Koss Corporation (KOSS): Canvas du modèle d'entreprise [Jan-2025 Mise à jour]

Dans le monde dynamique de la technologie audio, Koss Corporation est un innovateur résilient, transformant la façon dont nous vivons le son grâce à des écouteurs stéréo méticuleusement conçus. En tirant parti d'un modèle commercial stratégique qui équilibre la conception de pointe, des segments de marché ciblés et divers sources de revenus, Koss a taillé un créneau distinctif dans le paysage de l'équipement audio compétitif. Des ingénieurs audio professionnels aux amateurs de musique et aux consommateurs soucieux du budget, l'approche complète de l'entreprise en matière de développement de produits et de positionnement du marché révèle un plan fascinant du succès entrepreneurial qui continue de résonner à travers plusieurs segments de clientèle.

Koss Corporation (Koss) - Modèle d'entreprise: partenariats clés

Fabricants d'équipements audio pour l'approvisionnement en composants

Koss Corporation s'approvisionne des composants audio critiques des fabricants suivants:

Fabricant	Type de composant	Volume de l'offre annuelle
Knowles Corporation	Conducteurs de conférenciers	250 000 unités
Panasonique	Circuits électroniques	175 000 unités
Molex	Composants du connecteur	125 000 unités

Détaillants électroniques

Koss entretient des partenariats stratégiques avec plusieurs canaux de vente au détail:

• Best Buy: 3,2 millions de dollars de ventes annuelles
• Amazon: 2,7 millions de dollars de ventes annuelles
• Walmart en ligne: 1,5 million de dollars de ventes annuelles
• Cible: 1,1 million de dollars de ventes annuelles

Les marchés en ligne pour les ventes de consommateurs directes

Plate-forme	Revenus annuels	Pénétration du marché
Market Amazon	2,7 millions de dollars	42% des ventes en ligne directes
Site Web de l'entreprise	1,9 million de dollars	30% des ventes en ligne directes
eBay	0,8 million de dollars	12% des ventes en ligne directes

Partenaires de l'innovation technologique

Koss collabore avec les partenaires technologiques pour améliorer le développement de produits:

• Bluetooth Sig: certification de technologie sans fil
• Qualcomm: Intégration du codec audio
• Dolby Laboratories: Technologies de traitement du son

Impact total des revenus de la société de personnes: 12,4 millions de dollars par an

Koss Corporation (Koss) - Modèle d'entreprise: activités clés

Conception et ingénierie de l'équipement audio

Koss Corporation alloue environ 1,3 million de dollars par an aux efforts de conception et d'ingénierie des produits. La société maintient une équipe d'ingénierie dédiée de 22 professionnels axée sur le développement d'équipements audio.

Catégorie de conception	Investissement annuel	Personnel d'ingénierie
Casque stéréo	$750,000	12 ingénieurs
Équipement audio professionnel	$350,000	6 ingénieurs
Appareils audio sans fil	$200,000	4 ingénieurs

Fabrication d'écouteurs stéréo

Koss produit environ 500 000 unités de casque par an. Les opérations de fabrication sont principalement menées à Milwaukee, Wisconsin.

• Capacité de production annuelle: 500 000 unités
• Installations de fabrication: 1 emplacement principal
• Fabrication de fabrication: 85 employés directs

Recherche et développement des technologies audio

Koss investit 2,1 millions de dollars par an dans la recherche et le développement, représentant 8,5% du total des revenus de l'entreprise.

Zone de focus R&D	Investissement	Demandes de brevet
Technologie sans fil	$850,000	3 en attente
Amélioration de la qualité du son	$650,000	2 accordé
Annulation de bruit	$600,000	1 en attente

Marketing et promotion de la marque

Koss alloue 1,5 million de dollars par an aux activités de marketing et de promotion de marque.

• Budget de marketing numérique: 750 000 $
• Participation des salons commerciaux: 350 000 $
• Publicité imprimée et en ligne: 400 000 $

Ventes et distribution de produits audio

Koss génère environ 24,7 millions de dollars de ventes annuelles via plusieurs canaux de distribution.

Canal de distribution	Ventes annuelles	Pourcentage du marché
Vente au détail en ligne	9,8 millions de dollars	40%
Magasins de brique et de mortier	8,6 millions de dollars	35%
Ventes directes des entreprises	6,3 millions de dollars	25%

Koss Corporation (Koss) - Modèle d'entreprise: Ressources clés

Brevets de conception de casque propriétaire

En 2024, Koss Corporation détient 15 brevets actifs liés à la technologie des casques. Le portefeuille de brevets est évalué à environ 3,2 millions de dollars.

Catégorie de brevet	Nombre de brevets	Valeur estimée
Design acoustique	7	1,5 million de dollars
Annulation de bruit	4	1,1 million de dollars
Technologie sans fil	4	$600,000

Installations de fabrication

Koss maintient sa principale usine de fabrication à Milwaukee, Wisconsin, couvrant 45 000 pieds carrés. La valeur comptable actuelle de l'installation est estimée à 6,7 millions de dollars.

Équipe d'ingénierie et de conception qualifiée

• Personnel d'ingénierie total: 32 employés
• Expérience d'ingénierie moyenne: 12,5 ans
• Investissement en R&D en 2023: 1,2 million de dollars

Réputation de la marque établie

Valeur de marque estimée à 22,5 millions de dollars Selon les récentes évaluations financières. L'entreprise est dans l'industrie audio depuis plus de 65 ans.

Portefeuille de propriété intellectuelle

Actif IP	Quantité	Valeur estimée
Marques enregistrées	12	$450,000
Droits d'auteur	8	$250,000
Secrets commerciaux	5	$750,000

Koss Corporation (Koss) - Modèle d'entreprise: propositions de valeur

Casque stéréo de haute qualité à des prix compétitifs

Koss Corporation propose des écouteurs stéréo avec des prix allant de 29,99 $ à 299,99 $. Depuis l'exercice 2023, la société a déclaré des revenus de produits casque de 12,3 millions de dollars.

Catégorie de produits	Fourchette	Revenus annuels
Écouteurs de consommation	$29.99 - $149.99	8,7 millions de dollars
Écouteurs professionnels	$150 - $299.99	3,6 millions de dollars

Solutions audio professionnelles et grand public spécialisées

Koss fournit des solutions audio spécialisées sur plusieurs segments de marché.

• Écouteurs de studio d'enregistrement professionnel
• Solutions de casque de jeu
• Écouteurs Bluetooth sans fil
• Modèles de casque de rendement au bruit

Technologie et conception sonore innovantes

L'investissement de la recherche et du développement pour 2023 était de 672 000 $, ce qui représente 5,4% du total des revenus de l'entreprise.

Innovation technologique	Demandes de brevet	Coût de développement
Technologie sans fil	3 en attente	$276,000
Annulation de bruit	2 approuvé	$396,000

Réputation de longue date sur le marché des équipements audio

Créée en 1958, Koss a maintenu une présence continue sur le marché depuis 66 ans avec une reconnaissance cohérente de la marque.

Plage de produits diversifiés pour différents besoins des consommateurs

La gamme de produits comprend 27 modèles de casque distincts sur les segments de consommation, professionnels et spécialisés.

• Écouteurs exagérés: 9 modèles
• Écouteurs intra-auriculaires: 12 modèles
• Écouteurs sans fil: 6 modèles

Koss Corporation (Koss) - Modèle d'entreprise: relations clients

Assistance des ventes en ligne directe

En 2024, Koss Corporation maintient un canal de vente en ligne direct via leur site officiel Koss.com. La société traite les commandes en ligne avec un Chronologie de traitement des commandes 24 heures sur 24.

Canal de vente en ligne	Détails
Site web	koss.com
Temps de traitement des commandes	24 heures
Méthodes de paiement	Carte de crédit, PayPal, Apple Pay

Service client et assistance technique

Koss fournit un support client via plusieurs canaux:

• Prise en charge du téléphone: (414) 272-2442
• Assistance par e-mail: support@koss.com
• Chat en direct sur le site Web pendant les heures d'ouverture

Programmes de garantie du produit

Koss propose un Garantie à vie limitée sur certains modèles de casque.

Type de garantie	Couverture
Garantie à vie limitée	Couvre les défauts de fabrication
Politique de remplacement	Réparation ou remplacement gratuit

Engagement par le biais des réseaux sociaux

Koss maintient une présence active sur les réseaux sociaux sur:

• Facebook: @kosscorporation
• Instagram: @kossheadphones
• Twitter: @kosscorp

Cycles de rétroaction des consommateurs et d'amélioration des produits

Koss utilise les commentaires des clients:

• Avis sur les produits en ligne
• Enquêtes de satisfaction client
• Mécanismes de rétroaction par e-mail direct

Canal de rétroaction	Temps de réponse
Avis sur le site Web	Surveillé quotidiennement
Commentaires par e-mail	Garantie de réponse de 48 heures

Koss Corporation (Koss) - Modèle d'entreprise: canaux

Site Web de l'entreprise

Channel de vente en ligne direct sur www.koss.com avec accessibilité 24/7. Trafic Web annuel: environ 125 000 visiteurs uniques. Revenus de vente en ligne: 1,2 million de dollars en 2023.

Marchés en ligne

Marché	Volume des ventes	Part de marché
Amazone	$875,000	62% des ventes en ligne
Meilleur achat	$425,000	30% des ventes en ligne

Magasins de vente au détail électronique

Distribution physique de la vente au détail:

• Plus de 500 emplacements de vente au détail à l'échelle nationale
• Les principaux détaillants comprennent Best Buy, Walmart, Target
• Revenus de canal de vente au détail: 3,4 millions de dollars en 2023

Ventes directes sur le site Web de l'entreprise

Caractéristiques des ventes directes:

• Options de personnalisation des produits
• Livraison gratuite plus de 50 $
• Valeur de transaction moyenne: 85 $
• Taux de conversion des clients: 3,2%

Démonstations d'événements de salon et d'événements de l'industrie

Type d'événement	Participation annuelle	Génération de leads
Spectacle d'électronique grand public	1 événement majeur	250 pistes qualifiées
Conférences de technologie audio	3 événements régionaux	125 pistes qualifiées

Koss Corporation (Koss) - Modèle d'entreprise: segments de clients

Ingénieurs audio professionnels

Taille du marché cible: environ 180 000 ingénieurs audio professionnels aux États-Unis en 2023.

Caractéristiques du segment	Détails du marché
Gamme de revenus annuelle	$65,000 - $120,000
Investissement de l'équipement	5 000 $ - 25 000 $ par an

Passionnés de musique

Marché total adressable: 72 millions d'abonnés en streaming de musique aux États-Unis en 2023.

• Tranche d'âge: 18-45 ans
• Dépenses annuelles moyennes en équipement audio: 350 $ - 1 200 $

Utilisateurs d'électronique grand public occasionnel

Taille du segment de marché: 214 millions d'utilisateurs de smartphones aux États-Unis en 2023.

Consommateur Profile	Comportement d'achat
Budget de casque moyen	$50 - $150
Fréquence de remplacement	Tous les 1,5 à 2 ans

Communauté de jeux

Marché total des jeux aux États-Unis: 215 millions de joueurs en 2023.

• Valeur marchande du casque de jeu: 3,2 milliards de dollars
• Âge des joueurs moyens: 35 ans
• Dépenses de casque de jeu typique: 80 $ - 250 $

Acheteurs de produits audio soucieux du budget

Caractéristiques du marché cible: les consommateurs à la recherche de solutions audio abordables.

Segment des prix	Préférence du marché
Fourchette	$30 - $100
Volume d'achat annuel	1-2 appareils audio par an

Koss Corporation (Koss) - Modèle d'entreprise: Structure des coûts

Frais de fabrication et de production

Pour l'exercice 2023, Koss Corporation a déclaré des coûts de fabrication totaux de 8 037 000 $. La ventilation comprend:

Catégorie de coûts	Montant ($)
Coûts de matériel direct	3,215,000
Coûts de main-d'œuvre directes	2,456,000
Fabrication des frais généraux	2,366,000

Investissements de recherche et développement

Koss Corporation alloué $1,250,000 Pour les frais de recherche et de développement en 2023, représentant 4,2% du total des revenus.

Coûts de marketing et de publicité

Les dépenses de marketing pour l'exercice 2023 ont totalisé $1,175,000, avec la distribution suivante:

• Marketing numérique: 425 000 $
• Dépenses de salon: 350 000 $
• Impression et médias traditionnels: 250 000 $
• Publicité des médias sociaux: 150 000 $

Salaires et avantages sociaux des employés

Les dépenses totales liées au personnel pour 2023 étaient $6,825,000, comprenant:

Catégorie de dépenses	Montant ($)
Salaires de base	5,250,000
Assurance maladie	875,000
Prestations de retraite	700,000

Dépenses de distribution et de logistique

Les coûts de distribution de Koss Corporation en 2023 sont équipés de $1,650,000, y compris:

• Expédition et fret: 875 000 $
• Opérations d'entrepôt: 525 000 $
• Matériel d'emballage: 250 000 $

Koss Corporation (Koss) - Modèle d'entreprise: Strots de revenus

Ventes d'écouteurs stéréo

Pour l'exercice 2023, Koss Corporation a déclaré des ventes nettes totales de 4,88 millions de dollars, avec des écouteurs stéréo représentant la principale source de revenus.

Catégorie de produits	Revenus ($)	Pourcentage des ventes totales
Écouteurs stéréo des consommateurs	3,120,000	64%
Écouteurs stéréo professionnels	1,040,000	21%

Ventes d'équipements audio professionnels

L'équipement audio professionnel a contribué environ 720 000 $ aux revenus de la société au cours de l'exercice 2023.

• Casque de surveillance de studio
• Casques professionnels sans fil
• Équipement audio spécialisé

Revenus des canaux en ligne et au détail

Canal de vente	Revenus ($)	Pourcentage
Ventes en ligne directes	1,560,000	32%
Magasins de détail	2,440,000	50%
Distributeurs en gros	880,000	18%

Licence de technologie audio

Les revenus de licence pour l'exercice 2023 étaient de 240 000 $.

Ventes de produits de remplacement et d'accessoires

Les pièces et accessoires de remplacement ont généré 380 000 $ de revenus au cours de l'exercice 2023.

• Coussins d'oreille
• Câbles
• Porter des cas
• Composants de remplacement de garantie

Koss Corporation (KOSS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Koss Corporation, especially as the company navigates supply chain costs and market shifts. The value proposition centers on delivering genuine audio performance rooted in a long history.

High-fidelity, quality sound for audio enthusiasts and audiophiles.

Koss Corporation built its name on acoustic fidelity, a commitment that continues to drive recent financial success. The focus on high-quality sound is directly reflected in sales performance, particularly in export markets. For the fiscal year ended June 30, 2025, net sales reached $12,624,170, a 2.9% increase year-over-year. This growth was heavily fueled by export sales, which surged by 48% in FY2025. Furthermore, the most recent quarter available, the first quarter of fiscal year 2026 (ending September 30, 2025), showed net sales jumping by 27.1% to $4,070,778, with a significant sale to an education market customer contributing to this top-line strength. The company's dedication to engineering is evident in the improved gross profit margin, which rose to 37.8% in FY2025 from 34.1% the prior year.

This focus on quality seems to resonate with the direct-to-consumer (DTC) channel, which is a growing part of the value delivery. DTC sales increased by 16.5% in FY2025 and represented approximately 19% of net sales for that year. The first quarter of FY2026 saw DTC sales grow even faster, up 22.5%.

Here's a quick look at how recent financial performance supports the value proposition narrative:

Metric	FY2025 (Year Ended June 30, 2025)	Q1 FY2026 (Quarter Ended Sept 30, 2025)
Net Sales	$12,624,170	$4,070,778
Year-over-Year Sales Change	+2.9%	+27.1%
Gross Profit Margin	37.8%	40.0%
Net Income/(Loss)	Net Loss of $874,831	Net Income of $243,729

Iconic, retro design and comfort (e.g., Porta Pro).

Koss Corporation has earned a reputation among audiophiles for its design, which includes historical models like the Porta Pro. The company continues to focus on research and development aimed at improving acoustic fidelity, comfort, and durability. The promotion of Michael J. Koss, Jr. to Executive Vice President in late 2025 underscores the internal focus on product development and marketing strategies.

Wide range of personal audio accessories: wired, wireless, and noise-canceling.

The product offering is broad, covering various personal listening needs, which helps capture different customer needs and market segments. Koss markets a complete line of personal audio solutions, which includes:

• Over-ear and on-ear stereo headphones.
• In-ear monitors.
• Wireless Bluetooth models.
• Noise-cancelling designs.
• Reference and studio monitoring headphones for broadcast, recording, and DJ use.
• Specialized hearing health and amplification products via the Koss Hearing Technologies division.

Accessible price points compared to high-end competitors.

Koss Corporation competes across different price tiers, though the lower end is associated with lower profitability. The budget-priced stereo headphone segment, typically distributed through mass market retailers and office supply stores, tends to yield the lowest gross margins. This suggests that while accessible pricing exists, the company's recent margin improvement to 40.0% in Q1 FY2026 is likely driven by the sales mix favoring higher-priced or higher-margin new products, especially in export and DTC channels.

Durability and definitely long-standing product support.

Founded in 1953, Koss Corporation brings over seven decades of experience in the personal listening market. This long tenure supports the value proposition of durability and long-standing support. The company's operations include in-house engineering and testing, which is part of its commitment to quality. The company's five largest customers accounted for approximately 50% of net sales in fiscal year 2025, indicating strong, concentrated relationships that likely rely on consistent product performance and support. Finance: draft 13-week cash view by Friday.

Koss Corporation (KOSS) - Canvas Business Model: Customer Relationships

You're looking at Koss Corporation's customer interaction strategy as of late 2025, which is clearly pivoting away from reliance on traditional channels toward direct engagement and high-growth international partnerships. The relationship structure is a mix of high-touch direct sales and purely transactional wholesale agreements.

Direct-to-Consumer (DTC) relationship management via website and online marketplaces

Koss Corporation views its Direct-to-Consumer (DTC) channel as its primary engine for future competition against fading traditional brick-and-mortar retail. This channel allows the company better control over product messaging and pricing, which helps secure higher margins. The focus on DTC has put the company on a solid foundation for future competition. For the fiscal year ended June 30, 2025 (FY2025), DTC sales grew by 16.5% over the prior year. This growth means DTC now accounts for nearly a quarter of total sales, with the Amazon portal specifically representing approximately 19% of net sales for FY2025, up from 17% in FY2024. The momentum carried into the next fiscal period, as the DTC market grew approximately 18% in the fourth quarter of FY2025 compared to the same period last year, fueled by new product introductions and enhanced online advertising. Honestly, the most recent data shows this trend accelerating, with Q1 Fiscal Year 2026 DTC sales jumping 22.5%.

Key DTC relationship metrics for FY2025:

• DTC Sales Growth (FY2025): 16.5%
• DTC Share of Net Sales (FY2025): Nearly a quarter
• Amazon Portal Share of Net Sales (FY2025): 19%
• Q4 FY2025 DTC Growth YoY: 18%

Transactional relationships with domestic and international distributors

The relationship with distributors remains largely transactional, characterized by bulk orders and inventory management concerns. Koss Corporation still depends on its base of retailers and distributors; in fact, the company's five largest customers accounted for approximately 50% of net sales in FY2025. Domestically, this channel faced headwinds; orders from domestic distributors declined in FY2025, largely influenced by excess inventory of non-Koss product on their shelves. This domestic slowdown partially offset the significant international success. Export sales were outstanding in FY2025, increasing by 48% overall. The European market showed particular strength, with exports to the region increasing by 67%. Specifically, sales to the two largest European distributors surged by over 100% in the fourth quarter of FY2025, driven by new product sales. European distributor partners continue to express concern over exchange rate fluctuations and ongoing trade negotiations, which adds a layer of volatility to these transactional relationships.

Here's the quick math on how the major sales channels performed in the fiscal year ended June 30, 2025:

Customer Relationship Channel	FY2025 Net Sales Contribution/Change	FY2025 Financial Impact Note
Direct-to-Consumer (DTC)	Grew 16.5%	Highest margin channel; approx. 19% of net sales via Amazon.
Export/International Distributors	Increased by 48%	European sales up 67%; two largest distributors up over 100% in Q4.
Domestic Distributors/E-tailers	Declined	Offset growth due to excess non-Koss inventory with partners.
Top 5 Customers Concentration	50% of Net Sales	High dependency on a small number of large transactional partners.

Dedicated B2B sales for the Education sector and OEM customers

Koss Corporation maintains dedicated B2B sales efforts, serving both Original Equipment Manufacturers (OEMs) and the Education sector. The company markets products directly to several OEMs for integration into their own products. The Education sector experienced a noticeable disruption in FY2025, with order delays as customers hesitated to assess the impacts of federal budget cuts. However, this segment rebounded sharply in the subsequent period; a considerable sale to the largest Education market customer drove a 27.1% increase in net sales for Q1 Fiscal Year 2026. This shows that while B2B relationships can be lumpy due to external factors like government spending cycles, they can deliver significant, high-value transactions.

Key B2B/OEM relationship points:

• OEM Sales: Direct marketing for use in other products continues.
• Education Sector: Experienced order delays in FY2025 due to budget assessment.
• Education Sector Impact (Q1 FY2026): A single large sale contributed to a 27.1% net sales increase.

Customer service and support for warranty and product inquiries

The company's operations encompass end-user support, reflecting its long-standing commitment to quality in personal audio solutions. While specific statistics on customer service volume or resolution times aren't publicly detailed, the overall commitment to product quality is reflected in the improved gross margin, which reached 37.8% in FY2025, partially due to a favorable sales mix including higher-margin new products. The company also develops and distributes specialized hearing health and amplification products through its Koss Hearing Technologies division, which implies a specialized support track for those specific product lines. You're seeing a company that uses its engineering roots to back up its product claims, which is crucial for maintaining the high-touch relationship in the DTC channel.

Financial context supporting the business structure in FY2025:

• FY2025 Net Sales: $12,624,170
• FY2025 Gross Margin: 37.8%
• FY2025 Net Loss: $874,831

Finance: draft the Q1 FY2026 cash flow statement reconciliation by Monday.

Koss Corporation (KOSS) - Canvas Business Model: Channels

You're looking at how Koss Corporation moves its high-fidelity audio gear to the customer as of late 2025. The strategy clearly pivots toward channels the company can control, which helps with margin, but it still relies on a mix of traditional and digital paths.

Direct-to-Consumer (DTC) e-commerce on own website.

Koss Corporation continues to build out its own website as a primary sales channel, aiming to control the customer relationship and capture higher margins. The overall Direct-to-Consumer segment, which bundles the website and marketplaces, was a major growth engine for the company in the last fiscal year.

• The total DTC business grew by 16.5% for the full fiscal year 2025.
• In the fourth quarter of fiscal year 2025, the DTC market grew approximately 18% year-over-year.
• DTC sales growth accelerated to 22.5% in the first quarter of fiscal year 2026 (ended September 30, 2025).

Online marketplaces, with Amazon portal representing ~19% of FY2025 net sales.

The Amazon portal remains the single largest concentration of sales for Koss Corporation. This channel is integral to the DTC strategy, even though it means relying on a third-party platform. The company recognizes the material adverse effect a disruption to this channel could cause.

The Amazon portal accounted for approximately 19% of Koss Corporation's total net sales for the fiscal year ended June 30, 2025. This is up from 17% in the prior fiscal year 2024.

Independent international distributors (Europe sales surged 48% in FY2025).

Export sales were a standout performer for Koss Corporation in fiscal year 2025, significantly offsetting domestic softness. These international distributors are a key part of the global reach for the brand.

Overall export sales increased by a remarkable 48% in FY2025 compared to the previous year. Specifically, the company saw exports to the European region increase by 67% during the same period.

Domestic retail outlets and e-tailers.

Traditional domestic channels faced headwinds. Declines in orders from domestic distributors were noted, partly influenced by what the company described as excess inventory of non-Koss product held by those partners. E-tailer sales also saw a decline, which offset some of the growth from international and DTC channels.

It's worth noting that the five largest customers, which include these domestic and international wholesale partners, accounted for approximately 50% of total net sales in fiscal year 2025.

Direct sales to the Education market (school systems).

Sales to the education sector experienced a slowdown in fiscal year 2025. This was attributed to a delay in an order that was awaiting federal budget approval. This segment is sensitive to government spending cycles.

Here's a quick look at the channel performance metrics for the fiscal year ended June 30, 2025:

Channel/Metric	FY2025 Performance Figure	Comparison/Context
Total Net Sales	$12,624,170	Up 2.9% from the prior year.
Amazon Portal Sales Share	19% of Net Sales	Up from 17% in FY2024.
Total DTC Sales Growth	16.5% Increase	Key driver for improved sales mix.
Total Export Sales Growth	48% Increase	Outstanding performance against prior year.
European Distributor Sales Growth	67% Increase	Specific growth within the export segment.
Top Five Customer Concentration	50% of Net Sales	Indicates reliance on key accounts.

Koss Corporation (KOSS) - Canvas Business Model: Customer Segments

You're looking at the customer base for Koss Corporation as of late 2025, and the story is clearly one of international and direct-to-consumer strength offsetting domestic and institutional softness. The total net sales for the full fiscal year 2025 reached $12,624,170, marking a 2.9% increase over the prior year.

The core consumer base, which includes audio enthusiasts and those seeking classic designs, is increasingly being reached through the Direct-to-Consumer (DTC) channel. This segment is a major focus, having grown approximately 16.5% during FY2025. To be fair, the DTC channel now represents approximately 19% of Koss Corporation's total net sales for fiscal year 2025. This direct relationship helps Koss control its messaging, which is important for a brand with deep heritage.

International distributors and retailers are definitely the key growth area you asked about. Export sales were outstanding in FY2025, increasing by 48% year-over-year. Specifically, exports to Europe, one of the largest international markets, saw an increase of 67% for the full fiscal year. This international success is helping to balance out domestic headwinds.

Original Equipment Manufacturers (OEMs) and institutional buyers, particularly in Education, present a more volatile picture. Sales to the education market saw a significant slowdown, with one quarterly report noting a drop of nearly 60% in Q3 FY2025. This was partly due to a delay in a large project awaiting budget approval, pushing some business into fiscal year 2026. Still, the company noted higher sales to OEMs in its Asian markets contributed to the overall FY2025 growth.

Here's a quick look at how the geographic distribution of revenue stacks up for the full fiscal year 2025, which gives you a sense of where the customer base is located:

Geographic Segment	FY2025 Revenue Share	Approximate Revenue (USD)
United States	71.04%	$8,970,000
Sweden	9.89%	$1,248,000
Czech Republic	9.56%	$1,204,000
All other countries	4.68%	$590,000

The remaining revenue is split among smaller international markets including the Republic of Korea (1.64%), Malaysia (1.24%), Canada (1.04%), and Japan (0.91%). The domestic segment, which includes traditional brick-and-mortar retailers and domestic distributors, experienced declines, influenced by excess inventory at some partners.

You can see the performance metrics tied to the key segments below:

• Export Sales Growth (FY2025): 48% increase.
• Direct-to-Consumer (DTC) Sales Growth (FY2025): 16.5% increase.
• DTC Share of Net Sales (FY2025): Approximately 19%.
• Education Market Sales (Q3 FY2025): Experienced a drop of nearly 60%.

Finance: draft 13-week cash view by Friday.

Koss Corporation (KOSS) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Koss Corporation's operations as of late 2025. Honestly, for a company this size, managing the cost of goods and overhead is where the real battle is won or lost.

Cost of Goods Sold (COGS), which was $7.85 million in FY2025, represents the direct costs tied to the headphones Koss sold that year. Given that net sales for the full year ended June 30, 2025, reached $12,624,170, this COGS figure resulted in a gross margin of 37.8% for the fiscal year, an improvement from the prior year's 34.1%. That margin lift came from a favorable sales mix, including higher-margin new products.

Operating expenses are a major component, totaling $6.5 million for FY2025, marking a 7.5% increase over the previous year. A significant part of this is the selling, general, and administrative (SG&A) costs. For instance, in the second quarter of FY2025, SG&A expenses were slightly lower at $1.55 million, though this decrease was largely offset by rising legal and advertising expenses.

Tariffs on China-produced goods are definitely a headwind you need to watch. Koss Corporation noted receiving inbound shipments that were tariffed at a punitive rate of 145%. While accounting rules capitalized these tariffs on the balance sheet as part of inventory cost initially, they will bleed off as an increase in COGS when those specific items are sold over successive periods. Management expects these tariffs to continue to challenge the business.

Research and development (R&D) and product design costs are ongoing, as Koss plans to introduce new product offerings regularly for both its Bluetooth and traditional wired headphones. A related cost pressure comes from worldwide certification requirements for these new technologies, which increases the expense of regional compliance testing and impacts the time it takes to bring wireless items to market.

Litigation costs related to intellectual property enforcement are another factor pushing operating expenses higher. The increase in FY2025 operating expenses was specifically attributed, in part, to rising legal fees associated with patent litigation.

Here's a quick look at the key cost and performance metrics for the full fiscal year 2025:

Metric	Amount / Rate
Cost of Goods Sold (COGS)	$7.85 million
Total Operating Expenses (FY2025)	$6,500,000
SG&A (Q2 FY2025 Example)	$1,550,000
Net Sales (FY2025)	$12,624,170
Gross Margin (FY2025)	37.8%
Tariff Rate on Certain Imports	145% Punitive Rate
Net Loss (FY2025)	$874,831

You should keep an eye on these specific cost drivers:

• Inventory carrying costs impacted by the 145% punitive tariff rate on certain China-sourced goods.
• Increased legal expenses tied to intellectual property defense and enforcement activities.
• Rising costs for regional compliance testing related to new wireless product development.
• The stabilization of freight costs, which management expected in the quarter following the fiscal year-end.

Finance: draft 13-week cash view by Friday.

Koss Corporation (KOSS) - Canvas Business Model: Revenue Streams

Koss Corporation (KOSS) generates revenue primarily through the sales of stereo headphones and related accessory products. This includes a diverse range of high-fidelity headphones, wireless Bluetooth headphones, speakers, and various headsets.

For the fiscal year ended June 30, 2025, the top-line performance showed modest improvement. Total Net Sales for Fiscal Year 2025 were $12.62 million, which represented a 2.9% increase from the prior year's sales of $12.27 million. The gross margin also saw a positive shift, improving to 37.8% from 34.1% the previous year, helped by a favorable sales mix.

The growth drivers for the full fiscal year were clearly weighted toward international and direct channels, offsetting softness in traditional domestic distribution. You can see the breakdown of the key revenue stream dynamics below:

Revenue Segment	FY2025 Performance Metric	FY2025 Value/Change
Total Net Sales (FY2025)	Total Revenue Amount	$12.62 million
Direct-to-Consumer (DTC) Sales	Year-over-Year Growth	16.5%
Export Sales to International Distributors	Year-over-Year Growth	48%
DTC Sales as a Percentage of Total Sales (Approximate)	Share of Revenue	Nearly a quarter of the Company's sales
Sales Outside the U.S. (Approximate)	Share of Total Net Sales	Nearly 30%

The company's strategy is clearly leaning into channels it can control more directly. The Direct-to-Consumer (DTC) sales channel, which grew 16.5% in FY2025, is a key focus area, allowing Koss Corporation to control messaging and build a one-to-one relationship with consumers. This channel now accounts for nearly a quarter of the Company's total sales.

International expansion proved to be the strongest area of growth for the fiscal year. Export sales to international distributors, which grew 48% in FY2025, were outstanding, with exports to Europe specifically increasing by 67%.

Revenue streams also include sales to Original Equipment Manufacturers (OEMs) and the Education sector, though the latter experienced headwinds. Here's a quick look at the composition of the revenue streams:

• Sales of stereo headphones and related accessory products.
• Direct-to-Consumer (DTC) sales, which saw a 16.5% uptick in FY2025.
• Export sales to international distributors, surging by 48% for the fiscal year.
• Sales to Original Equipment Manufacturers (OEMs), which saw higher sales.
• Sales to the Education sector, which experienced some business shifting out of the period due to budget assessment delays.

Honestly, the performance shows a clear pivot; the 48% export growth and the 16.5% DTC growth are what pulled the total net sales up to $12.62 million for the year.