Thu, Nov 14, 8:42 PM (19 days ago)
Tradewinds Universal (TWND) reported a challenging financial quarter ending September 30, 2024, with total sales of $28,068, down from $41,750 in the same period last year. The decline was attributed to reduced commission income and product sales. For the nine months, sales increased to $146,179 compared to $90,602, driven by new product launches, particularly protein bars. The company posted a net loss of $36,547 for Q3 2024, significantly higher than the $10,612 loss in Q3 2023, reflecting escalating operating expenses of $55,483, primarily due to increased professional and marketing fees. Gross profit fell to $18,936 from $28,727 year-over-year, influenced by higher costs associated with new product sales. Cash reserves dwindled to $3,903 from $28,213, raising liquidity concerns for future operations. The company has no current financing arrangements and may need to seek additional funding to support its growth strategy. Overall, while revenue growth for the nine months shows promise, the quarterly performance highlights significant operational challenges and increased financial strain.