Omaha, NE, July 09, 2024 (GLOBE NEWSWIRE) -- CleanCore Solutions, Inc. (NYSE American: ZONE) ("CleanCore" or the "Company"), developer of patented technology that works as a safe and low-cost replacement for traditional cleaning chemicals, today reported preliminary selected unaudited financial results for the 2024 fiscal year ended June 30, 2024, and provided a business update.
"We are proud to report that we project strong growth for our fourth quarter and 2024 fiscal year," commented Clayton Adams, Chief Executive Officer of CleanCore. "Specifically, revenue for the fourth quarter of fiscal 2024 is projected to have increased sequentially by over 125% compared to the third quarter of 2024 and over 50% when compared to the fourth quarter of last year, demonstrating the successful execution of our growth strategy. In particular, we have refocused our efforts on direct sales while implementing a recurring revenue model that has been very well received by customers. As a result, we believe that our strategy will allow us to continue to increase our revenue and accelerate our path to profitability. Additionally, we project our gross margin increased both sequentially and year-over-year reflecting the higher margins of our direct sales model and our continued manufacturing efficiencies that were recently implemented. Importantly, we saw a significant improvement in our operating margins, and based on our current trajectory, believe we are on a solid path toward generating meaningful cash flow."
"We are rapidly gaining traction in the market, as evidenced by the growth in our sales pipeline, as customers seek environmentally friendly products that also positively impact their bottom line. Notably, many of our large Fortune 100 clients are coming out of pilot programs with exceptional results and we expect these customers will be an additional growth driver in the months ahead. Overall, we believe that companies across multiple industries are beginning to embrace our chemical-free approach and the associated cost savings. As a result, we are highly encouraged by the outlook for the business. We look forward to formally reporting our financial results for the fiscal year ended June 30, 2024, and hosting a concurrent investor conference call to provide additional updates."
About CleanCore Solutions
CleanCore Solutions, Inc. (NYSE American: ZONE) is dedicated to revolutionizing cleaning and disinfection practices by harnessing the power of its patented aqueous ozone technology. The Company's mission is to empower its customers with cost-effective, sustainable solutions that surpass traditional cleaning methods. Through innovation and commitment to excellence, CleanCore strives to create a healthier, greener future for generations to come.
For more information, please visit https://www.cleancoresol.com/.
Forward Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on the management's beliefs, assumptions, and expectations of CleanCore's future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although CleanCore believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. CleanCore does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. Forward-looking statements are subject to a number of factors, risks, and uncertainties, some of which are not currently known to us, that may cause CleanCore's actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in "Risk Factors" included in our filings with the SEC.
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