Upexi, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
February 14, 2024 at 04:41 pm EST
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Upexi, Inc. reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported sales was USD 21.83 million compared to USD 26.74 million a year ago. Net loss was USD 2.44 million compared to net income of USD 2.67 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to basic earnings per share from continuing operations of USD 0.19 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to diluted earnings per share from continuing operations of USD 0.17 a year ago. Basic loss per share was USD 0.12 compared to basic earnings per share of USD 0.15 a year ago. Diluted loss per share was USD 0.12 compared to diluted earnings per share of USD 0.14 a year ago.
For the six months, sales was USD 49.18 million compared to USD 37.96 million a year ago. Net loss was USD 3.79 million compared to net income of USD 0.072164 million a year ago. Basic loss per share from continuing operations was USD 0.19 compared to basic earnings per share from continuing operations of USD 0.08 a year ago. Basic loss per share was USD 0.18.
Upexi, Inc. is a multi-faceted brand owner with brands in the health, wellness, pet, beauty, and other growing markets. The Company focuses on direct-to-consumer and Amazon brands. The Company utilizes its in-house software-as-a-service (SaaS) programmatic advertising technology to help achieve a lower cost per acquisition and accumulate consumer data for increased cross-selling between its growing portfolio of brands. Its Branded Product segment is focused on the development, growth, and distribution of the branded products that the Company own. Its Recommerce segment is focused on the purchase and sale of new and used products through channels, such as Amazon and wholesale distributors. The Companyâs brands include VitaMedica, Tytan Tiles, and others. VitaMedica offers clinician-originated nutraceuticals and cosmeceuticals products. VitaMedicaâs sales model includes wholesale distribution through surgeons and med spas and direct to consumers through e-commerce and marketplaces.