Upexi, Inc. (NASDAQ:UPXI) Q2 2023 Earnings Conference Call February 14, 2023 5:00 PM ET Company Participants Valter Pinto - MD of KCSA Strategic Communications Allan Marshall - CEO Andrew Norstrud - CFO Conference Call Participants Michael Albanese - EF Hutton Aaron Grey - Alliance Global Partners Operator Greetings and welcome to the Upexi, Inc. 2023 Fiscal Second Quarter Earnings Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will fol ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _______ Commission File Number 333-255266 UPEXI, INC. (Exact name of registrant as specified in its charter) Nevada 83-3378978 (State or other jurisdiction of ...

Financial Data and Key Metrics Changes - Revenue for the first fiscal quarter ending September 30, 2022, totaled $11.6 million, an increase of 199% compared to $3.9 million for the same period the prior year, driven by growth across most product categories and sales platforms [9][20] - Cost of revenue during the quarter was $5.5 million, an increase of 334% compared to $1.3 million for the same period the prior year, primarily related to acquisitions [21] - Gross profit for the quarter was $6 million, an increase of $3.4 million compared to the same period in the prior year, with gross margins declining to 52% due to increased discounts and distributor sales [22] - Operating expenses totaled $9 million, an increase of 159% compared to $3.5 million for the same period in the prior year, driven by increased sales and marketing, distribution costs, and general administrative costs [23] - The company reported net losses from continuing operations of $2.7 million compared to net income of approximately $511,000 for the same period the previous year [24] - Cash and cash equivalents were $3.3 million, with stockholder's equity at $27 million as of the end of September 2022 [25] Business Line Data and Key Metrics Changes - The company has successfully closed several acquisitions, including Cygnet Online, VitaMedica Corporation, Interactive Offers, and LuckyTail, contributing to revenue growth [10][11][12] - VitaMedica has been a leading revenue driver with triple-digit growth year-over-year, primarily from Amazon sales [11] - LuckyTail entered the $200 billion pet market, showing double-digit year-over-year growth [12] Market Data and Key Metrics Changes - The company is focusing on high-margin growth areas and dependable sales visibility, particularly in health, wellness, pet, beauty, and toys [7][10] - The sale of select CBD assets for approximately $23.5 million is aimed at streamlining the business and focusing on essential consumer goods [13] Company Strategy and Development Direction - The company aims to project over $100 million in revenues for calendar 2023, reflecting effective execution of its business model and management expertise [9][33] - The strategy includes a balanced approach of growth with a focus on cost control while investing more in marketing and brand advertising for future growth [30] - The company is strategically positioned for success in various markets, with a focus on recession-resistant products [31] Management's Comments on Operating Environment and Future Outlook - Management acknowledges macroeconomic challenges but remains optimistic about strong direct-to-consumer sales [10] - The company expects to see continued growth in revenue across its brands and business segments, with a leaner operational structure post-CBD asset sale [29][31] - Management anticipates that acquisition opportunities are improving, with valuations aligning with strategic guidelines [32] Other Important Information - The company obtained a $3 million mortgage at an interest rate of 4.8% to reduce outstanding short-term acquisition loans, increasing available funds for future acquisitions [26] - The elimination of a $15 million senior secured debt facility is expected to reduce annualized interest expenses by approximately $900,000 [27] Q&A Session Summary Question: Capital allocation priorities post-CBD asset divestiture - Management is considering reinvesting in the business and sees more attractive acquisition multiples, indicating a preference for acquisitions over stock buybacks at this time [35][38] Question: Competitive landscape in the brand aggregator space - Management notes that competitors with high debt are struggling, creating more acquisition opportunities with favorable valuations [41][42] Question: Potential for revenue guidance exceeding $100 million - The guidance includes current operations, with potential for additional revenue from future accretive acquisitions [43]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission file number 333-255266 UPEXI, INC. (Exact name of registrant as specified in its charter) Nevada 83-3378978 (State or other jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _______ Commission File Number 333-255266 GROVE, INC. (Exact name of registrant as specified in its charter) Nevada 83-3378978 (State or other jurisdiction of in ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 or UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _______ Commission File Number 333-255266 GROVE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _______ Commission File Number 333-255266 GROVE, INC. (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) ...

10-K 1 grvi_10k.htm FORM 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2021 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission file number 333-255266 GROVE, INC. (Exact name of registrant as specified in its charter) (State or other j ...