Jupiter Wellness, Inc. Announces First Quarter 2023 Financial Results

 Source:  Jupiter Wellness, Inc. 5/15/2023

First Quarter Revenues in 2023 Were $1,121,676 Compared to Revenues of $721,629 in First Quarter of 2022

Jupiter Wellness, Inc. (Nasdaq:JUPW), a therapeutic company focused on hair metabolism and skin therapies, announced today its financial results for the First Quarter ended March 31, 2023. The First Quarter 10-Q in its entirety is accessible at https://jupiterwellness.com/investors/sec-filings/.

Revenues

The Company generated $1,121,676 in revenues for the three months that ended March 31, 2023, compared to $721,629 for the same period in 2022.

Operating Expenses

The Company reported operating expenses of $1,496,537 for the three months that ended March 31, 2023, compared to $2,978,933 for the same period in 2022.

Income/Losses

Net losses were $1,308,174 for the three months that ended March 31, 2023, compared to $2,919,775 for the same period in 2022.

Brian John, CEO of Jupiter Wellness, said, "I am thrilled with our team's progress this quarter, demonstrating substantial revenue growth and a significant reduction in operating expenses. We recognize the presence of net losses, but they continue to decrease as we push toward being cash flow positive."

About Jupiter Wellness
Jupiter Wellness is a diversified company that supports health and wellness by researching and developing over-the-counter (OTC) products and intellectual property. The Company's product pipeline addresses a range of conditions, including hair loss, psoriasis, and vitiligo. Revenue is generated through the sales of OTC and consumer products and licensing royalties.