Vintage Wine Estates, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
March 12, 2024 at 04:35 pm EDT
Share
Vintage Wine Estates, Inc. reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported revenue was USD 67.99 million compared to USD 78.4 million a year ago. Net loss was USD 49.35 million compared to USD 129.14 million a year ago. Basic loss per share from continuing operations was USD 0.83 compared to USD 2.19 a year ago. Diluted loss per share from continuing operations was USD 0.83 compared to USD 2.19 a year ago.
For the six months, revenue was USD 141.26 million compared to USD 156.48 million a year ago. Net loss was USD 64.41 million compared to USD 127.6 million a year ago. Basic loss per share from continuing operations was USD 1.08 compared to USD 2.17 a year ago. Diluted loss per share from continuing operations was USD 1.08 compared to USD 2.17 a year ago.
Vintage Wine Estates, Inc. is a vintner in the United States, offering luxury wines produced by its heritage wineries, as well as several popular lifestyle wines. Its brands include Bar Dog, B.R. Cohn, Cameron Hughes, Cherry Pie, Firesteed and Kunde. It also produces hard cider, another form of wine, under the ACE Cider brand. Its segments include Direct-to-Consumer (DTC), Business-to-Business (B2B) and Wholesale. DTC segment sells wine and other merchandise directly to consumers through wine club memberships, at wineriesâ tasting rooms, at wine tasting events, and through eCommerce. B2B segment generates revenue primarily from the sale of private label wines and spirits, and custom services, such as fermentation, barrel aging, winemaking, procurement of dry goods, bottling and cased goods storage. Wholesale segment generates revenue from products sold to distributors, who then sell them to off-premise retail locations such as grocery stores, specialty and multi-national retail chains.
VINTAGE WINE ESTATES, INC. 
