April 16, 2024 08:00 ET | Source: American Rebel Holdings Inc
Nashville, TN, April 16, 2024 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel, and American Rebel Beer (americanrebelbeer.com), announced its financial results for the year ended December 31, 2023. Investors are encouraged to read the Company’s annual report on Form 10-K, which was filed with the Securities and Exchange Commissions (the “SEC”) and contains additional information and is posted at https://americanrebel.com/investor-relations.
2023 Financial Highlights:
- Fiscal 2023 revenues rose to $16.2 million compared to $8.4 million in the prior year. The increase was primarily attributable to contribution from the acquisition of Champion Safe, which closed on July 29, 2022, as well as a general increase from Champion’s average quarterly sales of product.
- Fourth quarter revenues totaled $4.8 million compared to $3.8 million in the prior year period. This increase was again attributable to increases at Champion Safe.
- Gross margin for the Year ended December 31, 2023, was $3.0 million compared to $1.9 million, in the prior year. The increase in gross margin was driven by contributions from Champion Safe.
- Net loss for the year ended December 31, 2023, was $11.1 million compared to a loss of $7.1 million in the prior year period. The increased loss was primarily due to one-time transactional costs related to financing growth, as well costs related to the Champion acquisition and integration, inventory write-down, goodwill impairment, and stock compensation associated with the convertibility of the Company’s Series A preferred stock to members of management.
Current Business Highlights:
- Launched a $19.9 Million Regulation A Offering – Anyone 18 years or older can log onto the American Rebel Public Offering website at invest.americanrebel.com and subscribe to the offering.
- Launched American Rebel Beer – Anyone 21 years or older can log onto americanrebelbeer.com and sign up for a free coozie and updates about when American Rebel Beer will be available in their area.
Andy Ross, Chief Executive Officer of American Rebel commented, “2023 was a huge year for America’s Patriotic Brand. We continued to focus on driving growth within our core safe business and saw strong results nearly doubling revenue in that product line. During the year we also leaned into our unique brand identity to differentiate our product set with the launch of America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem Singing, Stand Your Ground Beer – American Rebel Beer. Our beer is well positioned to gain market share in the $110+ billion beer market as we’ve partnered with the nation’s top beverage solutions company and largest co-packer. Key to the next phase for American Rebel will be the funds we raise through our recently announced Reg A+ offering. This unique approach to raising funds allows our strongest supporters, our customers, to be a part of our journey into the future.”
About American Rebel Holdings, Inc.
American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit www.americanrebel.com and www.americanrebelbeer.com. For investor information, visit www.americanrebel.com/investor-relations.
The Reg A Offering will be made by means of the Offering Circular. The securities offered by American Rebel are highly speculative. Investing in shares of American Rebel involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following the offering, it may not continue. American Rebel intends to list the Series C Preferred Stock offered under Offering Circular on Nasdaq Capital Market and doing so entails significant ongoing corporate obligations including but not limited to disclosure, filing and notification requirements, as well compliance with applicable continued quantitative and qualitative listing standards. The listing of the Company’s Series C Preferred Stock on Nasdaq Capital Market is not a condition of the Company’s proceeding with the Public Offering, and no assurance can be given that our application to list on Nasdaq Capital Market will be approved or that an active trading market for our Series C Preferred will develop. For additional information on American Rebel, the Offering and any other related topics, please review the Offering Statement that can be found at: https://www.sec.gov/Archives/edgar/data/1648087/000149315224009903/form253g2.htm. Additional information concerning risk factors related to the Offering, including those related to the business, government regulations, intellectual property and the offering in general, can be found in the section titled “Risk Factors” of the Offering Statement.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued increase in revenues, actual receipt of funds under the Reg A Offering, effects of the offering on the trading price of our securities, implied or perceived benefits resulting from the receipt of funds from the offering, actual launch timing and availability of American Rebel Beer, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
Company Contact:
info@americanrebel.com
Investor Relations:
Brian Prenoveau
MZ North America
+1 (561) 489-5315
AREB@mzgroup.us
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