Business
LQR House Announces Audited Revenue Results for the Twelve-Month Period Ended December 31, 2024
Revenue More Than Doubled Year-Over-Year as Company Restructures for Long-Term Growth and Profitability MIAMI BEACH, FLORIDA / ACCESS Newswire / April 1, 2025 / LQR House Inc. (the "Company" or "LQR House") (NASDAQ:YHC), a niche ecommerce platform ...
About this update from Lqr House Inc.
[{"type":"text","content":"Revenue More Than Doubled Year-Over-Year as Company Restructures for Long-Term Growth and Profitability","length":103,"tagName":"p"},{"type":"text","content":"MIAMI BEACH, FLORIDA / ACCESS Newswire / April 1, 2025 / LQR House Inc. (the "Company" or "LQR House") (NASDAQ:YHC), a niche ecommerce platform specializing in the spirits and beverage industry, today announced its 2024 audited revenue results for the twelve-month period ended December 31, 2024. The results have been described in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission, which is available for public viewing at https://www.sec.gov/search-filings and on the Company's website: https://invest.lqrhouse.com/annual-reports/.","length":645,"tagName":"p"},{"type":"text","content":"Key Financial Highlights","length":24,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue increased by 123.2%, reaching $2,501,660 for the year ended December 31, 2024, compared to $1,120,622 for the same period in 2023.","length":138,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":138,"olType":false},{"type":"text","content":"Operating expenses for 2024 were high for LQR House due to the implementation of retention and severance packages. These measures were introduced as part of a broader corporate restructuring effort initiated in collaboration with activist investor David Lazar and the appointment of a newly structured board of directors. These short-term expenses were viewed as strategic investments, positioning the Company to pursue its long-term growth objectives and profitability. LQR House believes these actions will lead to more meaningful growth and operational efficiency in 2025 with the goal of being EBIDA positive in 2025.","length":621,"tagName":"p"},{"type":"text","content":"Sean Dollinger, CEO of LQR House, commented "2024 was a transformative year for LQR House-marked by significant growth and a number of challenges. We took critical steps to position the Company for long-term success, including restructuring the team, discontinuing high-cost verticals, and bringing on new board members who are focused on disciplined cost management and expanding our presence internationally. As reflected in our monthly press releases, w...