BEACN Reports Improved Financial Performance for 2024

BEACN Wizardry & Magic Inc. (TSX-V:BECN) has released its annual financial results for 2024, highlighting significant improvements in sales and reduced net losses. The company reported sales revenue of $3,466,706, up from $2,933,180 in 2023. Gross profits also rose to $1,376,066, constituting a 40% margin, compared to 37% the previous year. Despite these gains, BEACN recorded a net loss of $1,351,109, though this was notably lower than the $2,281,917 loss in 2023.

The increase in revenue, especially notable in the final quarter, is credited to robust sales via the Amazon channel during the holiday season and the introduction of BEACN Studio, a new dual-USB audio interface. Looking forward, BEACN plans to continue investing in product development and expanding its B2B sales strategy.