SAN ANTONIO, Aug. 20, 2024 (GLOBE NEWSWIRE) -- C-Bond Systems (the "Company" or "C-Bond") (OTC:CBNT), a developer and marketer of glass strengthening solutions for enhanced safety, today announced financial results for the three months ended June 30, 2024, with quarterly revenue more than double that of second quarter of 2023, and first half 2024 revenue up almost 94% from the first half of 2023.
The Company's CEO, Scott R. Silverman, will discuss these financial results on a podcast, which will be posted tomorrow on the Company's YouTube channel at:
Second Quarter and First Half 2024 Financial Highlights:
For the three months ended June 30, 2024, sales amounted to $863,533 as compared to $414,055 for the three months ended June 30, 2023, an increase of $449,478, or 108.6%.
For the six months ended June 30, 2024, sales amounted to $1,800,337 as compared to $929,275 for the six months ended June 30, 2023, an increase of $871,062, or 93.7%.
For the three months ended June 30, 2024, cost of sales amounted to $424,959 as compared to $209,071 for the three months ended June 30, 2023, an increase of $215,888, or 103.3%.
For the six months ended June 30, 2024, cost of sales amounted to $886,888 as compared to $454,431 for the six months ended June 30, 2023, an increase of $432,457, or 95.2%.
For the three months ended June 30, 2024, gross profit amounted to $438,574, or 50.8% of sales, as compared to $204,984, or 49.5% of sales, for the three months ended June 30, 2023, an increase of $233,590, or 114.0%. For the six months ended June 30, 2024, gross profit amounted to $913,449, or 50.7% of sales, as compared to $474,844, or 51.1% of sales, for the six months ended June 30, 2023, an increase ...
