EQUATOR Beverage Q3 revenue up 15% to $549K, but gross margin shrinks to 31% from 46%

EQUATOR Beverage Co

Q3 2022 revenue $548,973 vs $477,013 YoY (+15%); driven by higher case volume.
Cost of revenue rose to 69% of sales ($380,864) from 54% ($255,266) due to higher product, freight and warehousing costs.
SG&A decreased to $198,122 from $223,571, helped by lower Amazon fees and stock compensation.
Nine-month revenue fell 1.7% to $1.47M; cost of revenue increased to 66% of sales from 53%.
Repurchased 830,342 shares YTD vs 365,413 last year; board authorized up to 1.2M share buyback on Aug 8.

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