LFTD Partners Q3 Revenue Grows 27% YoY To $11.2M

LFTD Partners Inc. LIFD Q3 2022 revenue was $11.2 million, a 27% increase compared to $8.8 million in Q3 2021.

Q3 2022 Financial Highlights

• Net income of $423,486

• Basic earnings per share ("EPS") of $0.03 per share

• Diluted EPS of $0.03

• Basic and diluted weighted average shares outstanding for the three months ended September 30, 2022 were 14.1 million and 15.9 million respectively

• Ninth consecutive quarter of positive earnings per share during the Q3 2022.

Balance Sheet Highlights - as of September 30, 2022

• Cash on hand of $4.4 million

• Inventory of $6.3 million

• Current assets of $14,6 million

• Current ratio of 2.22

• Working capital of $8 million

• No secured debt

Gerard M. Jacobs, CEO of LFTD Partners, stated, "In addition to our hemp-derived cannabinoid and psychedelic products business, we are intensively working on an acquisition agreement with the owners of a growing US company outside of our industry that is pursuing expansion into Asia and the Middle East. If consummated, this exciting potential acquisition would significantly diversify our company's revenues, and very likely would cause us to pursue the listing of LFTD Partners' common stock on multiple stock exchanges."

Price Action

Get Started

Earn 7.2% — No Matter What the Fed Does

Markets expect rate cuts — but your earnings don’t have to suffer. Lock in 7.2% until 2028 from ten individual bonds.

Get Started

LFTD Partners shares were trading 4.26% lower at $2.7 per share at the time of writing Monday morning.

Get your daily dose of cannabis news on Benzinga Cannabis. Don’t miss out on any important developments in the industry.

Photo by Giorgio Trovato on Unsplash

Related News

Despite Strong Income And Revenue Growth LFTD Stock Plunges Following Earnings Release

LFTD Partners Prepays Its Remaining Secured Debt Of $916K

LFTD Partners Lowers Its Secured Debt, Here Are The Details