Company: IPST
Filing Date: 2025-12-19
Form Type: S-1/A
Source: 0001213900-25-123872
Chunk: 140

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-19
Form: S-1/A
Chunk 140
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 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 Business 
 2025                              |     | Nine Months Ended   
 September 30,       
 (rounded to $000’s) |      2024 |     |   |    Change |     |   |            |   |
|:----------------------------------|:----|:--------------------|----------:|:----|:--|----------:|:----|:--|:-----------|:--|
| Wholesale                         |     | $                   |   957,000 |     | $ | 1,299,000 |     | $ | (342,000   | ) |
| Retail                            |     |                     | 1,757,000 |     |   | 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 products sales included the impact of sales of our Special Operations Saluteproduct line with sales associated with that product line of approximately $401,000 and $974,000 for the nine months ended September30, 2025 and 2024. The year over year approximately $769,000 decrease included is the result of the timing of orders fulfilled through the DtC retailer channel, which consisted of large load in by the retailers in the fourth quarter 2024, modest reorders in the first quarter 2025 as the retailers moved through their inventory and our reduced spend on digital advertising in 2025 as we focused on our cryptocurrency transition. A portion of the reduction in retail revenue in nine months ended September30, 2025 versus 2024 was also from the reduction of hours in some of our brick and mortar retail locations as we made the decision to close some locations on Mondays and Tuesday to reduce labor expenses on our slowest retail sales days during the quarter. During the same period