Reduction in Losses
The company reported a net loss of $1.3 million compared to a loss of $1.8 million in the second quarter of the previous year, and a year-to-date net loss of $2.4 million compared to $3.1 million. Loss per share improved from $0.22 to $0.15.
Cost Reduction Initiatives
Inventory levels decreased by $4 million, generating cash flow used to pay down vendors and reduce bank debt. Efforts are also being made to exit short-term storage facilities to save approximately $1 million annually.
Positive Feedback from StoryMaker Summit
The 2025 StoryMaker Summit events received incredibly positive feedback, generating energy and investment in brand partners, which could lead to increased engagement and sales.
Real Estate Sale Progress
The sale of the headquarters is expected to close by November 25, 2025, which will pay off existing bank loans and potentially provide funds for future plans.