{"id":744418,"date":"2023-03-31T17:58:24","date_gmt":"2023-03-31T21:58:24","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/"},"modified":"2023-03-31T17:58:24","modified_gmt":"2023-03-31T21:58:24","slug":"splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/","title":{"rendered":"Splash Beverage Group Reports 2022 Fourth Quarter and Full Year Financial Results"},"content":{"rendered":"
\n

Fort Lauderdale, FL, March 31, 2023 (GLOBE NEWSWIRE) — via NewMediaWire \u2013<\/u><\/a>Splash Beverage Group, Inc.<\/u><\/a>\u00a0(NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today reported financial results for the\u00a0 fourth quarter and full year period ended December 31, 2022.\u00a0 Investors are encouraged to read the Company\u2019s annual report on Form 10-K which was filed with the Securities and Exchange Commissions (the \u201cSEC\u201d), contains additional information, and is posted at\u00a0https:\/\/splashbeveragegroup.com\/<\/u><\/a>.<\/p>\n

\n Fourth Quarter and Full Year Financial Performance<\/b>\n <\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Revenues for the fourth quarter were $4.79 million compared to $3.06 million in the prior year period, an increase of 56%.\u00a0 Full-year gross revenues were $19.0 million compared to $11.8 million in the prior year period, an increase of 61%. \u00a0The increase in revenue was due to increases in the company\u2019s ecommerce platform Qplash and the beverage brands with Copa Di Vino at the lead.<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Gross margin for the fourth quarter significantly increased to $3.3 million compared to $339K in the prior year period.\u00a0 Full year gross margin was $5.9 million compared to $3.9 million in the prior year period.<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Fourth quarter net loss narrowed to $4.8 million compared to $6.2 million in the prior year period. \u00a0Net loss for the full year narrowed to $21.7 million, compared to $29.0 million in the prior year period. \u00a0Non-cash items were down to $7.4M vs $18.4 the prior year. Cash items were slightly up as expected from $10.7M to $14.3M due to several onetime expenses and an increase in marketing spend to support our retail chain distribution push and increase in freight to customer cost.\u00a0\u00a0<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0As of December 31, 2022, the company had total cash and cash equivalents of $4.4 million, compared to $4.2 million at December 31, 2021.<\/p>\n

Robert Nistico, Splash Beverage CEO, commented, \u201cOur 2022 full year results reflect solid progress in the execution of our long-term business plan.\u00a0 It was our first full year of operating results after our mid-year 2021 public offering and up-listing of our shares to the NYSE American. \u00a0\u00a0We\u2019ve grown gross revenue to more than $19 million while continuing to enhance gross margins. \u00a0We are doing the work internally to rachet down cost of goods and capture efficiencies. \u00a0We have made new investments in marketing and personnel in support of our brand\u2019s growth and still successfully narrowed net losses on a year over year basis.\u00a0 These investments resulted in significant new retail chain activity toward the back half of 2022 strengthening the base of our revenues as we head into 2023.\u00a0 \u00a0\u00a0<\/p>\n

\u201cWe\u2019ve successfully accessed the capital and credit markets when we needed to grow inventory, and all the while we have been adding to our top tier distribution network across all of our brands, and most importantly with some of the largest names in the retail chain industry.\u00a0 As I\u2019ve said many times, in the beverage industry, distribution is key, if you can\u2019t put product on the shelves, you won\u2019t succeed.\u00a0\u00a0<\/p>\n

\u201cWe\u2019ve invested heavily to build the infrastructure needed to put product through our distribution networks and into the hands of our consumers, and we expect the combination of infrastructure and distribution to translate into continued fast revenue growth shortening our path on our march toward profitability.\u201d<\/p>\n

\n About Splash Beverage Group, Inc.<\/b>\n <\/p>\n

Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splash\u2019s strategy is to rapidly develop early-stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution.\u00a0<\/p>\n

For more information visit:
www.SplashBeverageGroup.com<\/u><\/a>
www.copadivino.com<\/u><\/a>
www.drinksalttequila.com<\/u><\/a>
www.pulpo-loco.com<\/u><\/a>
www.tapoutdrinks.com<\/u><\/a><\/p>\n

\n Forward-Looking Statement<\/b>\n <\/p>\n

This press release includes \u201cforward-looking statements\u201d within the meaning of U.S. federal securities laws. Words such as \u201cexpect,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cbudget,\u201d \u201cforecast,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cbelieves,\u201d \u201cpredicts,\u201d \u201cpotential,\u201d \u201ccontinue\u201d and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, the risks disclosed in the Company\u2019s Annual Report on Form 10-K filed with the SEC on March 31, 2022, and in the Company\u2019s other filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.<\/p>\n

\n Contact Information:<\/b>
\n
Splash Beverage Group
Info@SplashBeverageGroup.com<\/u><\/a>
954-745-5815<\/p>\n

\n \n <\/p>\n

\n Consolidated Balance Sheets<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2022<\/td>\n\u00a0<\/td>\nDecember 31, 2021<\/td>\n<\/tr>\n
\n
\n Assets<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n\u00a0<\/td>\n$<\/td>\n4,431,745<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,181,383<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts Receivable, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,812,110<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,114,452<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid Expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n348,036<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n607,178<\/td>\n\u00a0<\/td>\n<\/tr>\n
Inventory<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,721,307<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,923,479<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other receivables<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n344,376<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,939<\/td>\n\u00a0<\/td>\n<\/tr>\n
Assets from discontinued operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n473,461<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,657,574<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,341,892<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-current assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deposit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49,290<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n330,886<\/td>\n\u00a0<\/td>\n<\/tr>\n
Goodwill<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n256,823<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n256,823<\/td>\n\u00a0<\/td>\n<\/tr>\n
Intangibles assets, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,851,377<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,604,512<\/td>\n\u00a0<\/td>\n<\/tr>\n
Investment in Salt Tequila USA, LLC<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n250,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n250,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
Right of use asset<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n750,042<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,031,472<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property and equipment, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n489,597<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n569,785<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total non-current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,647,129<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,043,478<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n\u00a0<\/td>\n$<\/td>\n17,304,703<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16,385,370<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Liabilities and Stockholders\u2019 Equity<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable and accrued expenses<\/td>\n\u00a0<\/td>\n$<\/td>\n3,383,187<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,913,459<\/td>\n\u00a0<\/td>\n<\/tr>\n
Right of use liability<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n268,749<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n294,067<\/td>\n\u00a0<\/td>\n<\/tr>\n
Related party notes payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n653,081<\/td>\n\u00a0<\/td>\n<\/tr>\n
Notes payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,080,257<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,667,812<\/td>\n\u00a0<\/td>\n<\/tr>\n
Liability to issue shares<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n91,800\u00a0\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Shareholder advances<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n390,500<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued interest payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n141,591<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n171,452<\/td>\n\u00a0<\/td>\n<\/tr>\n
Liabilities from discontinued operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n389,086<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,965,584<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,479,457<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term Liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Notes payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,536,319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n300,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
Right of use liability<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n480,666<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n732,686<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total long-term liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,016,985<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,032,686<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n$<\/td>\n7,982,569<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,512,143<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stockholders\u2019 equity:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common Stock, $0.001 par, 300,000,000 shares authorized, 41,085,520 and 33,596,232 shares issued and outstanding, at December 31, 2022 and December 31, 2021, respectively<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n41,086<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33,596<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid in capital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121,632,547<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n99,480,188<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated Other Comprehensive Income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(20,472<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated deficit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(112,331,027<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(90,640,557<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,322,134<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,873,227<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n$<\/td>\n17,304,703<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16,385,370<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n

\n Consolidated Statements of Operations<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2022<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n 2021<\/strong>\n <\/td>\n<\/tr>\n
Net revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n18,087,486<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n11,316,002<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of goods sold<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12,168,621<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,398,241<\/td>\n)<\/td>\n<\/tr>\n
Gross margin<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,918,865<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,917,761<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating expenses:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Contracted services<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,505,788<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,584,830<\/td>\n\u00a0<\/td>\n<\/tr>\n
Salary and wages<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,179,403<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,807,492<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0\u00a0Non-cash share-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,409,884<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,395,488<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other general and administrative<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,411,535<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,425,046<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Sales and marketing<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,806,888<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n787,827<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0Total operating expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,313,498<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33,000,683<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from continuing operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(21,394,633<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29,082,922<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income\/(expense):<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other Income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,632<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,068<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n643<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(251,497<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(442,807<\/td>\n)<\/td>\n<\/tr>\n
Gain from debt extinguishment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n176,082<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total other expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(245,429<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(262,450<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (loss) from continuing operations, net of tax<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(21,640,062<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29,345,372<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (loss) income from discontinued operations, net of tax<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(199,154<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n294,550<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0Gain on discontinued operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n148,747<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss) from discontinued operations, net of tax<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(50,407<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n294,550<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net loss<\/td>\n\u00a0<\/td>\n$<\/td>\n(21,690,469<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(29,050,822<\/td>\n)<\/td>\n<\/tr>\n
Other Comprehensive loss<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Foreign Currency Translation loss<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(20,472<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Comprehensive Income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(21,710,941<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29,050,822<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss per share – continuing operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic and Diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.58<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1.01<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average number of common shares outstanding – continuing operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic and Diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,389,990<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,900,292<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) per share – discontinued operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic and Diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.00<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.01<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average number of common shares outstanding – discontinued operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic and Diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,389,990<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,900,292<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Fort Lauderdale, FL, March 31, 2023 (GLOBE NEWSWIRE) — via NewMediaWire \u2013Splash Beverage Group, Inc.\u00a0(NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today reported financial results for the\u00a0 fourth quarter and full year period ended December 31, 2022.\u00a0 Investors are encouraged to read the Company\u2019s annual report on Form 10-K which was filed with the Securities and Exchange Commissions (the \u201cSEC\u201d), contains additional information, and is posted at\u00a0https:\/\/splashbeveragegroup.com\/. Fourth Quarter and Full Year Financial Performance \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Revenues for the fourth quarter were $4.79 million compared to $3.06 million in the prior year period, an increase of 56%.\u00a0 Full-year gross revenues were $19.0 million compared to $11.8 million in the prior year period, an increase of … <\/p>\n

Continue reading “Splash Beverage Group Reports 2022 Fourth Quarter and Full Year Financial Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-744418","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSplash Beverage Group Reports 2022 Fourth Quarter and Full Year Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Splash Beverage Group Reports 2022 Fourth Quarter and Full Year Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Fort Lauderdale, FL, March 31, 2023 (GLOBE NEWSWIRE) — via NewMediaWire \u2013Splash Beverage Group, Inc.\u00a0(NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today reported financial results for the\u00a0 fourth quarter and full year period ended December 31, 2022.\u00a0 Investors are encouraged to read the Company\u2019s annual report on Form 10-K which was filed with the Securities and Exchange Commissions (the \u201cSEC\u201d), contains additional information, and is posted at\u00a0https:\/\/splashbeveragegroup.com\/. 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Fourth Quarter and Full Year Financial Performance \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Revenues for the fourth quarter were $4.79 million compared to $3.06 million in the prior year period, an increase of 56%.\u00a0 Full-year gross revenues were $19.0 million compared to $11.8 million in the prior year period, an increase of … Continue reading \"Splash Beverage Group Reports 2022 Fourth Quarter and Full Year Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2023-03-31T21:58:24+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc5OTkzNSM1NTA0MzA1IzUwMDA5ODgyNg==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Splash Beverage Group Reports 2022 Fourth Quarter and Full Year Financial Results","datePublished":"2023-03-31T21:58:24+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/"},"wordCount":1132,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc5OTkzNSM1NTA0MzA1IzUwMDA5ODgyNg==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/splash-beverage-group-reports-2022-fourth-quarter-and-full-year-financial-results\/","name":"Splash Beverage Group Reports 2022 Fourth Quarter and Full Year Financial Results - 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