LFTD Partners Inc. Reports $0.04 Basic EPS in Q3 2023

JACKSONVILLE, FL / ACCESSWIRE / November 13, 2023 / LFTD Partners Inc. ("LFTD Partners" or the "Company") (OTCQB: LIFD), the corporate parent of Lifted Made, maker of the award-winning Urb Finest Flowers brand of hemp and psychoactive products, today reported its third quarter 2023 financial results.

Income Statement Highlights - Q3 2023 Compared to Q3 2022

• Revenue increased 17% to $13,106,280, up from $11,237,277
• Net income increased 46% to $617,648, up from net income of $423,486
• Basic earnings per share ("EPS") increased 33% to $0.04 per share, up from $0.03 per share
• Diluted EPS increased 33% to $0.04 per share, up from $0.03 per share
• Basic weighted average shares outstanding for the three months ended September 30, 2023 and 2022 were 14,648,874 and 14,102,578, respectively
• Diluted weighted average shares outstanding for the three months ended September 30, 2023 and 2022 were 15,356,374 and 15,884,776, respectively

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

• Cash on hand decreased 13% to $3,081,393, down from $3,530,623
• Inventory increased 64% to $9,865,202, up from $6,023,967
• Current assets increased 36% to $18,873,527, up from $13,853,949
• Current ratio increased to 2.30, from 2.23
• Working capital increased 40% to $10,676,438, up from $7,643,816
• No debt as of September 30, 2023

Nicholas S. Warrender, Vice Chairman and COO of LFTD Partners and Founder and CEO of Lifted Made, said, "Our flagship brand Urb has continued to be an industry leader, showing consistent sell through and customer loyalty regardless of shifts in the marketplace. Our investments in infrastructure to increase capacity has allowed us to branch into exciting collaborations with trending brands across the nation to bring more exposure to hemp derived cannabinoids, further broadening our reach. We have geared up to finish the year strong and enter into 2024 with great momentum and position ourselves to take advantage of new opportunities inside and outside the industry."

Gerard M. Jacobs, Chairman and CEO of LFTD Partners, said, "Despite a chaotic industry and an uncertain regulatory backdrop, LFTD Partners has continued to operate profitably, participating directly in the hemp-derived products industry, and finding attractive ways to participate indirectly in the marijuana industry."

Earnings Conference Call and Webcast Information

LFTD Partners plans to hold a third quarter 2023 earnings conference call and webcast today, Monday, November 13, 2023 at 8:30 AM ET.