Fresh Vine Wine Q3 net loss improves to ~$2.6M, flat revenue; launches cost-saving reorganization

AMAZE HOLDINGS, INC.

2022-Q3 EPS reported -$0.91 revenue$2,484,086

Net loss reduced to ~$2.6M in Q3 2022 from $4.6M in Q2 2022, a sequential $2M improvement.
Nine-month net revenue up 136% YoY; Q3 revenue flat due to order timing and seasonality.
Reorganization includes outsourcing sales, hiring marketing agency, and deferring inventory investments.
Budgeted cash requirements reduced by ~$5.0M for H2 2022 through cost-cutting measures.
Hired James Spellmire as CFO; distribution now reaches all 50 states via partners.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMAZE HOLDINGS, INC. reported the third quarter ended September 30, 2022 results: net income approximately $2.6 million.

Period: the third quarter ended September 30, 2022
Net income: approximately $2.6 million
Result: reported results

Exact text from the filing

As a result of the cash preservation initiatives undertaken in the third quarter of 2022, we reduced our net loss by $2 million on a sequential basis, to approximately $2.6 million in the third quarter of 2022 as compared to approximately $4.6 million during the second quarter of 2022.

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AMAZE HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-22-072777

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