Upexi, Inc. Q2 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Upexi Inc. Fiscal Q2 2023 Earnings Summary

  • Quarter Ending: December 31, 2022
  • Revenue: $27.1 million — up 444% YoY from $4.9 million; up 134% QoQ from $11.6 million
  • Gross Profit: $10.3 million — up 141% YoY from $4.3 million
  • Operating Expenses: $12.5 million — up 83% YoY from $6.8 million
  • Net Loss from Operations: $2.1 million — a 16% improvement from $2.5 million loss YoY
  • Adjusted EBITDA: $119,000 — improved from $971,000 loss in prior quarter (Q1 FY23)
  • Cash on Hand: $4.5 million
  • Stockholders' Equity: $36.9 million
  • Shares Outstanding: 17,960,748 as of Feb 14, 2023

Key Business Developments

  • Closed three acquisitions in 2022:
    • Cygnet Online (Amazon-focused aggregator in health, wellness, and beauty)
    • LuckyTail (Pet product brand with YoY double-digit growth)
    • E-Core (Includes Tytan Tiles and New England Technology with $40M trailing 12-month revenue)
  • Divested Infusionz (CBD business) representing $20M of FY22 revenue

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Operator: Greetings and welcome to the Upexi, Inc. 2023 Fiscal Second Quarter Earnings Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce to your host, Valter Pinto, Managing Director at KCSA Strategic Communications. Thank you. You may begin. Valter Pinto : Thank you, operator. Good evening and welcome everyone to Upexi 2023 fiscal second quarter financial results conference call. I'm joined today by Allan Marshall, Chief Executive Officer and Andrew Norstrud, Chief Financial Officer. Before we begin, I'm going to remind everyone that statements made during today's conference call may be deemed forward-looking statements within the meaning of the Safe Harbor of the Private Securities Litigation Reform Act of 1995, and actual results may differ materially due to a variety of risks, uncertainties and other factors. For a detailed discussion of some of the ongoing risks and uncertainties in the company's business, I refer you to the press release issued this evening and filed with the SEC on Form 8-K as well as the company's reports filed periodically with the SEC. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law

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