Business
Eightco Holdings Inc. Raises Revenue Guidance to $73 Million for Fiscal Year 2023
SAFETY HARBOR, Florida, June 21, 2023 (GLOBE NEWSWIRE) -- Eightco Holdings Inc. (NASDAQ: OCTO) (“Eightco” or the “Company”) announced today that it is raising
About this update from Eightco Holdings Inc.
[{"type":"text","content":"SAFETY HARBOR, Florida, June 21, 2023 (GLOBE NEWSWIRE) -- Eightco Holdings Inc. (NASDAQ: OCTO) (“Eightco” or the “Company”) announced today that it is raising its revenue guidance for fiscal year 2023. The Company now expects to generate $73 million in revenue, representing over a 20% increase over its previous guidance of $60 million. The upward revision in revenue guidance reflects the successful implementation of strategic initiatives, including, but not limited to, Mobi-hub Funding, the previously announced joint venture between Eightco’s wholly owned subsidiary, Forever 8 Fund, LLC (“Forever 8”) and Mobi-hub Ltd. The decision to increase the revenue guidance signifies the Company's strong performance thus far in 2023 and its ability to capitalize on relevant market opportunities. \"We are thrilled to announce the upward revision in our revenue guidance, reflecting the strong momentum we have experienced so far this year,\" said Brett Vroman, CFO of Eightco. \"Our team's dedication and hard work, combined with our strategic focus on delivering value to our customers, have enabled us to outperform in a challenging market environment and outpace previous expectations,\" added Vroman. About Eightco Eightco (NASDAQ: OCTO) is committed to growth focused around its existing subsidiaries, Forever 8, an inventory management platform for e-commerce sellers, and Ferguson Containers, a provider of complete manufacturing and logistical solutions for product and packaging needs, through strategic management and investment. In addition, the company is actively seeking new opportunities to add to its portfolio of technology solutions focused on the e-commerce ecosystem through strategic acquisitions. Through a combination of innovative strategies and focused execution, Eightco aims to create significant value and growth for its portfolio companies and shareholders. For additional information, please visit www.8co.holdings Forward-Looking Statements This press release contains forward-looking statements within the meaning of the federal securities laws. All statements in this press release other than statements of historical fact could be deemed forward looking. Words such as “plans,” “expects,” “will,” “anticipates,” “continue,” “expand,” “advance,” “develop” “believes,” “guidance,” “target,” “may,” “remain,” “project,” “outlook,” “intend,...