Eightco Q2 net income $4.4M vs loss $8.9M; revenue falls to $7.0M from $20.5M on restructuring

Eightco Holdings Inc.

2024-Q2 EPS reported $0.75 revenue$16,636,833

Q2 net income $4.4M vs net loss ($8.9M) YoY; driven by liability extinguishments and lower warrant losses.
Revenue $7.0M down 66% from $20.5M due to reduced capital for cell phone sales after convertible note repayment.
Gross margin improved to 25.3% from 12.3%; SG&A down 26.6% to $3.5M.
Eliminated $5.4M in convertible notes and 5.8M dilutive shares; $7.4M liability cancellation.
Adjusted EBITDA loss narrowed to ($0.8M) from ($1.9M) in prior year quarter.

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