HUMBL, INC. Releases Q3 10-Q Report Highlighting Financial and Business Performance

HUMBL, INC., a company specializing in mobile wallet solutions, marketplace services, and blockchain technology, has released its Form 10-Q report for the third quarter. The report provides a detailed overview of the company's financial performance and operational highlights, showcasing both growth and strategic initiatives aimed at future expansion.

Financial Highlights

• Revenues: $342,379, reflecting an increase from $270,685 in the prior year period, indicating growth in sales across services, merchandise, and tickets.
• Gross Profit: $49,910, a decrease from $147,296 in the previous year, suggesting increased cost of revenues impacting profitability.
• Operating Loss: $(2,565,730), compared to $(3,685,196) in the prior year, showing a reduction in operating losses due to lower operating expenses.
• Net Income (Loss): $(232,022), a significant improvement from a loss of $(4,429,896) in the previous year, primarily due to gains from discontinued operations and sale of assets.
• Net Loss Per Share - Basic: $(0.00), consistent with the prior year, indicating no change in per-share loss despite changes in net income.

Business Highlights

• Revenue Segments: HUMBL operates in three principal verticals: HUMBL Mobile Wallet, HUMBL Marketplace, and HUMBL Blockchain Services. Revenue is generated from transaction fees, value-added services, and advertising, with specific revenue streams from services like Ixaya, merchandise sales, and ticketing.
• Geographical Performance: All of HUMBL's sales are currently from North America, indicating a concentrated market presence in this region.
• New Product Launches: The company has launched the HUMBL Wallet, a 4.9-star application available on major app stores, which consolidates various services for customers and helps verify customers and merchants.
• Future Outlook: HUMBL expects that the consolidation of its platform into HUMBL.com and its arrangement with the Arena Football League (AFL) will lead to revenue-producing operations that improve liquidity moving forward. The company is also focused on mitigating shareholder dilution through strategic agreements related to its Class C Preferred Stock.

SEC Filing: HUMBL, INC. Releases Q3 Highlighting Financial and Business Performance [ OTC:HMBL ] - 10-Q - May. 20, 2024