Beeline Holdings Reports $1.83M Revenue in Q1 2025, Faces Increased Net Loss

Beeline Holdings, Inc. reported a significant increase in net revenues for the first quarter of 2025, totaling $1.83 million, compared to $597,000 in the same period of 2024. This growth was primarily driven by the inclusion of Beeline Financial's operations, which generated $1.35 million in revenue from mortgage lending activities. The company experienced a net loss of $6.93 million for the quarter, a substantial increase from a loss of $1.29 million in the prior year, largely attributed to higher operating expenses and interest costs.

The company's operating expenses surged to $6.75 million in Q1 2025, up from $1.06 million in Q1 2024. This increase was influenced by higher salaries and benefits, which rose to $2.33 million from $350,000, as well as increased marketing and professional fees. The loss from operations for Beeline Financial was reported at $2.31 million, reflecting the costs associated with scaling its mortgage lending business. Bridgetown Spirits, the company’s spirits segment, reported a decline in net sales to $482,000 from $597,000, with a gross profit margin dropping to 13% from 23% due to lower sales volume.

Strategically, Beeline Holdings underwent a merger with Bridgetown Spirits Corp. in October 2024, which has since been integrated into its operations. The merger has allowed Beeline to diversify its business model, combining mortgage lending with spirits manufacturing and marketing. The company also launched a new proprietary software platform aimed at enhancing its digital mortgage services, which is expected to improve operational efficiency and customer experience.

As of March 31, 2025, Beeline Holdings had total assets of $63.75 million, a decrease from $66.52 million at the end of 2024. The company reported a working capital deficit and is actively seeking additional financing to support its operations and growth initiatives. Management has indicated that future success will depend on improving revenue generation and securing necessary capital, as the company does not currently have sufficient cash resources to meet its working capital needs for the next 12 months. The outlook remains cautious, with management emphasizing the need for strategic execution in both the mortgage and spirits segments to drive profitability.