ToughBuilt Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 21, 2023 at 04:16 pm EDT
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ToughBuilt Industries, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 18.88 million compared to USD 17.89 million a year ago. Net loss was USD 5.73 million compared to USD 12.14 million a year ago. Basic loss per share from continuing operations was USD 23.4 compared to USD 614.2498 a year ago.
For the six months, revenue was USD 39.09 million compared to USD 35.11 million a year ago. Net loss was USD 14 million compared to USD 24.24 million a year ago. Basic loss per share from continuing operations was USD 59.8 compared to USD 1,467.0496 a year ago.
Toughbuilt Industries, Inc. is engaged in designing, manufacturing, and distributing tools and accessories to the building industry. The Company markets and distributes various home improvement and construction product lines for both Do-It-Yourself (DIY) and professional markets under the TOUGHBUILT brand name. Its business is based on development of products, primarily in tools and hardware category, with particular focus on building and construction industry. Its three categories contain a total of approximately 19 product lines, consists of soft goods, which includes kneepads, tool bags, pouches and tool belts; metal goods, which consists of sawhorses, tool stands and workbench; and utility products, which includes utility knives, aviation snips, shears, lasers and levels, tape measures and chalk reels, striking tools, garden and landscaping tools, and pliers and clamps. It also has various additional categories and product lines in various stages of development.
TOUGHBUILT INDUSTRIES, INC. 
