Business
BEACN Announces Financial Results for Year Ended December 31, 2024
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 Financial Results for Year Ended December 31, 2024Not for distribution to United States Newswire Services or for dissemination in the United States VICTORIA, BC / ACCESS Newswire / April 30, 2025 / BEACN Wizardry & Magic Inc. (TSX-V:BECN) (\"BEACN\" or the \"Company\") is pleased to announce that its annual financial statements and accompanying MD&A for the fiscal year ended December 31, 2024 (the \"Annual Financial Documents\") have been filed. For the year ended December 31, 2024, the Company achieved sales revenue of $3,466,706 (2023 - $2,933,180), gross profit of $1,376,066 (40%) (2023 - gross profit of $1,079,875 (37%)) and incurred a net loss of $1,351,109 (2023 - loss of $2,281,917). Revenue in the final quarter was up 26% compared with the same period in the previous year due to stronger performance through BEACN's Amazon sales channel during the holiday sales period and the addition of BEACN Studio, a \"2PC\" dual-USB audio interface.Further information is available from the Company's financial statements for the year ended December 31, 2024, available under the Company's profile on SEDAR at www.sedar.com.BEACN continues to invest in product development and plans to introduce new product in the near term. The Company is also pleased with its continued growth into B2B sales and expects that an increased retailer base, its growing strategic distribution network and the introduction of additional products will lead to increased sales and profitability in the future.\"2024 was an exciting year of new product releases, industry-first feature introductions, and expansion of both our retail and eCommerce business. BEACN capitalized on the introduction of BEACN Mic Stand in late 2023 and the introduction of BEACN Studio in September 2024. BEACN Studio follows in the successful footsteps of BEACN Mic, bringing BEACN's patented signal processing algorithms and studio quality audio to XLR microphone customers. Additionally, BEACN Studio boasts revolutionary \"2PC\" dual-USB multi-channel audio communications with remote application management capability, representing yet another industry-first innovation for streamers and creators. Both products offered opportunities to introduce additional direct-to-consumer bundles across the BEACN product lineup\", says BEACN CEO, Craig FraserIn 2025, BEACN will continue...