Starco Brands reports FY2023 revenue up 735% to $65.2M, net loss $46.4M on $29.6M goodwill impairment

Starco Brands, Inc.

2024-Q1 EPS reported -$0.01 revenue$15,490,681

FY2023 revenue $65.2M vs $7.8M prior year; Q4 revenue $18.9M vs $4.0M.
FY2023 GAAP net loss $46.4M (vs income $1.0M) includes $29.6M non-cash goodwill impairment mostly for Soylent.
Adjusted EBITDA FY2023 $6.2M (up 304% from $1.7M); Q4 adj. EBITDA $2.1M.
FY2024 guidance: revenue $78M-$82M, adjusted EBITDA $8M-$10M.
Soylent segment contributed $38.2M revenue; cash $1.8M, inventory $10.7M at year-end.

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

Starco Brands, Inc. reported quarter and year ended December 31, 2023 results: revenue $65.2 Million. Guidance reaffirmed.

Period: quarter and year ended December 31, 2023
Revenue: $65.2 Million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and Full Year 2023 Results and Business Update Company Achieved Tremendous Growth in Fiscal Year 2023 Compared to Prior Year with Reported Net Revenue Increasing by 735% to $65.2 Million and Adjusted EBITDA Increasing by 304% to $6.2 Million Fiscal Year 2023 Pro Forma Net Revenue of $70.8M and Adjusted EBITDA of $7.1M, Which Includes Full Year of Soylent*

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Source: SEC EDGAR

accession 0001493152-24-013099

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