Mamamancini's Q2 Revenue Tops Consensus, Expects Profit Margins To Improve By Year-End

Mamamancini’s Holdings Inc MMMB reported second-quarter FY22 revenue growth of 17.7% year-on-year, to $12.1 million, beating the analyst consensus of $11.47 million.
Gross profit for the quarter rose 9.5% Y/Y to $3.4 million. The gross margin contracted 210 basis points to 28% due to higher inbound shipping and commodity costs.
Operating expenses increased 22.6% Y/Y to $2.8 million. The operating margin was 4.8%, and operating income for the quarter fell 27.5% to $0.6 million.
EPS of $0.01 met the analyst consensus estimate.
The company held $4.3 million in cash and equivalents as of July 31, 2021. Net cash provided by operating activities for the six months totaled $1.6 million.
Mamamancini’s Holdings expects profit margins to improve by year-end.
Price Action: MMMB shares closed higher by 4.80% at $2.84 on Thursday.