Amaze Holdings Reports 42% Revenue Decline and Increased Net Loss in Q1 2025

Amaze Holdings, Inc., formerly known as Fresh Vine Wine, Inc., reported a significant shift in its financial performance for the first quarter of 2025, following its acquisition of Amaze Software, Inc. on March 7, 2025. The company generated revenues of $60,214, a decrease of 42% from $104,568 in the same period last year. The gross loss improved to $(2,576) from $(111,248) year-over-year, indicating a better cost management strategy despite the decline in revenue. The net loss for the quarter was approximately $2.1 million, or $(0.13) per share, compared to a net loss of $1.2 million, or $(0.08) per share, in the prior year.

The financial results reflect the integration of Amaze Software, which is expected to enhance the company's e-commerce capabilities. The acquisition was part of a strategic pivot towards a platform-based digital commerce business aimed at empowering creators. The company reported a working capital deficit of approximately $23.1 million as of March 31, 2025, with total current liabilities reaching $24.8 million against current assets of $1.7 million. This financial position raises concerns about the company's ability to continue as a going concern without additional financing.

Amaze Holdings has made notable operational changes, including the introduction of new product lines and a focus on e-commerce and subscription services. The company reported that 65.3% of its revenue came from direct-to-consumer sales, while wholesale sales accounted for 4.7%. The e-commerce segment, which includes subscription services, is expected to drive future growth as the company leverages its platform to enhance creator engagement and consumer reach.

The company has also seen a significant increase in selling, general, and administrative expenses, which rose to approximately $1.9 million from $1.1 million year-over-year. This increase is attributed to higher operational costs associated with the new business model, including legal and professional fees related to the merger. The company anticipates that the second quarter of 2025 will provide a clearer picture of its consolidated operations as it integrates the newly acquired business.

Looking ahead, Amaze Holdings is focused on expanding its market presence and enhancing brand recognition through strategic marketing initiatives. The company plans to leverage its existing creator base to amplify brand visibility and drive sales. However, it acknowledges the need for additional financing to sustain operations and meet its liquidity needs, which may involve dilutive equity offerings or other financing arrangements. The management's outlook remains cautious, emphasizing the importance of securing adequate funding to support ongoing operations and growth initiatives.