LFTD Partners Inc. Announces Decline in Third Quarter 2024 Financial Performance

Jacksonville-based LFTD Partners Inc. disclosed a challenging third quarter ending September 30, 2024, with revenue dropping by 34% to $8.69 million compared to the previous year. The company reported an operating loss of $140,703, reversing from an income of $659,539 a year earlier. Similarly, net loss stood at $194,399, contrasting with the prior net income of $617,648. Basic and diluted loss per share was recorded at $0.01, down from a positive $0.04 per share in Q3 2023.

The balance sheet reflected a 22% decline in cash reserves to $4.17 million, alongside a decrease in inventory and current assets. Despite these dips, the current ratio improved slightly to 2.64. Working capital fell by 16% to $10.85 million, while notes payable to Surety Bank decreased by 10%.

The company has scheduled an earnings call on November 15, 2024, to address these figures and engage with stakeholders.