Summary by Moomoo AI
Mangoceuticals, Inc. reported its financial performance for the quarter ended June 30, 2024. The company saw an increase in revenue to $163,163, up from $141,237 in the same quarter the previous year, marking a 15.5% rise. This growth was attributed to intensified digital marketing efforts and recurring customer subscriptions. Cost of revenues also rose slightly to $29,665, primarily due to third-party doctor network fees and product shipping costs. Gross profit for the quarter was $69,792, a decrease from the prior year's $87,130, largely due to higher shipping costs and promotional discounts to attract new customers. Operating expenses totaled $850,704, with general and administrative expenses contributing the most at $850,704, an increase from the previous year's $567,655. The company reported a net loss of $2,390,979, slightly higher than the previous...Show More