Company: IPST
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001788230-25-000175
Chunk: 144

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 1
Chunk 144
---
 (519,551)Other (Income) / Expense(220,960)656 (221,616)Total Other Expense245,614,655 12,040,212 233,574,443 Income / (Loss) Before Income Taxes235,365,685 5,435,559 229,930,126 Income Taxes(49,429,916)(9,150)(49,420,766)Net Income / (Loss)$185,935,769 $5,426,409 $180,509,360 Net Income / (Loss) Per Share, Basic $43.58 $247.40 $(203.82)Weighted Average Common Shares Outstanding, Basic4,236,73321,428$4,215,305 Net Income / (Loss) Per Share, Diluted$43.58 $(62.42)$106.00 Weighted Average Common Shares Outstanding, Diluted4,236,733 228,9914,007,742

68

Net Sales — Spirits Business

Nine Months Ended September 30,(rounded to $000’s)Total Sales - Spirits Business20252024ChangeProducts$2,714,000 $4,051,000 $(1,337,000)Services780,000 1,259,000 (479,000)$3,494,000 $5,310,000 $(1,816,000)

Net sales were approximately $3,494,000 and $5,310,000 for the nine months ended September 30, 2025 and 2024, respectively, a decrease of approximately $1,816,000, or 34.2%, period over period. 

The approximately $1,337,000 net decrease in products sales, period over period, included:

Products Sales - Spirits BusinessNine Months Ended September 30,(rounded to $000’s) 20252024ChangeWholesale$957,000 $1,299,000 $(342,000)Retail1,757,000 2,526,000 (769,000)Third Party— 226,000 (226,000) $2,714,000 $4,051,000 $(1,337,000)

•The approximately $342,000 decrease in wholesale product sales was primarily the result of reducing focus on lower margin items and the timing of orders through the wholesale channel moving between quarters.

•Retail