Company: ORBS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023549
Chunk: 63

Company: Eightco Holdings Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 -71.28%
  
    Net income (loss) 
    $(29,562,461) 
    $3,212,482  
    $(32,774,943) 
    $-1,019.96%

Revenue

For
the nine months ended September 30, 2025, revenues were $22,793,160, compared to $19,298,336 for the nine months ended September 30,
2024, representing a increase of $3,494,824, or 18.11%. The increase was driven primarily by the Company’s cell phone business.

Cost
of Revenues

Cost
of revenues increased to $20,930,455 for the nine months ended September 30, 2025, compared to $14,980,682 for the nine months ended
September 30, 2024, an increase of $5,9459,773, or 39.71%.

The
increase reflects a combination of:

●Product
                                            mix shifts toward lower-margin items;

●Increased
                                            revenues

Gross
Profit

Gross
profit decreased to $1,862,705 for the nine months ended September 30, 2025, compared to $4,317,654 for the nine months ended September
30, 2024, a decline of $2,454,949.

The
decrease resulted from:

●Write-downs
                                            of inventory related to the Company’s exit from the liquidation model;

●Write-downs
                                            of certain accounts receivable associated with customers tied to the liquidation operations
                                            whose collectability deteriorated; and

●Lower
                                            overall margin profile of product sales in 2025.

These
items reflect the Company’s decision to eliminate unprofitable arrangements, which is expected to benefit future cash flow and
margin profile.

Operating
Expenses

Selling,
general and administrative (“SG&A”) expenses were $10,683,465 for the nine months ended September 30, 2025, compared
to $9,614,684 for the nine months ended September 30, 2024, an increase of $1,068,781, or 11.11%.

Operating
expenses in 2025 reflects offsetting factors:

●Increased
                                            professional fees, compliance costs, advisory services, and custodial-related expenses associated
                                            with the Company’s Digital Asset Treasury strategy and capital markets activities;

●Reductions
                                            in personnel, back-office functions