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Eightco Announces Second Quarter 2025 Financial Results
Globenewswireยท 2025-08-20 12:00
Core Viewpoint - Eightco Holdings Inc. reported a significant increase in revenues but also faced a net loss for the second quarter and first half of 2025 compared to the same periods in 2024 [1][3]. Financial Performance - Revenues for the second quarter of 2025 reached $7.6 million, up from $5.3 million in the same quarter of 2024, representing a year-over-year increase of approximately 43.3% [2][3]. - Gross profit for the second quarter was $1.2 million, slightly down from $1.3 million in the prior year quarter [2][3]. - The operating loss for the second quarter was $1.2 million, compared to an operating loss of $0.9 million in the same quarter of 2024 [2][3]. - The net loss for the second quarter was $1.2 million, or $0.38 per share, contrasting with a net income of $4.4 million, or $2.15 per diluted share, in the prior year quarter [2][3]. - For the first half of 2025, revenues totaled $17.5 million, compared to $13.2 million in the first half of 2024, marking an increase of approximately 32.8% [2][3]. - The net loss for the first half of 2025 was $3.7 million, compared to a net income of $6.4 million in the first half of 2024 [2][3]. Company Overview - Eightco Holdings Inc. operates subsidiaries including Forever 8, which focuses on inventory capital and management for e-commerce sellers, and Ferguson Containers, Inc., which provides manufacturing and logistical solutions [3][4]. - The company is actively pursuing new opportunities to enhance its portfolio of technology solutions aimed at the e-commerce ecosystem through strategic acquisitions [4].