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CE Brands Reports First Quarter 2025 Financial Results, Provides Operational Highlights, and Announces Notice of Meeting & Record Date
(TheNewswire) Calgary, Alberta, Canada – Augus t 22 nd , 202...
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[{"type":"text","content":"CE Brands Reports First Quarter 2025 Financial Results, Provides Operational Highlights, and Announces Notice of Meeting & Record Date\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Calgary, Alberta, Canada\n–\n \n\n Augus\n \n\n t 22\n \n\n nd\n \n\n ,\n \n\n 2024\n \n\n –\n \n\n TheNewswire –\n \n\n CE Brands Inc. (TSXV:\nCEBI) (“\n \n\n CE\nBrands\n \n\n ”, “\n \n\n we\n \n\n ”,\n“\n \n\n our\n \n\n ”, or the “\n \n\n Company\n \n\n ”), a data-driven\nconsumer-electronics company, today announced its financial results\nfor the three months ended June 30, 2024 (“\n \n\n Q1 2025\n \n\n ”). The\nrelated financial statements and accompanying notes,\n \n\n and Management’s Discussion and Analysis for Q1 2025\n \n\n (“\n \n\n MD&A\n \n\n ”)\n \n\n are\navailable\n \n\n on SEDAR+ at\n \n\n www.sedarplus.ca\n \n\n and on the CE\nBrands’ website at\n \n\n www.cebrands.ca\n \n\n .\n \n\n\n\n All dollar amounts in this press release are expressed\nin the Canadian dollars.\n \n\n\n\n FIRST QUARTER 2025 FINANCIAL\nRESULTS:\n \n\n\n\n Q1\n \n\n 2025 Highlights\n \n\n\n\n\n\n Operating cash flows were approximately $nil, or break\neven, for the three months ended June 30, 2024, an improvement of\n$0.66 million over the comparative period. The improvement was on\naccount of reduced overheads and favourable changes in working\ncapital, specifically the conversion of accounts receivable into\ncash.\n \n\n\n\n\n\n\n\n Revenue increased by $0.12 million, reflecting an\nincrease of 10% in the three month period ended June 30, 2024 as\ncompared to the corresponding period in the prior year. The increase\ncan be attributed to the increased business to business (“B2B”)\nsales of Moto 70 and Moto 40 in the first fiscal quarter of\n2025.\n \n\n\n\n\n\n\n\n The gross profit for the three months ended June 30,\n2024 was $0.51 million as compared to $0.54 million for the three\nmonth period ended June 30, 2023. The higher gross profit in Q1 2024\nwas primarily due to the sale of inventory items previously written\noff in fiscal 2023.\n \n\n\n\n\n\n\n\n There was a net loss of approximately $0.54 million for\nthe three month period ended June 30, 2024, which represents a\ndecreas...