Dogness (International) Corporation (DOGZ): Business Model Canvas [Dec-2025 Updated]

You're digging into how Dogness (International) Corporation (DOGZ) actually makes money as they push hard into pet-tech, and honestly, the numbers from fiscal 2025 tell a clear story. With total revenue hitting about $20.7 million, the real growth engine is clearly their smart products, which jumped 43.7% to $6.3 million, though OEM and private label sales remain a huge part of the mix. What's interesting is how they back this up: over 200 patents and an IoT platform built on strategic investments, all while managing a cost structure that saw $15.7 million go to cost of revenues. This canvas lays out the whole engine-from their global retail channels to the R&D spend of about $1.1 million-so you can see exactly where the risks and the next big opportunities lie for this vertically integrated player.

Dogness (International) Corporation (DOGZ) - Canvas Business Model: Key Partnerships

You're looking at the structure Dogness (International) Corporation uses to get its pet products, both smart and traditional, into the hands of pet owners globally. The partnerships here are critical for scaling their reach beyond their direct manufacturing base in Asia.

Strategic 19.5% equity investment in DITC (IoT platform)

Dogness (International) Corporation made a move on May 17, 2025, to secure a strategic foothold in pet technology by acquiring a 19.5% equity interest in Dogness Intelligent Technology Co., Ltd. (DITC). This wasn't a cash deal; the consideration's fair value was assessed at $19,000,000. The payment structure involved the issuance of 250,000 Class A common shares, 1,550,000 pre-funded warrants, and up to 2,000,000 maximum eligibility warrants to purchase Class A common shares. DITC, established in 2018, focuses on Internet of Things (IoT) and app platforms for pet monitoring and health tracking.

Global chain stores and large-scale distributors

The company relies heavily on established retail channels for its Dogness-branded and OEM products. Major retail chain customers include Petco, PetSmart, Costco, Sam's Club, Walmart, Target, and even IKEA. They also work with distributors such as Pet Valu and Petmate. This network supports a global footprint spanning North America, Europe, Australia and other markets. For the fiscal year ended June 30, 2025, international sales reached approximately $13.6 million, marking a 35.4% increase from the prior year's $10.1 million.

The customer concentration shows where the bulk of the $20.7 million in total revenue for fiscal year 2025 is coming from:

This concentration is up from fiscal 2024, where the top four customers accounted for 20.8%, 17.2%, 5.1% and 5.0% respectively.

Third-party online marketplaces (e.g., Amazon, Chewy)

Dogness (International) Corporation actively uses online channels to reach consumers directly and indirectly. Key third-party online marketplaces include the U.S. leaders Amazon and Chewy. In China, they leverage platforms like JD.com, Tmall/Taobao, and Boqii. The company is focusing R&D investment to strengthen this e-commerce and cross-border online business segment.

Wholesalers and retailers for branded and private label products

The business model supports both its own brand and contract manufacturing. Dogness (International) Corporation develops and manufactures Dogness-branded, OEM and private label pet products. Revenue from intelligent pet products specifically grew by approximately 43.7%, reaching $6.3 million in fiscal 2025, up from $4.4 million in fiscal 2024.

Logistics and cross-border shipping partners

Managing the flow of goods globally is key, especially given the monitoring of U.S. tariff policies. The company's strategy involves strengthening its logistics and supply chain to mitigate global challenges like shipping delays. They are actively exploring emerging markets to diversify away from reliance on any single market, while also enhancing their presence in the China domestic market.

• The company's total revenue for the fiscal year ended June 30, 2025, was approximately $20.7 million.
• Domestic sales in China increased by approximately 48.1% in fiscal 2025, reaching $7.1 million from $4.8 million in fiscal 2024.
• The company holds over 200 patents and patents pending, supporting its product quality assurance through its integrated vertical supply chain.

Dogness (International) Corporation (DOGZ) - Canvas Business Model: Key Activities

You're looking at the core engine driving Dogness (International) Corporation's performance as of late 2025. The key activities center on innovation, manufacturing control, and aggressive global sales execution. Honestly, the numbers from the fiscal year ended June 30, 2025, show this focus is starting to pay off in revenue growth and margin improvement.

Research and development (R&D) for smart pet technology

Dogness (International) Corporation is actively investing to maintain its position as a pet tech innovator. For the six months ended December 31, 2024, R&D expenses rose by 37.0% year-over-year, reaching about $0.7 million. This spend represented approximately 5.5% of the revenue generated during that half-year period. The leadership team is focused on leveraging these proven R&D capabilities to gain leadership in pet IoT.

• Focus on using environmentally friendly materials in new products.
• Developing new high-tech products to meet consumer demand.
• Accelerating innovation for smart feeders, potentially adding AI features.

Manufacturing and quality control across a vertical supply chain

The company maintains its manufacturing operations in Asia. A strategic move to bolster this area involved plans to acquire smaller pet product manufacturers in China during 2025 to strengthen supply chain control and operational efficiencies. This vertical integration helps manage quality and cost as sales volume increases.

Global sales, marketing, and distribution management

Managing a global footprint is a major activity, with sales and distribution networks operating across North America, Europe, Australia, and other markets. The results for the fiscal year ended June 30, 2025, show strong execution here, with total revenues hitting approximately $20.71 million. The sales team is clearly pushing the right product mix, as intelligent pet products grew by 43.7% and climbing hooks/others grew by a massive 325.2%.

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

Product design and engineering (e.g., smart feeders, GPS trackers)

Design and engineering are crucial for the intelligent pet products segment, which is a core driver of growth. Products like automatic pet feeders with smartphone connectivity and GPS-enabled smart collars are central to the portfolio. The success of these smart products validates the R&D direction, with intelligent pet products revenue reaching approximately $6.3 million in fiscal 2025. The design focus includes expanding into areas like advanced health collars and potentially automatic litter or grooming devices.

Executing cost effeciency initiatives to boost gross profit

Dogness (International) Corporation actively executes cost efficiency initiatives, which contributed to profitability in fiscal 2025. This focus helped improve the overall gross profit margin to 24.3% in fiscal 2025, a lift of 3.3 percentage points from 21.0% in fiscal 2024. Gross profit itself increased by 60.9% to nearly $5.0 million in fiscal 2025. The cost of revenues, as a percentage of revenues, actually decreased to 75.7% in fiscal 2025 from 79.0% in fiscal 2024, showing operational leverage from higher sales volume.

The improved margin structure for the fiscal year ended June 30, 2025, looks like this:

Finance: draft 13-week cash view by Friday.

Dogness (International) Corporation (DOGZ) - Canvas Business Model: Key Resources

You're looking at the core assets Dogness (International) Corporation relies on to deliver its value proposition, especially as they push further into the pet tech space. These aren't just things they own; they are the engines driving their revenue growth, which hit approximately $20.7 million in fiscal year 2025.

The foundation of their offering is heavily weighted toward proprietary technology and physical production capacity. Here's a breakdown of those tangible and intangible assets.

Intellectual Property and Product Development Assets

Dogness (International) Corporation maintains a significant portfolio of intellectual property, which underpins its smart pet device offerings. This is a critical barrier to entry for competitors in the connected pet space.

• The company has secured over 200 patents and patents pending for its pet products.
• This IP portfolio supports the design and functionality of its smart pet devices, including intelligent feeding devices with integrated cameras and two-way audio, smart drinking fountains, and treat dispensers.
• The company's R&D expenditure for the first half of fiscal year 2025 was about $0.7 million, representing approximately 5.5% of revenue for that period, showing continued investment in innovation.
• Key intellectual property also covers the design for smart wearables like GPS pet trackers that use GPS/WiFi positioning and geo-fence alert features.

Manufacturing and Operational Footprint

The ability to manufacture at scale, particularly in Asia, is a key resource that allows Dogness (International) Corporation to maintain its integrated vertical supply chain. They have a China-centric base for production and development.

• The company operates manufacturing and R&D facilities in Asia, including a facility near Xiamen, China, which covers approximately 20,000 square meters.
• This Xiamen facility was expected to double annual production capabilities for traditional products, aiming for approximately 600 SKUs manufactured there.
• The cost of revenues for the fiscal year ended June 30, 2025, was approximately $15.7 million, which this manufacturing base is designed to support through efficient cost management.

Technology Platform and Infrastructure

The software layer connecting the hardware is essential for the 'smart' aspect of their value proposition. Dogness (International) Corporation has been actively solidifying this area.

In May 2025, Dogness (International) Corporation announced a strategic investment to acquire a 19.5% equity interest in Dogness Intelligent Technology Co., Ltd. (DITC), a company focused on IoT and app platforms in the pet industry.

• This investment targets DITC's expertise in developing user-centered intelligent petcare applications that track activity and collect health data.
• The mobile application infrastructure supports remote interaction features like scheduling feedings and using two-way audio via smart feeders.
• The IoT platform infrastructure supports real-time location tracking for devices like the Smart GPS Pet Tracker, which utilizes a built-in 4G SIM and GPS/WiFi positioning.

Here's a quick look at some of the hard numbers associated with these key resources as of the fiscal year ended June 30, 2025:

To be defintely clear, the $15.7 million in cost of revenues for fiscal 2025 is the financial base that the company's working capital must support to keep operations running smoothly.

Finance: draft 13-week cash view by Friday.

Dogness (International) Corporation (DOGZ) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Dogness (International) Corporation puts on the table for its customers. It's a mix of tech-forward convenience and established pet essentials, all backed by a manufacturing base.

Simplifying pet care through intelligent, connected technology

The main draw here is making pet ownership easier with tech. This value proposition is clearly reflected in the financials, showing strong momentum in the high-tech segment. Revenue from intelligent pet products grew by 43.7% in fiscal year 2025. These aren't just gadgets; they include things like GPS-enabled smart collars and activity trackers for remote monitoring, plus automatic feeders with smartphone connectivity for real-time portion control.

Comprehensive product line: traditional accessories to smart devices

Dogness (International) Corporation doesn't rely on one category alone; they maintain a broad portfolio. For the six months ended December 31, 2024, the revenue mix showed a near-even split between the two main areas. The company is actively managing this mix, even as traditional sales face headwinds. Here's a look at the revenue breakdown from the most recent full fiscal year data available:

The total revenue for fiscal year 2025 hit approximately $20.7 million.

OEM and private label manufacturing for large retailers

Beyond the Dogness brand, a key part of the value is their role as a manufacturer for others. Dogness (International) Corporation develops and makes products under its own brand, but also heavily supports OEM (Original Equipment Manufacturer) and private label arrangements. This dual approach lets them serve a wider customer base, including large retailers, by leveraging their established manufacturing base in China.

Enhancing pet-owner bond via interactive, data-driven tools

The company positions its tech to deepen the relationship between pets and owners. They invest in R&D to support this focus; R&D expenses were 5.4% of total revenues for fiscal year 2025. Interactive toys and treat-dispensing devices are specifically designed to encourage mental stimulation when owners are away. The goal is to offer automated, data-driven tools that support pet well-being and owner convenience.

Quality and safety assurance from a vertically integrated supply chain

You get the benefit of a supply chain that Dogness (International) Corporation is actively trying to control more tightly. Management has stated plans to acquire smaller manufacturers to strengthen supply chain control and boost operational efficiencies. This focus on vertical integration is intended to ensure quality and resilience in delivering products like leashes, collars, and harnesses globally.

The overall gross profit margin improved to 24.3% in fiscal 2025, up 3.3 percentage points from the prior year, reflecting better operational efficiency.

Finance: draft 13-week cash view by Friday.

Dogness (International) Corporation (DOGZ) - Canvas Business Model: Customer Relationships

You're looking at how Dogness (International) Corporation connects with its pet-owning customers and retail partners as of late 2025. The relationship strategy is clearly multi-pronged, mixing high-tech automation with traditional wholesale deals and a push into direct online sales.

Automated service via the Dogness mobile app and IoT platform

The core of the automated relationship is the Dogness mobile app, which connects to smart pet technology products. These devices allow owners to remotely see, hear, speak, feed, play, and interact with their pets. While specific active user counts for the Dogness mobile app aren't public, the company's investment in this area is clear; in the first half of fiscal year 2025, Dogness (International) Corporation increased its Research and Development expenditure by 37% year-over-year to about $0.7 million, which represented approximately 5.5% of revenue for that period. This R&D supports the smart product ecosystem that drives app engagement.

Transactional relationships with large B2B wholesalers and retailers

A significant portion of Dogness (International) Corporation's business remains transactional, dealing with major brick-and-mortar and online retailers. For the fiscal year ended June 30, 2025, the company's international sales reached approximately $13.6 million, making up a large part of the total revenue of approximately $20.7 million. Major U.S. customers include Petco, PetSmart, Costco, Sam's Club, Walmart, and Target. These relationships are volume-driven and transactional in nature, moving large quantities of both traditional and smart products.

Direct-to-consumer (DTC) engagement through e-commerce platforms

Dogness (International) Corporation serves customers directly through its own e-commerce platforms and third-party online marketplaces, which is a key part of its growth strategy, especially in China. Domestic sales in China saw a sharp increase of 48.1% in fiscal year 2025, reaching approximately $7.1 million. This growth was partly fueled by deepening cooperation with a giant Chinese e-commerce company, which, as of late 2021, gave Dogness (International) Corporation access to over 500 million active customers on that platform. The company is actively investing in R&D to strengthen its cross-border online business.

The revenue contribution from different product lines in fiscal year 2025 shows where customer demand is strongest:

Focus on enhancing customer stickiness for long-term growth

The management has stated a focus on enhancing the stickiness of existing customers for sustainable, long-term growth. While specific 2025 customer stickiness metrics are not detailed, one analysis cited a consumer retention rate of 76% as a benchmark for the company. Improving this rate is crucial, especially as the gross profit margin improved to 28.3% in the first half of fiscal year 2025, up from 19.6% the prior year period, suggesting better value capture from the existing base.

Live-streaming sales and influencer marketing for direct connection

To deepen the direct connection with pet owners, Dogness (International) Corporation is strengthening its e-commerce and cross-border online business, which naturally supports live-streaming and influencer-driven sales models popular in the pet tech space. The selling expenses, which cover advertising and promotion, were 6.3% of total revenues in fiscal year 2025, down from 7.6% the year prior, indicating a shift in how those marketing dollars are being allocated, likely toward more measurable online channels.

• The company seeks to enhance the stickiness of existing customers.
• Intelligent pet products revenue doubled in the first half of 2025 compared to the prior year period.
• Domestic China sales grew by 92% in the half-year ended December 31, 2024.
• International sales grew by approximately 76% in the same half-year period.

Finance: draft 13-week cash view by Friday.

Dogness (International) Corporation (DOGZ) - Canvas Business Model: Channels

You're looking at how Dogness (International) Corporation moves its products from manufacturing to the end customer as of late 2025. It's a mix of global reach and heavy reliance on digital storefronts.

International sales network (North America, Europe, Australia)

Dogness (International) Corporation operates sales and distribution networks across key international regions, including North America, Europe, and Australia. The company reports that its products were sold in 35 countries during the fiscal year ended June 30, 2025. International sales accounted for 65.8% of the total sales for the year ended June 30, 2025. This segment saw an increase of approximately $3.6 million, or 35.4%, from approximately $10.1 million in fiscal 2024 to approximately $13.6 million in fiscal 2025.

Major e-commerce platforms (Amazon, Chewy, JD.com, Tmall)

The company utilizes major third-party online marketplaces to reach consumers. Dogness (International) Corporation sells its products on popular online shopping sites such as Amazon and Chewy, which are leading U.S. online pet retailers. In the Chinese market, sales occur on platforms like JD.com, Tmall, and Taobao. The strategy also involves leveraging modern channels like live-streaming sales hosted by influencers.

Global chain stores and specialty pet retailers

Dogness (International) Corporation sells through traditional retail channels, partnering with large chains and specialty pet stores to stock its smart pet gadgets and accessories. Major customers listed include large pet product retailers such as Petco, PetSmart, Costco, Walmart, Target, and IKEA.

Cross-border online business for direct international reach

The company is actively investing in Research & Development to strengthen its cross-border online business to enhance operational resilience. This is supported by the significant contribution of international sales to the overall revenue base.

Wholesalers and distributors in domestic Chinese markets

The company is focused on enhancing its presence in China's domestic market. Domestic China sales accounted for 34.2% of total sales for the year ended June 30, 2025. Revenue from sales to the related parties, Dogness Network and Dogness Technology Co., Ltd, totaled $nil million in fiscal 2025.

Here is a quick look at the financial scale related to these channels for the fiscal year ended June 30, 2025:

The growth in specific product categories also reflects channel strength:

• Revenue from intelligent pet products increased by approximately 43.7%, from approximately $4.4 million in fiscal 2024 to approximately $6.3 million in fiscal 2025.
• Revenue from climbing hooks and others was up by 325.2% compared to fiscal 2024.

Dogness (International) Corporation (DOGZ) - Canvas Business Model: Customer Segments

You're looking at the customer base for Dogness (International) Corporation as of late 2025. The company serves a few distinct groups, all centered around the growing global pet care market, especially where technology meets pet needs.

One core segment is the tech-savvy pet owner. These are the buyers driving the growth in smart pet products. For the six months ended December 31, 2024 (H1 FY2025), revenue from intelligent pet products-like feeders with smartphone connectivity and GPS collars-doubled, growing by 103.5% year-over-year to roughly $4.5 million. Overall, for the full fiscal year ended June 30, 2025, intelligent pet product sales were up 43.7%. This group is looking for automated, data-driven tools to manage their companion animals' well-being and convenience.

Another significant segment involves global wholesalers and retailers. Dogness (International) Corporation develops and markets its own Dogness-branded products but also heavily relies on OEM and private label manufacturing for these partners. This business-to-business channel supports the company's wide global footprint, which spans North America, Europe, Australia, and other markets.

The customer base is distinctly global, though the domestic market is accelerating. For the first half of fiscal 2025, international sales (outside China) accounted for about 66% of total revenue, reaching $8.0 million. Still, the domestic China market is showing faster relative growth, which the company is actively trying to enhance its presence in.

Consumers in the domestic China market are a rapidly expanding segment. For the fiscal year ended June 30, 2025, domestic sales were up 48.1%, increasing from approximately $4.8 million in fiscal 2024 to approximately $7.1 million in fiscal 2025. This growth was mainly fueled by strong demand for intelligent pet products and the climbing hooks and others category.

Finally, the company targets pet owners focused on pet health, wellness, and safety. This focus is embedded in their product strategy, which includes smart feeders and GPS trackers designed to monitor activity and location remotely. The company is investing in R&D, spending about $0.7 million in H1 FY2025, which represented ~5.5% of revenue, to develop new high-tech products meeting these demands.

Here's a quick look at the geographical split based on the first half of fiscal 2025 results:

The customer segments are being served through a mix of direct-to-consumer e-commerce, third-party online marketplaces, and traditional retail/distribution partners.

You should track the concentration risk here. For the year ended June 30, 2025, the four largest customers accounted for 27.5%, 14.2%, 13.6%, and 7.6% of total revenue, respectively. That first customer alone represents a significant portion of the total $20.71 million revenue base for FY2025.

The key customer-facing drivers for the latest reported growth include:

• Strong demand from new and existing customers across geographies.
• Increased sales volume in intelligent pet products.
• Expanded sales channels moving toward online shopping for direct customer access.
• Focus on developing new customers and markets to mitigate trade dispute risks.

Finance: draft 13-week cash view by Friday.

Dogness (International) Corporation (DOGZ) - Canvas Business Model: Cost Structure

Dogness (International) Corporation's cost structure for the fiscal year ended June 30, 2025, shows significant investment in cost of goods sold relative to revenue, alongside growing operating expenses supporting expansion.

The primary cost component remains the Cost of revenues, which increased due to higher sales volume.

• Cost of revenues, approximately $15.7 million in fiscal 2025
• Research and development (R&D) expenses of about $1.1 million in fiscal 2025
• Selling expenses of approximately $1.3 million in fiscal 2025
• General and administrative (G&A) expenses of approximately $9.2 million in fiscal 2025

The Cost of revenues represented approximately 75.7% of total revenues in fiscal 2025.

Specific breakdowns for manufacturing and raw material costs (textile, electronics) are embedded within the Cost of revenues figure of $15.7 million. Similarly, global logistics and distribution costs are not explicitly itemized but are part of the overall cost structure, influencing the Cost of Revenues and potentially the SG&A figures.

The Selling expenses accounted for approximately 6.3% of total revenues in fiscal 2025.

The General and administrative expenses increased by approximately $1.3 million or 16.9% from fiscal 2024 to fiscal 2025.

Dogness (International) Corporation (DOGZ) - Canvas Business Model: Revenue Streams

You're looking at the revenue picture for Dogness (International) Corporation as of the fiscal year ended June 30, 2025. The top line shows a significant jump in performance for the period.

Total revenue for fiscal 2025 was approximately $20.7 million, marking a substantial 39.5% increase from the prior year's approximately $14.8 million. This growth was not uniform across all segments, so understanding the drivers is key.

The growth was heavily concentrated in two areas, which you can see clearly when breaking down the sales by product type. The company is a developer and manufacturer of Dogness-branded, OEM, and private label pet products, and the sales mix reflects a strong pivot toward technology.

Here's the quick math on the product segment performance for the fiscal year ended June 30, 2025:

The massive surge in the climbing hooks and others category, up 325.2% to $5.8 million, was a major contributor, adding approximately $4.4 million to the total revenue compared to fiscal 2024. Honestly, that growth rate is eye-popping.

The sales of intelligent pet products also performed very well, increasing by 43.7% to reach $6.3 million. These two categories together drove the overall revenue increase. The company is definitely leaning into its tech offerings, which attract younger generations interested in smart pet products.

Conversely, the sales of traditional pet products, which include items like leashes, collars, and harnesses, actually saw a slight pullback. Revenue from this segment declined by 4.1% to $8.6 million, mainly due to lower average selling prices and reduced domestic sales for those specific items. Still, this segment remains the largest by dollar amount.

The primary revenue drivers for the fiscal year 2025 growth were:

• Sales of intelligent pet products (up 43.7% to $6.3 million).
• Sales of climbing hooks and others (up 325.2% to $5.8 million).

The OEM and private label product sales are embedded within these figures, as the company does not report them as a separate, distinct revenue line item in the provided breakdown, but they contribute to the overall performance of the product categories. If onboarding takes 14+ days, churn risk rises, but here, the risk is in sustaining the momentum from these two high-growth areas.

Finance: draft 13-week cash view by Friday.