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Reborn Coffee Inc. (REBN+0.52%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates that Reborn Coffee reported net revenues of $5.9 million for the year, an increase from $5.5 million in 2023. This growth was attributed to new store openings and enhanced marketing efforts.
Cost of sales for retail stores was $2.1 million, up from $1.8 million in the previous year, reflecting increased sales and the opening of new locations.
General and administrative expenses increased slightly to $8.3 million from $8.2 million, due to higher occupancy and labor costs associated with new store openings.
The company reported a net loss of $4.8 million, slightly higher than the $4.7 million loss in 2023. The loss was primarily due to increased operational costs.
Cash used in operating activities was $3.5 million, compared to $3.2 million in the previous year, reflecting the company's ongoing expansion efforts.
Reborn Coffee's total assets as of December 31, 2024, were $7.8 million, with liabilities totaling $5.2 million, resulting in a stockholders' equity of $2.6 million.
The company highlighted the need for additional capital to support its business model and future operations, indicating plans to raise funds through loans and other financing options.
Reborn Coffee operates 12 retail locations, with plans for further expansion and franchise sales to drive growth in the coming years.
The filing also includes details on the company's recent financial agreements, including loans and stock issuances, aimed at supporting its growth strategy.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Reborn Coffee Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.