Hour Loop FY2023 revenue up 37.7% to $132.1M, net loss widens to $2.4M; guides FY2024 net income $0.5-2.0M

Hour Loop, Inc

Net revenues $132.1M (+37.7% YoY); net loss $2.4M ($0.07/sh) vs $1.5M loss in 2022.
Gross margin slipped to 50.3% from 51.1%; operating expenses improved to 52.6% of revenue from 53.1%.
Cash $2.5M at year-end (down from $4.6M); inventories $14.3M (down from $18.8M).
FY2024 guidance: revenue $145M-$172M (10-30% growth), net income $0.5M-$2.0M.
CEO cites challenging e-commerce environment, aggressive clearance sales, but sees strong demand in 2024.

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 year ended December 31, 2023 results: revenue $132.1 million, net income ($2.4 million), EPS ($0.07) per diluted share. Guidance initiated.

Period: the year ended December 31, 2023
Revenue: $132.1 million
Net income: ($2.4 million)
EPS: ($0.07) 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, 2023. Financial Highlights for 2023: ● Net revenues increased 37.7% to $132.1 million, compared to $95.9 million in 2022; ● Net loss totaled $2.4 million, compared to net loss $1.5 million in 2022; and ● Cash used for operating activities was $2.1 million and

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Hour Loop, Inc reported full year 2024 results: revenue $145 million to $172 million, net income $0.5 million to $2 million. Guidance initiated.

Period: full year 2024
Revenue: $145 million to $172 million
Net income: $0.5 million to $2 million
Guidance: initiated
Result: guidance update

Exact text from the filing

For the full year 2024, Hour Loop is providing guidance for net revenue to be in the range of $145 million to $172 million, representing 10% to 30% year-over-year growth. The Company expects 2024 net income to be in the range of $0.5 million to $2 million.

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Source: SEC EDGAR

accession 0001493152-24-011294

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