EQUATOR Beverage Company Reports Third Quarter 2023 Results

Rhea-AI Summary

Equator Beverage Company reports Q3 2023 results with increased net revenue and gross margin.

Positive

• Q3 2023 Net Revenue was $675,947, up 23% from the same period last year.
• Q3 2023 Gross Margin was $308,685, an increase of $140,576 compared to last year.
• Q3 2023 Taxable Income was $75,717, an improvement of $81,465 from last year.

Negative

• Q3 Net Loss was $53,911, an increase of $20,563 compared to Q3 2022.

JERSEY CITY, NJ / ACCESSWIRE / October 18, 2023 / EQUATOR Beverage Company (OTCQB:MOJO) reports its results of operations for the quarter ended September 30, 2023. The Form 10-Q was filed today, October 18, 2023 with the United States Securities and Exchange Commission.

Highlights include:

• Q3 2023 Net Revenue was $675,947, up from $548,973 for the same period last year. This was a $126,974 increase or 23%. The increase in revenue was due to new accounts that the Company began shipments to and a high demand from current customers.
• Q3 2023 Gross Margin was $308,685 or 46% of Net Revenue an increase of $140,576 over the same period last year. The Gross Margin Percentage was 46% which was a significant improvement from 31% for the same period last year.
• Q3 2023 Taxable Income was $75,717 an $81,465 improvement from last year.
• Q3 Net Loss was $53,911 compared to a Net Loss of $33,348 for Q3 2022. This was a $20,563 increase.

EQUATOR continues to seek opportunities to repurchase shares of its common stock that are restricted from sale or publicly traded.

For additional information contact:

Glenn Simpson CEO
EQUATOR Beverage Company
917 574 1690
Symbol Ticker: MOJO
Website: www.equatorbeverage.com

Important Cautions Regarding Forward Looking Statements

This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. The words 'estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risk.

SOURCE: Equator Beverage Company

View source version on accesswire.com:
https://www.accesswire.com/794142/equator-beverage-company-reports-third-quarter-2023-results

FAQ

What was the increase in Q3 2023 Net Revenue?

Q3 2023 Net Revenue increased by $126,974 or 23% compared to the same period last year.

What was the Gross Margin percentage for Q3 2023?

The Gross Margin Percentage for Q3 2023 was 46%, a significant improvement from 31% in the same period last year.

What was the improvement in Q3 2023 Taxable Income compared to last year?

Q3 2023 Taxable Income improved by $81,465 compared to last year.

What was the Net Loss for Q3 2023?

Q3 2023 Net Loss was $53,911, an increase of $20,563 compared to Q3 2022.

Is Equator Beverage Company repurchasing shares of its common stock?

Yes, Equator Beverage Company continues to seek opportunities to repurchase shares of its common stock that are restricted from sale or publicly traded.