Hour Loop Q1 net income $1.1M vs loss $1.2M YoY; revenue up 17.2% to $24.7M

Hour Loop, Inc

2024-Q1 EPS reported $0.03 revenue$24,681,122

Net revenue $24.7M (+17.2% YoY); net income $1.1M ($0.03 diluted EPS) vs loss $1.2M ($0.04 loss per share) in Q1 2023.
Gross margin improved to 58.5% from 45.6% a year ago; operating expenses as % of revenue fell to 52.3% from 53.2%.
Cash from operations $0.5M vs ($3.3M) used a year ago; cash balance $2.9M, inventory down to $11.6M from $14.3M.
Full year 2024 guidance: revenue $145M-$172M (10-30% growth), net income $0.5M-$2M.

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, 2024 results: revenue $24.7 million, net income $1.1 million, EPS $0.03 per diluted share. Guidance initiated.

Period: the quarter ended March 31, 2024
Revenue: $24.7 million
Net income: $1.1 million
EPS: $0.03 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

retailer, announces its financial and operational results for the quarter ended March 31, 2024. Financial Highlights for First Quarter 2024: ● Net revenues increased 17.2% to $24.7 million, compared to $21.1 million in the year-ago period; ● Net income totaled $1.1 million, compared to net loss of $1.2 million in the year-ago period; and ● Cash provided for

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Source: SEC EDGAR

accession 0001493152-24-017847

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