Business
EIGHTCO HOLDINGS INC. HIGHLIGHTS RECENT ACCOMPLISHMENTS AND KEY MILESTONES
SAFETY HARBOR, Florida, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Eightco Holdings Inc. (NASDAQ: OCTO) (“Eightco” or the “Company”), a leading technology-driven
About this update from Eightco Holdings Inc.
[{"type":"text","content":"SAFETY HARBOR, Florida, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Eightco Holdings Inc. (NASDAQ: OCTO) (“Eightco” or the “Company”), a leading technology-driven e-commerce company, is pleased to highlight recent accomplishments and key milestones. The Company is committed to innovation and industry excellence and continues to position itself for sustained growth and success. Q2 Revenue Growth: Eightco increased revenues by 29.3% sequentially quarter over quarter to $20.5 million for the three months ended June 30, 2023.Non-dilutive Asset-Based Lending Facility: Eightco secured a crucial non-equity asset-based lending facility, further fortifying the financial foundation of its wholly-owned subsidiary, Forever 8 Fund, LLC (“Forever 8”). This facility enables Forever 8 to continue providing essential capital and inventory management solutions to its clients.Raised Revenue Guidance for Fiscal Year 2023: Building upon a track record of achievement, Eightco announced increased revenue guidance of $73 million for the fiscal year 2023.Successful Non-Deal Roadshow with Prominent Investment Bank: An effective non-deal roadshow was recently carried out in collaboration with a well-established investment bank, solidifying a new strategic partnership for the company.Name Change Reflecting Strategic Focus: This decision underscores the Company's evolving focus and dedication to delivering pioneering inventory solutions.Agreement with Electronics Distributor Mobi-Hub LTD: Forever 8 has solidified its position as an industry leader by securing a significant inventory management agreement with Mobi-Hub Ltd. (“Mobi-Hub”), a prominent international electronics distributor.Transforming the Refurbished Mobile Phone Industry: Forever 8 and Mobi-Hub announced a strategic partnership through a joint venture, Mobi-Hub Funding (“Mobi-Hub Funding”) aimed at redefining the refurbished mobile phone industry. This collaboration will harness the strengths of both entities to deliver enhanced value and services to customers, focusing on creating a tailored one-stop shop for used mobile phones and electronics.Headline Sponsorship for ITC Malta 2023 Show: Mobi-Hub Funding served as a headline sponsor for the ITC Malta 2023 show. This sponsorship underscores Forever 8 and Mobi-Hub’s commitment to driving innovation and excellence across the e-commerce and electronics se...