| MINIM INC. | ||||||
| Consolidated Statement of Operations | ||||||
| (Unaudited) | ||||||
| (in thousands, except per share data) | ||||||
| Three Months Ended March 31,
(unaudited) | ||||||
| 2022 | 2021 | |||||
| Net sales | $ | 13,299 | $ | 15,018 | ||
| Cost of goods sold | 9,108 | 9,914 | ||||
| Gross profit | 4,191 | 5,104 | ||||
| Operating expenses: | ||||||
| Selling and marketing | 3,652 | 3,174 | ||||
| General and administrative | 1,451 | 1,077 | ||||
| Research and development | 1,543 | 1,389 | ||||
| Total operating expenses | 6,646 | 5,640 | ||||
| Operating loss | (2,455) | (536) | ||||
| Other income (expense): | ||||||
| Interest expense, net | (78) | (28) | ||||
| Other, net | –– | 20 | ||||
| Total other income (expense) | (78) | (8) | ||||
| Loss before income taxes | (2,533) | (544) | ||||
| Income taxes | 6 | 2 | ||||
| Net loss | $ | (2,539) | $ | (546) | ||
| Net loss per share: | ||||||
| Basic and diluted | $ | (0.06) | $ | (0.02) | ||
| Weighted average common and common equivalent shares: | ||||||
| Basic and diluted | 46,003 | 35,254 | ||||
Minim Reports 27% Sequential Growth in First Quarter 2022 Revenue to $13.3 Million
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