LFTD Partners Inc. Reports Third Quarter 2024 Financial Results
LFTD Partners reported Q3 2024 financial results showing significant declines across key metrics. Revenue decreased 34% to $8.69M from $13.11M in Q3 2023. The company recorded an operating loss of $140,703, compared to income of $659,539 in the prior year period. Net loss was $194,399 versus net income of $617,648 year-over-year. Cash position declined 22% to $4.17M, while inventory decreased 4% to $9.75M. Current assets fell 19% to $17.45M, though the current ratio improved to 2.64 from 2.49.
LFTD Partners ha riportato i risultati finanziari del terzo trimestre 2024, evidenziando significativi cali in vari indicatori chiave. I ricavi sono diminuiti del 34%, passando da 13,11 milioni di dollari a 8,69 milioni di dollari nel Q3 2023. L'azienda ha registrato una perdita operativa di 140.703 dollari, rispetto a un profitto di 659.539 dollari nello stesso periodo dell'anno precedente. La perdita netta è stata di 194.399 dollari, contro un reddito netto di 617.648 dollari anno su anno. La posizione di cassa è diminuita del 22%, scendendo a 4,17 milioni di dollari, mentre l'inventario è calato del 4%, arrivando a 9,75 milioni di dollari. Gli attivi correnti sono scesi del 19%, attestandosi a 17,45 milioni di dollari, sebbene il rapporto corrente sia migliorato a 2,64 rispetto a 2,49.
LFTD Partners informó los resultados financieros del tercer trimestre de 2024, mostrando caídas significativas en varios métricas clave. Los ingresos disminuyeron un 34%, bajando de 13,11 millones de dólares a 8,69 millones de dólares en el tercer trimestre de 2023. La compañía registró una pérdida operativa de 140.703 dólares, en comparación con una ganancia de 659.539 dólares en el mismo período del año anterior. La pérdida neta fue de 194.399 dólares frente a una ganancia neta de 617.648 dólares interanualmente. La posición de efectivo disminuyó un 22% a 4,17 millones de dólares, mientras que el inventario cayó un 4% a 9,75 millones de dólares. Los activos corrientes cayeron un 19% a 17,45 millones de dólares, aunque el ratio corriente mejoró a 2,64 desde 2,49.
LFTD Partners는 2024년 3분기 재무 결과를 보고했으며, 주요 지표에서 상당한 감소를 보여주었습니다. 수익은 3분기 2023년의 13.11백만 달러에서 8.69백만 달러로 34% 감소했습니다. 회사는 전년 대비 659,539달러의 수익과 비교하여 140,703달러의 운영 손실을 기록했습니다. 순손실은 617,648달러의 순이익에 비해 194,399달러였습니다. 현금 보유액은 4.17백만 달러로 22% 감소했으며, 재고는 9.75백만 달러로 4% 줄어들었습니다. 유동 자산은 17.45백만 달러로 19% 감소했지만, 유동비율은 2.49에서 2.64로 개선되었습니다.
LFTD Partners a rapporté les résultats financiers du troisième trimestre 2024, montrant des baisses significatives dans plusieurs indicateurs clés. Les revenus ont diminué de 34 %, passant de 13,11 millions de dollars à 8,69 millions de dollars au T3 2023. L'entreprise a enregistré une perte d'exploitation de 140 703 dollars, contre un bénéfice de 659 539 dollars l'année précédente. La perte nette s'est élevée à 194 399 dollars, contre un bénéfice net de 617 648 dollars d'une année à l'autre. La position de trésorerie a diminué de 22 % pour atteindre 4,17 millions de dollars, tandis que l'inventaire a baissé de 4 % à 9,75 millions de dollars. Les actifs courants ont chuté de 19 % pour atteindre 17,45 millions de dollars, bien que le ratio courant se soit amélioré, passant de 2,49 à 2,64.
LFTD Partners hat die finanziellen Ergebnisse für das dritte Quartal 2024 veröffentlicht, die erhebliche Rückgänge bei wichtigen Kennzahlen zeigen. Der Umsatz sank um 34 % auf 8,69 Millionen Dollar von 13,11 Millionen Dollar im dritten Quartal 2023. Das Unternehmen verzeichnete einen operativen Verlust von 140.703 Dollar, verglichen mit einem Gewinn von 659.539 Dollar im Vorjahreszeitraum. Der Nettoverlust betrug 194.399 Dollar im Vergleich zu einem Nettoergebnis von 617.648 Dollar im Jahresvergleich. Die Liquiditätslage sank um 22 % auf 4,17 Millionen Dollar, während der Lagerbestand um 4 % auf 9,75 Millionen Dollar fiel. Die kurzfristigen Vermögenswerte fielen um 19 % auf 17,45 Millionen Dollar, obwohl das aktuelle Verhältnis von 2,49 auf 2,64 anstieg.
- Current ratio improved to 2.64 from 2.49
- Notes payable to Surety Bank decreased 10% to $3.48M
- Revenue declined 34% to $8.69M from $13.11M
- Operating loss of $140,703 vs income of $659,539 year-over-year
- Net loss of $194,399 vs net income of $617,648
- Cash position decreased 22% to $4.17M
- Current assets declined 19% to $17.45M
- Working capital decreased 16% to $10.85M
JACKSONVILLE, FL / ACCESSWIRE / November 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 third quarter ended September 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 - Q3 2024 Compared to Q3 2023:
Revenue decreased
34% to$8,691,675 , down from$13,106,280 Operating loss was
$140,703 , compared to income of$659,539 Net loss was
$194,399 , compared to net income of$617,648 Basic loss per share was
$0.01 per share, compared to basic income per share of$0.04 Diluted loss per share was
$0.01 per share, compared to diluted income per share of$0.04 Basic and diluted weighted average shares outstanding for the three months ended September 30, 2024 were both 14,822,678
Balance Sheet - September 30, 2024 Compared to December 31, 2023:
Cash on hand, which includes
$1,000,000 of restricted cash, decreased22% to$4,174,805 , down from$5,357,539 Inventory decreased
4% to$9,748,937 , down from$10,174,667 Current assets decreased
19% to$17,446,160 , down from$21,668,980 Current ratio increased to 2.64 from 2.49
Working capital decreased
16% to$10,848,003 , down from$12,982,236 Notes payable to Surety Bank decreased
10% to$3,480,467 , down from$3,854,851
Earnings Conference Call and Webcast Information:
LFTD Partners will host an earnings conference call and webcast today, Friday, November 15, 2024 at 8:30 AM ET.
Participant phone numbers:
Toll Free: 877-545-0320
International: 973-528-0002
Participant Access Code: 826050
Webcast event link:
https://www.webcaster4.com/Webcast/Page/2916/51670
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 Liquids, Inc. d/b/a Lifted Made and d/b/a Urb Finest Flowers. 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. None of the statements contained herein have been approved by the Food and Drug Administration, and none of the products manufactured or sold by Lifted Made are intended to diagnose, treat, cure or prevent any disease. This press release does not constitute an offer to sell common stock or any other securities of LFTD Partners Inc.
Contact Information
Gerard M. Jacobs
Chairman and CEO of LFTD Partners Inc.
(847) 915-2446
GerardMJacobs@LFTDPartners.com
Nicholas S. Warrender
Vice Chairman and COO of LFTD Partners Inc.
(224) 577-8148
CEO@urb.shop
William C. "Jake" Jacobs
President and CFO of LFTD Partners Inc.
(847) 400-7660
JakeJacobs@LFTDPartners.com
SOURCE: LFTD Partners Inc.
View the original press release on accesswire.com
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