TBLT - ToughBuilt Industries reports Q4 results

2023-03-15 16:39:32 ET

• ToughBuilt Industries press release ( NASDAQ: TBLT ): Q4 Revenue of $29.6M (+19.8% Y/Y).
• Gross profit increased to approximately $21.8 million in 2022, compared to approximately $19.1 million in 2021. 2022 gross profit margins were 27.2%, compared to 23% in 2021. Margins increased due to the decrease of shipping rates and overall logistics improvements.
• Operating expenses were approximately $58.4 million in the full year of 2022, compared to approximately $51.4 million in 2021. The increase in operating expenses was primarily due to the hiring additional employees and marketing expenses to grow the Company.
• Net loss attributable to common stockholders in the full year of 2022 was approximately $39.8 million, or $(7.16) loss per share, compared to a net loss of approximately $37.5 million, or $(56.08) loss per share in the full year of 2021.

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