Hour Loop FY2022 revenue $95.9M (+52.8%), net loss $1.5M; FY2023 guidance: rev $112-122M, net income $0.5-4M

Hour Loop, Inc

2024-Q1 EPS reported -$0.04 revenue$21,067,609

Net revenues $95.9M in 2022, up 52.8% from $62.8M in 2021.
Net loss of $1.5M ($0.04 diluted EPS) vs net income of $4.8M ($0.14 diluted EPS) in 2021.
Gross margin decreased to 51.1% from 55.4%; operating expenses increased 73.7% to $50.9M.
Cash used in operations $11.6M; cash balance $4.6M (Dec 2022) vs $10.6M (Dec 2021); inventory $18.7M vs $7.0M.
FY2023 guidance: gross revenue $112-122M (10-20% growth), net income $0.5-4M.

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

Hour Loop, Inc reported the year ended December 31, 2022 results: revenue $95.9 million, net income $1.5 million, EPS $0.04 per diluted share. Guidance initiated.

Period: the year ended December 31, 2022
Revenue: $95.9 million
Net income: $1.5 million
EPS: $0.04 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

leading online retailer, announces its financial and operational results for the year ended December 31, 2022. Financial Highlights for 2022: ● Net revenues increased 52.8% to $95.9 million in 2022, compared to $62.8 million in 2021. ● Net loss totaled $1.5 million, compared to net income of $4.8 million in 2021. ● Cash used in operating activities in 2022 was

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Source: SEC EDGAR

accession 0001493152-23-010243

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