Limitless X Holdings Reports 78.5% Revenue Decline and Increased Net Loss in Latest Quarter

Limitless X Holdings Inc. reported significant financial challenges in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated total net revenue of $302,592 for the three months ended June 30, 2025, a decrease of 78.5% compared to $1,405,951 in the same period of the previous year. For the six months ending June 30, 2025, revenue was $554,528, down 77.2% from $2,428,476 in the prior year. The decline in revenue is attributed to a shift in marketing strategies and changes in performance marketers and platforms, which adversely affected product sales.

The company's cost of sales also decreased, amounting to $86,840 for the three months ended June 30, 2025, compared to $413,201 in the same period of 2024. This reduction reflects a decrease in operational activities, leading to lower costs for freight, inventory, and supplies. However, the gross profit margin fell significantly, with gross profit for the three months at $215,752, down from $992,750 a year earlier. Operating expenses totaled $993,051 for the quarter, a decrease from $1,514,122 in the previous year, primarily due to reduced advertising and marketing expenditures.

The company reported a net loss of $4,603,525 for the three months ended June 30, 2025, compared to a loss of $653,795 in the same period of 2024. This substantial increase in losses is largely due to a loss on debt settlement of $3,866,368, which was significantly higher than the previous year's figure of $17,667. For the six months ended June 30, 2025, the net loss reached $39,222,938, compared to a loss of $1,731,938 in the same period of 2024, reflecting a dramatic increase in operational challenges.

Operationally, Limitless X Holdings has seen a notable increase in its liabilities, with total current liabilities reported at $5,304,531 as of June 30, 2025, down from $13,192,569 at the end of 2024. The company’s accumulated deficit has grown to approximately $78.1 million. The filing indicates that the company is actively seeking additional capital to support its operations, as it has not faced liquidity issues in settling payables or repaying loans. However, the company acknowledges that its ability to continue as a going concern is uncertain, given the competitive market conditions and the need for further financing.

Looking ahead, Limitless X Holdings plans to enhance its operational strategies and marketing efforts to improve revenue generation. The company is also focused on addressing its internal control weaknesses, particularly in accounting and financial reporting, by hiring additional personnel to ensure proper segregation of duties and enhance oversight. The management remains committed to monitoring its financial health and implementing necessary improvements to stabilize its operations and financial performance.