TAMPA, FL / ACCESSWIRE / November 14, 2023 / Upexi inc. (NASDAQ: UPXI) (the “Company” or “Upexi”), multi-faceted Amazon and Direct-to-Consumer brand owner and aggregation innovator, today announced its preliminary, unaudited financial results for the first quarter of fiscal 2024 ended September 30, 2023.
Based on a preliminary, unaudited review, the Company expects:
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Revenue of approximately $27.3 million, an increase of 136% year-over-year and 53.2% sequentially, and above the company’s guidance revenue range. previous issue of 26 to 27 million dollars.
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Adjusted EBITDA of approximately $700,000, compared to an adjusted EBITDA loss of approximately $525,000, an improvement of approximately $1.2 million year over year.
Management has rescheduled its conference call to Monday, November 20, 2023 at 4:30 p.m. ET, to discuss its financial results for the first quarter of fiscal 2024 and provide an update on its operations.
Financial Results Conference Call
For those who are unable to join the conference call, a replay of the call will be available until December 4, 2023 and can be accessed by dialing 1-844-512-2921 (toll-free in the United States) or 1- 412-317-. 6671 (International) and entering the proofreading PIN: 10183924. Additional details are available in the Investor Relations section of the Company’s website: https://upexi.com/investors.
About Upexi, Inc.
Upexi is a multi-faceted brand owner with established brands in health, wellness, pet, beauty and other growing markets. We operate in emerging, high-growth sectors and seek to drive organic growth of our current brands. We focus on direct-to-consumer and Amazon brands that are scalable and have anticipated high growth trends in the industry. Our goal is to continue to accumulate consumer data and build a significant customer database across all industries in which we sell. The growth of our current database has been key to year-over-year sales and profit gains. To drive our growth, we have acquired profitable Amazon and e-commerce businesses that can scale quickly and reduce costs through corporate synergies and will pursue opportunities in the future.
Forward-looking statements
This press release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are prospective. forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in the forward-looking statements due to numerous factors. These factors include, among other things, inherent uncertainties associated with business strategy, potential acquisitions, revenue forecasts, product development, integration and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this press release, and we undertake no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. . Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should review all information presented herein and should also refer to the risk factor disclosure described in our Annual Report on Form 10-K and other periodic reports filed from time to time with the Securities and Exchange Commission. and Exchange Commission.
Use of non-GAAP financial measures
The Company discloses and uses the non-GAAP financial measures mentioned above internally as a supplement to GAAP financial information to evaluate its operational performance, for financial planning purposes, to establish operational objectives, for compensation plans, to measure debt service capacity, for capital. planning expenses and determining working capital requirements and believes these are useful financial measures also used by investors. Non-GAAP adjusted EBITDA is defined as GAAP net income or loss before interest, taxes, depreciation, and amortization (EBITDA) adjusted for non-cash stock-based compensation and stock option expense. shares, acquisition, integration and restructuring costs, expenses and gains or losses. the extinction of debts and other non-monetary elements. Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA are not terms defined by GAAP and, therefore, the measurement of the Company’s Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA could not be comparable to similarly titled measures used by other companies. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial condition or cash flows that excludes or includes amounts not normally included in the measure most directly. comparable calculated and presented in accordance with GAAP. However, the non-GAAP financial measures discussed above should be considered in addition to, and not as a substitute for, or superior to the net income or loss presented under GAAP in the consolidated statements of operations, cash flow and financial statements. cash flows from the consolidated financial statements. Consolidated statement of cash flows or other measures of financial performance prepared in accordance with GAAP and as reflected in the Company’s financial statements prepared in accordance with GAAP. These non-GAAP financial measures are not a substitute for or presented in place of financial measures provided by GAAP and all financial measures and information provided in accordance with GAAP should be read to obtain a complete and thorough understanding of the Company’s financial results. . Reconciliations of non-GAAP EBITDA and non-GAAP adjusted EBITDA to GAAP operating income (loss) and/or GAAP net income (loss) discussed in the highlights or elsewhere are provided in the annexes which form part of this document.
Contact the company
Andrew Norstrud, Chief Financial Officer
E-mail: andrew.norstrud@upexi.com
Telephone: (702) 332-5591
Investor Relations Contact
KCSA Strategic Communications
Valter Pinto or Jack Perkins
E-mail: Upexi@KCSA.com
Telephone: (212) 896-1254
SOURCE: Upexi, Inc.
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