Core Insights - Hour Loop, Inc. reported a revenue growth of 4.6% for the year 2024, reaching $138.3 million compared to $132.1 million in 2023, despite facing challenges in the overall economy and logistics [2][3][9] - The company achieved a net income of $0.66 million in 2024, a significant improvement from a net loss of $2.43 million in 2023, attributed to better cost management and operational efficiencies [5][9][17] - For 2025, Hour Loop anticipates net revenue between $145 million and $160 million, indicating a year-over-year growth of approximately 5% to 15% [7] Financial Performance - Gross profit margin increased to 52.1% in 2024 from 50.3% in 2023, driven by improved product costs and inventory management [4] - Operating expenses as a percentage of net revenues decreased to 51.6% in 2024 from 52.6% in 2023, reflecting better management of storage fees [4] - Cash provided by operating activities was $0.3 million in 2024, a recovery from cash used in operating activities of $2.1 million in 2023 [9] Operational Highlights - The company maintained inventories at $14.6 million as of December 31, 2024, slightly up from $14.3 million in 2023 [6] - Hour Loop operates primarily as a third-party seller on Amazon and has expanded to other marketplaces like Walmart, eBay, and Etsy, managing over 100,000 SKUs across various product categories [10] - The company plans to expand its operations by increasing the number of business managers, vendors, and SKUs in the coming years [10]

[PART I - FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) For the first quarter of 2024, Hour Loop, Inc. reported a significant turnaround, posting a net income of **$1.07 million** compared to a net loss of **$1.24 million** in the same period last year. This was driven by a **17.2% increase** in net revenues to **$24.7 million**. The balance sheet shows total assets of **$16.7 million** and total liabilities of **$11.2 million** as of March 31, 2024. Cash flow from operations improved dramatically to a positive **$0.49 million** from a negative **$3.29 million** year-over-year [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2024, the company's total assets decreased to **$16.7 million** from **$19.6 million** at the end of 2023, primarily due to a reduction in inventory and credit cards payable. Total liabilities also decreased significantly to **$11.2 million** from **$15.1 million**, while stockholders' equity increased to **$5.5 million** from **$4.5 million**, reflecting the quarter's net income Consolidated Balance Sheet Highlights (in U.S. Dollars) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $2,922,080 | $2,484,153 | | Inventory, net | $11,618,489 | $14,276,555 | | Total current assets | $15,506,968 | $18,013,331 | | **Total Assets** | **$16,745,490** | **$19,550,280** | | **Liabilities & Equity** | | | | Accounts payable | $3,420,221 | $3,812,954 | | Credit cards payable | $1,861,435 | $4,404,445 | | Due to related parties | $4,170,418 | $4,170,418 | | Total liabilities | $11,207,312 | $15,097,383 | | Total stockholders' equity | $5,538,178 | $4,452,897 | | **Total Liabilities & Equity** | **$16,745,490** | **$19,550,280** | [Consolidated Statements of Operations and Comprehensive Income (Loss)](index=5&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20(Loss)) The company achieved a significant turnaround in profitability for the three months ended March 31, 2024. Net revenues grew **17.2%** year-over-year to **$24.7 million**. Gross profit increased substantially to **$14.5 million** from **$9.6 million**. The company reported net income of **$1.07 million**, a stark contrast to the net loss of **$1.24 million** in the prior-year period, resulting in an EPS of **$0.03** versus **($0.04)** Statement of Operations Summary (in U.S. Dollars) | Metric | Three Months Ended Mar 31, 2024 | Three Months Ended Mar 31, 2023 | | :--- | :--- | :--- | | Revenues, net | $24,681,122 | $21,067,609 | | Gross profit | $14,452,206 | $9,615,702 | | Income (loss) from operations | $1,538,172 | $(1,612,259) | | Net income (loss) | $1,065,814 | $(1,235,244) | | Basic and diluted EPS | $0.03 | $(0.04) | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the first quarter of 2024, net cash provided by operating activities was **$492,943**, a significant improvement from the **$3,289,076** used in the same period in 2023. This positive shift was primarily driven by the return to profitability and favorable changes in working capital, particularly a smaller increase in inventory and a decrease in credit card payables compared to the prior year. The company's cash and cash equivalents increased to **$2.9 million** at the end of the period Statement of Cash Flows Summary (in U.S. Dollars) | Cash Flow Activity | Three Months Ended Mar 31, 2024 | Three Months Ended Mar 31, 2023 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $492,943 | $(3,289,076) | | Net cash used in investing activities | $(17,798) | $(3,379) | | Net change in cash and cash equivalents | $437,927 | $(3,287,798) | | Cash and cash equivalents at end of period | $2,922,080 | $1,274,791 | [Notes to Unaudited Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Key notes highlight that the company operates as a single e-commerce segment, heavily reliant on the Amazon platform, which accounted for approximately **99% of revenue** in Q1 2024. The company has outstanding loans from related parties totaling **$4.17 million** with a **5.5% interest rate**, maturing at the end of 2024. Inventory allowance for obsolete items was **$0.64 million**. The company also has an outstanding balance of **$625,978** on a line of credit with Taishin International Bank - The company operates as a technology-enabled consumer products company, primarily selling through online retail channels like Amazon, Walmart, and its own website. It functions as a **single segment**: online retail (e-commerce)[18](index=18&type=chunk) - The business is highly dependent on the Amazon sales platform, which provided approximately **99% of revenue** for the three months ended March 31, 2024[65](index=65&type=chunk) - As of March 31, 2024, the company had an outstanding loan of **$4,170,418** due to its CEO and a board member. The loan has a **5.5% annual interest rate** and matures on December 31, 2024[99](index=99&type=chunk)[100](index=100&type=chunk) - The company has a line of credit with Taishin International Bank, with an outstanding balance of **$625,978** as of March 31, 2024. The line of credit matures on August 30, 2024, and bears a **3.2% annual interest rate**[87](index=87&type=chunk)[88](index=88&type=chunk) - An inventory allowance of **$637,058** was recorded as of March 31, 2024, for obsolete and slow-moving inventory[74](index=74&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the **17.15% revenue growth** in Q1 2024 to a **23.1% increase in total orders**, reflecting continued growth in its operating model despite competitive pressures. The company turned a profit of **$1.07 million** compared to a loss of **$1.24 million** in Q1 2023. Operating expenses rose by **15.02%**, mainly due to higher platform fees proportional to revenue. The company's liquidity improved, with cash from operations turning positive. Key financial obligations include a **$4.17 million** loan from affiliated parties and a line of credit from Taishin Bank [Overview](index=26&type=section&id=Overview) Hour Loop operates as an online retailer primarily on Amazon, using a wholesale/reselling business model. The company manages over 100,000 SKUs across various categories. Its competitive advantages are its experienced operations and sales teams and a proprietary software system that optimizes operations and identifies product gaps. The company has grown sales from $0 in 2013 to over **$132 million** in 2023 - The company's business model is **wholesale reselling**, primarily as a **third-party seller on Amazon**, with minor operations on Walmart.com and its own website[131](index=131&type=chunk)[132](index=132&type=chunk) - Key competitive advantages include **strong operations teams** and a **proprietary software system** for data analysis and operational optimization[138](index=138&type=chunk) - Sales grew from $0 in 2013 to **$132,124,202** in 2023[135](index=135&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) For Q1 2024, revenues increased by **17.15%** to **$24.7 million**, driven by a **23.1% increase in order volume**. Despite the higher order count, revenue growth was tempered by competitive pricing and discounts. Cost of goods sold decreased, contributing to a significant rise in gross profit. Operating expenses increased by **15.02%** due to higher platform fees associated with increased sales and changes in Amazon's FBA fee structure - Revenues increased by **$3.6 million (17.15%) YoY**, attributed to a **23.1% increase in total orders** (1,123,204 in Q1 2024 vs. 912,444 in Q1 2023)[141](index=141&type=chunk) - Operating expenses rose by **$1.7 million (15.02%) YoY**, primarily due to increased platform fees proportional to revenue and adjustments in Amazon's FBA fees[144](index=144&type=chunk) Q1 2024 vs Q1 2023 Performance | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total revenues | $24,681,122 | $21,067,609 | | Gross profit | $14,452,206 | $9,615,702 | | Income (loss) from operations | $1,538,172 | $(1,612,259) | | Net income (loss) | $1,065,814 | $(1,235,244) | [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity improved, with cash increasing to **$2.9 million** as of March 31, 2024. Net cash from operating activities was positive at **$0.49 million**, a significant reversal from a **$3.29 million** use of cash in the prior-year quarter. The company has no outstanding principal on its Bank of America loan but has a **$625,978** balance on its Taishin Bank line of credit and a **$4.17 million** loan from affiliated parties, both maturing in 2024 - Cash provided by operating activities was **$492,943** for Q1 2024, compared to cash used of **$(3,289,076)** in Q1 2023, driven by net income and working capital changes[153](index=153&type=chunk) - The company has a **$4,170,418** loan from its principal stockholders, with an amended interest rate of **5.5%** and a maturity date of December 31, 2024[163](index=163&type=chunk)[165](index=165&type=chunk) - The outstanding balance under the Taishin International Bank line of credit was **$625,978** as of March 31, 2024, with the facility maturing on August 30, 2024[161](index=161&type=chunk)[162](index=162&type=chunk) - The company has four operating leases for offices in Taiwan with total future minimum lease payments of **$171,323**[167](index=167&type=chunk)[168](index=168&type=chunk) [Critical Accounting Policies and Estimates](index=33&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) The company's critical accounting policies include revenue recognition under ASC Topic 606, where it acts as the **principal** in sales transactions on platforms like Amazon. Inventory is valued at the lower of cost or net realizable value, with a specific policy for writing down obsolete and slow-moving stock. The company also details its policies for leases, accounts receivable, and fair value measurement, noting no material impairment charges were recorded - Revenue is recognized when control of the product is transferred to the customer, typically at the shipment date. The company is considered the **principal** in its transactions on the Amazon platform[187](index=187&type=chunk)[188](index=188&type=chunk) - The company writes down the cost of obsolete and slow-moving inventories. A full inventory allowance is recorded for any SKU not sold for more than one year. As of March 31, 2024, this allowance was **$637,058**[176](index=176&type=chunk) - The company's business is **highly reliant on Amazon**, which accounted for approximately **99% of revenue** in Q1 2024. All accounts receivable are held by Amazon[200](index=200&type=chunk)[201](index=201&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable to the company for this reporting period - **Not applicable**[208](index=208&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and Interim CFO, evaluated the company's disclosure controls and procedures and concluded they were **effective** as of March 31, 2024. There were no material changes to the company's internal control over financial reporting during the quarter - The CEO and Interim CFO concluded that the company's disclosure controls and procedures were **effective** as of March 31, 2024[209](index=209&type=chunk) - **No changes occurred** during the quarter ended March 31, 2024, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[210](index=210&type=chunk) [PART II - OTHER INFORMATION](index=38&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that it is **not currently involved in any legal proceedings** that would have a **material effect** on its business, financial position, or results of operations - There are **no pending legal proceedings** against the company that are expected to have a **material effect** on its business or financials[212](index=212&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) As a smaller reporting company, Hour Loop is **not required to disclose material changes to the risk factors** previously reported in its Annual Report on Form 10-K - As a smaller reporting company, **no disclosure of material changes to risk factors is required**[213](index=213&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section is not applicable for the reporting period - **Not applicable**[214](index=214&type=chunk) [Defaults Upon Senior Securities](index=38&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports that there have been **no defaults on any material payments** during the quarter - **No material payment defaults occurred** during the covered period[215](index=215&type=chunk) [Other Information](index=39&type=section&id=Item%205.%20Other%20Information) The company states there have been no material changes to the procedures for security holders to recommend board nominees. Additionally, **no director or officer adopted or terminated any Rule 10b5-1 trading arrangements** during the last fiscal quarter - **No director or officer adopted or terminated any Rule 10b5-1 trading arrangement** or non-Rule 10b5-1 trading arrangement during the last fiscal quarter[219](index=219&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) The report lists several exhibits filed, including the Policy on Insider Trading, **certifications by the Principal Executive Officer and Principal Financial Officer**, and **Inline XBRL documents** - Exhibits filed include **certifications under Rule 13a-14(a) and Section 906 of the Sarbanes-Oxley Act**, as well as **XBRL data files**[220](index=220&type=chunk)

[Q1 2024 Performance Overview](index=1&type=section&id=Q1%202024%20Performance%20Overview) [Financial Highlights & Management Commentary](index=1&type=section&id=Financial%20Highlights%20%26%20Management%20Commentary) The company returned to profitability in Q1 2024 with a **17.2%** revenue increase to **$24.7 million** and a net income of **$1.1 million**, attributing success to improved margins from enhanced inventory quality, operational efficiencies, and expense control, expressing cautious optimism for the remainder of the year despite economic uncertainty Q1 2024 vs Q1 2023 Key Metrics | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Net Revenues | $24.7 million | $21.1 million | +17.2% | | Net Income (Loss) | $1.1 million | ($1.2 million) | Turnaround to Profit | | Cash from (used in) Operating Activities | $0.5 million | ($3.3 million) | +$3.8 million | - Management stated that gross and operating margins improved due to efforts in enhancing inventory quality and efficiency, improving operational efficiency, and managing expenses[2](index=2&type=chunk) - Despite an uncertain economy, the company continues to see good product demand and is confident in its ability to deliver value to stakeholders[2](index=2&type=chunk) [Detailed Financial Results](index=1&type=section&id=Detailed%20Financial%20Results) Revenue grew to **$24.7 million**, driven by operational maturity, with gross margin significantly improving to **58.5%** from **45.6%** in the prior year due to better product costs and inventory management, while operating expenses as a percentage of revenue decreased slightly to **52.3%**, contributing to a net income of **$1.1 million** (**$0.03** per diluted share), a strong turnaround from a **$1.2 million** loss in Q1 2023 Q1 2024 vs Q1 2023 Performance Details | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Revenues | $24.7 million | $21.1 million | | Gross Profit Percentage | 58.5% | 45.6% | | Operating Expenses (% of Net Revenues) | 52.3% | 53.2% | | Net Income (Loss) | $1.1 million | ($1.2 million) | | Diluted EPS | $0.03 | ($0.04) | - The **12.9 percentage point** increase in gross margin was a function of improved product costs, enhanced inventory quality and efficiency, and efforts made on margin increase[4](index=4&type=chunk) - The decrease in operating expenses as a percentage of revenue reflected better management of storage fees and labor costs[6](index=6&type=chunk) [Balance Sheet and Liquidity](index=2&type=section&id=Balance%20Sheet%20and%20Liquidity) As of March 31, 2024, the company's cash and cash equivalents improved to **$2.9 million** from **$2.5 million** at year-end 2023, driven by profitability, while inventory levels decreased to **$11.6 million** from **$14.3 million** over the same period, indicating strong sales momentum during the first quarter Key Balance Sheet Items (as of) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $2.9 million | $2.5 million | | Inventories | $11.6 million | $14.3 million | - The increase in cash was mainly from the combination of an increase due to profitability and a decrease due to payments made to vendors[8](index=8&type=chunk) - The decrease in inventory represented good sales momentum in the first quarter of 2024[8](index=8&type=chunk) [Full Year 2024 Financial Outlook](index=2&type=section&id=Full%20Year%202024%20Financial%20Outlook) [Full Year 2024 Guidance](index=2&type=section&id=Full%20Year%202024%20Guidance) Hour Loop projects full-year 2024 net revenue to be between **$145 million** and **$172 million**, which would represent **10%** to **30%** year-over-year growth, with net income for the full year expected to be in the range of **$0.5 million** to **$2 million** Full Year 2024 Financial Guidance | Metric | Guidance Range | Implied YoY Growth | | :--- | :--- | :--- | | Net Revenue | $145M - $172M | 10% - 30% | | Net Income | $0.5M - $2M | N/A | [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Balance Sheets](index=3&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) The balance sheet as of March 31, 2024, shows total assets of **$16.7 million** and total liabilities of **$11.2 million**, resulting in total stockholders' equity of **$5.5 million**, compared to total assets of **$19.6 million** and equity of **$4.5 million** at the end of 2023, with the decrease in total assets primarily driven by lower inventory and accounts receivable, and the decrease in liabilities mainly due to reduced credit card and accounts payable balances Balance Sheet Summary (in millions) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | **$16.7** | **$19.6** | | Cash and cash equivalents | $2.9 | $2.5 | | Inventory, net | $11.6 | $14.3 | | **Total Liabilities** | **$11.2** | **$15.1** | | Credit cards payable | $1.9 | $4.4 | | **Total Stockholders' Equity** | **$5.5** | **$4.5** | [Consolidated Statements of Operations](index=4&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS%20AND%20COMPREHENSIVE%20INCOME%20%28LOSS%29) For the three months ended March 31, 2024, the company reported net revenues of **$24.7 million** and a net income of **$1.1 million**, a significant improvement from the same period in 2023, which saw revenues of **$21.1 million** and a net loss of **$1.2 million**, with the turnaround driven by a substantial increase in gross profit to **$14.5 million** from **$9.6 million**, which outpaced the rise in operating expenses Statement of Operations Summary (For the Three Months Ended, in dollars) | Metric | March 31, 2024 | March 31, 2023 | | :--- | :--- | :--- | | Revenues, net | $24,681,122 | $21,067,609 | | Gross profit | $14,452,206 | $9,615,702 | | Income (loss) from operations | $1,538,172 | ($1,612,259) | | Net income (loss) | $1,065,814 | ($1,235,244) | | Basic and diluted EPS | $0.03 | ($0.04) | [Consolidated Statements of Cash Flows](index=5&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) The company generated **$0.5 million** in cash from operating activities in Q1 2024, a substantial improvement from the **$3.3 million** used in Q1 2023, with this positive cash flow primarily driven by net income and favorable changes in inventory, which offset significant cash used to reduce credit card payables, resulting in an ending cash balance for the quarter of **$2.9 million** Cash Flow Summary (For the Three Months Ended) | Metric | March 31, 2024 | March 31, 2023 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $492,943 | ($3,289,076) | | Net cash used in investing activities | ($17,798) | ($3,379) | | Net change in cash and cash equivalents | $437,927 | ($3,287,798) | | Cash and cash equivalents at end of period | $2,922,080 | $1,274,791 | [Company Information and Disclosures](index=2&type=section&id=Company%20Information%20and%20Disclosures) [About Hour Loop, Inc.](index=2&type=section&id=About%20Hour%20Loop%2C%20Inc.) Hour Loop is a US-based online retailer primarily operating as a third-party seller on Amazon.com, managing over **100,000** SKUs across various categories using advanced software for inventory management, with a growth strategy focused on increasing its number of business managers, vendors, and SKUs - The company is an e-commerce retailer that generates practically all its revenue as a third-party seller on www.amazon.com[10](index=10&type=chunk) - Hour Loop manages more than **100,000** stock-keeping units (SKUs) and utilizes advanced software to identify product gaps and maintain stock[10](index=10&type=chunk) - The company's future growth strategy is to expand by increasing the number of business managers, vendors, and SKUs[10](index=10&type=chunk) [Forward-Looking Statements & Investor Contact](index=2&type=section&id=Forward-Looking%20Statements%20%26%20Investor%20Contact) This section contains standard legal disclaimers regarding forward-looking statements, which are subject to various risks and uncertainties and are based on current estimates and assumptions, and also provides contact information for the finance department for investor inquiries - The press release includes forward-looking statements concerning business strategy and industry trends, which are subject to numerous conditions and risks[11](index=11&type=chunk) - Investor contact is provided via email: **finance@hourloop.com**[12](index=12&type=chunk)

Returns to Profitability Despite Warning Signs for the Overall Economy Provides Full Year 2024 Revenue and Net Income Guidance Redmond, WA, May 06, 2024 (GLOBE NEWSWIRE) -- Hour Loop, Inc. (NASDAQ:HOUR) ("Hour Loop"), a leading online retailer, announces its financial and operational results for the quarter ended March 31, 2024. Financial Highlights for First Quarter 2024:   Net revenues increased 17.2% to $24.7 million, compared to $21.1 million in the year-ago period;   Net income totaled $1.1 million, c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______, 20 ____, to ______, 20_____. Commission File Number 001-41204 HOUR LOOP, INC. (Exact name of registrant as specified in its charter) | Delaware | | 47-2869399 | | --- | - ...

Revenue and Growth - Revenue growth rate for 2023 was 37.7%, with net revenues increasing to $132.1 million from $95.9 million in 2022[2][4] - Hour Loop provided 2024 revenue guidance of $145 million to $172 million, representing 10% to 30% year-over-year growth, with expected net income of $0.5 million to $2 million[9] Profitability and Margins - Gross margin decreased by 0.8% to 50.3% in 2023, compared to 51.1% in 2022, due to increased market competition and aggressive clearance sales[6] - Net loss in 2023 was $2.4 million, or $0.07 per diluted share, compared to $1.5 million, or $0.04 per diluted share, in 2022[7] Operating Efficiency - Operating expenses percentage decreased by 0.5% to 52.6% in 2023, reflecting better management of shipping charges, advertising expenses, and labor costs[6] - Cash used for operating activities in 2023 was $2.1 million, a significant improvement from $11.6 million in 2022[5] Inventory Management - Inventories decreased to $14.3 million as of December 31, 2023, from $18.8 million in 2022, due to sales made throughout the year[8] Business Expansion - The company manages over 100,000 SKUs and plans to expand rapidly by increasing the number of business managers, vendors, and SKUs in upcoming years[10]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-41204 Hour Loop, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | | | --- | --- | | | 47-2869399 | For the transition period from ______, 20___, to _ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______, 20___, to _____, 20___. Commission File Number 001-41204 Hour Loop, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 47-2869399 (State or Other Ju ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-Q (Exact Name of Registrant as Specified in its Charter) Delaware 47-2869399 (State or Other Jurisdiction of Incorporation or Organization) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______, 20___, to _____, 20___. Com ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______, 20 ____, to ______, 20_____. Commission File Number 001-41204 HOUR LOOP, INC. (Exact name of registrant as specified in its charter) | Delaware | 47-2869399 | | --- | --- ...