Eastside Distilling Q1 net loss narrows to $1.3M; craft can printing volumes up 320%

Beeline Holdings, Inc.

2024-Q1 EPS reported -$0.78 revenue$597,000

Gross sales $2.5M vs $2.9M YoY; craft printing growth offset by lower spirits and mobile canning.
Net loss improved to $1.3M from $1.6M; EBITDA loss narrowed to $0.7M from $0.9M.
Craft digitally printed 4.8M cans (+320% YoY); segment EBITDA loss improved to $0.3M.
Operating costs reduced by over $0.6M through headcount and professional fee cuts.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Beeline Holdings, Inc. reported the three months ending March 31, 2024 results: revenue $2.5 million, net income $1.3 million.

Period: the three months ending March 31, 2024
Revenue: $2.5 million
Net income: $1.3 million
Result: reported results

Exact text from the filing

Gross sales for the three months ending March 31, 2024 decreased to $2.5 million from $2.9 million for the three months ending March 31, 2023. Higher digital printing sales were offset by lower mobile canning and spirits sales. Spirits sales fell due primarily to the Company’s bulk sale of 250 barrels for gross proceeds of $0.6 million during the three months ended March 31, 2023. Gross profit for the three months ending March 31, 2024 decreased to $0.2 million from $0.6 million for the three months ending March 31, 2023. Consolidated gross margin was 8% and 22% for the three months ending March 31, 2024 and 2023, respectively. Craft C+P gross margin increased due to higher printed can volumes. Spirits gross margin decreased due to gross profit of $0.5 million from bulk sales of barrels during the three months ended March 31, 2023. Operating costs for the three months ending March 31, 2024 decreased to $0.2 million from $0.6 million for the three months ending March 31, 2023 primarily

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Source: SEC EDGAR

accession 0001493152-24-018894

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