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Hour Loop Reports Full Year 2024 Results

Profitability Continues Despite Challenges for the Overall Economy

Provides Full Year 2025 Revenue and Net Income Guidance

Redmond, WA, March 27, 2025 (GLOBE NEWSWIRE) -- Hour Loop, Inc. (NASDAQ: HOUR) (鈥淗our Loop鈥�), a leading online retailer, announces its financial and operational results for the year ended December 31, 2024.

Financial Highlights for 2024:

• Net revenues increased 4.6% to $138.3 million, compared to $132.1 million in 2023;
• Net income totaled $0.66 million, compared to net loss of $2.43 million in 2023; and
• Cash provided by operating activities was $0.3 million, compared with cash used in operating activities $2.1 million for the year ended December 31, 2024 and 2023, respectively.
  

Management Commentary

鈥淲e are pleased to report our full year 2024 results, in which we continued to deliver good revenue growth, despite challenges for the overall economy and congested inbound logistics in the 4^th quarter,鈥� said Sam Lai, CEO and interim CFO of Hour Loop. 鈥淭he revenue growth rate for 2024 was 4.6%, compared with 2023.鈥�

鈥淥ur gross margin and operating margin were both improved, compared with the year-ago period, because of efforts made for inventory quality and efficiency enhancement, operation efficiency improvement, as well as expenses management. Overall, we believe we鈥檝e built a solid foundation to continue generating satisfactory growth while maintaining profitability.鈥�

鈥淟ooking forward, we鈥檙e cautiously optimistic. Despite an uncertain economy, we continue to see good demand for our products so far in 2025. We are confident in our ability to continue delivering value to our vendors, customers, and shareholders.鈥�

Full Year 2024 Financial Results

Net revenues in 2024 were $138.3 million, compared to $132.1 million in 2023. The increase was primarily due to continued growth and maturity in our personnel and operating model, despite the overall e-commerce traffic slowdown, intense competition and congested inbound logistics in the 4^th quarter.

Gross profit percentage increased 1.8% to 52.1%, compared to 50.3% of net revenues in 2023. The increase was a function of improved product costs, enhanced inventory quality and efficiency, and efforts made on margin increase.

Operating expenses as a percentage of net revenues in 2024 decreased by 1%, to 51.6%, compared to 52.6% of net revenues in 2023. The decrease reflected better management of normal and long-term storage fees despite a significant increase in inbound placement fees.

Net income in 2024 was $0.66 million, or $0.02 per diluted share, compared to net loss of $2.43 million, or $0.07 per diluted share, in 2023. The increase was driven by reduced costs as a result of the reasons mentioned above and efforts made for expenses management.

As of December 31, 2024, the Company had $2.1 million in cash and cash equivalents, compared to $2.5 million as of December 31, 2023. This decrease was mainly due to loan repayment.

Inventories as of December 31, 2024, were $14.6 million, similar to $14.3 million as of December 31, 2023.

Full Year 2025 Financial Outlook

For the full year 2025, Hour Loop is providing guidance for net revenue to be in the range of $145 million to $160 million, representing about 5% to 15% year-over-year growth. The Company expects 2025 net income to be in the range of $0.5 million to $2 million.

About Hour Loop, Inc.

Hour Loop is an online retailer engaged in e-commerce retailing in the U.S. market. It has operated as a third-party seller on and has sold merchandise on its website at since 2013. Hour Loop further expanded its operations to other marketplaces such as Walmart, eBay, and Etsy. To date, Hour Loop has generated practically all its revenue as a third-party seller on and only a negligible amount of revenue from its own website and other marketplaces. Hour Loop manages more than 100,000 stock-keeping units (鈥淪KUs鈥�). Product categories include home/garden d茅cor, toys, kitchenware, apparel, and electronics. Hour Loop鈥檚 primary strategy is to bring most of its vendors鈥� product selections to the customers. It has advanced software that assists Hour Loop in identifying product gaps so it can keep such products in stock year-round including the entirety of the last quarter (holiday season) of the calendar year. In upcoming years, Hour Loop plans to expand its business rapidly by increasing the number of business managers, vendors, and SKUs.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to Hour Loop鈥檚 business strategy, product development and industry trends. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Hour Loop. While Hour Loop believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to Hour Loop on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in Hour Loop鈥檚 filings with the Securities and Exchange Commission, as the same may be updated from time to time. Thus, actual results could be materially different. Hour Loop undertakes no obligation to update these statements whether as a result of new information, future events or otherwise, after the date of this release, except as required by law.

Investor Contact

Finance Department, Hour Loop, Inc.

HOUR LOOP, INC.听
CONSOLIDATED BALANCE SHEETS听
(In U.S. Dollars, except for share and per share data)听
As of December 31, 2024 and 2023

The accompanying notes are an integral part of these consolidated financial statements.

HOUR LOOP, INC.听
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)听
(In U.S. Dollars, except for share and per share data)听
For the Years Ended December 31, 2024 and 2023

The accompanying notes are an integral part of these consolidated financial statements.

HOUR LOOP, INC.听
CONSOLIDATED STATEMENTS OF CASH FLOWS听
(In U.S. Dollars)听
For the Years Ended December 31, 2024 and 2023

The accompanying notes are an integral part of these consolidated financial statements.