Secretlab FY2022 revenue up 18%, but profit declines

Secretlab, the Singapore-based maker of gaming chairs, reported that revenue for its financial year ending February 2022 was up 18% year on year, according to its latest available statements. However, profit before tax fell by 58% to US$27 million over the same period.

My latest premium story takes a closer look at Secretlab’s financial statements, while getting some context on the numbers from Ian Ang, the company’s co-founder and CEO.

Interestingly, he says that Secretlab chairs “actually cost a lot to manufacture – we don’t make as much profit per sale as people think.”