HUMBL, INC. Reports Significant Turnaround in Q3 2023 10-Q Filing

HUMBL, INC., a company specializing in consumer and commercial digital solutions, has released its Form 10-Q report for the third quarter of 2023. The report highlights significant financial improvements and strategic business developments aimed at consolidating and expanding its market presence.

Financial Highlights

• Revenues: $676,245. The company experienced a significant increase in revenues compared to the previous year, indicating growth in sales activities.
• Gross Profit (Loss): $383,970. The gross profit improved substantially from the previous year, reflecting better cost management and increased sales.
• Operating Loss: $(11,013,831). The operating loss decreased compared to the previous year, suggesting improvements in operational efficiency.
• Net Income (Loss): $1,060,603. The company reported a net income for the period, a significant turnaround from the net loss in the previous year.
• Net Income (Loss) Per Share - Basic: $0.00. The earnings per share reflect the company's return to profitability.

Business Highlights

• Revenue Segments: HUMBL operates in two main divisions: HUMBL Consumer and HUMBL Commercial. The Consumer division includes the HUMBL Wallet, HUMBL.com website, and HUMBL Tickets, while the Commercial division offers white-label solutions for government and sports leagues.
• Geographical Performance: All of HUMBL's sales are from North America, indicating a concentrated market presence in this region.
• New Product Launches: HUMBL has introduced the HUMBL Wallet, a 4.9-star application available on major app stores, which consolidates various services for customers and helps verify customers and merchants.
• Future Outlook: HUMBL aims to consolidate its platform into HUMBL.com to enhance revenue-producing operations and improve liquidity. The company is also focusing on rolling out its digital wallet for government use in California and expanding its role as the Official Technology Platform of the Arena Football League through 2028.

SEC Filing: HUMBL, INC. Reports Significant Turnaround in Q3 2023 10-Q Filing [ OTC:HMBL ] - 10-Q - Nov. 13, 2023