Michael Feinsod, Chairman and CEO of Bespoke, stated, "Second quarter revenue was $390,553, up 48.4% compared to $263,159 in the first quarter of 2025 and 40.4% compared to $278,163 in the second quarter of 2024. Gross margin of 50.6% increased 1,250 basis points compared to the prior year period. As we continue the Colorado expansion of The Joint Company, we produced and shipped a record number of pre-rolls during the quarter."
Three Months Ended June 30, 2025 Financial Highlights:
Revenue of $390,553, an increase of 40.4% over the prior year.
Gross profit of $197,499 and gross margin of 50.6%, an increase of 1,250 basis points year-over-year.
GAAP net loss of $205,106, compared to $260,895 in the three months ending June 30, 2024
Net loss per share of $0.02 per basic and diluted share, compared to a net loss per basic and diluted share of $0.03 in the three months ending June 30, 2024.
Six Months Ended June 30, 2025 Financial Highlights:
Revenue of $653,712, an increase of 21.4% over the prior year.
Gross profit of $308,278 and gross margin of 47.2%, an increase of 850 basis points year-over-year.
GAAP net loss of $465,627, compared to $575,013 in the six months ending June 30, 2024
Net loss per share of $0.04 per basic and diluted share, compared to a net loss per basic and diluted share of $0.06 in the six months ending June 30, 2024.
Second Quarter Operational Highlights:
Record production during the second quarter of over 177,000 pre-rolls.
Continued to achieve cost efficiencies in raw materials, packaging, and labor, increasing gross margins despite increased sampling costs for new product launches and customer acquisition.
Continued year-over-year growth of core Fresh Joints product line.
Doobskis and Dutch Blunts both achieved meaningful market penetration in the second quarter.
Strong growth in our third-party processing business, driven by new client contracts.
For the Three Months Ended
30-Jun-25
31-Mar-25
30-Jun-24
Revenue
$
390,553
$
263,159
$
278,163
Gross Profit
197,499
110,779
106,117
Gross Profit Margin
50.6
%
42.1
%
38.1
%
Income (Loss) from Operations
(161,958
)
(245,338
)
(250,895
)
Net Income
(205,106
)
(260,521
)
(260,895
)
Shares Outstanding
11,153,220
11,153,220
10,168,220
Net Loss Per Share Out.
$
(0.02
)
$
(0.02
)
$
(0.03
)
Production Data
Joints Produced
177,995
113,428
102,148
For the Six Months Ended
30-Jun-25
30-Jun-24
Revenue
$
653,712
$
538,591
Gross Profit
308,278
208,698
Gross Profit Margin
47.2
%
38.7
%
Income (Loss) from Operations
(407,296
)
(553,046
)
Net Income
(465,627
)
(575,013
)
Shares Outstanding
11,153,220
10,168,220
Net Loss Per Share Out.
$
(0.04
)
$
