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REBN Nasdaq· Reborn Coffee Inc.
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REBN Nasdaq· Reborn Coffee Inc.
Earnings report Q3 2023

REBN Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

REBN reported total revenues of approximately $4.2 million for the nine-month period ended September 30, 2023, compared to $2.4 million for the same period in 2022, representing a significant increase of $1.8 million or 74.6%. For the three-month period ended September 30, 2023, revenues were approximately $1.5 million, compared to $838,000 for the same period in 2022, reflecting an increase of $676,000 or 80.6%. The growth in sales was primarily driven by the opening of new stores and the company's continued focus on marketing efforts to enhance brand recognition.

Strengths

REBN demonstrated strong revenue growth in the latest quarter, with a significant increase of 74.6% for the nine-month period compared to the previous year. This growth can be attributed to the successful expansion of the company's store network and effective marketing strategies. The opening of new stores allowed REBN to reach a wider customer base, while the increased marketing efforts helped to enhance brand recognition and attract more customers. These factors contributed to the company's overall revenue growth and indicate a positive trajectory for future performance.

Challenges

Despite the impressive revenue growth, REBN also faced challenges in managing its product, food, and drink costs. These costs amounted to approximately $1.3 million for the nine-month period ended September 30, 2023, compared to $806,000 for the same period in 2022, representing an increase of approximately $518,000 or 64.2%. The significant rise in costs poses a challenge for the company in maintaining profitability and managing its expenses effectively.

Noteworthy

It is worth mentioning that REBN's revenue growth of 74.6% for the nine-month period is well above the industry average. This indicates that the company has been successful in capturing market share and increasing its customer base. Additionally, the opening of new stores and the focus on marketing efforts have contributed to the company's strong performance. However, the increase in product, food, and drink costs highlights the need for REBN to closely monitor and manage its expenses to ensure sustained profitability.

Summary

REBN reported impressive revenue growth of 74.6% for the nine-month period ended September 30, 2023, driven by the opening of new stores and effective marketing strategies. The company's focus on expanding its store network and enhancing brand recognition has yielded positive results. However, the increase in product, food, and drink costs presents a challenge for REBN in maintaining profitability. Overall, REBN's strong revenue growth indicates a promising outlook for the company's future performance.

Source documents

Form 10-Q  filed on Nov 14, 2023
14 pages scanned

Reference data

Company financials Q3 revenue 1.8M
Analyst estimates Q3 EPS missed by NaN%
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