LFTD Partners Inc. Reports QoQ Revenue Up 41%, Net Income Up 118%, and Diluted EPS up 125% During Q1 2022

Rhea-AI Summary

LFTD Partners (OTCQB:LIFD) reported record financial results for Q1 2022, showing significant growth compared to both the previous quarter and the same quarter last year. Revenue surged 41% from Q4 2021 to $18,088,877, while net income jumped 118% to $2,944,793. On a year-over-year basis, revenue increased 439%, and net income rose 376%. Lifted Made's product sales heavily favored hemp-derived products, contributing to 96% of total sales. The company is actively pursuing $10-$15 million in debt financing to support continued growth and inventory needs.

Positive

• Revenue increased 41% quarter-over-quarter to $18,088,877.
• Net income rose 118% from Q4 2021 to $2,944,793.
• Basic earnings per share grew 110% to $0.21, and diluted earnings per share increased 125% to $0.18.
• Revenue surged 439% year-over-year compared to Q1 2021.
• The company has maintained positive GAAP earnings per share for seven consecutive quarters.

Negative

• Sales growth has created inventory challenges, making it difficult to maintain sufficient raw materials and finished products.
• The company is considering raising $10-$15 million in debt, which may affect financial stability.

JACKSONVILLE, FL / ACCESSWIRE / May 12, 2022 / LFTD Partners Inc. ("LFTD Partners" or the "Company") (OTCQB:LIFD), the corporate parent of leading cannabis and psychedelics-lifestyle and consumer packaged goods manufacturer Lifted Made, today announced record quarterly revenue, net income, and diluted earnings per share for Q1 2022.

Financial Highlights - Q1 2022 compared to Q4 2021

• Revenue up 41% to $18,088,877, up from $12,787,566 in Q4 2021
• Net income up 118% to $2,944,793, up from $1,349,292 in Q4 2021
• Basic earnings per share up 110% to $0.21 per share, up from basic earnings per share of $0.10 in Q4 2021
• Diluted earnings per share up 125% to $0.18 per share, up from diluted earnings per share of $0.08 in Q4 2021

Financial Highlights - Q1 2022 compared to Q1 2021

• Revenue up 439% to $18,088,877, up from $3,353,270 in Q1 2021
• Net income up 376% to $2,944,793, up from $618,359 in Q1 2021
• Basic earnings per share up 163% to $0.21 per share, up from basic earnings per share of $0.08 in Q1 2021
• Diluted earnings per share up 350% to $0.18 per share, up from diluted earnings per share of $0.04 in Q1 2021

Q1 2022 is LFTD Partners' seventh consecutive quarter of positive GAAP-basis earnings per share.

During Q1 2022, sales of products under Lifted Made's hemp-derived products brand Urb Finest Flowers made up 96% of Lifted Made's sales; sales of products under Lifted Made's non-hemp-derived psychedelics products brand Silly Shruum made up the other 4% of Lifted Made's sales.

Nicholas S. Warrender, Vice Chairman and COO of LFTD Partners, and founder and CEO of Lifted Made, said, "Our tremendous quarter-over-quarter growth in revenue and profitability during Q1 2022 reflects Lifted Made's talented team and diversified product portfolio, including our award-winning brand of hemp-derived cannabinoid products Urb Finest Flowers and our psychedelics brand Silly Shruum which successfully launched in January. We are well on our way toward achieving our 2022 revenue goal of $75 million or more."

William C. "Jake" Jacobs, CPA, President and CFO of LFTD Partners, said: "Our balance sheet is continuing to strengthen, driven by our healthy EBITDA margin, which was 23% in Q1 2022. For example, despite recently paying down millions of dollars in debts and taxes, and building up millions of dollars worth of inventory, our cash on hand currently exceeds $3.4 million. Nevertheless, Lifted Made's runaway sales growth has made it very difficult to keep enough raw materials, packaging and finished inventory in stock. Consequently, LFTD Partners is continuing to explore the possibility of raising $10-$15 million in the form of debt that would be used to pay off our remaining $2.75 million note payable to Nick Warrender, to purchase Lifted Made's headquarters building in Kenosha for $1.375 million, and to add millions of dollars to Lifted Made's working capital so that its sales are less likely to be held back by a lack of raw materials and finished inventory as has happened often during the past two years."

About LFTD Partners Inc.

LFTD Partners Inc. (OTCQB:LIFD) is focused upon acquiring rapidly growing and profitable companies that sell branded hemp-derived cannabinoid products, emerging psychedelic products, and other alternative lifestyle products. LFTD Partners' first wholly-owned subsidiary is Lifted Made (www.LiftedMade.com), Kenosha, Wisconsin, which sells award-winning hemp-derived cannabinoid products and other psychedelic and alternative lifestyle products under its flagship brands Urb Finest Flowers and Silly Shruum. LFTD Partners also owns 4.99% of CBD-infused beverage and products maker Ablis (www.AblisBev.com), and of distillers Bendistillery Inc. d/b/a Crater Lake Spirits (www.CraterLakeSpirits.com) and Bend Spirits, Inc., all located in Bend, Oregon.

Please read LIFD's filings with the U.S. Securities and Exchange Commission which fully describe our business and the Risk Factors associated therewith. Learn more by subscribing to our newsletters at www.LFTDPartners.com and www.LiftedMade.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes the acquisition, financing, revenue growth, profitability, and product strategies, plans and expectations of LFTD Partners Inc. and Lifted Made. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to the actual results of these companies' merger plans, financing plans, operations, or the performance or achievements of these companies differing materially from those expressed or implied by the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain other factors, including the risk factors set forth in LFTD Partners Inc.'s filings with the Securities and Exchange Commission. This press release does not constitute an offer to sell common stock or any other securities of LFTD Partners Inc.

CONTACTS:

Lifted Made
Attn: Nicholas S. Warrender, CEO
Phone: (224) 577-8148
Email: CEO@LiftedMade.com
Website: www.LiftedMade.com

LFTD Partners Inc.
Attn: William C. "Jake" Jacobs, CPA, President and CFO
Phone: (847) 400-7660
Email: JakeJacobs@LFTDPartners.com
Website: www.LFTDPartners.com

SOURCE: LFTD Partners Inc.

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https://www.accesswire.com/701086/LFTD-Partners-Inc-Reports-QoQ-Revenue-Up-41-Net-Income-Up-118-and-Diluted-EPS-up-125-During-Q1-2022

FAQ

What were LFTD Partners' financial results for Q1 2022?

LFTD Partners reported revenue of $18,088,877, a 41% increase from Q4 2021, and net income of $2,944,793, up 118%.

How does LFTD Partners' Q1 2022 performance compare to Q1 2021?

Q1 2022 revenue increased 439% compared to Q1 2021, while net income rose 376%.

What percentage of sales in Q1 2022 came from hemp-derived products?

In Q1 2022, 96% of Lifted Made's sales were from hemp-derived products.

What financing options is LFTD Partners considering?

LFTD Partners is exploring raising $10-$15 million in debt for operational needs, including inventory and debt repayment.

What is the outlook for LFTD Partners regarding future revenue?

LFTD Partners aims to achieve a revenue target of $75 million or more in 2022.