STRAN & CO INC C/WTS (TO PUR COM) | 10-Q: FY2024 Q2 Revenue: USD 16.69 M

Revenue: As of FY2024 Q2, the actual value is USD 16.69 M.

EPS: As of FY2024 Q2, the actual value is USD -0.06.

Segment Revenue

• Total sales for the three months ended June 30, 2024, were $16.7 million, a decrease from $17.4 million in the same period in 2023.
• Total sales for the six months ended June 30, 2024, were $35.5 million, an increase from $33.4 million in the same period in 2023.

Operational Metrics

• Gross profit for the three months ended June 30, 2024, was $5.5 million, compared to $5.2 million in the same period in 2023.
• Gross profit for the six months ended June 30, 2024, was $11.1 million, compared to $10.7 million in the same period in 2023.
• Operating expenses for the three months ended June 30, 2024, were $6.6 million, compared to $6.2 million in the same period in 2023.
• Operating expenses for the six months ended June 30, 2024, were $12.9 million, compared to $12.2 million in the same period in 2023.
• Net loss for the three months ended June 30, 2024, was $1.0 million, compared to $0.9 million in the same period in 2023.
• Net loss for the six months ended June 30, 2024, was $1.5 million, compared to $1.4 million in the same period in 2023.

Cash Flow

• Net cash provided by operating activities for the six months ended June 30, 2024, was $4.2 million, compared to $3.7 million in the same period in 2023.
• Net cash provided by investing activities for the six months ended June 30, 2024, was $0.4 million, compared to net cash used in investing activities of $3.1 million in the same period in 2023.
• Net cash used in financing activities for the six months ended June 30, 2024, was $0.8 million, compared to $0.6 million in the same period in 2023.

Unique Metrics

• The company had approximately $46.6 million of total assets and $34.3 million of total stockholders’ equity as of June 30, 2024.

Future Outlook and Strategy

• The company plans to continue leveraging technology and efficient processes to enhance its market position and attract new customers.
• The company is focused on integrating recent acquisitions and expanding its product offerings to drive future growth.
• The company anticipates maintaining its effective tax rate similar to the rate recorded in 2023, based on management’s expectations of future earnings and recognition of a valuation allowance.