The BoAt is sinking. BoAt’s revenue dropped in FY25, yet it suddenly reported a ₹60 crore profit and is now planning to launch its IPO soon. - 2022: ₹45 crore loss - 2023: ₹129 crore loss - 2024: ₹80 crore loss - Many products are from China - Singapore-based KaHa handles concept, design, and algorithms for BoAt’s wearable products - Packed in India products - 34% of full-time employees left BoAt Co-founder Sameer Mehta resigned as CEO, and Aman Gupta resigned as CMO just 29 days before the company filed for its IPO. The founders are distancing themselves from operational responsibilities right before going public. There are many holes in this boat.