LQR House Inc. Reports 27.93% Year-Over-Year Revenue Growth in December 2024 Compared to December 2023
Online, January 14, 2025 (Newswire.com) - LQR House Inc. (the "Company" or "LQR House") (NASDAQ:LQR), a niche ecommerce platform specializing in the spirits and beverage industry, is pleased to announce a 27.93% increase in revenue for December 2024 compared to December 2023, showcasing the Company's continued growth and resilience in a dynamic market.
LQR House recorded revenues of $341,896.64 for December 2024, compared to $267,238.41 for December 2023. The Company believes that this growth underscores the success of its strategic initiatives, including the cultivation of enduring partnerships and the expansion of its marketing services that drive brand visibility and sales on CWSpirits.com.
Since going public in August 2023, LQR House has focused on fostering sustainable growth by securing new marketing contracts and reinforcing its business foundation. The Company believes that these efforts have translated into steady recurring revenue, demonstrating the platform's value to partner brands.
Sean Dollinger, CEO of LQR House, remarked "Our consistent monthly revenue growth as compared to the same months in 2023 reflects the unwavering commitment of our team to delivering long-term value for our stakeholders. While the growth rate may not match the initial spike we saw when CWSpirits.com became part of our portfolio, the ability to maintain upward momentum in a mature phase of integration highlights the strength and adaptability of our business model. Moreover, with the addition of new highly experienced board members, we are entering 2025 with renewed confidence and strategic focus. We believe these advancements position us to achieve even greater milestones in the year ahead."
As LQR House continues to refine its offerings and build on its successes, the Company remains committed to delivering innovative solutions in the spirits and beverage sector while creating value for both its partners and shareholders.
About LQR House Inc.
LQR House intends to become a prominent force in the wine and spirits e-commerce sector, epitomized by its flagship alcohol marketplace, cwspirits.com. This platform seamlessly delivers a diverse range of emerging, premium, and luxury spirits, wines, and champagnes from esteemed retail partners like Country Wine & Spirits. Functioning as a technology-driven hub, LQR House utilizes software, data analytics, and artificial intelligence to elevate the consumer experience. CWSpirits.com stands out as the go-to destination for modern, convenience-oriented shoppers, providing a curated selection of alcohol products delivered to homes across the United States. Beyond its role in an e-commerce sector, LQR House is a marketing agency with a specialized focus on the alcohol industry. The Company measures campaign success by directly correlating it with sales on CWSpirits.com, demonstrating a return on investment. Backed by an influential network of over 550 figures in the alcohol space, LQR House strategically drives traffic to CWSpirits.com, enhancing brand visibility. LQR House intends to disrupt the traditional landscape of the alcohol industry, driven by its dedication to providing an unparalleled online purchasing experience and delivering tailored marketing solutions.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Shareholders can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. Forward-looking statements contained in this press release are made only as of the date of this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in other reports and documents that the Company files from time to time with the United States Securities and Exchange Commission (the "SEC"). You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the headings "Risk Factors". Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in other reports and documents that the Company files from time to time with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. References and links to websites have been provided as a convenience, and the information contained on such websites has not been incorporated by reference into this press release.
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SOURCE: LQR House
Source: LQR House
