainability-focused company by extending product lifecycles. This commitment is backed by certifications; their ECHG companies are audited and certified to the ISO 14001:2015 standard for environmental management. Furthermore, governance reflects a commitment to diversity, with the Board being 40% women. To be fair, the CEO receives no salary or stock compensation, which aligns executive incentives with long-term shareholder value creation, not just short-term gains.

Transparent pricing and valuation in the precious metals market

While specific pricing transparency metrics aren't public, the company's heritage in precious metals trading, through entities like the Dallas Gold & Silver Exchange, underpins this value. The Consumer Division's revenue growth is partly attributed to the growth in wholesale precious metals. You benefit from their ability to process and value these materials, as evidenced by the 2.2 metric tons of refining-grade precious metals sold for new products in Fiscal 2024.

The recent Q3 2025 actual EPS of \$0.13 beat the estimate of \$0.06 by 116.67%, showing strong operational leverage across these value streams.

Finance: draft 13-week cash view by Friday.

Envela Corporation (ELA) - Canvas Business Model: Customer Relationships

The customer relationship structure for Envela Corporation (ELA) is dual-pronged, serving both the Consumer segment, which accounted for approximately 78.5% of total revenue in Q3 2025, and the Commercial segment, which contributed 21.5% ($12.3 million) of Q3 2025 revenue.

High-touch, personalized service in retail store locations

The Consumer division supports its in-store experience with professional authentication, grading, and valuation services. The national retail footprint, which reached 12 locations by the end of Fiscal Year 2024, continues to be a key touchpoint for customers seeking luxury hard assets and precious metals.

Consumer Segment Retail Metric	Value
Q3 2025 Consumer Segment Revenue	$45.1 million
Retail Store Locations (End of FY 2024)	12
New Stores Opened in FY 2024	5

Dedicated account management for large Commercial (ITAD) clients

The Commercial segment, which includes IT Asset Disposition (ITAD) services, focuses on tailored re-commerce solutions for enterprises. This segment serves leading global brands and includes many Fortune 500 companies. The gross margin for the Commercial Division reached 66.1% in Q2 2025, highlighting the service-intensive nature of these relationships.

Self-service e-commerce platforms with live pricing updates

The Consumer division integrates its physical presence with expanding e-commerce capabilities for the resale of fine jewelry, luxury watches, and bullion. The Commercial segment also utilizes e-commerce channels for remarketing recovered IT assets. The Consumer Division revenue was $45.1 million in Q3 2025.

• Consumer segment online platforms for luxury resale.
• Commercial segment for remarketing of refurbished IT assets.
• Q3 2025 Commercial Segment Revenue was $12.3 million.

Building long-term trust through defintely transparent valuation processes

Trust is built through a transparent buy, sell, and trade model across the Consumer segment, supported by in-house experts for authentication and grading. The Commercial segment builds trust through secure data destruction and compliance in IT asset disposition. The Commercial Division gross margin was 57.4% in Q3 2024.

Investor relations and corporate governance communication

As a publicly held company on the NYSE American exchange, Envela Corporation adheres to SEC reporting standards, providing formal communication channels. The company was added to the U.S. Small-Cap Russell 2000 Index in June 2025. The Investor Relations contact is ir@envelacorp.com, with a direct line at 972-587-4030.

Investor/Governance Metric	Value/Detail
Shares Repurchased Since March 2023	961,155 shares
Total Spend on Share Repurchases (Since March 2023)	Over $4.8 million
Share Repurchase Program Authorization End Date	March 31, 2026
Q2 2025 Share Repurchase Cost	$118.7 thousand

Finance: draft 13-week cash view by Friday.

Envela Corporation (ELA) - Canvas Business Model: Channels

You're looking at how Envela Corporation moves its value propositions-from luxury recommerce to IT asset disposition-to the customer. It's a mix of physical presence and digital reach, reflecting the two-segment structure.

Here's a quick look at the revenue split by segment for the third quarter ended September 30, 2025, which gives us a view into channel performance:

Segment (Primary Channel Focus)	Q3 2025 Revenue	Year-over-Year Revenue Change
Consumer Division (Retail/E-commerce/Wholesale)	$45.1M	Positive Growth
Commercial Division (Direct Service Contracts/Wholesale)	$12.3M	Decline of ~6.1%
Total Quarterly Revenue	$57.4M	+22.4%

Physical retail stores (e.g., DGSE) in key US markets (Dallas, Phoenix)

The physical retail channel falls under the Consumer Division, which focuses on the sale of authenticated high-end luxury goods and bullion. The CEO noted that the Consumer segment benefited from increased retail store revenues in Q2 2025. The strategy involves scaling this retail footprint, with the CEO mentioning an expansion into two new markets during 2024. The goal is creating immersive environments for customers to experience the curated goods firsthand.

• Consumer Division Q3 2025 Revenue: $45.1M.
• Consumer Division Q2 2025 Revenue: $43.2M.
• Consumer Division Q1 2025 Revenue: $36.8M.

Direct-to-consumer e-commerce platforms (e.g., APMEX.com)

While Envela Corporation sells precious metal bullion through its Consumer segment, the most concrete e-commerce data found relates to APMEX.com, a major online bullion retailer. APMEX's flagship domain, apmex.com, generated revenues of US$2,919M in 2024. Forecasts suggested a revenue change of 10-15% growth for this platform in 2025 compared to 2024. This platform's main market is the United States, accounting for 99% of its revenues in 2024. Envela's own e-commerce presence is integrated within the Consumer segment's overall revenue stream.

Direct sales force for Commercial Division service contracts

The Commercial Division utilizes a direct or service-based approach for its IT asset disposition (ITAD) and related services. This channel is explicitly called out as a significant revenue driver, contributing to higher gross margins. The service-based returns business within the Commercial segment saw improved margins in Q2 2025. The Commercial segment's operating expenses for Q2 2025 were $5.2 million.

• Commercial Division Q3 2025 Revenue: $12.3M.
• Commercial Division Q2 2025 Revenue: $12.3M.
• Commercial Division Q1 2025 Revenue: $12.3M (Note: Q1 2025 Commercial revenue was $12.3M, Q2 was $12.3M, Q3 was $12.3M, indicating consistency or a reporting artifact).
• Commercial Division Q3 2025 Operating Income: $3.0 million.

Wholesale distribution channels for bullion and institutional inventory

Wholesale activity is a key component of the Consumer segment, separate from direct retail sales. The CFO specifically mentioned that the Consumer segment benefited from growth in wholesale precious metals during Q2 2025. The Commercial segment also ships electronic scrap grades from its shredders, which is a form of wholesale/bulk material sale.

Online marketplaces for specialized luxury items

The Consumer segment's focus on buying and reselling pre-owned luxury goods, including fine jewelry, diamonds, and watches, suggests activity across various online platforms, though specific marketplace revenue percentages aren't broken out from the overall Consumer revenue. The company's overall strategy is centered on authenticated products and the circular economy.

Finance: review Q3 2025 segment revenue against the $209M TTM revenue figure by end of next week.

Envela Corporation (ELA) - Canvas Business Model: Customer Segments

Envela Corporation serves distinct customer groups through its two primary operating segments: Consumer and Commercial Services. As of the third quarter of 2025, the Consumer Division generated the majority of the top line, while the Commercial side, which includes IT Asset Disposition (ITAD), acts as a critical profit engine.

Here is a look at the financial contribution by segment for the quarter ended September 30, 2025:

Customer Segment Group	Q3 2025 Revenue Amount	Q3 2025 Revenue Percentage
Consumer Division	$45.1 million	78.5%
Commercial Division (Including ITAD)	$12.3 million	21.5%

The Consumer segment's nine-month sales ending September 30, 2025, reached $125,012,398, marking a 33.0% rise year-over-year.

Individual consumers buying and selling pre-owned luxury hard assets

This group transacts with the Consumer segment, which specializes in the online and brick-and-mortar sale of authenticated high-end luxury goods. The segment saw sales of $45,068,036 for the three months ended September 30, 2025, a 33.5% increase from the prior-year quarter. This customer base is attracted to the company's offerings in:

• Pre-owned and repurposed fine jewelry, diamonds, and gemstones.
• Luxury watches.
• Secondary market bullion.

High-net-worth collectors and investors in bullion and rare coins

These clients contribute to the Consumer segment's revenue, which benefited from growth in wholesale precious metals. The segment's gross margin was 10.8% of revenue in Q2 2025, though it saw significant improvement in Q3 2025 due to increased sales volume and rising gold prices. The company also incorporates recycled diamonds and gemstones into new designs, appealing to those seeking ethical sourcing.

Large enterprises and Fortune 500 companies needing ITAD services

These clients form the core of the Commercial Services segment, which provides Information Technology Asset Disposition (ITAD) solutions. For the nine months ending September 30, 2025, this division's sales were $35,509,675, a 6.8% decrease from the same period last year, reflecting a shift toward service revenue. The ITAD business is a key profit driver, evidenced by a gross margin of 66.1% of revenue in the second quarter of 2025. This segment focuses on:

• Securely destroying data on retired IT assets.
• Asset refurbishment and remarketing after data sanitization.
• Managing the entire lifecycle of technology products for data security and compliance.

Institutional clients requiring bulk precious metals inventory

While the primary precious metals sales are within the Consumer segment, the Commercial segment's high-margin service-based returns business is also a significant driver. The Commercial segment's operating income for Q3 2025 was $3.0 million, up from $2.2 million in the prior-year quarter, showing strong execution despite lower overall volumes in that division.

Environmentally conscious buyers seeking sustainable re-commerce options

Both segments cater to this group. The Consumer segment supports this by extending the lifespan of luxury goods. The Commercial segment supports this through the responsible reuse and recycling of electronic devices, maximizing value recovery and minimizing waste from end-of-life assets. The company's overall strategy is positioned at the forefront of the circular economy.

Finance: draft 13-week cash view by Friday.

Envela Corporation (ELA) - Canvas Business Model: Cost Structure

You're looking at the cost side of Envela Corporation's operations as of late 2025, which means we need to look closely at the most recent full-year numbers from 2024 and the early 2025 operational data. The cost structure is clearly split between the high-volume, lower-margin Consumer segment and the high-margin Commercial Division.

Cost of Goods Sold (COGS) for inventory acquisition (Consumer segment)

The Cost of Revenue, which represents the total COGS for Envela Corporation, was $136.06 million for the full year ending December 31, 2024. The Consumer Division, which handles the retail of luxury goods, had a gross margin of 12.2% of revenue for the full year 2024. This implies that the cost of inventory acquisition for the Consumer segment was approximately 87.8% of its respective revenue base, given the overall gross margin structure.

Operating expenses, including retail store leases and utilities

Consolidated operating expenses for Envela Corporation totaled $36.2 million for the full year 2024. For the second quarter of 2025, total operating expenses were $9.1 million. The retail footprint expansion is a major driver here; the company was on track to double its store count to 14 locations by the end of 2024, which necessitated increased costs for leases and utilities across new and existing locations.

Here's a breakdown of the operating expenses by division for the full year 2024:

Division	Full Year 2024 Operating Expenses (USD)	Q2 2025 Operating Expenses (USD)
Consumer Division	$15.7 million	$3.9 million
Commercial Division	$20.4 million	Not explicitly separated in Q2 2025 data

The Commercial Division's operating expenses were $20.4 million in 2024, while the Consumer Division's were $15.7 million. The Consumer Division's operating expenses rose sharply in Q1 2024 to $3.3 million, up 34.1% from the prior year's quarter, reflecting investments in expansion.

Personnel costs for skilled appraisers, technicians, and sales staff

Specific personnel costs are embedded within the operating expenses, but the driver is clear. In the first quarter of 2024, the Consumer Division's operating expense increase of 34.1% was primarily reflecting increased personnel to support the long-term growth of the business. This points to the cost of hiring and training the specialized staff, like appraisers and sales staff, needed for the new retail locations. The Commercial Division also focuses on personnel alignment with margin generation.

Commercial Division operational costs for de-manufacturing and logistics

The Commercial Division's operational costs include logistics for asset intake and de-manufacturing processes related to ITAD (Information Technology Asset Disposition). Full year 2024 operating expenses for this division were $20.4 million. In the third quarter of 2025, the Commercial Division reported operating expenses of $5.4 million, an increase of 4.8% year-over-year, driven by operational performance across their footprint. The division's focus is on the alignment of operating expenses with margin generation, which was 57.4% in Q3 2025.

Capital expenditures for expanding the retail footprint and ITAD infrastructure

Specific 2025 capital expenditures (CAPEX) figures aren't explicitly detailed in the latest reports, but the investment intent is clear from prior activity. In 2023, the company purchased a 6,000 square foot retail building in Phoenix for $1.2 million as part of the plan to double the retail business. Expected CAPEX over a 12-month period in early 2023 was cited as $750,000, though the subsequent store purchases suggest higher actual spending. The ongoing strategy involves continued retail expansion and investment in the ITAD infrastructure to support client service offerings. The cash position strengthened to $22.9 million as of June 30, 2025, which provides the liquidity for these planned capital outlays.

Key historical CAPEX context:

• Planned doubling of retail footprint to 14 stores by end of 2024.
• Acquired a stand-alone retail building for $1.2 million in 2023.
• Expected CAPEX over 12 months in early 2023 was $750,000.

Finance: draft 13-week cash view by Friday.

Envela Corporation (ELA) - Canvas Business Model: Revenue Streams

You're looking at the revenue generation for Envela Corporation (ELA) as of late 2025, which is heavily weighted toward its consumer-facing precious metals and its commercial ITAD (IT Asset Disposition) and recycling operations. The total revenue for the third quarter ending September 30, 2025, was reported at $57.39 million.

The overall revenue streams are clearly segmented into two primary divisions, Consumer and Commercial, with the Consumer side being the dominant revenue generator in the latest reported quarter.

The Consumer division, which encompasses several key activities, generated $45.07 million in revenue for Q3 2025, representing 78.53% of the total quarterly revenue. This division's strength is tied to high precious metals prices, which acts as a tailwind.

The Commercial division, focused on services and metal recovery, contributed $12.32 million, or 21.47% of the Q3 2025 revenue. This segment saw its gross margin improve to 66.1% in Q2 2025, driven by its service-based returns business.

Here is a breakdown of the key revenue components based on the latest segment data:

• Sales of bullion and rare coins (Consumer) account for approximately 78.5% of the Q3 2025 revenue.
• The Commercial segment's revenue is driven by its service-based returns business, which is becoming a more significant revenue driver.
• Consumer Division revenue for the first quarter of 2025 was $36.8 million.
• The trailing twelve months (TTM) revenue ending September 30, 2025, reached $208.84 million.

The structure of these revenue streams for Q3 2025 is laid out below. Honestly, you can see how critical the precious metals cycle is to the top line.

Revenue Stream Category	Q3 2025 Revenue Amount (USD)	Percentage of Total Q3 2025 Revenue
Consumer Division Total	$45.07M	78.53%
Commercial Division Total	$12.32M	21.47%
Total Consolidated Revenue	$57.39M	100.00%

While the specific dollar amounts for the individual sub-streams like sales of pre-owned luxury goods, jewelry, and watches, or the revenue from the sale of reclaimed base and precious metals are bundled within the Consumer and Commercial totals, the primary drivers are clear. The Consumer segment benefits from growth in wholesale precious metals and increased retail store revenues. The Commercial segment's performance is tied to its ITAD and electronics recycling services.

For context on the overall trajectory, Envela Corporation's quarterly revenue for Q2 2025 was $54.9 million, and the annual revenue for the fiscal year ending December 31, 2024, was $180.38 million. The company is definitely seeing growth, with TTM revenue up 66.7% year-over-year as of September 30, 2025.

The revenue streams are supported by the following activities, which feed into the Consumer and Commercial segments:

• Optimizing the operating model as the retail footprint scales for consumer sales.
• Driving service-based returns within the Commercial segment for higher gross margins.
• Managing the wholesale distribution of precious metals and inventory.
• Securing revenue from responsible recycling and secure asset management services.

Finance: draft 13-week cash view by Friday.