Vinco Ventures today (Nov. 23, 2020) announced results for the third quarter ended September 30, 2020.

The key highlights of the third quarter

The company reported a revenue of  $4.25 million for the three months ended September 30, 2020,  with an increase of 20.34% compared to the third quarter of 2019.The company’s gross margin increased to 37.2% as compared to third quarter 2019 gross margin of 28.0%. The company’s gross profit increased by $593,696 as compared to the third quarter of 2019 gross profit, an increase of 60.06%.

The company adjusted EBITDA, a non-GAAP measure, totalled a negative $0.183 million in the third quarter of 2020, compared to a negative $1.317 million in the third quarter of 2019.

The company suffered a net loss of $2.87 million, or ($0.30) per basic and diluted share in the reported quarter, compared to a net loss of $2.63 million, or ($0.44) per basic and diluted share in the third quarter of 2019.

Key highlights for the nine months of 2020 ended September 30,2020.

For the first nine months of 2020, the company had a net loss of $3.20 million, or $0.29per basic and diluted share, compared to a net loss of $5.78 million, or $1.00 per basic and diluted share in the first nine months of 2019.

The company reported adjusted EBITDA, a non-GAAP measure, totalled negative $1.100 million in the first nine months of 2020, compared to negative $1.511 million in the first nine months of 2019.

 

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