Hour Loop Q2 revenue up 51.5% to $22.4M; net loss widens; raises FY revenue guidance

Hour Loop, Inc

2023-Q2 EPS reported -$0.06 revenue$43,485,057

Net revenues $22.4M (+51.5% YoY); net loss $0.8M ($0.02/diluted share) vs $0.3M loss a year ago.
Gross margin fell to 50.7% from 56.5% due to competition and higher Amazon fees.
Cash dropped to $1.1M from $4.6M at year-end 2022; inventory down to $14.4M from $18.8M.
Full-year 2023 gross revenue guidance raised to $132M-$145M (30-40% YoY growth); net income kept at $0.5M-$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 0.95

Hour Loop, Inc reported the quarter ended June 30, 2023 results: revenue $22.4 million, net income $0.8 million, EPS $0.02 per diluted share. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $22.4 million
Net income: $0.8 million
EPS: $0.02 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

retailer, announces its financial and operational results for the quarter ended June 30, 2023. Financial Highlights for Second Quarter 2023: ● Net revenues increased 51.5% to $22.4 million, compared to $14.8 million in the year-ago period; ● Net loss totaled $0.8 million, compared to $0.3 million in the year-ago period; and ● Cash used for operating activities

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Source: SEC EDGAR

accession 0001493152-23-027400

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