EQUATOR Beverage Company Reports Fourth Quarter 2024 Financial Results

Rhea-AI Summary

EQUATOR Beverage Company (MOJO) reported strong Q4 2024 financial results, with revenue reaching $699,293, up 38% year-over-year from $508,213. Gross profit increased to $260,083, up 18% from $220,243 in the prior year quarter, representing a 37% gross margin despite a 161% increase in ocean shipping costs.

The growth was primarily driven by increased grocery store shelf space, online sales, and sustained consumer demand. For the full year 2024, revenue totaled $3,246,913 compared to $2,288,272 in 2023. The company projects revenue of $650,000 for the first two months of 2025, representing a 76% increase from the same period last year.

Positive

• Q4 2024 revenue increased 38% YoY to $699,293
• Q4 2024 gross profit grew 18% YoY to $260,083
• Full year 2024 revenue reached $3,246,913, up from $2,288,272
• Projected 76% revenue growth for first two months of 2025
• Expansion of grocery store shelf space and online sales channels

Negative

• 161% increase in ocean shipping costs impacting margins
• Gross margin decreased to 37% in Q4 2024

Fourth quarter revenue of $699,293, up 38% year over year

Fourth quarter gross profit of $260,083, up 18% year over year

Jersey City, New Jersey--(Newsfile Corp. - February 11, 2025) - EQUATOR Beverage Company (OTCQB: MOJO), maker of MOJO Energy and MOJO Coconut Water premium lifestyle functional beverages today reported record fourth quarter 2024 financial results.

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Glenn Simpson, Chairman & CEO of EQUATOR Beverage Company, said "EQUATOR Beverage had its highest fourth quarter revenue. Driving revenue was a gain in shelf space and new points of sale. The $260,083 fourth quarter gross profit reflects a balanced and disciplined approach to growth while simultaneously building the business despite a significant increase in ocean freight cost."

FINANCIAL HIGHLIGHTS FOR THE FOURTH QUARTER 2024

Revenue for the fourth quarter increased 38% to $699,293 compared to $508,213 for the prior-year, driven primarily by grocery store shelf space increases and online sales. We saw sustaining consumer demand growth, and overall channel growth. Same stores growth was also up year over year. Gross profit for the fourth quarter of 2024 increased to $260,083 compared to $220,243 for the prior-year quarter. Gross profit as a percentage of revenue was 37% for the three months ended December 31, 2024. This was very positive despite a 161 percent increase in ocean shipping costs.

This marks the fourth quarter of consecutive revenue growth year over year.

For the year ended December 31, 2024, revenue was $3,246,913 compared to $2,288,272 for the same period last year.

For the first two months of 2025, we expect revenue to be $650,000 up 76 percent from the same period last year.

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Contact:
Glenn Simpson Chairman & CEO
EQUATOR Beverage Company
917 574 1690
GlennSimpson@EquatorBeverage.Com
Symbol Ticker: MOJO
Website: www.equatorbeverage.com

Forward-Looking Statements

This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. The words 'estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risk.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240408

FAQ

What was EQUATOR Beverage Company's (MOJO) revenue growth in Q4 2024?

EQUATOR Beverage Company reported Q4 2024 revenue of $699,293, representing a 38% increase compared to $508,213 in Q4 2023.

How did MOJO's gross profit perform in Q4 2024?

Gross profit increased by 18% to $260,083 in Q4 2024, compared to $220,243 in the same quarter of the previous year.

What is MOJO's revenue forecast for early 2025?

The company expects revenue of $650,000 for the first two months of 2025, representing a 76% increase from the same period last year.

How did shipping costs impact MOJO's performance in Q4 2024?

Ocean shipping costs increased by 161%, affecting the company's gross margin which stood at 37% for Q4 2024.

What was EQUATOR Beverage Company's (MOJO) full-year revenue for 2024?

The company reported full-year 2024 revenue of $3,246,913, compared to $2,288,272 in 2023.