Revenues Increased to $7.6 Million; Net Loss of $1.2 Million
Easton, PA, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Eightco Holdings Inc. (NASDAQ: OCTO) ("Eightco" or the "Company") today announced financial results for the three and six months ended June 30, 2025.
Second Quarter 2025 Financial Highlights
- Revenues of $7.6 million, compared to $5.3 million in the prior year quarter.
- Gross profit of $1.2 million, compared to $1.3 million in the prior year quarter.
- Operating loss of $1.2 million, compared to $0.9 million in the prior year quarter.
- Net loss of $1.2 million, or ($0.38) per share, compared to net income of $4.4 million, or $2.15 per diluted share, in the prior year quarter.
First Six Months of 2025
- Revenues of $17.5 million, compared to $13.2 million in the first half of 2024.
- Net loss of $3.7 million, compared to net income of $6.4 million in the first half of 2024.
| For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues, net | $ | 7,578,646 | $ | 5,283,593 | $ | 17,492,633 | $ | 13,242,290 | ||||||||
| Cost of revenues | 6,333,350 | 3,959,810 | 15,434,078 | 10,529,497 | ||||||||||||
| Gross profit | 1,245,296 | 1,323,783 | 2,058,555 | 2,712,793 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling, general and administrative expenses | 2,451,832 | 2,191,948 | 4,681,257 | 5,319,891 | ||||||||||||
| Restructuring and severance | - | - | - | 1,414,838 | ||||||||||||
| Total operating expenses | 2,451,832 | 2,191,948 | 4,681,257 | 6,734,729 | ||||||||||||
| Operating loss | (1,206,536 | ) | (868,165 | ) | (2,622,702 | ) | (4,021,936 | ) | ||||||||
| Non-operating income (expense): | ||||||||||||||||
| Interest income (expense), net | (1,276,726 | ) | (1,323,594 | ) | (2,565,530 | ) | (2,522,365 | ) | ||||||||
| Gain on divestiture | 1,231,774 | - | 1,231,774 | - | ||||||||||||
| Gain on forgiveness of earnout | - | - | - | 6,100,000 | ||||||||||||
| Gain on extinguishment of liabilities | - | 6,497,193 | - | 6,497,193 | ||||||||||||
| Other income | 81,969 | 28,137 | 103,867 | 54,814 | ||||||||||||
| Total non-operating income (expense) | 37,017 | 5,201,736 | (1,229,889 | ) | 10,129,642 | |||||||||||
| Net income (loss) before income tax expense | (1,169,519 | ) | 4,333,571 | (3,852,591 | ) | 6,107,706 | ||||||||||
| Income tax expense (benefit) | - | - | (28,793 | ) | - | |||||||||||
| Net income (loss) from continuing operations | $ | (1,169,519 | ) | $ | 4,333,571 | (3,823,798 | ) | 6,107,706 | ||||||||
| Net income from discontinued operations | - | 115,321 | 105,553 | 282,149 | ||||||||||||
| Net income (loss) | (1,169,519 | ) | $ | 4,448,892 | (3,718,245 | ) | 6,389,855 | |||||||||
| Net loss attributable to non-controlling interest | - | - | - | (12 | ) | |||||||||||
| Net income (loss) attributable to Eightco, Inc. | (1,169,519 | ) | 4,448,892 | (3,718,245 | ) | 6,389,867 | ||||||||||
About Eightco
Eightco (NASDAQ: OCTO) is committed to growth of its subsidiaries, made up of Forever 8, an inventory capital and management platform for e-commerce sellers, and Ferguson Containers, Inc., a provider of complete manufacturing and logistical solutions for product and packaging needs, through strategic management and investment. In addition, the Company is actively seeking new opportunities to add to its portfolio of technology solutions focused on the e-commerce ecosystem through strategic acquisitions. Through a combination of innovative strategies and focused execution, Eightco aims to create significant value and growth for its portfolio companies and stockholders.
For additional information, please visit www.8co.holdings
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical fact could be deemed forward looking. Words such as "plans," "expects," "will," "anticipates," "continue," "expand," "advance," "develop" "believes," "guidance," "target," "may," "remain," "project," "outlook," "intend," "estimate," "could," "should," and other words and terms of similar meaning and expression are intended to identify forward-looking statements, although not all forward-looking statements contain such terms. Forward-looking statements are based on management's current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: Eightco's ability to maintain compliance with the Nasdaq's continued listing requirements; unexpected costs, charges or expenses that reduce Eightco's capital resources; Eightco's inability to raise adequate capital to fund its business; Eightco's inability to innovate and attract users for Eightco's products; future legislation and rulemaking negatively impacting digital assets; and shifting public and governmental positions on digital asset mining activity. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. For a discussion of other risks and uncertainties, and other important factors, any of which could cause Eightco's actual results to differ from those contained in forward-looking statements, see Eightco's filings with the Securities and Exchange Commission (the "SEC"), including in its Annual Report on Form 10-K filed with the SEC on April 15, 2025. All information in this press release is as of the date of the release, and Eightco undertakes no duty to update this information or to publicly announce the results of any revisions to any of such statements to reflect future events or developments, except as required by law.
For further information, please contact:
Investor Relations
investors@8co.holdings
