Business
BEACN Announces Continued Year over Year Growth with Q2 Results
Not for distribution to United States Newswire Services or for dissemination in the United States...
About this update from Beacn Wizardry & Magic Inc
[{"type":"text","content":"BEACN Announces Continued Year over Year Growth with Q2 ResultsNot for distribution to United States Newswire Services or for dissemination in the United StatesNet sales grew by 42% year over year including gains from D2C and B2B sales. VICTORIA, BC / ACCESSWIRE / August 23, 2024 / BEACN Wizardry & Magic Inc. (TSXV:BECN) (\"BEACN\" or the \"Company\") is pleased to announce that revenue for the six months ended June 30, 2024, increased to $1,558,868, an increase of 42% compared to $1,095,024 for the same period in 2023. The Company has continued to develop new sales channels and capitalized on the introduction of BEACN Mic Stand in late 2023.The six-month period achieved gross profit of $590,800 (38%) (2023 - gross profit of $476,901 (44%)) and a net loss of $842,133 (2023 - loss of $1,086,760). Further information is available from the Company's financial statements for the six months ended June 30, 2024, available under the Company's profile on SEDAR at www.sedarplus.ca.Sales in Q2 2024 included continued reorders from B2B partners including Gandalf Distribution AB, a Nordic consumer electronics distributor, based on early retailer interest. Sale velocity from US-based online retailer Sweetwater's Mic Month promotion was encouraging and featured BEACN in prominent positions.\"To hit the halfway point in the year with gains in D2C and B2B sales vs. last year is a great motivation for the future. We're confident the strategies and efforts we're putting in can lead to continued growth,\" says BEACN CEO, Craig Fraser.BEACN plans to add more B2B retail and distribution partners, introduce new product, and launch new marketing initiatives in the second half of 2024.Media & Investor EnquiriesCraig [email protected]+1 (778) 561-1450About BEACNBEACN (TSXV:BECN), a Victoria BC based consumer electronics company, develops innovative audio equipment, peripherals and technology for gamers, live streamers, and content creators. BEACN is committed to delivering premium products that enable everyone to produce studio-quality content. BEACN's award-winning product ecosystem includes BEACN Mic, BEACN Mic Stand, BEACN Mix and BEACN Mix Create. BEACN is listed on the TSXV under the symbol BECN.Cautionary Note Regarding Forward-Looking InformationThis press release contains \"forward-looking information\" and \"forward-looking statements\...