FORT LAUDERDALE, FL, Aug. 21, 2024 (GLOBE NEWSWIRE) -- VPR Brands, LP (OTCQB:VPRB), a leading provider of electronic cigarettes, vaporizers, and accessories, today announced its financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 Highlights:
Total Revenues: $1,769,133, compared to $1,909,529 in Q2 2023
Gross Profit: $451,469, compared to $1,095,092 in Q2 2023
Net Income: $176,052, down from $928,322 in Q2 2023
Operating Expenses: $680,765, up from $452,903 in Q2 2023
Net Cash Provided by Operating Activities: $23,444, compared to net cash used of $281,528 in Q1 2024
Total Assets: $3,218,641, compared to $3,191,246 as of December 31, 2023
Total Liabilities: $2,225,220, down from $2,576,936 as of December 31, 2023
Six-Month 2024 Highlights:
Total Revenues: $3,287,892, compared to $4,990,550 for the six months ended June 30, 2023
Gross Profit: $928,325, down from $1,618,765 in the first six months of 2023
Net Income: $379,111, compared to $953,636 in the first half of 2023
Operating Expenses: $1,327,631, compared to $857,564 in the first half of 2023
Revenues: For the three months ended June 30, 2024, VPR Brands reported revenues of $1,769,133, a slight decline from $1,909,529 in Q2 2023. However, product sales showed a robust increase to $1,611,190 in Q2 2024 from $1,196,805 in Q2 2023, reflecting the growing demand for our products. While royalty revenue declined to $157,943 from $712,724 in the same period last year, the overall performance of our core product ...
