BEACN Announces Financial and Operational Results Year Ended December 31, 2023

BEACN Wizardry & Magic Inc. (TSXV:BECN) has reported its financial results for the year ended December 31, 2023. The company, which had to delay the publication of its annual financial statements, has now filed them on SEDAR and applied for trading reinstatement on the TSXV.

For 2023, BEACN reported revenues of $2,933,180, down from $4,325,458 in 2022. The company posted a gross profit of $1,079,875 (36.8%) and a net loss of $2,281,917. Despite a challenging year, the last half saw 21% growth, with $951,370 in sales in Q4 2023 alone.

BEACN continues to invest in product development and plans to introduce new products soon. The company is expanding its B2B sales program and expected this, alongside its strategic distribution network, to boost future sales and profitability.

CEO Craig Fraser highlighted the company’s efforts in strengthening its product development and B2B sales strategies in 2023. The introduction of the BEACN Mic Stand in Q4 2023 further supports these goals.