Revenue Performance - Revenue increased to 10,717,000in2024,upby2,590,000 or 32% from 8,127,000 in 2023, driven by higher sales of Twist & Go smoothies and bulk products [120]. Cost and Expenses - Cost of revenue rose to 7,049,000 in 2024, an increase of 1,806,000or345,243,000 in 2023, primarily due to production line relocation costs [121]. - Selling, marketing, and distribution expenses increased by 525,000(203,139,000 in 2024 from 2,614,000in2023[123].−Generalandadministrativeexpensesroseby357,000 (13%) to 3,043,000in2024,withstock−basedcompensationincreasingby241,000 (44%) [127][129]. - Interest expense increased to 52,000in2024from8,000 in 2023, attributed to a new receivables-based line of credit [132]. Profitability - Gross profit for 2024 was 3,668,000(342,884,000 (36% margin) in 2023; excluding relocation costs, gross profit was 3,951,000(372,825,000 in 2024, slightly higher than the 2,824,000lossin2023[133].WorkingCapitalandFinancing−Workingcapitaldecreasedto606,000 as of December 31, 2024, down from 2,345,000attheendof2023,primarilyduetolossesincurred[136].−Thecompanyexecuteda2,000,000 convertible debt offering, with $1,390,000 issued and converted into approximately 820,000 shares of common stock [134]. Operational Efficiency - The introduction of carton packaging in 2023 has not fully mitigated supply loss, but expanded manufacturing capacity is expected to improve efficiency in 2025 [137].
