Business
American Rebel Reports Financial Results for the Quarter Ended March 31, 2024
Nashville, TN, June 20, 2024 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB) ("American Rebel" or the "Company"), a designer, manufacturer,
About this update from American Rebel Holdings, Inc.
[{"type":"text","content":"Nashville, TN, June 20, 2024 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB) (\"American Rebel\" or the \"Company\"), a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel, and American Rebel Beer (americanrebelbeer.com), announced its financial results for the quarter (“Q1 2024”) ended March 31, 2024. Investors are encouraged to read the Company’s quarterly report on Form 10-Q, which was filed with the Securities and Exchange Commissions (the “SEC”) and contains additional information and is posted at https://americanrebel.com/investor-relations. Q1 2024 Financial Summary: Revenue$4.0 MillionGross Profit$0.84 MillionEBITDA (GAAP)$(2.3) MillionAdjusted EBITDA (Non-GAAP) 1$(1.1) Million 1 - Adjusted EBITDA is a non-GAAP measure. Refer to the tables at the end of this press release for a reconciliation to GAAP. Current Business Highlights: Successfully launched American Rebel Beer and will enter full scale production in August of 2024.Reached premier distribution partnerships for American Rebel Beer in the following states: Bonbright Distributors – OhioBest Brands – TennesseeStandard Beverage – KansasDichello Distributors – Connecticut In addition, the Company is currently communicating with top distributors in other states including Mississippi, Alabama, Missouri, New York, New Jersey, Vermont and Rhode Island. American Rebel Light Beer was available for consumers to purchase and featured at the Eldora Speedway in Rossburg, OH in early June and will be featured at the Country Stampede Music Festival in Bonner Springs, KS June 27 – 29.In late July 2024, American Rebel Light Beer will be available in the Kansas Price Chopper grocery store chain. Price Chopper is a market leading grocery store chain in Kansas.American Rebel Light will be available in several premier bars in the Broadway Entertainment District in Nashville, TN this September. Broadway in Nashville is the top selling square mile of beer and alcohol sales in the country.American Rebel subsidiary Champion Safe’s financial margins expected to improve in the coming quarters due to tighter cost controls.Completed the first quarterly review with the Company’s new auditor, GBQ Partners, LLC, within the time allotted by the Securities and Exchange Commission. Andy Ross, Chief Executive Officer of Amer...