Hour Loop Q2 2024 revenue $28.1M (+25% YoY); swings to profit; raises FY guidance

Hour Loop, Inc

2024-Q2 EPS reported $0.05 revenue$52,751,829

Net revenue $28.1M (+25.2% YoY); net income $0.6M vs loss $0.8M; diluted EPS $0.02 vs loss $0.02.
Gross margin improved to 55.7% from 50.7%; operating expenses as % of revenue decreased to 52.3% from 54.4%.
Cash $3.3M (Dec 2023: $2.5M); inventories $14.7M (Dec 2023: $14.3M).
FY2024 guidance raised: revenue $165M-$250M (25%-89% growth); net income $4M-$6M.
CEO: revenue growth accelerated in Q2 vs Q1; cautiously optimistic on demand despite uncertain economy.

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