Upexi Q1 revenue surges 199% to $11.6M; net loss of $2.7M vs profit prior year

UPEXI, INC.

2023-Q1 EPS reported -$0.16 revenue$11,557,011

Revenue $11.6M (+199% YoY); gross profit $6M (+132% YoY); gross margin 52%.
Net loss from continued ops $2.7M vs net income $512K in year-ago quarter.
Acquired LuckyTail (pet brand) and E-Core/Tytan Products; sold select CBD assets for $23.5M.
Eliminated $15M senior secured debt facility; expects ~$900K annual interest savings.
CEO projects ~$100M in sales for calendar 2023; cash $3.3M and equity $27M.

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

UPEXI, INC. reported the fiscal 2023 first quarter ending September 30, 2022 results: revenue $11.6 million, net income $2.7 million.

Period: the fiscal 2023 first quarter ending September 30, 2022
Revenue: $11.6 million
Net income: $2.7 million
Result: reported results

Exact text from the filing

today announced its financial results for the fiscal 2023 first quarter ending September 30, 2022. Fiscal 2023 First Quarter Financial Highlights: · Revenue totaled $11.6 million, an increase of 199% year-over-year. · Gross profit totaled $6 million, an increase of 132% year-over-year. · Gross profit margin was 52%. · Net loss from continued operations was $2.7 million compared to net income of approximately $512,000 for the same period in the prior year.

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UPEXI, INC. filing history →

Source: SEC EDGAR

accession 0001477932-22-008634

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