Summary by Moomoo AI
LQR House Inc., a Nevada-based company operating in the beverage alcohol industry, reported its financial performance for the quarter ended June 30, 2024. The company's revenue from services saw a significant decrease from $143,235 in the previous year to $39,980, while product revenue experienced a substantial increase from $47,787 to $517,937, largely due to revenues generated from the CWS Platform acquired in November 2023. The total revenue for the quarter was $557,917, a 192% increase from the same period last year. However, the cost of revenue for products rose dramatically to $641,084, resulting in a gross loss of $152,190. Operating expenses decreased by 41% to $2,122,202, with general and administrative expenses dropping to $1,357,395 and sales and marketing expenses increasing to $764,807. The net loss for the quarter improved by 38% to $2,209,293. LQR House...Show More
