Vintage Wine Estates, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024
May 16, 2024 at 01:47 am IST
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Vintage Wine Estates, Inc. reported earnings results for the third quarter and nine months ended March 31, 2024. For the third quarter, the company reported revenue was USD 45.67 million compared to USD 64.65 million a year ago. Net loss was USD 26.15 million compared to USD 13.51 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to USD 0.23 a year ago. Diluted loss per share from continuing operations was USD 0.44 compared to USD 0.23 a year ago.
For the nine months, revenue was USD 186.93 million compared to USD 221.13 million a year ago. Net loss was USD 90.56 million compared to USD 141.12 million a year ago. Basic loss per share from continuing operations was USD 1.52 compared to USD 2.39 a year ago. Diluted loss per share from continuing operations was USD 1.52 compared to USD 2.39 a year ago.
Vintage Wine Estates, Inc. is a vintner in the United States, offering luxury wines produced by its heritage wineries, as well as several popular lifestyle wines. Its brands include Bar Dog, B.R. Cohn, Cameron Hughes, Cherry Pie, Firesteed and Kunde. It also produces hard cider, another form of wine, under the ACE Cider brand. Its segments include Direct-to-Consumer (DTC), Business-to-Business (B2B) and Wholesale. DTC segment sells wine and other merchandise directly to consumers through wine club memberships, at wineriesâ tasting rooms, at wine tasting events, and through eCommerce. B2B segment generates revenue primarily from the sale of private label wines and spirits, and custom services, such as fermentation, barrel aging, winemaking, procurement of dry goods, bottling and cased goods storage. Wholesale segment generates revenue from products sold to distributors, who then sell them to off-premise retail locations such as grocery stores, specialty and multi-national retail chains.
VINTAGE WINE ESTATES, INC. 
