Creatd, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:01 pm EDT
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Creatd, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.699364 million compared to USD 1.63 million a year ago. Net loss was USD 4.45 million compared to USD 8.34 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.41 a year ago.
For the six months, sales was USD 1.69 million compared to USD 2.97 million a year ago. Net loss was USD 20.36 million compared to USD 14.6 million a year ago. Basic loss per share from continuing operations was USD 0.43 compared to USD 0.77 a year ago.
Creatd, Inc. is a technology company focused on providing economic opportunities for creators. The Company operates through three segments: Creatd Labs, Creatd Ventures, and Creatd Partners. The Creatd Labs segment is focused on development initiatives. Creatd Labs segment houses the Company's technology, including its flagship platform, Vocal, as well as oversees the Company's content creation framework and management of its digital communities. Its flagship product, Vocal, delivers a long-form, digital publishing platform organized into engaged niche-communities. The Creatd Ventures segment builds, develops, and scales e-commerce brands. This segment sells products from its two majority-owned direct-to-consumer brands, Camp and Dune Glow Remedy. Creatd Partners segment fosters relationships between brands and creators through its suite of agency services, including content marketing (Vocal for Brands), performance marketing (Seller's Choice), and influencer marketing (WHE Agency).