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1847 Holdings LLC (EFSH0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's strategy of acquiring and managing small businesses with an enterprise value of less than $50 million. It focuses on industries with long-term growth opportunities, stable earnings, and strong management teams.
The company reported total revenues of $15,710,330 for 2024, an increase from $14,190,135 in 2023. This growth was primarily driven by the construction segment, which saw a 24.1% increase in revenues.
The automotive supplies segment experienced a 17.6% decrease in revenues, attributed to working capital constraints on inventory.
Total operating expenses were $27,708,574, resulting in a loss from operations of $11,998,244. This was an improvement from the previous year's loss of $15,706,827.
The company reported a net loss from continuing operations of $106,804,254, compared to a net loss of $23,988,403 in 2023. This was largely due to a significant loss on change in the fair value of warrant liabilities.
1847 Holdings LLC has been involved in several transactions, including the sale of High Mountain and the acquisition of CMD Inc., which are reflected as discontinued operations.
The company raised capital through public offerings and private placements, including a $5 million public offering of common shares and pre-funded warrants, and an $11.42 million private placement of units.
The filing details the management services agreement with its manager, which involves a quarterly management fee and potential profit allocation based on the performance of its subsidiaries.
The company identified material weaknesses in its internal control over financial reporting and is implementing measures to address these issues.
1847 Holdings LLC's future strategy includes continued acquisitions, with a focus on maintaining and growing regular distributions to its shareholders.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the 1847 Holdings LLC annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.