LFTD Partners Inc. Reports Second Quarter 2024 Financial Results

LFTD Partners Inc. ("LFTD Partners" or the "Company") (OTCQB:LIFD), based in Jacksonville, FL, has released its financial results for the second quarter ending June 30, 2024. Revenue saw a decline of 24% to $9,487,299 from $12,522,542 in Q2 2023. This led to an operating loss of $582,745, compared to an operating income of $2,372,674 last year. The net loss stood at $523,212, a stark contrast to the net income of $1,659,461 reported in the same quarter the previous year.

The company's balance sheet showed a 17% decrease in cash on hand to $3,613,788 from $4,357,539 as of December 31, 2023. Inventory also decreased by 28% to $7,348,485, down from $10,174,667. Current assets were down 25%, totaling $16,319,984, compared to $21,668,980 at the end of 2023.

LFTD Partners' current ratio increased to 3.10 from 2.49, and working capital decreased by 15% to $11,056,730. Additionally, notes payable to Surety Bank decreased 6% to $3,608,026. The company will host an earnings conference call on August 15, 2024, at 8:30 AM ET. Participants can join via provided phone numbers or a webcast link on the Company's Investor Relations website.