Bedding World Co Ltd posted QQ1 2025 results underscoring a meaningful top-line contraction against a backdrop of strong gross margins. Revenue declined to 176,868,500 TWD, down 14.7% year over year and 16.3% quarter over quarter, while gross profit was 120,711,000 TWD for a gross margin of 68.25%. Despite the revenue softness, the company generated EBITDA of 20,196,000 TWD and reported operating income of 10,331,000 TWD (5.84% operating margin), culminating in net income of 5,525,000 TWD (3.12% net margin) and basic EPS of 0.27. The QoQ and YoY declines were broad-based across revenue and profitability metrics, indicating a softer demand environment rather than a margin problem, given the relatively stable gross margin. SG&A expenses remained elevated at 110,173,500 TWD (roughly 62% of revenue), with selling and marketing expenditures totaling 87,574,500 TWD, highlighting continued brand and channel investments even as top-line growth decelerates.