Welcome to our dedicated page for Hour Loop news (Ticker: HOUR), a resource for investors and traders seeking the latest updates and insights on Hour Loop stock.
Hour Loop Inc (HOUR) is a Seattle-based e-commerce innovator leveraging machine learning and data analytics to drive its multi-platform retail strategy. This news hub provides investors and market observers with verified corporate updates directly from company filings and official communications.
Our curated collection features essential developments including quarterly earnings disclosures, strategic partnership announcements, and technology initiatives shaping the company's position in competitive online retail markets. Users gain access to operational updates spanning product launches, marketplace expansions, and leadership changes.
Bookmark this page for streamlined tracking of Hour Loop's progress in applying data science to consumer product retail. Check regularly for new filings detailing financial performance, governance updates, and innovation milestones that impact long-term growth trajectories.
Hour Loop (NASDAQ: HOUR) reported its full year 2024 financial results, showing continued profitability despite economic challenges. Net revenues increased 4.6% to $138.3 million, compared to $132.1 million in 2023. The company achieved a net income of $0.66 million, reversing from a net loss of $2.43 million in 2023.
Key metrics include improved gross margin of 52.1% (up 1.8%) and reduced operating expenses as a percentage of revenue to 51.6% (down 1%). Cash position stood at $2.1 million, with inventory levels stable at $14.6 million.
For 2025 guidance, Hour Loop projects net revenue between $145-160 million (5-15% growth) and net income ranging from $0.5-2 million.
Hour Loop (NASDAQ: HOUR) reported Q3 2024 financial results with net revenues increasing 6.6% to $31.1 million compared to $29.1 million in Q3 2023. The company achieved a net income of $0.5 million, improving from a $0.02 million loss year-over-year. Gross profit percentage increased to 54.8% from 52.6%. Operating expenses as percentage of revenues slightly increased to 52.5%. Cash position stood at $1.2 million, down from $2.5 million at end of 2023. The company maintained its full-year 2024 guidance with expected revenues of $165-250 million and net income of $4-6 million.
Hour Loop (NASDAQ: HOUR) reported strong Q2 2024 results, with net revenues increasing 25.2% to $28.1 million and net income reaching $0.6 million, compared to a net loss in the year-ago period. The company's gross profit percentage improved by 5.0% to 55.7%, while operating expenses as a percentage of net revenues decreased by 2.1% to 52.3%. Hour Loop's CEO, Sam Lai, expressed confidence in the company's ability to maintain growth and profitability despite economic uncertainties. The company has increased its full-year 2024 guidance, projecting net revenue between $165 million and $250 million, representing 25% to 89% year-over-year growth, and net income between $4 million and $6 million.
Hour Loop, Inc. (NASDAQ: HOUR) reported its first quarter 2024 results, showing an increase in net revenues by 17.2% to $24.7 million and a net income of $1.1 million compared to a loss of $1.2 million the previous year. The company's gross profit percentage increased to 58.5%, and operating expenses decreased to 52.3% of net revenues. Hour Loop has a positive outlook for 2024, expecting net revenue between $145 million to $172 million and net income between $0.5 million to $2 million.
Hour Loop, Inc. (NASDAQ: HOUR) reported a strong revenue growth of 52.8% in 2022, with net revenues reaching $95.9 million compared to $62.8 million in 2021. However, the company faced a net loss of $1.5 million, down from a net income of $4.8 million in the previous year. Increased operating expenses, which rose 73.7% to $50.9 million, were due to high Amazon fees and labor costs. Despite these challenges, the company anticipates gross revenue growth of 10% to 20% in 2023, projecting revenues between $112 million and $122 million.
Hour Loop, Inc. reported strong third-quarter 2022 results, with revenues increasing by 68.4% year-over-year to $17.6 million. Despite a challenging e-commerce environment, the company returned to profitability, achieving a net income of $0.15 million following two consecutive quarters of losses. Operating expenses rose 78.8% to $9.5 million due to higher platform fees and workforce growth. The company has raised its full-year revenue guidance to $91 million to $100 million, indicating a 36% to 50% growth compared to the previous year.
