Hour Loop Reports Third Quarter 2024 Results
Hour Loop, Inc. - common stock (HOUR)
Company Research
Source: GlobeNewswire
Profitability Continues Despite Warning Signs for the Overall Economy Redmond, WA, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Hour Loop, Inc. (NASDAQ: HOUR) (“Hour Loop”), a leading online retailer, announces its financial and operational results for the quarter ended September 30, 2024. Financial Highlights for Third Quarter 2024: Net revenues in the third quarter increased 6.6% to $31.1 million, compared to $29.1 million in the year-ago period;Net income in the third quarter totaled $0.5 million, compared to net loss of $0.02 million in the year-ago period; andCash used in operating activities for the nine months ended September 30, 2024, was $1.2 million, compared to $3.9 million in the year-ago period. Management Commentary “We are pleased to report our third quarter 2024 results, in which we continued to deliver good revenue growth, despite low active inventory level due to challenges from severe congestion in the inbound
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