Fresh Vine Wine(VINE) - 2025 Q2 - Quarterly Results

Financial Performance - Amaze reported a revenue of $0.87 million for Q2 2025, representing a 1,134% increase year-over-year from $0.07 million in Q2 2024[16] - Gross profit for Q2 2025 increased to $0.79 million, a 1,903% rise from a gross loss of $(0.04) million in the same period last year[16] - The net loss for Q2 2025 was $5.0 million, or $(3.14) per share, compared to a net loss of $0.88 million, or $(1.30) per share, in Q2 2024[16] - Revenues for the three months ended June 30, 2025, reached $869,884, a significant increase from $70,484 in the same period of 2024, representing a growth of approximately 1,235%[25] - Gross income for the six months ended June 30, 2025, was $784,936, compared to a gross loss of $(154,924) for the same period in 2024, indicating a turnaround in profitability[25] - Operating loss for the three months ended June 30, 2025, was $(4,285,912), compared to $(879,569) in the same period of 2024, reflecting an increase in operational expenses[25] - Net loss attributable to common stockholders for the six months ended June 30, 2025, was $(7,246,908), compared to $(2,148,017) in the same period of 2024, highlighting increased financial challenges[25] Cash and Liquidity - Cash reserves increased to $0.31 million as of June 30, 2025, up from $0.16 million at the end of 2024[16] - Cash and restricted cash at the end of the period was $310,683, up from $194,795 at the end of the same period in 2024, showing improved liquidity[27] - Net cash used in operating activities for the six months ended June 30, 2025, was $(3,902,281), compared to $(946,562) in the same period of 2024, indicating higher cash outflows[27] - Proceeds from notes payable net of issuance costs amounted to $2,488,241 for the six months ended June 30, 2025, compared to $15,000 in the same period of 2024, reflecting increased financing activities[27] Operational Metrics - Total active creators on the platform exceeded 12 million, with over 200 million lifetime storefront visits[16] - Gross Merchandise Value (GMV) reached $3.77 million, with an average order value (AOV) of $50.00 for the first half of 2025[8] - The U.S. conversion rate for all traffic was reported at 0.41%[8] Strategic Initiatives - The company launched new integrations and partnerships, including with Picsart and VisitIQ, to enhance monetization and data analysis capabilities[7] - Strategic partnerships were formed with various entities, including Parler, to expand the sales network for creators[7] Expenses and Financial Structure - The company reported an equity-based compensation expense of $190,359 for the six months ended June 30, 2025, compared to $3,251 in the same period of 2024, indicating a shift in compensation strategy[25] - Total liabilities and stockholders' equity stood at $98,929,692, with total stockholder's equity at $70,626,750, reflecting the company's financial structure[23] - The company experienced a significant increase in selling, general and administrative expenses, which totaled $6,768,134 for the six months ended June 30, 2025, compared to $1,933,748 in the same period of 2024, indicating higher operational costs[25] Future Outlook - The company expects sequential revenue growth in Q3 and Q4 2025, anticipating a temporary profit in Q4 2025/Q1 2026 due to seasonal sales increases[10]