Fri, Jun 14, 8:02 PM (85 days ago)
American Rebel Holdings, Inc. reported a net loss of $2.7 million for Q1 2024, compared to a $227,055 loss in Q1 2023. Revenue decreased by 8% to $4 million, while cost of goods sold increased by 15%, leading to a gross margin decline from 37% to 21%. Operating expenses surged by 70% to $3.1 million, driven by higher consulting, payroll, and compensation costs. Interest expenses also rose significantly due to new high-interest debt. The company's working capital decreased from $4.6 million to $3 million. Despite these challenges, management is optimistic about achieving profitability through increased sales and cost-cutting measures.