Stablecoin Development Corp (SDEV) Q2 2024 Earnings Report

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Previous Report: Q1 2024

Next Report: Q3 2024

SDEV Q2 2024 EPS Results

Actual EPS-$6.85

Consensus EPS-$6.13

Beat/MissMissed by -$0.72

One Year Ago EPS-$222.25

SDEV Q2 2024 Revenue Results

Actual Revenue$2.40M

Expected Revenue$2.40M

Beat/MissMet expectations

YoY Revenue Growth-47.94%

Earnings Announcement Details

QuarterQ2 2024

Date08/13/2024

TimeAfter Close

Conference CallTuesday, August 13, 2024

SDEV Upcoming Earnings

Stablecoin Development Corp's next earnings date is estimated for November 5, 2026, based on past reporting schedules.

Q2 2024 Earnings Call Audio

SDEV Q2 2024 Earnings Call

0:00 / 0:00

Q2 2024 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2024 Earnings Call Summary

Q2 2024

Earnings Call Date:Aug 13, 2024|

% Change Since:

Earnings Call Sentiment|Neutral

The earnings call presented a mixed outlook, with strong growth and efficiency improvements in the eyecare segment, but challenges in overall revenue and net loss due to declines in wound care sales and low cash reserves.

Company Guidance

During the NovaBay Pharmaceuticals Q2 2024 earnings call, the company reported a strong performance in its eyecare segment, with sales of eyecare products reaching $4.8 million for the first half of the year. They are on track to meet their annual target of $10 million in eyecare sales. The company has successfully reduced sales and marketing expenses by 13% year-over-year while achieving an 8% increase in eyecare revenue for Q2 2024, primarily through online OTC channels. Subscribe & Save customers on Amazon, their largest sales channel, grew by 16% in the first half of 2024, contributing to approximately 24% of online Avenova revenue. The gross margin improved to 66% in Q2 2024 from 49% in the prior year due to a shift towards higher-margin eyecare products. NovaBay's strategic focus remains on efficient growth within the U.S. dry eye market, anticipated to exceed $4.8 billion by 2030.

Eyecare Business Growth

Sales from eyecare products reached $4.8 million for the first half of 2024, showing growth in the eyecare segment driven by Avenova branded products.

Increase in Subscription Customers

The number of Avenova Subscribe & Save customers on Amazon increased by 123% since the beginning of 2022, 64% since the beginning of 2023, and 16% for the first 6 months of 2024.

Record Prime Day Sales

Avenova sales were 17% higher than Prime Day 2023 and 40% higher than Prime Day 2022.

Gross Margin Improvement

Gross margin on net product revenue for Q2 2024 was 66%, compared with 49% for Q2 2023, due to increased sales of higher-margin eyecare products.

Reduction in Marketing Expenses

Sales and marketing expenses for Q2 2024 declined 13% from the prior year, highlighting improved cost efficiency.

SDEV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 05, 2026	2026 (Q3)	- / -	-1.15	―
Jul 31, 2026	2026 (Q2)	- / -1.32	-1.652	19.92% (+0.33)
May 20, 2026	2026 (Q1)	- / 3.33	-3.325	200.27% (+6.66)
Mar 26, 2026	2025 (Q4)	- / -	-0.271	―
Nov 07, 2025	2025 (Q3)	- / -1.15	-3	61.67% (+1.85)
Aug 07, 2025	2025 (Q2)	- / -0.33	-1.37	75.91% (+1.04)
May 08, 2025	2025 (Q1)	- / -	―	―
Apr 02, 2025	2024 (Q4)	-1.20 / 23.45	-26.25	189.33% (+49.70)
Nov 07, 2024	2024 (Q3)	-1.52 / -3.00	-64.75	95.37% (+61.75)
Aug 13, 2024	2024 (Q2)	-6.13 / -6.85	-222.25	96.92% (+215.40)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed