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 September 30, 2024. The company's total revenues increased significantly to $624,464, a 266% rise from the previous year's quarter, primarily due to product revenues from the CWS Platform post-acquisition in November 2023. However, the company experienced a gross loss of $62,051 compared to a gross profit of $7,619 in the same quarter of the previous year, as it transitions its strategy towards the CWS Platform. Operating expenses decreased by 36% to $3,441,910, with general and administrative expenses dropping by 68% to $1,522,785, and sales and marketing expenses increasing by 234% to $1,919,125. The net loss for the quarter was $3,363,380, a 39% improvement from the previous year's quarter. LQR House...Show More
