Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Reborn Coffee, Inc. reported the third quarter ended September 30, 2022 results: revenue approximately $0.8 million, net income approximately $0.9 million.
- Period
- the third quarter ended September 30, 2022
- Revenue
- approximately $0.8 million
- Net income
- approximately $0.9 million
- Result
- reported results
Exact text from the filing
Revenues were approximately $0.8 million for the three-month period ended September 30, 2022, compared to approximately $0.7 million for the comparable period in 2021, representing an increase of 22%. Revenue increased 52% in the nine months ending September 30, 2022 to approximately $2.4 million, up from approximately $1.6 million for the comparable period in 2021. The increase in sales for the periods was primarily driven by the opening of the Laguna Woods, Riverside and San Francisco locations, and to the continued focus on marketing efforts to grow brand recognition. Total operating costs and expenses for the three-month period ended September 30, 2022, were approximately $1.7 million compared to approximately $1.8 million for the comparable period in 2021, representing a decrease of approximately 1%. Net loss for the third quarter of 2022 was approximately $0.9 million, compared to a net loss of approximately $1.9 million for the third quarter of 2021.
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