Starco Brands Reports Third Quarter 2024 Financial Results

Starco Brands, Inc. recently released its financial results for the third quarter ending September 30, 2024. The company announced its earnings through a press release and conducted an Earnings Call on November 14, 2024, at 1:30 pm (PT). The information disclosed in the press release is provided in Exhibit 99.1 of the company’s Form 8-K filing.

The reported financial results, which include an overview of the company’s performance during the quarter, are essential for stakeholders and investors to understand the company’s progress. However, it is noted that this information, including Exhibit 99.1, is not considered “filed” under the Securities Exchange Act of 1934 or incorporated by reference into any regulatory filings unless specifically stated.

In addition to the financial results, the Form 8-K also includes details of the company’s management and shareholder information, as well as various exhibits such as the press release, the earnings call transcript (Exhibit 99.2), and an interactive data file in XBRL format.

The company discussed its strategic plans for growth, focusing on operational improvements, enhanced distribution networks, and new product launches. Furthermore, it outlined its achievements in various market segments, including the performance of brands like Whipshots, Winona Popcorn Spray, Art of Sport, Skylar Beauty, and Soylent.

Regarding financials, Starco Brands reported a net revenue of $15.5 million for the third quarter of 2024, a decrease from $17.7 million in the same period in 2023. Gross profit for the same quarter was $6.4 million compared to $7.7 million in 2023. The company’s net income for the quarter was negatively impacted by a non-cash charge for fair value share adjustment.

Starco Brands highlighted its focus on managing operating expenses, reducing marketing spend inefficiencies, and optimizing logistics operations to enhance profitability. The company also emphasized its commitment to integrating recent acquisitions effectively and driving long-term shareholder value through disciplined capital allocation.

Looking ahead to 2025, Starco Brands expressed confidence in its growth prospects, underpinned by a solid product innovation pipeline, strong market fundamentals, and data-driven expansion strategies. The company is poised to capitalize on market opportunities and deepen its presence in key consumer markets in the upcoming year.

No detailed questions were fielded during the Earnings Call, and the session concluded with closing remarks from Ross Sklar, Starco Brands’ Chief Executive Officer and Interim Chief Financial Officer.

For more detailed financial information and insights, stakeholders are encouraged to refer to the complete Form 8-K filing on the Securities and Exchange Commission’s website or the company’s official investor relations webpage.

Please note that all information provided above is based solely on the contents of the Form 8-K SEC filing by Starco Brands, Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Starco Brands’s 8K filing here.

Starco Brands Company Profile

Starco Brands, Inc markets consumer products through retail and online in the United States. It offers products in various categories, including household cleaning, DIY/Hardware, paints, coatings and adhesives, household, hair care, disinfectants, automotive, motorcycle, arts and crafts, personal care cosmetics, personal care FDA, sun care, food, cooking oils, beverages, and spirits and wine under the Winona, Whipshots, Skylar, Soylent, and Art of Sport brands.