Eightco Holdings Ord Shs Stock Price, News & Analysis

Eightco Holdings (NASDAQ: OCTO) has appointed Nicola Caiano to its Board of Directors, replacing Mary Ann Halford who served since October 2021. Caiano brings over 30 years of expertise in financial strategy, capital markets, and investment management.

Currently serving as CFO at Cytometric Therapeutics and Founding Partner of Olea Management , Caiano's experience includes leadership roles at Pinyon Asset Management, Paulson & Co. Inc., J.P. Morgan Chase, and Bear, Stearns & Co. Inc. At Olea Management, he advises family offices and early-stage companies on capital raising and M&A across technology, finance, and consumer goods sectors.

CEO Paul Vassilakos expressed enthusiasm about Caiano's appointment, highlighting his alignment with the company's goals in driving sustainable growth and shareholder value, particularly in technology and inventory funding sectors.

Eightco Holdings Inc. (NASDAQ: OCTO) has reported its fiscal year 2024 financial results, showing a significant revenue decline to $39.6 million from $67.6 million in 2023. The decrease was primarily attributed to reduced capital available for cell phone sales following the repayment of a convertible note.

The company's gross profit slightly decreased to $6.0 million from $6.2 million in 2023. Operating expenses improved to $14.2 million from $16.9 million, including reductions in both selling, general and administrative expenses and restructuring costs. The operating loss improved to $8.2 million compared to $10.7 million in the previous year.

In Q1 2024, the company completed the repayment of a highly dilutive debt security and repurchased outstanding warrants, which management believes has resulted in a cleaner capital structure to support future growth.

Eightco Holdings Inc. (NASDAQ: OCTO) has completed the sale of its subsidiary, Ferguson Containers, Inc. to Reichard Corrugated Products, , a company controlled by Ferguson Containers' existing management.

The strategic divestiture aligns with Eightco's focus on its core business, Forever 8 Fund, , which provides inventory and cash flow management solutions. The sale represents a milestone enabling both companies to better position themselves for long-term success.

The transaction details are documented in the Company's Current Report on Form 8-K filed with the SEC on November 27, 2024. Edward and Derick Reichard, Senior Managers at Ferguson Containers for 35 years and Founders of Reichard Corrugated Products, will lead the acquired business.

Eightco Holdings Inc. (NASDAQ: OCTO) has completed significant financial transactions through its subsidiary Forever 8 Fund, The company secured a $7.2 million debt extension and raised $3.1 million in new financing, totaling $10.3 million in New Debt to support growth through 2024 and into 2025.

Forever 8, which provides inventory and cash flow management solutions for e-commerce businesses and refurbished Apple product resellers, restructured its existing Series A, B, C, and D promissory notes into new Series A and C notes. Additionally, former Forever 8 members agreed to convert $1.6 million of accrued interest into approximately 485,381 shares of Common Stock at $3.23 per share and defer interest payments until October 30, 2025.

Eightco Holdings (NASDAQ: OCTO) reported Q3 2024 financial results with net revenues of $7.7 million, down from $23.3 million in Q3 2023, primarily due to reduced capital for cell phone sales after convertible note repayment. The company posted a net loss of $3.2 million, slightly improved from a $3.5 million loss year-over-year. Gross profit margin increased to 26.7% from 11.8%, while SG&A expenses rose 14.65% to $3.7 million. The company successfully met NASDAQ compliance requirements and raised $2.2 million through ATM sales at an average price of $3.52 per share.

Eightco Holdings Inc. (NASDAQ: OCTO) provides inventory funding and management solutions for e-commerce businesses through its subsidiary, Forever 8 Fund The company's CEO, Paul Vassilakos, discussed recent milestones and future plans in an interview. Key points include:

- Regaining NASDAQ compliance with stockholders' equity reaching $13.4 million
- Strengthening the balance sheet by reducing debt and eliminating dilutive warrants
- Doubling gross margins to 22% and reducing SG&A by 23%
- Forever 8's focus on the Apple refurbished products market and broader e-commerce inventory funding
- A revenue target of $100 million in 2025
- Proprietary tools for inventory risk assessment and customer acquisition

Vassilakos emphasized the company's strong position in the market and potential for growth, particularly in serving e-commerce sellers on platforms like Amazon and Shopify.

Eightco Holdings Inc. (NASDAQ: OCTO) has announced its 2025 Strategic Plan and a $100 million revenue forecast. The company reported significant improvements in 2024, including:

- Elimination of $5.4 million in convertible notes
- Increase in shareholder equity by $23 million
- Cancellation of 5,846,627 dilutive shares
- Gross profit margin increase to 22% (vs 12% in prior year)
- SG&A reduction to $6.9 million (23% decrease)

These improvements helped Eightco regain compliance with NASDAQ requirements. The company's 2025 plan focuses on growing its subsidiary, Forever 8 Fund , which provides inventory solutions for e-commerce sellers and supplies refurbished Apple products. Eightco aims to secure non-dilutive senior debt financing to support its growth targets and achieve positive EBITDA at the public company level in 2025.

Eightco Holdings Inc. (NASDAQ: OCTO) has announced its regained compliance with Nasdaq's listing requirements. The company received formal notice from Nasdaq confirming compliance with both the minimum bid price requirement and the stockholders' equity requirement.

To meet the bid price requirement, Eightco's common stock maintained a closing bid price above $1.00 for the last 20 consecutive trading days, exceeding the minimum 10-day requirement. For the equity requirement, the company reported stockholders' equity of $13,428,553 in its Q2 2024 10-Q filing, surpassing the required minimum of $2,500,000.

As a result of regaining compliance, Eightco's common stock will continue to trade on The Nasdaq Capital Market under the symbol OCTO.

Eightco Holdings Inc. (NASDAQ: OCTO) reported financial results for Q2 2024. Key highlights include:

- Net income of $4.4 million, compared to a net loss of $8.9 million in Q2 2023
- Revenues of $7.0 million, down from $20.5 million in Q2 2023
- Gross profit margin improved to 25.3% from 12.3% year-over-year
- SG&A expenses reduced by 26.6% to $3.5 million
- EBITDA of $6.4 million, up from a loss of $5.5 million in Q2 2023

The company focused on improving its financial stability by cancelling $23 million in liabilities and repaying convertible notes, which led to a reduction in dilutive shares. The decrease in revenues was attributed to reduced capital for cell phone sales after repaying the convertible note.