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ECD Auto Design Announces FY23 EPS $(0.09) Vs $(0.06) YoY; Revenue $15.12M Vs $12.34M YoY

Benzinga ·  May 3 08:33

Business Highlights

  • Revenue of $15.1 million for the full year 2023, an increase of 22.5% over the prior year period.
  • Gross profit of $4.2 million for the full year 2023, an increase of 150% over the prior year period.
  • Net income of $(1.6) million for the full year 2023, compared to $(1.4) million in 2022.
  • Adjusted EBITDA of $1.1 million for the full year 2023, compared to $(1.3) million in 2022.
  • Recently completed acquisition of certain assets of Brand New Muscle Car, providing an opportunity to introduce classic American muscle cars to its product line up
  • Reiterates 2024 revenue guidance of at least $33 million for the full year, a 118% increase compared to 2022

Management Commentary

Scott...

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