Business
American Rebel Reports Financial Results for the Second Quarter and First Half Ended June 30, 2024
Nashville, TN, Aug. 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, Aug. 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 (“Q2 2024”) and first half ended June 30, 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. First Half 2024 Financial Summary: Revenue $7.3 Million Gross Profit $0.87 Million EBITDA (GAAP) $(6.4) Million Adjusted EBITDA (Non-GAAP)1 $(3.7) Million Second Quarter 2024 Financial Summary: Revenue $3.3 Million Gross Profit $0.31 Million EBITDA (GAAP) $(4.2) Million Adjusted EBITDA (Non-GAAP)1 $(2.6) 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. Recent Business Highlights: American Rebel Beer will enter full scale production in August of 2024Successfully launched American Rebel Beer at Country Stampede in Bonner Springs, KSReached premier distribution partnerships for American Rebel Beer in the following regions: Bonbright Distributors - OhioBest Brands - TennesseeStandard Beverage – KansasDichello Distributors - Connecticut Multiple distributors in numerous territories are engaged and we look forward to announcing additional distribution agreements during Q3 2024.American Rebel Light Beer surpassed 150+ retail locations throughout Kansas as of August 2024.Continued improvement in our subsidiary Champion Safe’s financial performance with tighter cost controls and increasing inventory. Andy Ross, Chief Executive Officer of American Rebel, commented, “America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer – Rebel Light is coming to a store near you. We made great strides during the quarter toward the market launch of our beer, with initial retail distribution in Kansas of our first production run. Our second run, which is much larger, is scheduled for late August. With our second run, we will be able to provide beer throughout our network of distributors while s...