Hour Loop Q3 revenue up 66% to $29.2M; raises FY2023 revenue guidance to $145-153M

Hour Loop, Inc

2023-Q3 EPS reported -$0.06 revenue$72,637,417

Net revenues $29.2M (+66.1% YoY); net loss $0.02M vs net income $0.15M in Q3 2022.
Gross margin 50.7% (down from 56.5%) on competition and higher Amazon fees; operating expenses 52.5% (down from 54.2%).
Cash $0.6M at Sep 30 (down from $4.6M year-end); inventory $23.8M (up $5M) for holiday season.
Full-year 2023 revenue guidance raised to $145-153M (40-48% YoY growth); net income guidance maintained at $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 0.98

Hour Loop, Inc reported the quarter ended September 30, 2023 results: revenue $29.2 million, net income $0.02 million, EPS $0.0004 per diluted share. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $29.2 million
Net income: $0.02 million
EPS: $0.0004 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

announces its financial and operational results for the quarter ended September 30, 2023. Financial Highlights for Third Quarter 2023: ● Net revenues increased 66.1% to $29.2 million, compared to $17.6 million in the year-ago period; ● Net loss totaled $0.02 million, compared to net income $0.15 million in the year-ago period; and ● Cash used for operating

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Source: SEC EDGAR

accession 0001493152-23-040325

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