Safety Shot, Inc. reported its financial results for the first quarter of 2025, revealing a significant decrease in revenue compared to the same period in 2024. The company generated $42,101 in sales, a decline of approximately 75% from $170,732 in the prior year. Despite this drop, the cost of sales also decreased sharply to $21,112 from $2,383,285, resulting in a gross profit of $20,989, a notable improvement from a gross loss of $2,212,553 in the previous year. However, the company still reported a net loss of $5,326,933, which is an improvement from the net loss of $15,674,671 recorded in the first quarter of 2024.
In terms of operational changes, Safety Shot, Inc. underwent a significant transformation in August 2023 when it acquired assets from GBB Drink Lab Inc., including the Sure Shot Dietary Supplement, which was launched in December 2023. This strategic acquisition and product launch are part of the company's efforts to expand its market presence and product offerings. The company has also seen an increase in its common stock outstanding, rising to 75,176,604 shares as of March 31, 2025, from 62,640,314 shares at the end of 2024, reflecting ongoing financing activities.
The company’s balance sheet shows total assets of $8,694,791 as of March 31, 2025, up from $7,338,403 at the end of 2024. This increase is primarily attributed to a rise in prepaid expenses and deposits, which totaled $2,230,285, compared to $920,189 at the end of the previous year. However, total liabilities also increased slightly to $9,237,429 from $9,511,455, indicating ongoing financial challenges. The company continues to face substantial accumulated deficits, which reached $120,417,280 as of March 31, 2025.
Safety Shot, Inc. has reported a cash flow used in operations of $4,628,114 for the first quarter of 2025, a decrease from $18,089,748 for the entire year of 2024. The company’s cash and cash equivalents stood at $329,285, down from $348,816 at the end of 2024. The company’s management has expressed concerns regarding its ability to continue as a going concern, given the significant accumulated deficits and negative working capital of $5,153,844. Looking ahead, Safety Shot, Inc. aims to leverage its recent product launch and strategic acquisitions to improve its financial performance, although it acknowledges the risks and uncertainties that may impact its future results.
About Safety Shot, Inc.
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