Kaival Brands Q3 net loss narrows to $1.8M; gross margin improves to 36%

Kaival Brands Innovations Group, Inc.

2023-Q3 EPS reported -$0.16 revenue$9,129,813

Revenue $3.58M vs $3.85M YoY; gross profit $1.30M (36.3%) vs $0.44M (11.5%)
Net loss $1.80M ($0.03 EPS) vs $3.86M ($0.09 EPS) in prior-year quarter
Expanded distribution: Circle K to 2,700+ stores; initial orders with Kwik Trip/Mapco
Amended PMI licensing agreement simplifying payments; received ~$135K reconciliation and ~$121K royalty in September
Appointed Thomas Metzler CFO, Eric Mosser CEO, Stephen Sheriff COO

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

Kaival Brands Innovations Group, Inc. reported fiscal 2023 third quarter ended July 31, 2023 results: net income $1.8 million, EPS $0.03 basic and diluted net loss per share.

Period: fiscal 2023 third quarter ended July 31, 2023
Net income: $1.8 million
EPS: $0.03 basic and diluted net loss per share
Result: reported results

Exact text from the filing

Revenues for the third quarter of fiscal year 2023 were $3.6 million, compared to $3.8 million in the same period of the prior fiscal year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Kaival Brands Innovations Group, Inc. reported fiscal 2023 third quarter ended July 31, 2023 results: net income $1.8 million, EPS $0.03 basic and diluted net loss per share.

Period: fiscal 2023 third quarter ended July 31, 2023
Net income: $1.8 million
EPS: $0.03 basic and diluted net loss per share
Result: reported results

Exact text from the filing

Net loss for the third quarter of fiscal year 2023 was $1.8 million, or $0.03 basic and diluted net loss per share, compared to a net loss of $3.9 million, or $0.09 basic and diluted net loss per share, for the third quarter of fiscal year 2022.

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Source: SEC EDGAR

accession 0001731122-23-001717

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