Sequential Revenue Growth
Revenue for the second quarter was $44 million, up 1.1% sequentially from the first quarter, signaling early momentum in stabilizing and rebuilding the business.
Gross Margin Improvement
Gross margin was 55.4%, up 150 basis points compared to 53.9% in the prior year, reflecting increased third-party vendor funding and improved promotional strategies.
Positive Cash Flow
The company delivered positive operating and total cash flow, with operating cash flow at positive $1 million for the quarter, driven by working capital discipline.
Enhanced Liquidity
Proactive steps were taken to amend and extend the asset-based loan facility, pushing maturity out to 2028, thereby improving access to capital on more favorable terms.
Strategic Collaboration with HumanCo
A working group was established with HumanCo to unlock greater value through strategic and operational initiatives, reinforcing a collaborative relationship to enhance shareholder value.