VPR Brands (VPRB) Reports Second Quarter 2024 Financial Results
VPR Brands (OTCQB: VPRB) reported its Q2 2024 financial results, showing mixed performance. Total revenues were $1,769,133, down from $1,909,529 in Q2 2023. However, product sales increased to $1,611,190 from $1,196,805 year-over-year. Net income decreased to $176,052 from $928,322 in Q2 2023. For the first six months of 2024, total revenues were $3,287,892, compared to $4,990,550 in H1 2023.
Operating expenses rose to $680,765 in Q2 2024 from $452,903 in Q2 2023, reflecting investments in marketing and product development. The company's total assets increased to $3,218,641 as of June 30, 2024, up from $3,191,246 at the end of 2023. Despite challenges, VPR Brands remains optimistic about its growth prospects in the electronic cigarette and vaporizer markets.
VPR Brands (OTCQB: VPRB) ha riportato i risultati finanziari del secondo trimestre 2024, mostrando una performance mista. I ricavi totali sono stati di $1.769.133, in calo rispetto ai $1.909.529 del Q2 2023. Tuttavia, le vendite di prodotti sono aumentate a $1.611.190 rispetto ai $1.196.805 dell'anno precedente. Il reddito netto è diminuito a $176.052 rispetto ai $928.322 del Q2 2023. Nei primi sei mesi del 2024, i ricavi totali sono stati di $3.287.892, rispetto ai $4.990.550 H1 2023.
Le spese operative sono aumentate a $680.765 nel Q2 2024, rispetto ai $452.903 del Q2 2023, riflettendo investimenti in marketing e sviluppo del prodotto. Il totale degli attivi è aumentato a $3.218.641 al 30 giugno 2024, rispetto ai $3.191.246 alla fine del 2023. Nonostante le sfide, VPR Brands rimane ottimista riguardo alle proprie prospettive di crescita nei mercati delle sigarette elettroniche e dei vaporizzatori.
VPR Brands (OTCQB: VPRB) reportó sus resultados financieros del segundo trimestre de 2024, mostrando un desempeño mixto. Los ingresos totales fueron de $1,769,133, una disminución desde los $1,909,529 en el Q2 2023. Sin embargo, las ventas de productos aumentaron a $1,611,190 desde $1,196,805 interanualmente. El ingreso neto disminuyó a $176,052 desde $928,322 en el Q2 2023. En los primeros seis meses de 2024, los ingresos totales fueron de $3,287,892, en comparación con $4,990,550 en H1 2023.
Los gastos operativos aumentaron a $680,765 en el Q2 2024 desde $452,903 en el Q2 2023, reflejando inversiones en marketing y desarrollo de productos. Los activos totales aumentaron a $3,218,641 al 30 de junio de 2024, en comparación con $3,191,246 al final de 2023. A pesar de los desafíos, VPR Brands se mantiene optimista sobre sus perspectivas de crecimiento en los mercados de cigarrillos electrónicos y vaporizadores.
VPR Brands (OTCQB: VPRB)는 2024년 2분기 재무 결과를 발표하며 혼합된 성과를 보였습니다. 총 수익은 $1,769,133로 2023년 2분기 $1,909,529에서 감소했습니다. 그러나 제품 판매는 전년 대비 $1,196,805에서 $1,611,190으로 증가했습니다. 순이익은 2023년 2분기 $928,322에서 $176,052로 감소했습니다. 2024년 상반기 총 수익은 $3,287,892로 2023년 H1의 $4,990,550과 비교됩니다.
운영 비용은 2024년 2분기 $680,765로 2023년 2분기 $452,903에서 증가하여 마케팅 및 제품 개발에 대한 투자를 반영합니다. 회사의 총 자산은 2023년 말 $3,191,246에서 2024년 6월 30일 기준 $3,218,641로 증가했습니다. 어려움에도 불구하고 VPR Brands는 전자담배 및 증기기 시장에서의 성장 전망에 대해 낙관적입니다.
VPR Brands (OTCQB: VPRB) a publié ses résultats financiers pour le deuxième trimestre 2024, montrant des performances variées. Les revenus totaux se sont élevés à 1 769 133 $, en baisse par rapport à 1 909 529 $ au Q2 2023. Cependant, les ventes de produits ont augmenté à 1 611 190 $ contre 1 196 805 $ d'une année sur l'autre. Le revenu net a diminué à 176 052 $ contre 928 322 $ en Q2 2023. Pour les six premiers mois de 2024, les revenus totaux s'élevaient à 3 287 892 $, comparé à 4 990 550 $ en H1 2023.
Les dépenses d'exploitation ont augmenté à 680 765 $ au Q2 2024 contre 452 903 $ au Q2 2023, reflétant des investissements dans le marketing et le développement de produits. Les actifs totaux de l'entreprise ont augmenté à 3 218 641 $ au 30 juin 2024, contre 3 191 246 $ à la fin de 2023. Malgré les défis, VPR Brands reste optimiste quant à ses perspectives de croissance sur les marchés des cigarettes électroniques et des vaporisateurs.
VPR Brands (OTCQB: VPRB) hat seine finanziellen Ergebnisse für das 2. Quartal 2024 bekannt gegeben, die eine gemischte Leistung zeigen. Die Gesamterlöse beliefen sich auf $1.769.133, ein Rückgang von $1.909.529 im Q2 2023. Allerdings stiegen die Produktverkäufe im Jahresvergleich von $1.196.805 auf $1.611.190. Der Nettogewinn sank auf $176.052 von $928.322 im Q2 2023. In den ersten sechs Monaten 2024 betrugen die Gesamterlöse $3.287.892, im Vergleich zu $4.990.550 in H1 2023.
Die Betriebskosten stiegen im Q2 2024 auf $680.765 von $452.903 im Q2 2023, was Investitionen in Marketing und Produktentwicklung widerspiegelt. Die Gesamtaktiva des Unternehmens stiegen zum 30. Juni 2024 auf $3.218.641, gegenüber $3.191.246 zum Ende des Jahres 2023. Trotz der Herausforderungen bleibt VPR Brands optimistisch hinsichtlich seiner Wachstumsperspektiven in den Märkten für elektronische Zigaretten und Vaporizer.
- Product sales increased to $1,611,190 in Q2 2024 from $1,196,805 in Q2 2023
- Total assets rose to $3,218,641 as of June 30, 2024, up from $3,191,246 at the end of 2023
- Total liabilities decreased to $2,225,220 from $2,576,936 over the same period
- Net cash provided by operating activities was $23,444 in Q2 2024, compared to net cash used of $281,528 in Q1 2024
- Total revenues declined to $1,769,133 in Q2 2024 from $1,909,529 in Q2 2023
- Net income decreased to $176,052 in Q2 2024 from $928,322 in Q2 2023
- Gross profit fell to $451,469 in Q2 2024 from $1,095,092 in Q2 2023
- Operating expenses increased to $680,765 in Q2 2024 from $452,903 in Q2 2023
- Cash balance decreased to $1,295,447 as of June 30, 2024, from $1,767,260 as of December 31, 2023
FORT LAUDERDALE, FL, Aug. 21, 2024 (GLOBE NEWSWIRE) -- VPR Brands, LP (OTCQB: VPRB), a leading provider of electronic cigarettes, vaporizers, and accessories, today announced its financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 Highlights:
- Total Revenues:
$1,769,133 , compared to$1,909,529 in Q2 2023 - Gross Profit:
$451,469 , compared to$1,095,092 in Q2 2023 - Net Income:
$176,052 , down from$928,322 in Q2 2023 - Operating Expenses:
$680,765 , up from$452,903 in Q2 2023 - Net Cash Provided by Operating Activities:
$23,444 , compared to net cash used of$281,528 in Q1 2024 - Total Assets:
$3,218,641 , compared to$3,191,246 as of December 31, 2023 - Total Liabilities:
$2,225,220 , down from$2,576,936 as of December 31, 2023
Six-Month 2024 Highlights:
- Total Revenues:
$3,287,892 , compared to$4,990,550 for the six months ended June 30, 2023 - Gross Profit:
$928,325 , down from$1,618,765 in the first six months of 2023 - Net Income:
$379,111 , compared to$953,636 in the first half of 2023 - Operating Expenses:
$1,327,631 , compared to$857,564 in the first half of 2023
Revenues: For the three months ended June 30, 2024, VPR Brands reported revenues of
Cost of Sales and Gross Profit: The cost of sales for Q2 2024 was
Operating Expenses: Operating expenses for Q2 2024 increased to
Net Income: Net income for Q2 2024 was
Liquidity and Capital Resources: As of June 30, 2024, VPR Brands had total assets of
CEO Commentary: Kevin Frija, CEO of VPR Brands, commented, "While the second quarter presented some challenges, we are encouraged by the solid growth in our product sales and the positive trajectory of our business. Our ability to generate consistent revenue, coupled with our strategic investments, positions us well for future success. We are committed to driving innovation and expanding our market presence, and we believe that our focus on quality and customer satisfaction will continue to deliver value to our shareholders."
Outlook: Looking ahead, VPR Brands remains focused on expanding its product lines and enhancing its market footprint. With a solid balance sheet and a dedicated team, the company is well-positioned to capitalize on emerging opportunities in the electronic cigarette and vaporizer markets. We are optimistic about our growth prospects and remain committed to delivering sustainable long-term value.
About VPR Brands, LP: VPR Brands, LP is a technology company whose assets include issued U.S. and Chinese patents for atomization-related products, including technology for medical marijuana vaporizers and electronic cigarettes, commonly referred to as personal vaporizers or PVs.
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated. These statements are based on management's current expectations and involve risks and uncertainties that may cause actual results to differ from those described. VPR Brands undertakes no obligation to update these statements following the date of this release.
For more information, please visit www.vprbrands.com.
Contact: VPR Brands, LP
Investor Relations
Phone: (954) 715-7001
Email: IR@vprbrands.com
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