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Earnings Call Summary | Charles & Colvard(CTHR.US) Q3 2024 Earnings Conference

Futu News ·  May 4 05:25  · Conference Call

The following is a summary of the Charles & Colvard, Ltd. (CTHR) Q3 2024 Earnings Call Transcript:

Financial Performance:

  • Charles & Colvard's Q3 2024 revenue was $5.3 million, a decrease of 21% compared to Q3 FY 2023.

  • Gross margin was 23%, down from 32% in the previous year.

  • Net sales from online channels were $4.1 million, forming 77% of total net sales.

  • Operating expenses increased by 13%, mainly due to investments in marketing and brand promotion.

  • A net loss of $3.6 million was reported for the quarter.

Business Progress:

  • Growth observed in lab-grown gem sales, with increase in revenues from its Forever One and KDL lab-grown diamond sales.

  • Rebranded moissanite line and expanded online partnerships.

  • Achieved significant reduction in inventory.

  • Investments made in next-gen web platform, HR, and marketing initiatives.

  • Strong Valentine's Day sales, constituting 52% of the quarter's revenue.

  • Future initiatives will focus on reducing expenses, driving revenue, and value delivery.

More details: Charles & Colvard IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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