Hour Loop Q1 revenue jumps 70.5% to $21.1M but net loss widens to $1.2M

Hour Loop, Inc

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

Net revenues $21.1M (+70.5% YoY) vs $12.4M a year ago.
Net loss of $1.2M ($0.04 diluted EPS) vs net income $0.6M ($0.02) prior year.
Gross margin fell 6.7pp to 45.6% due to competition, overstock, higher Amazon fees.
Cash and equivalents dropped to $1.3M from $4.6M at year-end 2022.
Full-year 2023 guidance: revenue $112M-$122M; net income $0.5M-$4.0M.

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 quarter ended March 31, 2023 results: revenue $21.1 million, net income $1.2 million, EPS $0.04 per diluted share. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $21.1 million
Net income: $1.2 million
EPS: $0.04 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

retailer, announces its financial and operational results for the quarter ended March 31, 2023. Financial Highlights for First Quarter 2023: ● Net revenues increased 70.5% to $21.1 million, compared to $12.4 million in the year-ago period; ● Net loss totaled $1.2 million, compared to net income of $0.6 million in the year-ago period; and ● Cash used for operating

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Source: SEC EDGAR

accession 0001493152-23-016501

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