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Sow Good Q1 EPS $0.06 Up From $(0.29) YoY; Revenue $11.41M Up From $198,930 YoY

Sow Good Q1 EPS $0.06 Up From $(0.29) YoY; Revenue $11.41M Up From $198,930 YoY

Sow Good 第一季度每股收益高於同比0.29美元（0.29美元）0.06美元；收入1141萬美元高於同比198,930美元
Benzinga ·  05/15 20:44

First Quarter 2024 Highlights vs. Same Year-Ago Quarter

2024年第一季度亮點與去年同期對比

  • Revenue in the first quarter of 2024 increased significantly to $11.4 million compared to approximately $198.9K for the same period in 2023. The increase was driven to the Company's pivot to selling freeze dried candy in the prior year period, as well as the growing market for freeze dried candy. The increase also reflects the benefits of the Company's expanded production capacity.
  • Gross profit in the first quarter of 2024 increased significantly to $4.6 million compared to approximately $114.9K for the same period in 2023. Gross margin was 40.6% compared to 57.8% in the prior-year period. Relative to the prior-year period, gross margin in the first quarter of 2024 reflects higher labor and production costs associated with the Company's increased scale. In order to meet growing demand, the Company expects to continue investing in its operations to increase production capacity, which is expected to constrain quarterly gross margins in the near term.
  • Operating expenses in the first quarter of 2024 were $3.7 million compared to $1.0 million for the same period in 2023. The increase was primarily driven by higher compensation and professional services expenses as we scaled up the business and invested in system and process improvements in anticipation of being listed on Nasdaq.
  • Net income in the first quarter of 2024 was approximately $510.6K compared to a net loss of $(1.4) million for the same period in 2023. The improvement reflects the higher level of gross profit generated during the quarter.
  • Adjusted EBITDA (a non-GAAP financial measure defined and reconciled herein) in the first quarter of 2024 improved to $2.45 million compared to approximately $171.3k for the same period in 2023.
  • Cash and cash equivalents were $6.8 million at March 31, 2024, compared to $2.4 million at December 31, 2023. The Company received $3.7 million in proceeds from the equity private placement completed in March of 2024.
  • 2024年第一季度的收入大幅增長至1140萬美元，而2023年同期的收入約爲198.9萬美元。這一增長是由於該公司在去年同期轉向銷售凍幹糖果，以及冷凍幹糖的市場不斷增長。這一增長還反映了公司擴大產能的好處。
  • 2024年第一季度的毛利大幅增長至460萬美元，而2023年同期的毛利約爲11.49萬美元。毛利率爲40.6％，而去年同期爲57.8％。與去年同期相比，2024年第一季度的毛利率反映了與公司規模擴大相關的勞動力和生產成本的上漲。爲了滿足不斷增長的需求，該公司預計將繼續投資其業務以提高產能，預計這將在短期內限制季度毛利率。
  • 2024年第一季度的運營支出爲370萬美元，而2023年同期爲100萬美元。增長主要是由薪酬和專業服務費用的增加所推動的，因爲我們預計將在納斯達克上市，因此擴大了業務規模，並投資於系統和流程改進。
  • 2024年第一季度的淨收入約爲5.106萬美元，而2023年同期的淨虧損爲140萬美元。這種改善反映了本季度毛利潤的增加。
  • 2024年第一季度調整後的息稅折舊攤銷前利潤（此處定義和調節的非公認會計准則財務指標）從2023年同期的約17.13萬美元增至245萬美元。
  • 截至2024年3月31日，現金及現金等價物爲680萬美元，而截至2023年12月31日爲240萬美元。該公司從2024年3月完成的股權私募中獲得了370萬澳元的收益。

For a reconciliation of Adjusted EBITDA to the nearest comparable GAAP metric, Net income, please see the tables below.

有關調整後息稅折舊攤銷前利潤與最接近的可比GAAP指標（淨收益）的對賬，請參閱下表。

譯文內容由第三人軟體翻譯。


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