Quarterly report pursuant to Section 13 or 15(d)

SEGMENTS

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SEGMENTS
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENTS

NOTE 4 – SEGMENTS

 

The Company has the following reportable segments:

 

Starco Brands. The Starco Brands segments generate revenue through the development and sales of consumer good products. The Starco Brands segment includes STCB, AOS, Whipshots Holdings and Whipshots LLC.

 

Skylar. The Skylar segment generates revenue through the sale of fragrances.

 

Soylent. The Soylent segment generates revenue through the sale of nutritional products, mainly drinks.

 

Balance sheet data are reviewed by the CODM on a consolidated basis; therefore, disaggregated balance sheet data are not presented.

 

The following tables present gross profit by reporting segment:

 

    Starco Brands     Skylar     Soylent     Total  
    Six Months Ended June 30, 2024  
    Starco Brands     Skylar     Soylent     Total  
Gross revenues   $ 6,068,285     $ 3,989,021     $ 21,004,116     $ 31,061,422  
Cost of revenues     2,342,698       1,469,462       14,531,133       18,343,293  
Gross profit   $ 3,725,587     $ 2,519,559     $ 6,472,983     $ 12,718,129  

 

    Starco Brands     Skylar     Soylent1     Total  
    Six Months Ended June 30, 2023  
    Starco Brands     Skylar     Soylent1     Total  
Gross revenues   $ 7,728,941     $ 4,029,944     $ 16,894,186     $ 28,653,071  
Cost of revenues     1,513,317       1,821,871       12,745,360       16,080,548  
Gross profit   $ 6,215,624     $ 2,208,073     $ 4,148,826     $ 12,572,523  

 

1 The Company does not report results for Soylent prior to the date of acquisition, February 15, 2023, as Soylent was not yet a subsidiary of the Company.

 

 

Depreciation expense allocated to the reporting segments was $8,366 and $7,942 for the six months ended June 30, 2024 and 2023.