Bespoke Extracts, Inc. SEC 10-Q Report
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Bespoke Extracts, Inc., a company operating in the regulated cannabis markets in the United States, has released its Form 10-Q report for the first quarter of 2025. The report highlights the company's financial performance and operational achievements, reflecting its strategic focus on the production and sale of marijuana-infused products through its subsidiary, Bespoke Extracts Colorado, LLC.
Financial Highlights
- Sales: $263,159, reflecting a slight increase from the previous year due to increased direct sales of branded pre-rolled joints and joint production services to licensed dispensaries in Colorado.
- Gross Profit: $110,779, showing an improvement over the previous year, attributed to increased efficiencies in production.
- Loss from Operations: $(245,338), a reduction in loss compared to the previous year, primarily due to decreased operating expenses.
- Net Loss: $(260,521), or $(0.02) per share, an improvement from the previous year's net loss, driven by reduced operating expenses and increased production efficiencies.
Business Highlights
- Revenue Segments: The company operates in the regulated cannabis markets in the United States, specifically through its subsidiary Bespoke Extracts Colorado, LLC, which focuses on manufacturing marijuana-infused products. All sales are generated in North America, specifically in the State of Colorado.
- Geographical Performance: For the three months ended March 31, 2025, 100% of the company's net sales were generated in North America, specifically in Colorado. This indicates a concentrated market presence in this region.
- Sales Units: The company reported increased direct sales of branded pre-rolled joints and joint production services to licensed dispensaries in Colorado, contributing to the sales figures for the period.
- New Product Launches: Beginning January 1, 2025, the company rebranded its product offerings in Colorado as The Joint Company, which likely includes new product lines or variations under this brand.
- Operational Efficiency: The company achieved increased efficiencies in the production of pre-rolled joints, which contributed to a decrease in the cost of goods sold. This was partially offset by increased packaging and testing costs due to the development and launch of new products.
- Future Outlook: The company plans to expand its focus to regulated cannabis markets in the United States, indicating potential growth and diversification in its operational strategy.
SEC Filing: Bespoke Extracts, Inc. [ BSPK ] - 10-Q - Jun. 30, 2025