LFTD Partners Inc. Reports $0.11 Basic EPS in Q2 2023

JACKSONVILLE, FL / ACCESSWIRE / August 14, 2023 / LFTD Partners Inc. ("LFTD Partners" or the "Company") (OTCQB:LIFD), the corporate parent of Lifted Made, maker of the award-winning Urb and Silly Shruum brands of hemp and psychoactive products, today reported its second quarter 2023 financial results.

Income Statement Highlights - Q2 2023 Compared to Q2 2022:

• Revenue decreased 25% to $12,522,542, down from $16,776,502
• Net income decreased 48% to $1,659,461, down from $3,219,460
• Basic earnings per share ("EPS") decreased 52% to $0.11 per share, down from $0.23
• Diluted EPS decreased 50% to $0.10 per share, down from $0.20
• Basic weighted average shares outstanding for the three months ended June 30, 2023 and 2022 were 14,512,648 and 14,099,007, respectively
• Diluted weighted average shares outstanding for the three months ended June 30, 2023 and 2022 were 16,689,846 and 15,906,205, respectively

Balance Sheet Highlights - June 30, 2023 Compared to December 31, 2022:

• Cash on hand decreased 42% to $2,049,268, down from $3,530,623
• Inventory increased 74% to $10,469,279, up from $6,023,967
• Current assets increased 21% to $16,708,299, up from $13,853,949
• Current ratio increased to 2.39, from 2.23
• Working capital increased 27% to $9,722,409, up from $7,643,816
• No debt as of June 30, 2023

Nicholas S. Warrender, Vice Chairman and COO of LFTD Partners and Founder and CEO of Lifted Made, said, "In Q2 the team was laser focused on optimizing our automation initiatives and tightening down our supply chain. With new deals getting to market and a pipeline full of innovation, Lifted is positioned in a big way to take full advantage of these opportunities."

Gerard M. Jacobs, Chairman and CEO of LFTD Partners, said, "In a cannabis industry that is generally awash in debt and losses, LFTD Partners remains debt-free and was nicely profitable in Q2 2023."

Earnings Conference Call and Webcast Information

LFTD Partners plans to hold a second quarter 2023 earnings conference call and webcast today, Monday, August 14, 2023 at 8:30 AM ET.

Participant phone numbers:

Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 921590

Webcast event link:

https://www.webcaster4.com/Webcast/Page/2916/48937

The participant phone numbers and webcast event link are shown on the Investor Relations section of LFTD Partners' website at https://www.lftdpartners.com/investors.