STOCK TITAN

Eightco Holdings Inc. - OCTO STOCK NEWS

Welcome to our dedicated page for Eightco Holdings news (Ticker: OCTO), a resource for investors and traders seeking the latest updates and insights on Eightco Holdings stock.

Eightco Holdings Inc. (NASDAQ: OCTO) is a multifaceted company with a primary focus on providing smart inventory solutions and custom packaging services. The company is structured into three main business segments: Forever 8 Inventory Cash Flow Solution, the Web3 Business, and the Packaging Business.

The Forever 8 Inventory Cash Flow Solution is a key part of Eightco’s Inventory Management Solutions segment. This segment is focused on purchasing inventory for e-commerce retailers, thereby ensuring consistent cash flow and operational efficiency for their clients. This innovative solution allows businesses to scale without the financial strain of upfront inventory costs.

Although Eightco initially explored opportunities in the Web3 space, the company currently has no plans to continue this line of business. Instead, their primary focus remains on the other two segments where they have proven success.

The Packaging Business of Eightco is involved in the manufacturing and sale of custom packaging solutions. This segment serves a wide variety of product needs and helps businesses enhance brand awareness through high-quality, custom-designed packaging.

Eightco Holdings Inc. operates two reportable segments: the Inventory Management Solutions segment and the Corrugated Segment. The majority of the company's revenue is generated from the Inventory Management Solutions segment, reflecting the demand and success of their inventory cash flow solution.

Eightco Holdings Inc. remains committed to providing innovative solutions that enhance operational efficiency and promote brand visibility for their clients. The company's strategic focus on inventory management and packaging solutions positions them as a significant player in these industries.

Rhea-AI Summary

Eightco Holdings (NASDAQ: OCTO) reported Q3 2024 financial results with net revenues of $7.7 million, down from $23.3 million in Q3 2023, primarily due to reduced capital for cell phone sales after convertible note repayment. The company posted a net loss of $3.2 million, slightly improved from a $3.5 million loss year-over-year. Gross profit margin increased to 26.7% from 11.8%, while SG&A expenses rose 14.65% to $3.7 million. The company successfully met NASDAQ compliance requirements and raised $2.2 million through ATM sales at an average price of $3.52 per share.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.21%
Tags
-
Rhea-AI Summary

Eightco Holdings Inc. (NASDAQ: OCTO) provides inventory funding and management solutions for e-commerce businesses through its subsidiary, Forever 8 Fund The company's CEO, Paul Vassilakos, discussed recent milestones and future plans in an interview. Key points include:

- Regaining NASDAQ compliance with stockholders' equity reaching $13.4 million
- Strengthening the balance sheet by reducing debt and eliminating dilutive warrants
- Doubling gross margins to 22% and reducing SG&A by 23%
- Forever 8's focus on the Apple refurbished products market and broader e-commerce inventory funding
- A revenue target of $100 million in 2025
- Proprietary tools for inventory risk assessment and customer acquisition

Vassilakos emphasized the company's strong position in the market and potential for growth, particularly in serving e-commerce sellers on platforms like Amazon and Shopify.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.69%
Tags
none
-
Rhea-AI Summary

Eightco Holdings Inc. (NASDAQ: OCTO) has announced its 2025 Strategic Plan and a $100 million revenue forecast. The company reported significant improvements in 2024, including:

- Elimination of $5.4 million in convertible notes
- Increase in shareholder equity by $23 million
- Cancellation of 5,846,627 dilutive shares
- Gross profit margin increase to 22% (vs 12% in prior year)
- SG&A reduction to $6.9 million (23% decrease)

These improvements helped Eightco regain compliance with NASDAQ requirements. The company's 2025 plan focuses on growing its subsidiary, Forever 8 Fund , which provides inventory solutions for e-commerce sellers and supplies refurbished Apple products. Eightco aims to secure non-dilutive senior debt financing to support its growth targets and achieve positive EBITDA at the public company level in 2025.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
45.78%
Tags
none
Rhea-AI Summary

Eightco Holdings Inc. (NASDAQ: OCTO) has announced its regained compliance with Nasdaq's listing requirements. The company received formal notice from Nasdaq confirming compliance with both the minimum bid price requirement and the stockholders' equity requirement.

To meet the bid price requirement, Eightco's common stock maintained a closing bid price above $1.00 for the last 20 consecutive trading days, exceeding the minimum 10-day requirement. For the equity requirement, the company reported stockholders' equity of $13,428,553 in its Q2 2024 10-Q filing, surpassing the required minimum of $2,500,000.

As a result of regaining compliance, Eightco's common stock will continue to trade on The Nasdaq Capital Market under the symbol OCTO.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-22.19%
Tags
none
-
Rhea-AI Summary

Eightco Holdings Inc. (NASDAQ: OCTO) reported financial results for Q2 2024. Key highlights include:

- Net income of $4.4 million, compared to a net loss of $8.9 million in Q2 2023
- Revenues of $7.0 million, down from $20.5 million in Q2 2023
- Gross profit margin improved to 25.3% from 12.3% year-over-year
- SG&A expenses reduced by 26.6% to $3.5 million
- EBITDA of $6.4 million, up from a loss of $5.5 million in Q2 2023

The company focused on improving its financial stability by cancelling $23 million in liabilities and repaying convertible notes, which led to a reduction in dilutive shares. The decrease in revenues was attributed to reduced capital for cell phone sales after repaying the convertible note.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary

Eightco Holdings Inc. (NASDAQ: OCTO) has announced that its subsidiary, Forever 8 Fund , has achieved $100 million in revenues from its refurbished Apple smartphone division since its launch in April 2021. The company's CEO, Paul Vassilakos, expressed excitement about this milestone and highlighted the strong growth driven by the expanding refurbished market for Apple products.

Forever 8 supplies inventory for various refurbished Apple products in the UK and EU, including iPhones, iPads, AirPods, Apple Watches, and iPad Pencils. The company utilizes a proprietary data-driven tool to efficiently manage inventory levels and capital, supporting vendors in optimizing their supply chains and marketing strategies. Eightco is also exploring opportunities to expand into other Apple product categories to position Forever 8 for further success.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-20.66%
Tags
none
News
Rhea-AI Summary

Eightco Holdings Inc. (NASDAQ: OCTO) has provided a shareholder update, highlighting significant improvements in its financial condition. The company has eliminated $5.4 million in convertible notes and increased shareholder equity by over $23 million. Eightco's primary focus is now on growing its subsidiary, Forever 8 Fund , which provides inventory solutions for e-commerce sellers and supplies refurbished Apple products in the UK and EU.

Key financial highlights include a Q1 2024 net income of $4.9 million, compared to a $49.9 million loss in the prior year quarter. Revenues were $9.6 million, down from $15.9 million, due to reduced capital for cell phone sales. The company has also improved its gross profit margin to 19.6% and reduced SG&A expenses by 35.3%.

Eightco is working to meet Nasdaq listing requirements, including maintaining a closing bid price of $1.00 per share for 10 consecutive trading sessions. The company plans to seek shareholder approval for a 1-for-5 reverse stock split to achieve this goal.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.15%
Tags
none
-
Rhea-AI Summary

Eightco Holdings (NASDAQ: OCTO) has secured approval from a Nasdaq Hearings Panel for continued listing on the Nasdaq Capital Market. To maintain this listing, Eightco must meet specific conditions by August 23, 2024, including achieving a minimum bid price of $1.00 per share for at least ten consecutive trading sessions. To comply, Eightco has filed a proxy statement seeking shareholder approval for a 1-for-5 reverse stock split. Recent financial improvements have bolstered shareholder equity by over $23 million, achieved through various debt cancellations and conversions. As of June 28, 2024, Eightco's market capitalization stands at approximately $4.0 million with 8.8 million shares outstanding. Management believes the market cap may not fully reflect the company's recent progress.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.97%
Tags
none
-
Rhea-AI Summary

Eightco Holdings (NASDAQ: OCTO) announced that its subsidiary, Forever 8 Fund, will attend ITC Malta 2024 from June 4-8. The event is a key networking platform for the new and used mobile devices and accessories industry. The conference will showcase keynote speakers, exhibitors, and global attendees, including representatives from Forever 8 and its primary partner, Mobi-hub. Eightco’s CEO, Paul Vassilakos, expressed enthusiasm about the event, noting its importance for demonstrating the company’s innovative solutions in the mobile device sector.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.51%
Tags
conferences
Rhea-AI Summary

Eightco announced its Q1 2024 financial results, highlighting a significant turnaround with a net income of $4.9 million compared to a net loss of $49.9 million in Q1 2023. The improvement was attributed to better operating performance and the elimination of warrant losses following the repayment of a restrictive convertible note.

Revenues for the quarter stood at $9.6 million, down from $15.9 million the previous year, mainly due to reduced capital available for cell phone sales. Despite the revenue drop, gross profit rose slightly to $1.9 million, with an improved gross profit margin of 19.6%.

The company reduced selling, general, and administrative expenses by 35%, leading to a positive EBITDA of $3.7 million, up from a loss of $46.4 million in Q1 2023. Adjusted EBITDA also improved, showing a smaller loss of $0.8 million compared to a $2.9 million loss in the prior year quarter.

CEO Paul Vassilakos emphasized the focus on their Forever 8 Fund operations, which provide inventory capital for e-commerce and refurbished Apple product sellers. The repayment of the convertible note was a strategic move to ensure future growth, although it temporarily reduced their capital base by $5.4 million.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.76%
Tags

FAQ

What is the current stock price of Eightco Holdings (OCTO)?

The current stock price of Eightco Holdings (OCTO) is $1.76 as of November 22, 2024.

What is the market cap of Eightco Holdings (OCTO)?

The market cap of Eightco Holdings (OCTO) is approximately 4.2M.

What does Eightco Holdings Inc. do?

Eightco Holdings Inc. operates in inventory cash flow solutions and custom packaging services. They focus on purchasing inventory for e-commerce retailers and manufacturing custom packaging to promote brand awareness.

What are the main business segments of Eightco Holdings Inc.?

Eightco Holdings Inc. is divided into three main segments: Forever 8 Inventory Cash Flow Solution, Web3 Business, and Packaging Business.

What is the Forever 8 Inventory Cash Flow Solution?

The Forever 8 Inventory Cash Flow Solution helps e-commerce retailers by purchasing their inventory, ensuring consistent cash flow and operational efficiency.

Is Eightco still involved in the Web3 Business?

No, Eightco Holdings Inc. has no intention of continuing their Web3 Business at this time.

How does the Packaging Business of Eightco Holdings Inc. support its clients?

The Packaging Business manufactures and sells custom packaging that enhances brand awareness and promotes the brand image of its clients.

What are the reportable segments of Eightco Holdings Inc.?

Eightco Holdings Inc. has two reportable segments: the Inventory Management Solutions segment and the Corrugated segment.

What segment generates the most revenue for Eightco Holdings Inc.?

The majority of Eightco Holdings Inc.'s revenue is generated from the Inventory Management Solutions segment.

How does Eightco Holdings Inc. enhance operational efficiency for its clients?

Eightco Holdings Inc. enhances operational efficiency by providing inventory cash flow solutions that eliminate the financial burden of upfront inventory costs and by offering custom packaging that strengthens brand visibility.

Where can I find more information about Eightco Holdings Inc.?

For more information, you can visit their official website at www.8co.holdings or contact their Investor Relations.

How can I contact Eightco Holdings Inc. for investor relations?

You can contact Eightco Holdings Inc. for investor relations by emailing investors@8co.holdings or calling 617-819-1289.

Eightco Holdings Inc.

Nasdaq:OCTO

OCTO Rankings

OCTO Stock Data

4.20M
2.16M
16.55%
2.69%
0.69%
Packaging & Containers
Short-term Business Credit Institutions
Link
United States of America
EASTON