Income Statement
v3.24.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
Mar. 31, 2024 |
Mar. 31, 2023 |
|
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||
| Revenue | $ 14,444,957 | $ 21,883,445 | $ 59,586,148 | $ 56,282,542 |
| Cost of Revenue | 11,561,834 | 14,305,698 | 42,864,857 | 35,555,746 |
| Gross profit | 2,883,123 | 7,577,747 | 16,721,291 | 20,726,796 |
| Operating expenses | ||||
| Sales and marketing | 1,547,161 | 2,258,937 | 5,427,358 | 5,331,948 |
| Distribution costs | 2,291,945 | 2,352,684 | 7,516,748 | 8,010,373 |
| General and administrative expenses | 2,399,387 | 2,602,312 | 6,685,881 | 6,807,739 |
| Share-based compensation | 212,758 | 1,146,299 | 965,229 | 3,126,472 |
| Amortization of acquired intangible assets | 1,062,734 | 1,124,500 | 3,188,201 | 2,709,167 |
| Depreciation | 306,185 | 225,879 | 901,521 | 649,883 |
| Total Operating expenses | 7,820,170 | 9,710,611 | 24,684,938 | 26,635,582 |
| Loss from operations | (4,937,047) | (2,132,864) | (7,963,647) | (5,908,786) |
| Other income (expense), net | ||||
| Change in derivative liability | 0 | 0 | 0 | (1,770) |
| Interest (expense) income, net | 661,878 | 152,360 | 2,612,617 | 2,370,294 |
| Other income (expense), net | 661,878 | 152,360 | 2,612,617 | 2,368,524 |
| Income (loss) on operations before income tax | (5,598,925) | (1,980,504) | (10,576,264) | (8,277,310) |
| Gain on sale of Infusionz and select assets | 0 | 0 | 0 | 7,564,363 |
| Gain (loss) from the sale of Interactive Offers | (103,263) | 0 | 237,670 | |
| Lease settlement, California facility | 0 | 0 | 0 | |
| Lease impairment, Delray Beach facility | 0 | 0 | (289,968) | |
| Income tax benefit (expense) | 1,501,595 | 496,880 | 2,668,769 | 449,828 |
| Net income (loss) from continuing operations | (4,200,593) | (1,483,624) | (7,959,793) | (263,119) |
| (Loss) income from discontinued operations | 81,981 | (287,119) | 46,874 | (1,663,451) |
| Net loss attributable to non-controlling interest | 0 | 124,804 | 0 | 358,390 |
| Net income (loss) attributable to Upexi, Inc. | $ (4,118,612) | $ (1,645,939) | $ (7,912,919) | $ (1,568,180) |
| Basic and dilutive loss per share: | ||||
| Income (loss) per share from continuing operations | $ (0.20) | $ (0.08) | $ (0.39) | $ (0.02) |
| (Loss) income per share from discontinued operations | 0 | (0.02) | 0.00 | (0.10) |
| Total income (loss) per share | $ (0.20) | $ (0.09) | $ (0.39) | $ (0.09) |
| Basic weighted average shares outstanding | 20,723,542 | 18,015,837 | 20,423,924 | 17,418,877 |
| Fully diluted weighted average shares outstanding | 20,723,542 | 18,015,837 | 20,423,924 | 17,418,877 |
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, before tax, of income (loss) attributable to noncontrolling interest. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and equity method investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, of income (loss) attributable to parent. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and equity method investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense related to the production and distribution of goods or services to customers and clients. No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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