Quarterly report pursuant to Section 13 or 15(d)

SEGMENTS

v3.24.3
SEGMENTS
 9 Months Ended
Sep. 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  
    Nine Months Ended September 30, 2024  
    Starco Brands     Skylar     Soylent     Total  
Gross revenues   $ 4,288,376     $ 7,160,264     $ 30,367,708     $ 41,816,348  
Gross revenues, related parties     4,731,430       -      

-

       4,731,430  
Cost of revenues    

569,540

       2,750,835       21,243,253       24,563,628  
Cost of revenues, related parties     2,879,614       -       -       2,879,614  
Gross profit   $ 5,570,652     $ 4,409,429     $ 9,124,455     $ 19,104,536  

 

    Starco Brands     Skylar     Soylent1     Total  
    Nine Months Ended September 30, 2023  
    Starco Brands     Skylar     Soylent1     Total  
Gross revenues   $ 3,124,878     $ 7,438,654     $ 27,561,208     $ 38,124,740  
Gross revenues, related parties     8,201,377       -       -       8,201,377  
Cost of revenues     898,223       3,138,661       20,311,809       24,348,693  
Cost of revenues, related parties     1,663,124       -       -       1,663,124  
Gross profit   $ 8,764,908     $ 4,299,993     $ 7,249,399     $ 20,314,300  

 

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.