Alliance Entertainment reports H1 FY2023 net loss of $23M; revenue down 18%; going concern warning

ALLIANCE ENTERTAINMENT HOLDING CORP

2023-Q3 EPS reported -$0.64 revenue$911,590,000

Six-month revenue $683.9M vs $831.6M prior year; net loss $23.0M vs net income $29.5M.
Operating loss $25.6M vs operating income $40.6M; inventory write-down of $7.1M on gaming inventory.
Company expresses substantial doubt about ability to continue as going concern; failed to meet Fixed Charge Coverage Ratio covenant.
Revolving credit facility matures Sept 29, 2023; classified as current liability due to defaults; $8.3M debt subject to cross-default.
Filed S-1 registration statement for underwritten public offering of Class A common stock and resale of shares/warrants.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ALLIANCE ENTERTAINMENT HOLDING CORP reported three and six months ended December 31, 2022 results: revenue Net Revenues $445,162 (three months), $683,862 (six months), net income Net (Loss) Income ($15,515) (three months), ($23,025) (six months), EPS Net (Loss) Income per Share – Basic and Diluted $(17.24) (three months), $(25.58) (six months).

Period: three and six months ended December 31, 2022
Revenue: Net Revenues $445,162 (three months), $683,862 (six months)
Net income: Net (Loss) Income ($15,515) (three months), ($23,025) (six months)
EPS: Net (Loss) Income per Share – Basic and Diluted $(17.24) (three months), $(25.58) (six months)
Result: reported results

Exact text from the filing

Three Months Ended Six Months Ended Six Months Ended ($ in thousands except share amount) December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 Net Revenues $ 445,162 $ 538,445 $ 683,862 $ 831,646 Cost of Revenues (excluding depreciation and amortization) 424,265 465,407 637,495 717,889 Operating Expenses Distribution and Fulfillment Expense

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Source: SEC EDGAR

accession 0001104659-23-044679

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