LQR House Announces Audited Revenue Results for the Twelve-Month Period Ended December 31, 2024
LQR House (NASDAQ:YHC) reported its audited financial results for 2024, showing significant revenue growth of 123.2% to reach $2,501,660, compared to $1,120,622 in 2023.
The company underwent major restructuring efforts in collaboration with activist investor David Lazar, implementing retention and severance packages that resulted in higher operating expenses. The restructuring included team reorganization, discontinuation of high-cost verticals, and appointment of new board members focused on cost management and international expansion.
CEO Sean Dollinger highlighted the company's transformation, emphasizing growth in both their core e-commerce platform and SWOL Tequila brand. LQR House aims to achieve EBIDA positive status in 2025 through operational efficiency and strategic expansion initiatives.
LQR House (NASDAQ:YHC) ha riportato i suoi risultati finanziari auditati per il 2024, mostrando una crescita significativa dei ricavi del 123,2% raggiungendo $2.501.660, rispetto a $1.120.622 nel 2023.
La società ha intrapreso importanti sforzi di ristrutturazione in collaborazione con l'investitore attivista David Lazar, implementando pacchetti di retention e di licenziamento che hanno comportato spese operative più elevate. La ristrutturazione ha incluso la riorganizzazione del team, l'interruzione di verticali ad alto costo e la nomina di nuovi membri del consiglio focalizzati sulla gestione dei costi e sull'espansione internazionale.
Il CEO Sean Dollinger ha evidenziato la trasformazione dell'azienda, sottolineando la crescita sia della loro piattaforma e-commerce principale che del marchio SWOL Tequila. LQR House punta a raggiungere uno stato di EBIDA positivo nel 2025 attraverso l'efficienza operativa e iniziative di espansione strategica.
LQR House (NASDAQ:YHC) reportó sus resultados financieros auditados para 2024, mostrando un crecimiento significativo en los ingresos del 123.2% alcanzando $2,501,660, en comparación con $1,120,622 en 2023.
La compañía llevó a cabo importantes esfuerzos de reestructuración en colaboración con el inversor activista David Lazar, implementando paquetes de retención y despido que resultaron en mayores gastos operativos. La reestructuración incluyó la reorganización del equipo, la discontinuación de verticales de alto costo y la designación de nuevos miembros de la junta centrados en la gestión de costos y la expansión internacional.
El CEO Sean Dollinger destacó la transformación de la empresa, enfatizando el crecimiento tanto en su plataforma de comercio electrónico principal como en la marca de tequila SWOL. LQR House tiene como objetivo alcanzar un estado positivo de EBIDA en 2025 a través de la eficiencia operativa y las iniciativas de expansión estratégica.
LQR House (NASDAQ:YHC)는 2024년 감사된 재무 결과를 발표하며, 2023년 $1,120,622에 비해 123.2%의 상당한 수익 성장을 기록하여 $2,501,660에 도달했습니다.
회사는 행동주의 투자자 David Lazar와 협력하여 주요 구조조정 노력을 진행하였으며, 이로 인해 더 높은 운영비용을 초래하는 유지 및 해고 패키지를 시행했습니다. 구조조정에는 팀 재편성, 고비용 수직 사업 중단, 비용 관리 및 국제 확장에 초점을 맞춘 새로운 이사회의 임명이 포함되었습니다.
CEO Sean Dollinger는 회사의 변화를 강조하며, 핵심 전자상거래 플랫폼과 SWOL 테킬라 브랜드 모두에서의 성장을 강조했습니다. LQR House는 운영 효율성과 전략적 확장 이니셔티브를 통해 2025년 EBIDA 긍정 상태를 달성하는 것을 목표로 하고 있습니다.
LQR House (NASDAQ:YHC) a annoncé ses résultats financiers audités pour 2024, affichant une croissance significative des revenus de 123,2% pour atteindre $2,501,660, contre $1,120,622 en 2023.
La société a entrepris d'importants efforts de restructuration en collaboration avec l'investisseur activiste David Lazar, mettant en œuvre des packages de rétention et de licenciement qui ont entraîné des frais d'exploitation plus élevés. La restructuration a inclus la réorganisation de l'équipe, l'arrêt des verticales à coût élevé et la nomination de nouveaux membres du conseil axés sur la gestion des coûts et l'expansion internationale.
Le PDG Sean Dollinger a souligné la transformation de l'entreprise, mettant en avant la croissance tant de leur plateforme de commerce électronique que de la marque de tequila SWOL. LQR House vise à atteindre un statut EBIDA positif en 2025 grâce à l'efficacité opérationnelle et à des initiatives d'expansion stratégique.
LQR House (NASDAQ:YHC) hat seine geprüften Finanzzahlen für 2024 veröffentlicht und zeigt ein signifikantes Umsatzwachstum von 123,2%, das $2.501.660 erreicht, verglichen mit $1.120.622 im Jahr 2023.
Das Unternehmen hat bedeutende Umstrukturierungsmaßnahmen in Zusammenarbeit mit dem aktivistischen Investor David Lazar durchgeführt und dabei Rückhalt- und Abfindungspakete implementiert, die zu höheren Betriebsausgaben führten. Die Umstrukturierung umfasste eine Teamneuorganisation, die Einstellung von hochpreisigen Vertikalen und die Ernennung neuer Vorstandsmitglieder, die sich auf Kostenmanagement und internationale Expansion konzentrierten.
CEO Sean Dollinger hob die Transformation des Unternehmens hervor und betonte das Wachstum sowohl in ihrer Kern-E-Commerce-Plattform als auch in der Marke SWOL Tequila. LQR House strebt an, bis 2025 einen positiven EBIDA-Status durch operative Effizienz und strategische Expansionsinitiativen zu erreichen.
- Revenue more than doubled (+123.2%) to $2.5M in 2024
- Growth in both core e-commerce platform and SWOL Tequila brand
- Strategic restructuring implemented to improve operational efficiency
- New board members appointed focusing on cost management and international expansion
- Higher operating expenses due to retention and severance packages
- Company not yet profitable, targeting EBIDA positive only by 2025
- Discontinued several business verticals
Insights
LQR House's financial results showcase 123.2% year-over-year revenue growth, with
The collaboration with activist investor David Lazar and board restructuring signals previous operational inefficiencies. The company implemented retention and severance packages—typically indicators of workforce reduction—suggesting they're streamlining operations while trying to retain key talent. The explicit mention of discontinued "high-cost verticals" confirms they're pruning unprofitable segments to focus resources on core growth areas.
Most revealing is management's stated goal of becoming "EBIDA positive" in 2025, which acknowledges they're currently operating at a loss. For context, LQR's
The dual focus on e-commerce platform expansion and developing their owned SWOL Tequila brand shows a two-pronged strategy: leveraging their marketplace while building proprietary product lines with potentially higher margins. The international expansion plans could open new revenue streams, though execution risks remain high for a company still seeking operational stability.
Revenue More Than Doubled Year-Over-Year as Company Restructures for Long-Term Growth and Profitability
MIAMI BEACH, FLORIDA / ACCESS Newswire / April 1, 2025 / LQR House Inc. (the "Company" or "LQR House") (NASDAQ:YHC), a niche ecommerce platform specializing in the spirits and beverage industry, today announced its 2024 audited revenue results for the twelve-month period ended December 31, 2024. The results have been described in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission, which is available for public viewing at https://www.sec.gov/search-filings and on the Company's website: https://invest.lqrhouse.com/annual-reports/.
Key Financial Highlights
Revenue increased by
123.2% , reaching$2,501,660 for the year ended December 31, 2024, compared to$1,120,622 for the same period in 2023.
Operating expenses for 2024 were high for LQR House due to the implementation of retention and severance packages. These measures were introduced as part of a broader corporate restructuring effort initiated in collaboration with activist investor David Lazar and the appointment of a newly structured board of directors. These short-term expenses were viewed as strategic investments, positioning the Company to pursue its long-term growth objectives and profitability. LQR House believes these actions will lead to more meaningful growth and operational efficiency in 2025 with the goal of being EBIDA positive in 2025.
Sean Dollinger, CEO of LQR House, commented "2024 was a transformative year for LQR House-marked by significant growth and a number of challenges. We took critical steps to position the Company for long-term success, including restructuring the team, discontinuing high-cost verticals, and bringing on new board members who are focused on disciplined cost management and expanding our presence internationally. As reflected in our monthly press releases, we're continuing to grow both our core e-commerce platform and the SWOL Tequila brand. We believe our 2024 growth is a result of a leaner, more focused organization. While we acknowledge there is more work to be done, I'm incredibly proud of the progress we've made and optimistic about the path ahead."
LQR House's financial statements were prepared in accordance with generally accepted accounting principles in the United States ("GAAP").
The Company remains committed to transparency, growth, and delivering long-term value to shareholders through continued operational efficiency and strategic expansion.
About LQR House Inc.
LQR House intends to become a prominent force in the wine and spirits e-commerce sector, epitomized by its flagship alcohol marketplace, cwspirits.com. This platform seamlessly delivers a diverse range of emerging, premium, and luxury spirits, wines, and champagnes from esteemed retail partners like Country Wine & Spirits. Functioning as a technology-driven hub, LQR House utilizes software, data analytics, and artificial intelligence to elevate consumer experience. CWSpirits.com stands out as the go-to destination for modern, convenience-oriented shoppers, providing a curated selection of alcohol products delivered to homes across the United States. Beyond its role in an e-commerce sector, LQR House is a marketing agency with a specialized focus on the alcohol industry. The Company measures campaign success by directly correlating it with sales on CWSpirits.com, demonstrating a return on investment. Backed by an influential network of around 460 figures in the alcohol space, LQR House strategically drives traffic to CWSpirits.com, enhancing brand visibility. LQR House intends to disrupt the traditional landscape of the alcohol industry, driven by its dedication to providing an unparalleled online purchasing experience and delivering tailored marketing solutions.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Shareholders can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. Forward-looking statements contained in this press release are made only as of the date of this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in other reports and documents that the Company files from time to time with the United States Securities and Exchange Commission (the "SEC"). You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the headings "Risk Factors". Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in other reports and documents that the Company files from time to time with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. References and links to websites have been provided as a convenience, and the information contained on such websites has not been incorporated by reference into this press release.
Investor and Media Contact:
info@lqrhouse.com
SOURCE: LQR House
View the original press release on ACCESS Newswire
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