$HOUR
Hour Loop, Inc

2024 Q4 Form 10-Q Financial Statement

#000149315224044536 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $31.08M
YoY Change 6.6%
Cost Of Revenue $14.04M
YoY Change 1.57%
Gross Profit $17.04M
YoY Change 11.13%
Gross Profit Margin 54.83%
Selling, General & Admin $16.32M
YoY Change 6.55%
% of Gross Profit 95.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.70K
YoY Change -7.67%
% of Gross Profit 0.16%
Operating Expenses $16.32M
YoY Change 6.55%
Operating Profit $721.8K
YoY Change 3913.14%
Interest Expense -$62.86K
YoY Change 4.77%
% of Operating Profit -8.71%
Other Income/Expense, Net -$34.45K
YoY Change -864.59%
Pretax Income $687.4K
YoY Change 2956.19%
Income Tax $217.8K
% Of Pretax Income 31.68%
Net Earnings $469.6K
YoY Change -3219.33%
Net Earnings / Revenue 1.51%
Basic Earnings Per Share $0.01
Diluted Earnings Per Share $0.01
COMMON SHARES
Basic Shares Outstanding 35.14M shares 35.13M shares
Diluted Shares Outstanding 35.13M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $1.194M
Short-Term Investments
Other Short-Term Assets $2.846K
YoY Change -83.21%
Inventory $29.08M
Prepaid Expenses
Receivables $548.2K
Other Receivables
Total Short-Term Assets $31.58M
YoY Change 20.65%
LONG-TERM ASSETS
Property, Plant & Equipment $80.08K
YoY Change -54.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $821.2K
YoY Change -42.49%
TOTAL ASSETS
Total Short-Term Assets $31.58M
Total Long-Term Assets $821.2K
Total Assets $32.40M
YoY Change 17.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.45M
YoY Change -8.61%
Accrued Expenses $231.7K
YoY Change 57.05%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.55M
YoY Change 15.82%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.170M
YoY Change -0.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.55M
Total Long-Term Liabilities $4.170M
Total Liabilities $25.72M
YoY Change 12.89%
SHAREHOLDERS EQUITY
Retained Earnings $932.0K
YoY Change -210.61%
Common Stock $3.513K
YoY Change 0.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.689M
YoY Change
Total Liabilities & Shareholders Equity $32.40M
YoY Change 17.38%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $469.6K
YoY Change -3219.33%
Depreciation, Depletion And Amortization $27.70K
YoY Change -7.67%
Cash From Operating Activities -$2.181M
YoY Change 489.48%
INVESTING ACTIVITIES
Capital Expenditures $440.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$440.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities -2.181M
Cash From Investing Activities -440.0
Cash From Financing Activities
Net Change In Cash -2.182M
YoY Change 311.61%
FREE CASH FLOW
Cash From Operating Activities -$2.181M
Capital Expenditures $440.00
Free Cash Flow -$2.182M
YoY Change 489.6%

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CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
37548 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
935637 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
469647 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-15056 usd
us-gaap Net Income Loss
NetIncomeLoss
2184611 usd
CY2024Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
-15966 usd
CY2023Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
12032 usd
us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
8625 usd
CY2024Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
485613 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-27088 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2175986 usd
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35130677 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35130677 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35058340 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35058340 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35111844 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35111844 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35061286 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35061286 shares
CY2023Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
12032 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-15056 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
4827636 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
4452897 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
60042 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
8625 usd
us-gaap Net Income Loss
NetIncomeLoss
2184611 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
6688925 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
6832856 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
6832856 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
34333 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
19885 usd
us-gaap Net Income Loss
NetIncomeLoss
-2019668 usd
us-gaap Net Income Loss
NetIncomeLoss
-2019668 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
4827636 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
4827636 usd
us-gaap Net Income Loss
NetIncomeLoss
2184611 usd
us-gaap Net Income Loss
NetIncomeLoss
-2019668 usd
us-gaap Depreciation
Depreciation
98624 usd
us-gaap Depreciation
Depreciation
100441 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
157520 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
262913 usd
HOUR Deferred Tax Assets
DeferredTaxAssets
-736868 usd
HOUR Deferred Tax Assets
DeferredTaxAssets
508390 usd
us-gaap Share Based Compensation
ShareBasedCompensation
60042 usd
us-gaap Share Based Compensation
ShareBasedCompensation
34333 usd
us-gaap Inventory Write Down
InventoryWriteDown
578622 usd
us-gaap Inventory Write Down
InventoryWriteDown
972582 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-199426 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
384775 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
15383373 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5896260 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
254418 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
412309 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
11640380 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
5439274 usd
HOUR Increase Decrease In Credit Cards Payable
IncreaseDecreaseInCreditCardsPayable
-174768 usd
HOUR Increase Decrease In Credit Cards Payable
IncreaseDecreaseInCreditCardsPayable
-412770 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-922149 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-842318 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-153270 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-280333 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1231885 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3947280 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
35031 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14024 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35031 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14024 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-22998 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-38673 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1289914 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3999977 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2484153 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4562589 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1194239 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
562612 usd
us-gaap Interest Paid Net
InterestPaidNet
15266 usd
us-gaap Interest Paid Net
InterestPaidNet
172964 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
210811 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
362 usd
HOUR Rightofuse Of Asset And Operating Lease Liabilities Recognized
RightofuseOfAssetAndOperatingLeaseLiabilitiesRecognized
248917 usd
HOUR Rightofuse Of Asset And Operating Lease Liabilities Recognized
RightofuseOfAssetAndOperatingLeaseLiabilitiesRecognized
27330 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_848_eus-gaap--UseOfEstimates_z8SvLpB9g4R5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zoyvkipMmq18">Use of Estimates</span></b> - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates, include but not limited to, estimates associated with the collectability of accounts receivable, useful life of property and equipment, impairment of long-lived assets, valuation allowance for deferred tax assets, inventory valuation and inventory provision.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_840_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zrDE6eYKYgC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zQ8x85lnQu76">Reclassification</span> </b>- Certain amounts in the consolidated financial statements for the three and nine months ended September 30, 2023 have been reclassified to conform to the current interim review presentation. These reclassifications had no impact on consolidated net earnings, consolidated financial position, or consolidated cash flows. Proposed changes involve presenting foreign currency gain or loss as a General and administrative expense, segregating accounts payable into separate categories: accounts payable and credit cards payable and reclassifying inventory allowance in the consolidated cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
578622 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
675886 usd
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
2500 usd
CY2024Q3 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
CY2024Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2023Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2024Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
256062 usd
CY2023Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
101510 usd
HOUR Sales Return Rate
SalesReturnRate
0.0600 pure
HOUR Sales Return Rate
SalesReturnRate
0.0645 pure
HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
18749793 usd
HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
17091747 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2024Q3 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
288466 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_z8cadcHuFe08" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zF6XcybZTwjh">Concentration of Credit Risks</span> -</b> Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains cash and cash equivalents with various domestic and foreign financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of the aforementioned institutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Significant customers are those which represent more than 10% of the Company’s total net revenue or gross accounts receivable balance at the balance sheet date. <span id="xdx_90A_eus-gaap--ConcentrationRiskCustomer_c20240101__20240930_zle3hVed8LJg" title="Concentration risk customer">During the three and nine months ended September 30, 2024 and 2023, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of September 30, 2024 and December 31, 2023, the Company had no customer that accounted for 10% or more of gross accounts receivable.</span> As of September 30, 2024 and December 31, 2023, all of the Company’s accounts receivable were held by the Company’s sales platform agent, Amazon, which collects money on the Company’s behalf from its customers. Therefore, the Company’s accounts receivable are comprised of receivables due from Amazon and the reimbursement from Amazon to the Company usually takes less than 7 days.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s business is reliant on one key vendor which currently provides the Company with its sales platform, logistics and fulfillment operations, including certain warehousing for the Company’s net goods, and invoicing and collection of its revenue from the Company’s end customers. During the nine months ended September 30, 2024 and 2023, approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zh0kccnXccd4" title="Concentration risk percentage">99</span>% and <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_ziSXnk2dkEc5" title="Concentration risk percentage">100</span>%, respectively, of the Company’s revenue was through or with the Amazon sales platform.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
During the three and nine months ended September 30, 2024 and 2023, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of September 30, 2024 and December 31, 2023, the Company had no customer that accounted for 10% or more of gross accounts receivable.
us-gaap Advertising Expense
AdvertisingExpense
3096997 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
17964767 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
13377530 usd
CY2024Q3 us-gaap Other Inventory In Transit
OtherInventoryInTransit
11695161 usd
CY2023Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
1574911 usd
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
578622 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
675886 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
29081306 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
14276555 usd
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
578622 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
675886 usd
CY2024Q3 us-gaap Supplies
Supplies
572647 usd
CY2023Q4 us-gaap Supplies
Supplies
49298 usd
CY2024Q3 us-gaap Prepaid Insurance
PrepaidInsurance
26461 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
5302 usd
CY2024Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
87984 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
56437 usd
CY2024Q3 HOUR Lease Refundable Deposit Current
LeaseRefundableDepositCurrent
51153 usd
CY2023Q4 HOUR Lease Refundable Deposit Current
LeaseRefundableDepositCurrent
81522 usd
CY2024Q3 us-gaap Prepaid Taxes
PrepaidTaxes
18300 usd
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
305253 usd
CY2024Q3 us-gaap Other Assets Current
OtherAssetsCurrent
2846 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
7161 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
759391 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
504973 usd
CY2024Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
18300 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
393099 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
368729 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
313018 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
219941 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
80081 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
148788 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
35031 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
98624 usd
HOUR Disposal Or Pledge
DisposalOrPledge
0 usd
CY2024Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
15453334 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3812954 usd
CY2024Q3 HOUR Credit Cards Payable
CreditCardsPayable
4229677 usd
CY2023Q4 HOUR Credit Cards Payable
CreditCardsPayable
4404445 usd
CY2024Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
15453334 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3812954 usd
CY2024Q3 HOUR Credit Cards Payable
CreditCardsPayable
4229677 usd
CY2024Q3 HOUR Sales Returns
SalesReturns
2042994 usd
CY2023Q3 HOUR Sales Returns
SalesReturns
1874956 usd
HOUR Sales Returns
SalesReturns
5418917 usd
HOUR Sales Returns
SalesReturns
5092981 usd
CY2024Q3 HOUR Discounts
Discounts
404926 usd
CY2023Q3 HOUR Discounts
Discounts
404222 usd
HOUR Discounts
Discounts
1110652 usd
HOUR Discounts
Discounts
1208382 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31075498 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29152360 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
83827327 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
72637417 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3120248 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
655252 usd
HOUR Income Tax Reconciliation Change In Enacted Tax Rate Net
IncomeTaxReconciliationChangeInEnactedTaxRateNet
62388 usd
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.0042 pure
us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
13102 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
198768 usd
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0854 pure
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
266516 usd
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.0002 pure
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
767 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2999 pure
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
935637 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2528058 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2190 pure
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-553685 usd
HOUR Income Tax Reconciliation Change In Enacted Tax Rate Net
IncomeTaxReconciliationChangeInEnactedTaxRateNet
78989 usd
us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.0068 pure
us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
17300 usd
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.0111 pure
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
27995 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2011 pure
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us-gaap Deferred Federal Income Tax Expense Benefit
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
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false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
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false

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0001493152-24-044536.txt Edgar Link pending
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form10-q_htm.xml Edgar Link completed
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FilingSummary.xml Edgar Link unprocessable