LFTD Partners Inc. Reports Second Quarter 2024 Financial Results
LFTD Partners Inc. (OTCQB:LIFD) reported its Q2 2024 financial results, showing a 24% decrease in revenue to $9,487,299 compared to Q2 2023. The company experienced an operating loss of $582,745, contrasting with an operating income of $2,372,674 in the same period last year. Net loss was $523,212, resulting in a basic and diluted loss per share of $0.04. The balance sheet as of June 30, 2024, revealed a 17% decrease in cash to $3,613,788 and a 28% reduction in inventory to $7,348,485. Despite these declines, the company's current ratio improved to 3.10 from 2.49, indicating better short-term liquidity. LFTD Partners will host an earnings conference call and webcast on August 15, 2024, at 8:30 AM ET to discuss these results.
LFTD Partners Inc. (OTCQB:LIFD) ha riportato i risultati finanziari per il Q2 2024, mostrando un r decremento del 24% nei ricavi a $9,487,299 rispetto al Q2 2023. L'azienda ha registrato una perdita operativa di $582,745, contrariamente a un reddito operativo di $2,372,674 nello stesso periodo dell'anno scorso. La perdita netta è stata di $523,212, con una perdita per azione, base e diluita, di $0.04. Il bilancio al 30 giugno 2024 ha rivelato una riduzione del 17% della liquidità a $3,613,788 e una riduzione del 28% delle scorte a $7,348,485. Nonostante questi cali, il rapporto corrente è migliorato a 3.10 rispetto a 2.49, indicando una migliore liquidità a breve termine. LFTD Partners ospiterà una conferenza telefonica sui guadagni e una webcasting il 15 agosto 2024 alle 8:30 AM ET per discutere di questi risultati.
LFTD Partners Inc. (OTCQB:LIFD) reportó sus resultados financieros del Q2 2024, mostrando una disminución del 24% en los ingresos a $9,487,299 en comparación con el Q2 2023. La empresa experimentó una pérdida operativa de $582,745, contrastando con un ingreso operativo de $2,372,674 en el mismo período del año pasado. La pérdida neta fue de $523,212, lo que resultó en una pérdida básica y diluida por acción de $0.04. El balance al 30 de junio de 2024 reveló una reducción del 17% en efectivo a $3,613,788 y una reducción del 28% en inventario a $7,348,485. A pesar de estos descensos, el índice de liquidez corriente mejoró a 3.10 desde 2.49, indicando una mejor liquidez a corto plazo. LFTD Partners llevará a cabo una conferencia telefónica sobre ganancias y un webcast el 15 de agosto de 2024 a las 8:30 AM ET para discutir estos resultados.
LFTD Partners Inc. (OTCQB:LIFD)는 2024년 2분기 재무 결과를 보고하며 수익이 24% 감소하여 $9,487,299에 이르렀다고 발표했습니다. 작년 같은 기간의 운영 수익 $2,372,674와 비교하여 운영 손실이 $582,745 발생했습니다. 순손실은 $523,212로, 주당 기본 및 희석 손실은 $0.04입니다. 2024년 6월 30일 기준으로 대차대조표에서 현금이 17% 감소하여 $3,613,788에 도달했으며, 재고가 28% 감소하여 $7,348,485가 되었습니다. 이러한 감소에도 불구하고 회사의 유동비율은 2.49에서 3.10으로 개선되었습니다, 이는 단기 유동성이 좋아졌음을 나타냅니다. LFTD Partners는 2024년 8월 15일 오전 8시 30분(ET)에 이 결과를 논의하기 위한 실적 전화 회의 및 웹캐스트를 개최할 예정입니다.
LFTD Partners Inc. (OTCQB:LIFD) a publié ses résultats financiers pour le T2 2024, montrant une diminution de 24% des revenus à 9,487,299 $ par rapport au T2 2023. L'entreprise a enregistré une perte d'exploitation de 582,745 $, contrastant avec un résultat d'exploitation de 2,372,674 $ durant la même période l'année précédente. La perte nette s'est élevée à 523,212 $, entraînant une perte par action, de base et diluée, de 0,04 $. Le bilan au 30 juin 2024 a révélé une diminution de 17% de la trésorerie à 3,613,788 $ et une réduction de 28% des stocks à 7,348,485 $. Malgré ces diminutions, le ratio de liquidité courant s'est amélioré à 3,10 contre 2,49, indiquant une meilleure liquidité à court terme. LFTD Partners organisera une conférence téléphonique et un webinaire sur les résultats le 15 août 2024 à 8h30 (ET).
LFTD Partners Inc. (OTCQB:LIFD) berichtete über die Finanzzahlen des Q2 2024 und verzeichnete einen Rückgang der Einnahmen um 24% auf $9,487,299 im Vergleich zum Q2 2023. Das Unternehmen erlitt einen Betriebsverlust von $582,745, im Gegensatz zu einem Betriebsertrag von $2,372,674 im gleichen Zeitraum des Vorjahres. Der Nettoverlust betrug $523,212, was zu einem Basis- und verwässerten Verlust pro Aktie von $0.04 führte. Die Bilanz zum 30. Juni 2024 wies einen Rückgang der liquiden Mittel um 17% auf $3,613,788 und eine Reduzierung des Inventars um 28% auf $7,348,485 aus. Trotz dieser Rückgänge verbesserte sich das Current Ratio auf 3.10 von 2.49, was auf eine bessere kurzfristige Liquidität hinweist. LFTD Partners wird am 15. August 2024 um 8:30 Uhr ET eine Telefonkonferenz und einen Webcast zu den Ergebnissen abhalten.
- Current ratio improved to 3.10 from 2.49, indicating better short-term liquidity
- Notes payable to Surety Bank decreased by 6% to $3,608,026
- Revenue decreased by 24% to $9,487,299 compared to Q2 2023
- Operating loss of $582,745 compared to operating income of $2,372,674 in Q2 2023
- Net loss of $523,212 compared to net income of $1,659,461 in Q2 2023
- Basic and diluted loss per share of $0.04 compared to income per share of $0.11 and $0.10 respectively in Q2 2023
- Cash on hand decreased by 17% to $3,613,788
- Inventory decreased by 28% to $7,348,485
- Current assets decreased by 25% to $16,319,984
- Working capital decreased by 15% to $11,056,730
JACKSONVILLE, FL / ACCESSWIRE / August 15, 2024 / LFTD Partners Inc. ("LFTD Partners" or the "Company") (OTCQB:LIFD), the corporate parent of leading hemp, wellness and energy products maker Lifted Made, today reported its financial results for the second quarter ended June 30, 2024. Financial results are reported in accordance with U.S. generally accepted accounting principles and all currency is in U.S. dollars.
Income Statement - Q2 2024 Compared to Q2 2023:
Revenue decreased
24% to$9,487,299 , down from$12,522,542 Operating loss was
$582,745 , compared to operating income of$2,372,674 Net loss was
$523,212 , compared to net income of$1,659,461 Basic loss per share was
$0.04 , compared to a basic income per share of$0.11 Diluted loss per share was
$0.04 , compared to diluted income per share of$0.10 Basic and diluted weighted average shares outstanding for the three months ended June 30, 2024 were both 14,759,282
Balance Sheet - June 30, 2024 Compared to December 31, 2023:
Cash on hand decreased
17% to$3,613,788 , down from$4,357,539 Inventory decreased
28% to$7,348,485 , down from$10,174,667 Current assets decreased
25% to$16,319,984 , down from$21,668,980 Current ratio increased to 3.10 from 2.49
Working capital decreased
15% to$11,056,730 , down from$12,982,236 Notes payable to Surety Bank decreased
6% to$3,608,026 , down from$3,854,851
Earnings Conference Call and Webcast Information:
LFTD Partners will host an earnings conference call and webcast today, Thursday, August 15, 2024 at 8:30 AM ET.
Participant phone numbers:
Toll Free: 877-545-0320
International: 973-528-0002
Participant Access Code: 332191
Webcast event link:
https://www.webcaster4.com/Webcast/Page/2916/51081
The participant phone numbers and webcast event link are shown on the Investor Relations section of LFTD Partners' website at https://www.lftdpartners.com/investors.
The webcast replay will also be available on the Investor Relations section of LFTD Partners' website.
Although attendees will have the opportunity to submit questions during the earnings conference call, attendees are encouraged to submit questions prior to the call by emailing them to: jakejacobs@lftdpartners.com.
About LFTD Partners Inc.
Publicly traded LFTD Partners Inc., Jacksonville, FL (OTCQB:LIFD) is the parent corporation of Lifted Made, Kenosha, WI (www.urb.shop), which manufactures and sells hemp-derived and other psychoactive products under its award-winning Urb brand, hemp-free health and wellness gummies under its Mielos brand, and hemp-free energy gummies under its Rebel brand. Lifted Made is the worldwide, exclusive manufacturer and seller of Diamond Supply Co. (www.DiamondSupplyCo.com), and Cali Sweets hemp-derived products, and is the exclusive manufacturer and seller in the USA of hemp-derived products for a subsidiary of a large, publicly traded US marijuana company. LFTD Partners Inc. also owns
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 operations, financing, growth, performance, products, 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 these companies' actual operations, financing, growth, performance, products, plans or results 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:
Gerard M. Jacobs, Chairman and CEO of LFTD Partners Inc.
(847) 915-2446
GerardMJacobs@LFTDPartners.com
www.LFTDPartners.com
Nicholas S. Warrender, Vice Chairman and COO of LFTD Partners Inc.
(224) 577-8148
CEO@urb.shop
www.LFTDPartners.com
William C. "Jake" Jacobs, President and CFO of LFTD Partners Inc.
(847) 400-7660
JakeJacobs@LFTDPartners.com
www.LFTDPartners.com
SOURCE: LFTD Partners Inc.
View the original press release on accesswire.com
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