Kaival Brands Q2 revenues flat at $3.0M; relaunches BIDI Stick at 1,000+ Circle K locations

Kaival Brands Innovations Group, Inc.

2024-Q2 EPS reported -$2.60 revenue$5,546,220

Net loss narrowed to $4.0M ($0.07/sh) from $5.0M ($0.16/sh) YoY; gross margin turned negative at (4.2%).
Revenues $3.0M vs $3.1M prior year, impacted by $1.4M in customer credits, discounts and rebates.
Cash $1.1M, working capital $3.7M; expects to augment via increased sales or debt/equity financings.
Relaunched BIDI Stick in over 1,000 Circle K locations; targeting ramp to 5,000 stores in South Atlantic and Midwest.
Acquired GoFire IP (12 patents, 46 applications) for equity + contingent cash; appointed James Cassidy as independent director.

item 2.02 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Kaival Brands Innovations Group, Inc. reported the fiscal 2023 second quarter ended April 30, 2023 results: revenue approximately $3.0 million.

Period: the fiscal 2023 second quarter ended April 30, 2023
Revenue: approximately $3.0 million
Result: reported results

Exact text from the filing

Revenues for the second quarter of fiscal year 2023 were approximately $3.0 million, compared to approximately $3.1 million in the same period of the prior fiscal year.

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Kaival Brands Innovations Group, Inc. filing history →

Source: SEC EDGAR

accession 0001731122-23-001134

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