Starco Brands Q3 revenue falls 12% to $15.5M; net loss $6.3M on non-cash items; sequential margin improvement to 41%

Starco Brands, Inc.

2024-Q3 EPS reported -$0.04 vs consensus $0.00 ▼ miss (-4000000.0%)

Q3 2024 revenue $15.5M vs $17.7M YoY; gross margin 41.2% (sequential improvement from Q2).
Net loss $6.3M vs net income $2.3M in Q3 2023 due to $5.1M non-cash fair value share adjustment.
Adjusted EBITDA $0.7M vs $1.1M in prior-year quarter; nine-month adjusted EBITDA loss $1.5M.
Soylent segment revenue up to $30.4M from $27.6M; Starco Brands segment down to $9.0M from $11.3M.
Management identified ~$3M in cost optimization; cash $1.6M, inventory $13.2M as of Sep 30.

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