Company: CHUC
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001437749-25-035731
Chunk: 34

Company: Charlie's Holdings, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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876,000 for the three months ended September 30, 2024, due primarily to increased sales and gross profit. Net income (loss) is determined by adjusting loss from operations by the following items:

  Gain on sale of PMTA assets. For the three months ended September 30, 2025, we recorded a $1,000,000 gain related to the sales agreement entered with R. J. Reynolds Vapor Company.  

  Interest Expense. For the three months ended September 30, 2025, and 2024, we recorded interest expense related to notes payable of approximately $37,000 and $146,000, respectively. The decreas...  
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Net Income (Loss)

For the three months ended September 30, 2025, we incurred a net income of $624,000 as compared to a net loss of $1,022,000 for the same period in 2024.

Results of Operations for the Nine Months Ended September 30, 2025 Compared to the Nine Months Ended September 30, 2024

Regarding results from operations for the nine months ended September 30, 2025, we generated revenue of approximately $11,934,000, as compared to revenue of $6,718,000 for the nine months ended September 30, 2024. This $5,216,000 increase in revenue was due primarily to an increase of $3,230,000 in sales of our nicotine and nicotine-alternative vapor products, and an increase of $1,987,000 in sales of other alternative products distributed through Don Polly.

We generated a net income for the nine months ended September 30, 2025, of approximately $4,368,000 as compared to a net loss of $3,034,000 for the nine months ended September 30, 2024.

A review of the nine months ended September 30, 2025, follows:

                                                       For the nine months ended                                                                        
                                                       September 30,                                                    Change                          
                                                       2025                                       2024                  Amount                          
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  ($ in thousands)                                                                                                                                      
  Product revenue, net                                 $                              11,934      $          6,718      $           5,216