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Yerbae Brands Corp. (YERBF+18.42%) has filed its Form 10-K annual report filing for the fiscal year ended December 31, 2024.
Yerbae Brands Corp. reported revenues of $5,905,541 for the year ended December 31, 2024, a decrease from $12,016,378 in the previous year. The decline in revenue was attributed to strategic adjustments in the customer portfolio and broader market conditions.
The company reported a net loss of $10,618,687 for the year, compared to a net loss of $20,824,039 in 2023. The decrease in net loss was due to reduced general and administrative expenses, which fell to $11,058,479 from $19,299,491.
Yerbae's cost of sales decreased to $2,891,334 from $5,976,077 in the previous year, reflecting the reduced sales volume.
The company continues to face challenges related to liquidity and capital resources. As of December 31, 2024, Yerbae had a working capital deficit of $6.4 million and an accumulated deficit of $45.1 million.
Yerbae's management has expressed substantial doubt about the company's ability to continue as a going concern, citing the need for additional funding to meet operational obligations.
The company is actively seeking additional financing and exploring strategic alternatives, including a potential acquisition by Safety Shot, Inc., which was announced on January 7, 2025.
Yerbae's product offerings include plant-based energy drinks, with a focus on health and wellness. The company plans to continue optimizing its product portfolio and expanding its distribution channels.
The company did not recognize any income tax expense for the year ended December 31, 2024, due to its accumulated net operating losses.
Yerbae's board of directors and management team remain focused on addressing the financial challenges and exploring opportunities for growth and sustainability.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Yerbae Brands Corp. annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.