Else Nutrition (BABY) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2024 was $4,753K, down from $5,286K year-over-year; net loss narrowed to $8,015K from $11,548K.

• Gross profit improved to $447K for the six months, up from $220K year-over-year.

• Total comprehensive loss for the period was $8,003K, compared to $10,987K in the prior year.

Financial highlights

• Cash and cash equivalents declined to $841K as of June 30, 2024, from $2,931K at December 31, 2023.

• Total assets decreased to $11,964K from $16,069K at year-end 2023.

• Total equity dropped to $1,607K from $6,721K at December 31, 2023.

• Net cash used in operating activities was $5,584K for the six months, compared to $12,498K in the prior year.

• Net loss per share was $(0.06) for the six months, improved from $(0.10) year-over-year.

Outlook and guidance

• The company’s ability to continue as a going concern depends on generating sales, securing collaborations, grants, or additional financing.

• Material uncertainty exists regarding the company’s ability to continue as a going concern.