Eightco Holdings Inc (OCTO)

[Trooperstocks]

$OCTO Financial highlights and statistics:

Significant improvement in first quarter 2024 net income of $4.9 million compared to a net loss of $49.9 million for the prior year quarter, due to improved operating performance and elimination of warrant losses related to a retired convertible note.
First quarter 2024 revenues of $9.6 million compared to $15.9 million for the prior year quarter, driven by reduction in capital available for cell phone sales after repayment of the convertible note.
First quarter 2024 SG&A of $3.5 million, down 35.3% from $5.3 million in the prior year quarter.
First quarter 2024 gross profit margin of 19.6%, compared to 11.4% in the prior year quarter.
First quarter 2024 EBITDA of $3.7 million compared to a loss of $46.4 million in the prior year quarter
In late February 2024 the Company completed a private placement priced at $0.82 per share. The Company currently has approximately 8.8 million shares outstanding, resulting in a market capitalization of approximately $4.6 million based on the closing price of the Company’s common stock on July 15, 2024. Management believes the current market capitalization may not fully reflect the Company's substantial progress in enhancing shareholder equity and operational efficiencies described above.