Lendway, Inc. Announces Second Quarter 2024 Financial Results
Lendway, Inc. Announces Second Quarter 2024 Financial Results
MINNEAPOLIS, MN / ACCESSWIRE / August 19, 2024 / Lendway, Inc. (NASDAQ:LDWY) ("Lendway" or the "Company") today announced significant improvement in its financial results for the second quarter ended June 30, 2024 ("Q2").
明尼阿波利斯,MN/ACCESSWIRE/2024年8月19日/Lendway公司(纳斯达克股票代码:LDWY)(以下简称“公司”)今天宣布,公司2024年第二季度截至6月30日的财务业绩有了显着改善(以下简称“Q2”)。
Overview
概述
Second quarter fiscal year 2024
2024年度第二季度
Net revenue was $16.8 million.
Gross profit was $4.0 million or 23.7% of sales.
Operating loss of $0.1 million compared to an operating loss of $0.6 million in Q2 2023.
Net loss from continuing operations was $0.9 million compared to a loss of $0.4 million in Q2 2023.
Net loss attributable to Lendway was $0.7 million, or a loss of $0.42 per basic and diluted share, compared to a net loss of $0.04 million, or a loss of $0.02 per basic and diluted share in Q2 2023.
Adjusted EBITDA was $1.8 million compared to a loss of $0.5 million in Q2 2023.
At June 30, 2024, cash and cash equivalents and restricted cash were $1.7 million and working capital was $6.1 million.
Cash generated from operations was $3.5 million compared to a cash generation of $0.8 million in Q2 2023.
净营业收入为1680万美元。
毛利润为400万美元,占销售额的23.7%。
营运亏损10万美元,而Q2 2023年的营运亏损为60万美元。
持续经营的净亏损为90万美元,而Q2 2023年的亏损为40万美元。
归属于Lendway的净亏损为70万美元,每股基本和稀释亏损0.42美元,而Q2 2023年的归属于Lendway的净亏损为4万美元,每股基本和稀释亏损0.02美元。
调整后的EBITDA为180万美元,而Q2 2023年的亏损为50万美元。
截至2024年6月30日,现金及现金等价物及受限制现金为170万美元,营运资本为610万美元。
现金流从运营活动中产生了350万美元,而Q2 2023年的现金流为80万美元。
First half fiscal year 2024
2024年度上半年
Net revenue was $24.8 million.
Gross profit was $5.9 million or 23.7% of sales.
Operating loss of $1.6 million compared to $1.2 million in Q2 2023.
Net loss from continuing operations was $2.2 million compared to a loss of $1.0 million in the first half of 2023.
Net loss attributable to Lendway was $1.8 million, or a loss of $1.01 per basic and diluted share, compared to net income of $1.6 million, or $0.90 per basic and $0.89 per diluted share in the first half of 2023.
Adjusted EBITDA was $3.5 million compared to a loss of $1.2 million in Q2 2023
Cash generated from operations was $5.0 million compared to a cash use of $3.0 million in first half of 2023.
净营业收入为2480万美元。
毛利润为590万美元,占销售额的23.7%。
营运亏损为160万美元,而Q2 2023年的亏损为120万美元。
持续经营的净亏损为220万美元,而2023年上半年为净亏损100万美元。
归属于Lendway的净亏损为180万美元,每股基本和稀释亏损1.01美元,而2023年上半年的净收入为160万美元,每股基本收益0.90美元,每股稀释收益0.89美元。
调整后的EBITDA为350万美元,而Q2 2023年的亏损为120万美元。
现金流从运营活动中产生了500万美元,而2023年上半年的现金流为300万美元。
Lendway's Co-Chief Executive Officer, Mark Jundt commented, "The business had a strong second quarter due to our acquisition of Bloomia. We are very pleased with the revenue, margin and adjusted EBITDA produced in the quarter and the first half of the year. Due to the seasonality of the business, the second half of the year will be a time of investment that we are confident will result in even better results next fiscal year. There are many opportunities for growth in the market which makes it an exciting time to be in this business." Lendway's Co-Chief Executive Officer, Dan Philp, further commented, "Lendway invested in Bloomia as it was an excellent fit with our strategy to create long-term shareholder value through investments in high growth potential ag companies. Bloomia's highly talented and motivated team are proving why the Company is the industry-leader in the US with so much growth potential."
Lendway的共同首席执行官Mark Jundt评论道:“由于我们收购了Bloomia,公司在第二季度表现强劲。我们对本季度和上半年产生的收入、利润和调整后的EBITDA非常满意。由于业务的季节性,下半年将是我们进行投资的时间,在下一个财年我们有信心会取得更好的业绩。市场上有很多增长机会,使我们处于一个令人兴奋的时期。”Lendway的共同首席执行官Dan Philp进一步评论道:“Lendway投资Bloomia,因为它与我们的策略非常契合,通过投资于高增长潜力的农业公司来创造长期的股东价值。Bloomia的高素质、高动力团队,正在证明公司是美国行业领先者,具有巨大的增长潜力。”
Q2 2024 Results
2024年第二季度业绩
Revenue
营业收入
Revenue was $16.8 million in Q2 2024, with no revenue from continuing operations in Q2 2023. All revenue was from Bloomia, which we acquired in February 2024. For Bloomia, the first and second calendar quarters are normally the strongest sales quarters, with the first calendar quarter benefiting from Valentine's Day, Easter season and the start of the Spring season.
营业收入为1680万美元,而Q2 2023年无持续营业收入。所有收入都来自Bloomia,而Bloomia的首个和第二个日历季度通常是销售最强的季度,第一个日历季度受到情人节、复活节季节和春季的好处。
Revenue for the first half of the year was $24.8 million compared to no revenue in fiscal year 2023. Due to the seasonality of Bloomia business, revenue is expected to decline in the second half of the year.
上半年收入为2480万美元,而2023财年则没有收入。由于Bloomia业务的季节性,下半年预计收入会下降。
Gross profit
毛利润
Gross profit in Q2 2024 was $4.0 million or 23.7% of sales with no comparable measure in the prior period. Excluding the non-cash inventory write-up adjustment, gross profit was 24.7% of sales. We anticipate seasonality in sales, with those sales and related gross profit expected to be relatively stronger in the first and second quarters of the year.
2024年第二季度毛利润为400万美元,占销售额的23.7%,而去年同期没有可比数据。扣除虚拟库存调整,毛利润占比更高达24.7%。我们预计销售具有季节性,销售额和相应的毛利润预计在本财年的第一季度和第二季度相对更强。
Gross profit in the first half of 2024 was $5.9 million or 23.7% of sales with no comparable measure in the prior period. Excluding the non-cash inventory write-up adjustment, gross profit was 30.0% of sales. We anticipate seasonality in sales, with those sales and related gross profit expected to be relatively stronger in the first and second quarters of the year.
上半年毛利润为590万美元,占销售额的23.7%,而去年同期没有可比数据。扣除虚拟库存调整,毛利润占比更高达30.0%。我们预计销售具有季节性,销售额和相应的毛利润预计在本财年的第一季度和第二季度相对更强。
Operating income (loss)
业务利润(亏损)
The Company had an operating loss of $0.1 million in the three months ended June 30, 2024, compared to an operating loss of $0.6 million in Q2 2023. The improvement relates to the seasonal operating profit associated with the acquisition of Bloomia partially offset by $1.0 million in interest expense and $0.7 million of one-time acquisition and integration costs related to the acquisition itself.
公司在截至2024年6月30日的第二季度实现运营亏损10万美元,而去年同期为60万美元。改善归因于收购Bloomia部分季节性营业利润,部分抵消了100万美元的利息支出和70万美元的一次性收购和整合成本。
Operating loss in the first half of 2024 was $1.6 million compared to $1.2 million in Q2 2023. The operating loss includes $2.2 million of one-time acquisition and integration costs partially offset by the seasonal operating income of Bloomia, which the Company acquired in February 2024.
上半年运营亏损为160万美元,而去年同期为120万美元。运营亏损包括220万美元的一次性收购和整合成本,部分抵消了Bloomia的季节性营业收入。公司于2024年2月收购了Bloomia。
Net loss from continuing operations
持续经营的净亏损
Net loss from continuing operations was $0.9 million in the three months ended June 30, 2024 compared to a loss of $0.4 million in the three months ended June 30, 2023. The increase in the loss was primarily due to the increase in interest expense related to the acquisition of Bloomia, partially offset by the improvement in operating loss.
截至2024年6月30日的三个月内,持续经营部分的净损失为90万美元,而去年同期为40万美元。损失的增加主要是由于与Bloomia收购相关的利息支出的增加,部分抵消了运营亏损的改善。
In the six months ended June 30, 2024 net loss from continuing operations was $2.2 million compared to a loss of $1.0 million in the six months ended June 30, 2023. The increase in the loss was primarily due to the increase in interest expense and acquisition costs related to the acquisition of Bloomia, partially offset by the seasonal operating income of Bloomia.
截至2024年6月30日的六个月内,持续经营部分的净损失为220万美元,而去年同期为100万美元。损失的增加主要是由于与Bloomia收购相关的利息支出和收购成本的增加,部分抵消了Bloomia的季节性营业收入。
Net loss attributable to Lendway
归属于Lendway的净损失
Net loss attributable to Lendway for Q2 2024 was $0.7 million, or a loss of $0.42 per basic and diluted share, compared to a net loss of $0.04 million, or a loss of $0.02 per basic and diluted share, in Q2 2023. The net loss includes $0.7 million of one-time acquisition and integration costs related to the acquisition itself.
2024年第二季度,归属于Lendway的净损失为70万美元,或基本和摊薄每股0.42美元的亏损,而去年同期为4万美元,或基本和摊薄每股0.02美元的亏损。净损失包括与收购本身相关的70万美元的一次性收购和整合成本。
Net loss attributable to Lendway for the first half of 2024 was $1.8 million, or a loss of $1.01 per basic and diluted share, compared to a net income of $1.6 million, or a $0.90 per basic and $0.89 per diluted share, in the first half of 2023. The net loss in 2024 includes $2.2 million of one-time acquisition and integration costs, partially offset by the income from the Bloomia acquisition. In the first half of 2023, the Company had income from its discontinued business, which it sold in August 2023.
2024年上半年归属于Lendway的净损失为180万美元,或基本和摊薄每股1.01美元的亏损,而2014年上半年为净收入160万美元,或基本和摊薄每股分别为0.90美元和0.89美元。2024年的净损失包括220万美元的一次性收购和整合成本,部分抵消了Bloomia收购的收入。在2013年上半年,公司在停止经营的业务上有收入,该业务于2013年8月出售。
As discussed above, we anticipate seasonality in sales - with those sales and related gross profit expected to be relatively stronger in the first and second quarters of the year - resulting in expected losses in the remaining quarters of 2024 and a loss for the full year because of one-time acquisition costs and non-cash amortization expense.
如上所述,我们预计销售具有季节性 - 让销售额和相关毛利润在本财年的第一季度和第二季度相对更强 - 所以剩余季度预计会出现亏损,因为存在一次性收购成本和非现金摊销费用。
Adjusted EBITDA
调整后的EBITDA
In Q2 2024, adjusted EBITDA, which excludes one-time acquisition and integration costs as well as other one-time charges, was $1.8 million, compared to a loss of $0.5 million in Q2 2023. The increase is a result of the Bloomia acquisition, which produces its strongest profit in the spring.
2024年第二季度调整后的EBITDA(排除一次性收购和整合成本以及其他一次性费用)为180万美元,而去年同期为50万美元。增加的原因是Bloomia收购,该收购使其春季利润最高。
In the first half of 2024, Adjusted EBITDA was $3.5 million compared to a loss of $1.2 million.
2024年上半年调整后的EBITDA为350万美元,而去年同期为亏损120万美元。
Bloomia Adjusted EBITDA
Bloomia的调整后EBITDA
Bloomia has earned $4.7 million of Adjusted EBITDA since acquisition. As discussed above, the Bloomia business has its strongest sales and earnings in the first two quarters of the year.
自收购以来,Bloomia实现了470万美元的调整后EBITDA。如上所述,Bloomia业务在一年中的前两个季度销售额和盈利能力最强。
Balance Sheet
资产负债表:
As of June 30, 2024, cash and cash equivalents totaled $1.7 million, compared to $16.1 million as of December 31, 2023. The decrease being attributed to Lendway funding the purchase of Bloomia with $9.2 million of cash. Working capital (current assets less current liabilities) was $6.1 million at June 30, 2024, compared to $15.5 million at December 31, 2023.
截至2024年6月30日,现金及现金等价物总额为170万美元,而截至2023年12月31日为1610万美元。其降低归因于Lendway用920万美元的现金资助收购Bloomia。截至2024年6月30日,运营资本(流动资产减流动负债)为610万美元,而截至2023年12月31日为1550万美元。
About Lendway, Inc.
关于Lendway, Inc.
Lendway, Inc (NASDAQ:LDWY) is a specialty ag company focused on making, and managing, its ag investments in the U.S. and internationally. The Company is the majority owner of Bloomia, one of the largest producers of fresh cut tulips in the United States. For additional information, contact (800) 874-4648, or visit our website at . Investor inquiries can be submitted to info@lendway.com.
Lendway, Inc(NASDAQ:LDWY)是一家专注于在美国和国际上进行农业投资的专业农业公司。公司是Bloomia的大股东之一,Bloomia是美国最大的凤仙花鲜切花生产商之一。欲了解更多信息,请联系(800)874-4648或访问我们的网站。投资者询问可提交至info@lendway.com。
Cautionary Statement Regarding Forward-Looking Statements
关于前瞻性声明的警示声明
Statements in this press release that are not statements of historical or current facts are considered forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The words "anticipate," "continue," "ensure," "expect," "plan," "remain," "seek," "will" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these or any forward-looking statements, which speak only as of the date of this press release. Statements made in this press release regarding, for instance, the short- and long-term benefits of the Bloomia acquisition, potential growth, allocations of capital resources among our businesses, and timing of future financial reporting, are forward-looking statements. These forward-looking statements are based on current information, which we have assessed and which by its nature is dynamic and subject to rapid and even abrupt changes. Factors that could cause our estimates and assumptions as to future performance, and our actual results, to differ materially include the following: (1) our ability to integrate and continue to successfully operate the newly acquired Bloomia business, (2) our ability to compete, (3) concentration of Bloomia's historical revenue among a small number of customers, (4) changes in interest rates, (5) ability to comply with the requirements of the Credit Agreement, (6) market conditions that may restrict or delay appropriate or desirable opportunities, (7) our ability to develop and maintain necessary processes and controls relating to our businesses (8) reliance on one or a small number of employees in each of our businesses, (9) potential adverse classifications of our Company if we are unsuccessful in executing our business plans, (10) other economic, business, market, financial, competitive and/or regulatory factors affecting the Company's businesses generally; (11) our ability to attract and retain highly qualified managerial, operational and sales personnel; and (12) the availability of additional capital on desirable terms, if at all. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including those set forth in our Annual Report on Form 10-K for the year ended December 31, 2023 and additional risks, identified in this and subsequent Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K filed with the SEC. Such forward-looking statements should be read in conjunction with Lendway's filings with the SEC. Lendway assumes no responsibility to update the forward-looking statements contained in this press release or the reasons why actual results would differ from those anticipated in any such forward-looking statement, other than as required by law.
本新闻稿中的非历史或现状事实陈述被视为符合1995年修订版《证券诉讼改革法案》的安全港规定的前瞻性陈述。"预计","继续"、"确保"、"期望"、"计划"、"保持"、"寻求"、"将"等类似表述识别出前瞻性陈述。读者被告知不要将这些或任何前瞻性陈述作为对本新闻稿日期后事项的估计和假设,这些事项具有动态性质,而且可能会发生快速甚至突然的变化。可能导致我们未来业绩的估计和假设以及实际结果存在差别的因素包括:(1)我们整合并继续成功运营新收购的Bloomia业务的能力,(2)我们的竞争力,(3)Bloomia历史收入集中在少数客户之间,(4)利率的变化,(5)满足信贷协议要求的能力,(6)可能限制或推迟适当或理想的机会的市场条件,(7)我们开发和维护与我们的业务相关的必要流程和控制的能力;(8)我们在每个业务中仅依赖一个或少数几个员工,(9)如果我们未能执行我们的业务计划,则我们公司可能出现不利的分类,(10)影响公司业务总体的其他经济、商业、市场、金融、竞争和/或监管因素;(11)我们吸引和保留高素质的管理、运营和销售人员的能力;以及(12)如果有的话,以可行的条件或不提供额外资本的情况下,其他资本的可用性。前瞻性陈述涉及已知和未知的风险、不确定性和其他因素,包括我们审查过的 Current Reports on Form 8K、Annual Report on Form 10K,和在本新闻稿以及之后的 Quarterly Reports on Form 10Q 和 Current Reports on Form 8K 中识别出来的其他风险。此类前瞻性陈述应与Lendway提交给证券交易委员会的申报文件一起阅读。Lendway不承担更新本新闻稿中的前瞻性陈述或解释其实际结果与预期有何不同的责任,除非法律要求这样做。
Results of Operations
经营结果
Lendway, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(Unaudited)
Lendway, Inc.及其子公司
综合收益及损失的压缩综合报表(以千为单位)
(未经审计)
Three Months Ended |
Six Months Ended |
|||||||||||||||
June 30 |
June 30 |
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
Revenue, net |
$ |
16,780,000 |
$ |
- |
$ |
24,813,000 |
$ |
- |
||||||||
Cost of goods sold |
12,803,000 |
- |
18,942,000 |
- |
||||||||||||
Gross profit |
3,977,000 |
- |
5,871,000 |
- |
||||||||||||
Sales, general and administrative expenses |
4,095,000 |
557,000 |
7,483,000 |
1,185,000 |
||||||||||||
Operating income (loss) |
(118,000) | (557,000) | (1,612,000) | (1,185,000) | ||||||||||||
Foreign exchange difference, net |
9,000 |
- |
(36,000) | - |
||||||||||||
Interest expense (income), net |
964,000 |
(135,000) | 1,189,000 |
(238,000) | ||||||||||||
Other expenses, net |
(9,000) | - |
- |
- |
||||||||||||
Loss from continuing operations before income taxes |
(1,082,000) | (422,000) | (2,765,000) | (947,000) | ||||||||||||
Income tax (benefit) expense |
(201,000) | 4,000 |
(548,000) | 7,000 |
||||||||||||
Net loss from continuing operations |
(881,000) | (426,000) | (2,217,000) | (954,000) | ||||||||||||
Income from discontinued operations, net of tax |
64,000 |
390,000 |
136,000 |
2,566,000 |
||||||||||||
Net (loss) income including noncontrolling interest |
(817,000) | (36,000) | (2,081,000) | 1,612,000 |
||||||||||||
Less: Net (loss) income attributable to noncontrolling interest |
(72,000) | - |
(295,000) | - |
||||||||||||
Net (loss) income attributable to Lendway, Inc. |
(745,000) | (36,000) | (1,786,000) | 1,612,000 |
||||||||||||
Net (loss) income including noncontrolling interest |
(817,000) | (36,000) | (2,081,000) | 1,612,000 |
||||||||||||
Other comprehensive income (foreign currency translation) |
43,000 |
- |
46,000 |
- |
||||||||||||
Comprehensive (loss) income including noncontrolling interest |
(702,000) | (36,000) | (1,740,000) | 1,612,000 |
||||||||||||
Less: Comprehensive (loss) income attributable to noncontrolling interest |
8,000 |
- |
9,000 |
- |
||||||||||||
Comprehensive (loss) income attributable to Lendway, Inc. |
$ |
(710,000) | $ |
(36,000) | $ |
(1,749,000) | $ |
1,612,000 |
||||||||
Net (loss) income per basic share attributable to Lendway, Inc.: |
||||||||||||||||
Continuing operations |
$ |
(0.46) | $ |
(0.24) | $ |
(1.09) | $ |
(0.53) | ||||||||
Discontinued operations |
0.04 |
0.22 |
0.08 |
1.43 |
||||||||||||
Basic earnings per share |
$ |
(0.42) | $ |
(0.02) | $ |
(1.01) | $ |
0.90 |
||||||||
Net (loss) income per diluted share attributable to Lendway, Inc.: |
||||||||||||||||
Continuing operations |
$ |
(0.46) | $ |
(0.24) | $ |
(1.09) | $ |
(0.53) | ||||||||
Discontinued operations |
0.04 |
0.22 |
0.08 |
1.42 |
||||||||||||
Diluted earnings per share |
$ |
(0.42) | $ |
(0.02) | $ |
(1.01) | $ |
0.89 |
||||||||
Shares used in calculation of net (loss) income per share: |
||||||||||||||||
Basic |
1,770,000 |
1,798,000 |
1,770,000 |
1,798,000 |
||||||||||||
Diluted |
1,770,000 |
1,798,000 |
1,770,000 |
1,802,000 |
三个月之内结束 |
销售额最高的六个月 |
|||||||||||||||
6月30日 |
6月30日 |
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
净营业收入 |
$ |
16,780,000 |
$ |
- |
$ |
24,813,000 |
$ |
- |
||||||||
营业成本 |
12,803,000 |
- |
18,942,000 |
- |
||||||||||||
毛利润 |
3,977,000 |
- |
5,871,000 |
- |
||||||||||||
销售、一般和管理费用 |
4,095,000 |
557,000 |
7,483,000 |
1,185,000 |
||||||||||||
业务利润(亏损) |
(118,000) | (557,000) | (1,612,000) | (1,185,000) | ||||||||||||
汇率期货差额净额 |
9000 |
- |
(36,000) | - |
||||||||||||
利息支出(收入),净额 |
964,000 |
(135,000) | 1,189,000 |
(238,000) | ||||||||||||
其他费用, 净额 |
(9,000) | - |
- |
- |
||||||||||||
持续经营活动的税前亏损 |
(1,082,000) | (422,000) | (2,765,000) | (947,000) | ||||||||||||
所得税(收益)费用 |
(201,000) | 4,000 |
(548,000) | 7,000 |
||||||||||||
持续经营的净亏损 |
(881,000) | (426,000) | (2,217,000) | (954,000) | ||||||||||||
来自终止经营的收入税后 |
64,000 |
390,000 |
136,000 |
2,566,000 |
||||||||||||
包括非控制权益的净损益 |
(817,000) | (36,000) | (2,081,000) | 1,612,000 |
||||||||||||
扣除:归属非控制股权股东的净(损)益 |
(72,000) | - |
(295,000) | - |
||||||||||||
归属于Lendway,Inc的净(亏)收益 |
(745,000) | (36,000) | (1,786,000) | 1,612,000 |
||||||||||||
包括非控制权益的净损益 |
(817,000) | (36,000) | (2,081,000) | 1,612,000 |
||||||||||||
其他全面收益(外币折算) |
43,000 |
- |
46,000 |
- |
||||||||||||
综合损益包括非控制利益 |
(702,000) | (36,000) | (1,740,000) | 1,612,000 |
||||||||||||
扣除归属于非控制利益的综合损益 |
8,000 |
- |
9000 |
- |
||||||||||||
归属于Lendway,Inc的综合(亏)收益 |
$ |
(710,000) | $ |
(36,000) | $ |
(1,749,000) | $ |
1,612,000 |
||||||||
Lendway,Inc.每股基本净(亏损)收益: |
||||||||||||||||
持续经营业务 |
$ |
(0.46) | $ |
(0.24) | $ |
(1.09) | $ |
(0.53) | ||||||||
已停业的业务 |
0.04。 |
0.22 |
0.08 |
1.43 |
||||||||||||
基本每股收益 |
$ |
(0.42) | $ |
(0.02) | $ |
(1.01) | $ |
0.90 |
||||||||
Lendway,Inc.每股摊薄净(亏损)收益: |
||||||||||||||||
持续经营业务 |
$ |
(0.46) | $ |
(0.24) | $ |
(1.09) | $ |
(0.53) | ||||||||
已停业的业务 |
0.04。 |
0.22 |
0.08 |
1.42 |
||||||||||||
摊薄每股收益 |
$ |
(0.42) | $ |
(0.02) | $ |
(1.01) | $ |
0.89 |
||||||||
计算每股净(亏)收益时使用的股份: |
||||||||||||||||
基本 |
1,770,000 |
1,798,000 |
1,770,000 |
1,798,000 |
||||||||||||
摊薄 |
1,770,000 |
1,798,000 |
1,770,000 |
1,802,000 |
See accompanying notes to the condensed consolidated financial statements.
请参见简明合并财务报表的附注。
(Unaudited) |
||||||||
June 30, |
December 31, |
|||||||
2024 |
2023 |
|||||||
Cash and cash equivalents |
$ |
1,721,000 |
$ |
16,077,000 |
||||
Working capital |
6,065,000 |
15,525,000 |
||||||
Total assets |
95,898,000 |
16,673,000 |
||||||
Total debt |
31,416,000 |
- |
||||||
Total liabilities |
79,397,000 |
1,141,000 |
||||||
Stockholders' equity |
16,501,000 |
15,532,000 |
(未经审计) |
||||||||
6月30日, |
12月31日 |
|||||||
2024 |
2023 |
|||||||
现金及现金等价物 |
$ |
1,721,000 |
$ |
16,077,000 |
||||
营运资本 |
6,065,000 |
15,525,000 |
||||||
总资产 |
95,898,000 |
16,673,000 |
||||||
总债务 |
31,416,000 |
- |
||||||
负债合计 |
79,397,000 |
1,141,000 |
||||||
股东权益 |
16,501,000 |
15,532,000 |
Working capital represents current assets less current liabilities.
营运资本代表了流动资产减去流动负债。
Non-GAAP Reconciliation
非美国通用会计原则调节
This press release includes adjusted EBITDA, which is a non-GAAP financial measure. Non-GAAP financial measures, which are not calculated or presented in accordance with U.S. generally accepted accounting principles ("GAAP"), have been provided as information supplemental and in addition to the financial measures presented in accordance with GAAP. Such non-GAAP financial measures are not substitutes for, or as an alternative to, and should be considered in conjunction with, respective GAAP financial measures. The non-GAAP financial measures presented may differ from similarly named measures used by other companies.
本新闻稿包括调整后的EBITDA,这是一个非GAAP财务指标。非GAAP财务指标并非按照美国通用会计准则(“GAAP”)计算或呈现的,已提供作为补充信息和在GAAP财务指标的基础上提供。此类非GAAP财务指标不能取代,或作为其替代方案,应与各自的GAAP财务指标一起考虑。所提供的非GAAP财务指标可能与其他公司使用的同名指标不同。
Included below are reconciliations of EBITDA and Adjusted EBITDA to net loss from continuing operations, the most directly comparable GAAP measure. We have included these non-GAAP performance measures as a comparable measure to eliminate the effects of non-recurring transactions that occurred during the three and six months ended June 30, 2024. We believe Adjusted EBITDA provides meaningful supplemental information about our operating performance as this measure excludes amounts from net loss from discontinued operations that we do not consider part of our core operating results when assessing our performance. Items excluded from Adjusted EBITDA consist of acquisition-related costs and other costs such as the cost of inventory that was stepped up to fair value as a result of the purchase accounting related to our acquisition of a majority interest in Bloomia. Adjusted EBITDA does not reflect our cash expenditures, the cash requirements for the replacement of depreciated and amortized assets, or changes in or cash requirements for our working capital needs.
下列是将EBITDA和调整后的EBITDA与持续经营性净亏损相协调的结果(直接可比GAAP措施)。我们将这些非GAAP绩效措施纳入为可比较衡量的措施,以消除在2024年6月30日结束的三个月和六个月期间发生的非重复性交易的影响。我们认为,调整后的EBITDA提供了关于我们运营业绩的有意义的补充信息,因为这一措施不包括我们不认为是我们核心运营业绩的持续性继续经营亏损的金额。从调整后的EBITDA中排除的项目包括与收购有关的成本以及其他成本,例如由于我们对Bloomia的多数股权收购与购买会计有关的公允价值而进行的库存成本。调整后的EBITDA不反映我们的现金支出,固定资产和无形资产折旧及摊销的现金需求,或者我们资金运营需求的变化。
The following table reconciles net loss from continuing operations and adjusted EBITDA for the three months ended June 30, 2024 and 2023:
下表显示了2024年6月30日和2023年同期持续经营性净亏损和调整后的EBITDA之间的关系:
Three Months Ended |
Six Months Ended |
|||||||||||||||
June 30 |
June 30 |
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
Net loss from continuing operations |
$ |
(881,000) | $ |
(426,000) | $ |
(2,217,000) | $ |
(954,000) | ||||||||
Interest (income) expense, net |
964,000 |
(135,000) | 1,189,000 |
(238,000) | ||||||||||||
Provision for income taxes |
(201,000) | 4,000 |
(548,000) | 7,000 |
||||||||||||
Depreciation and amortization |
808,000 |
12,000 |
1,108,000 |
26,000 |
||||||||||||
EBITDA |
690,000 |
(545,000) | (468,000) | (1,159,000) | ||||||||||||
Acquisition and integration related costs |
652,000 |
- |
2,194,000 |
- |
||||||||||||
Step-up inventory written off |
162,000 |
- |
1,522,000 |
- |
||||||||||||
One-time waste costs |
270,000 |
- |
270,000 |
- |
||||||||||||
Non-operating (income) loss |
- |
- |
(36,000) | - |
||||||||||||
Adjusted EBITDA |
$ |
1,774,000 |
$ |
(545,000) | $ |
3,482,000 |
$ |
(1,159,000) |
三个月之内结束 |
销售额最高的六个月 |
|||||||||||||||
6月30日 |
6月30日 |
|||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
持续经营的净亏损 |
$ |
(881,000) | $ |
(426,000) | $ |
(2,217,000) | $ |
(954,000) | ||||||||
息税前利润净额 |
964,000 |
(135,000) | 1,189,000 |
(238,000) | ||||||||||||
所得税费用 |
(201,000) | 4,000 |
(548,000) | 7,000 |
||||||||||||
折旧和摊销 |
808,000 |
12,000 |
1,108,000 |
26,000 |
||||||||||||
EBITDA |
690,000 |
(545,000) | (468,000) | (1,159,000) | ||||||||||||
收购和整合相关费用 |
652,000 |
- |
2,194,000 |
- |
||||||||||||
购买会计公允价值调整库存的减记 |
162,000 |
- |
1,522,000 |
- |
||||||||||||
一次性废物费用 |
270,000 |
- |
270,000 |
- |
||||||||||||
非营业额损失 |
- |
- |
(36,000) | - |
||||||||||||
调整后的EBITDA |
$ |
1,774,000 |
$ |
(545,000) | $ |
3,482,000 |
$ |
(1,159,000) |
Reconciliation of Bloomia Adjusted EBITDA to total Company Adjusted EBITDA. Manangement excludes Lendway corporate overhead when evaluatings its investment in Bloomia.
Bloomia调整后的EBITDA与公司总调整后的EBITDA的调节。在评估其对Bloomia的投资时,管理层排除Lendway公司的企业总部费用。
Acquisition to |
Six Months Ended |
|||||||||||
June 30, 2024 |
June 30, 2024 |
|||||||||||
Bloomia |
Lendway Overhead |
Total |
||||||||||
Loss from continuing operations before income taxes |
$ |
(1,650,000) | $ |
(1,115,000) | $ |
(2,765,000) | ||||||
Depreciation |
1,108,000 |
- |
1,108,000 |
|||||||||
Interest exp (income) |
1,315,000 |
(126,000) | 1,189,000 |
|||||||||
EBITDA |
773,000 |
(1,241,000) | (468,000) | |||||||||
Non-operating (income) loss |
(36,000) | - |
(36,000) | |||||||||
Acquisition and integration related costs |
2,194,000 |
- |
2,194,000 |
|||||||||
Step-up inventory write-off |
1,522,000 |
- |
1,522,000 |
|||||||||
One-time waste costs |
270,000 |
- |
270,000 |
|||||||||
Adjusted EBITDA |
$ |
4,723,000 |
$ |
(1,241,000) | $ |
3,482,000 |
收购 |
销售额最高的六个月 |
|||||||||||
2024年6月30日 |
2024年6月30日 |
|||||||||||
Bloomia |
Lendway企业总部费用 |
总费用 |
||||||||||
持续经营活动的税前亏损 |
$ |
(1,650,000) | $ |
(1,115,000) | $ |
(2,765,000) | ||||||
折旧费用 |
1,108,000 |
- |
1,108,000 |
|||||||||
利息支出(收入) |
1,315,000 |
(126,000) | 1,189,000 |
|||||||||
EBITDA |
773,000 |
(1,241,000) | (468,000) | |||||||||
非营业额损失 |
(36,000) | - |
(36,000) | |||||||||
收购和整合相关费用 |
2,194,000 |
- |
2,194,000 |
|||||||||
逐步清理库存导致的减值状态 |
1,522,000 |
- |
1,522,000 |
|||||||||
一次性废物费用 |
270,000 |
- |
270,000 |
|||||||||
调整后的EBITDA |
$ |
4,723,000 |
$ |
(1,241,000) | $ |
3,482,000 |
We believe these non-GAAP financial measures will be useful to permit investors to compare results with prior periods that did not include the one-time events and the resulting accounting charges. Management has used EBITDA and Adjusted EBITDA (a) to evaluate our historical and prospective financial performance and trends as well as our performance relative to competitors and peers; (b) to measure operational profitability on a consistent basis; (c) in presentations to the members of our Board of Directors; and (d) to evaluate compliance with covenants and restricted activities under the terms of our Credit Agreement.
我们认为这些非通用会计准则财务指标将有助于投资者比较不包括一次性事件和由此产生的会计费用的历史时期的结果。管理层使用EBITDA和调整后的EBITDA(a)评估我们的历史和预期的财务业绩和趋势,以及我们相对于竞争者和同行的表现; (b) 在一致的基础上衡量运营盈利能力; (c) 向我们的董事会成员介绍; (d) 评估我们信用协议条款下的契约和限制活动的遵守情况。
Contact:
联系方式:
Lendway, Inc.
Biz McShane, CFO
(763) 392-6200
Lendway, Inc.
首席财务官Biz McShane
(763) 392-6200
SOURCE: Lendway, Inc.
来源:Lendway, Inc.