Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 88

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 88
---
     (1,309.41) 
     (1,504.02)
  
    Net Loss – Noncontrolling Interest 
     (1.41) 
     (18.97)
  
    Net Loss – attributed to 60 Degrees Pharmaceuticals, Inc. 
     (1,308.01)% 
     (1,485.06)%

4. Comparison of the Years Ended December
31, 2024, and 2023

Product Revenues - net of Discounts and Rebates, Cost of Revenues,
Gross Profit (Loss), and Gross Margin

    For the Year Ended
    December 31,  

    Consolidated Statements of Operations Data: 
    2024  
    2023  
    $ Change  
    % Change 
  
    Product Revenues – net of Discounts and Rebates 
    $607,574  
    $253,573  
    $354,001  
     139.61%
  
    Cost of Revenues 
     384,765  
     474,550  
     (89,785) 
     (18.92)
  
    Gross Profit (Loss) 
    $222,809  
    $(220,977) 
    $443,786  
     (200.83)%
  
    Gross Margin % 
     36.67% 
     (87.15)% 

Product Revenues - net of Discounts and Rebates

Our product revenues - net of discounts and rebates
were $607,574 for the year ended December 31, 2024, as compared to $253,573 for the year ended December 31, 2023. For the year ended
December 31, 2024, our U.S. pharmaceutical distributor accounted for 95% of our total net product sales and Kodatef sales to our Australian
distributor accounted for 5% of total net product sales (72% and 21% for the year ended December 31, 2023, respectively). Domestic commercial
product sales are primarily driving increased sales volume during the period.

49

We offer discounts and rebates to the civilian
U.S. supply chain distribution channel. We record sales when our 3PL partner transfers boxes into their title model. Discounts and rebates
offered to our 3PL partner amount to 12% (lower rates available upon reaching larger revenue tiers