LQR House Inc. Reports 424.58% Year-Over-Year Revenue Growth in October 2024 Compared to October 2023

Rhea-AI Summary

LQR House, a niche ecommerce platform in the spirits and beverage industry, reported substantial revenue growth in October 2024. The company achieved a 424.58% year-over-year increase from $45,400 in October 2023 to $238,159.57 in October 2024, along with an 8% month-over-month growth from September 2024. Since its IPO in August 2023, LQR House has focused on building sustainable partnerships, offering marketing services including banner ads, email campaigns, and influencer content through their platform CWSpirits.com. These partnerships have become a steady source of recurring revenue for the company.

Positive

• Revenue grew 424.58% YoY from $45,400 to $238,159.57
• 8% month-over-month revenue growth from September to October 2024
• Established recurring revenue stream through marketing partnerships

Negative

• None.

Insights

Financial Analyst

The 424.58% YoY revenue growth from $45,400 in October 2023 to $238,159.57 in October 2024 demonstrates impressive growth, but requires context. While the percentage appears substantial, the absolute revenue numbers remain relatively modest for a publicly traded company with a $4.8M market cap. The 8% MoM growth from September to October 2024 shows positive momentum in their recurring revenue model through marketing partnerships.

The company's strategy of leveraging marketing services for recurring revenue is sound, but current revenue levels suggest they're still in early growth stages. The dual revenue streams from marketing services and CWSpirits.com sales create potential synergies, though investors should monitor customer acquisition costs and margin profiles. The small revenue base means even modest client additions can significantly impact growth rates.

MIAMI BEACH, FL / ACCESSWIRE / November 4, 2024 / LQR House Inc. (the "Company" or "LQR House") (NASDAQ:LQR), a niche ecommerce platform specializing in the spirits and beverage industry, is pleased to announce significant revenue growth for October 2024, including a 424.58% year-over-year increase compared to October 2023 and a notable month-over-month increase in 8% from September 2024 to October 2024.

In October 2023, LQR House generated $45,400 in revenue. For September 2024, the Company's revenue reached $238,159.57, highlighting the positive momentum driven by strategic partnerships and platform sales. Since going public in August 2023, LQR House has prioritized building sustainable partnerships, adding new marketing contracts monthly. These partnerships have become a steady source of recurring revenue, with clients engaging LQR House's proprietary marketing services to drive brand awareness and sales on CWSpirits.com.

Sean Dollinger, CEO of LQR House, commented, "I'm not sure everyone realizes just how valuable these partnerships are-they're monthly recurring revenue from brands paying for our marketing services, including banner ads, email campaigns, and influencer content. Each of these drives traffic and sales on CWSpirits.com, which we own. We're incredibly proud of each new partner that trusts us with their brand's growth, and we believe that October's results are a testament to the platform's strength. Not only is revenue up year-over-year, but we also saw an increase from September to October 2024, showcasing our commitment to growth and delivering results."

LQR House's continues focusing on strategic partnerships and expanding its product offerings aiming for sustained growth within the competitive spirits and beverage market.

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 the 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 over 550 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, 2023, 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, 2023, 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

Contact Information

Sean Dollinger
CEO
info@lqrhouse.com

SOURCE: LQR House

View the original press release on accesswire.com

FAQ

What was LQR House's revenue growth in October 2024?

LQR House reported a 424.58% year-over-year revenue growth in October 2024, reaching $238,159.57 compared to $45,400 in October 2023.

How much did LQR stock's revenue increase from September to October 2024?

LQR House's revenue increased by 8% month-over-month from September to October 2024.

What services does LQR House offer to generate recurring revenue?

LQR House offers marketing services including banner ads, email campaigns, and influencer content through their platform CWSpirits.com to generate recurring revenue from brand partnerships.