1847 reports 27.6% increase in revenue to $15.4 million and achieves profitability for q1 2023

Gross profit increases 35.0% compared to the same period last year reaffirms guidance for revenue in excess of $90 million new york, ny / accesswire / may 15, 2023 / 1847 holdings llc ("1847" or the "company") (nyse american:efsh), a unique holding company that combines the attractive attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today provided a business update and reported financial results for the three months ended march 31, 2023. q1 2023 highlights and subsequent events total revenue was $15.4m for q1 2023 compared to $12.1m in q1 2022, a 27.6% increase year-over-year gross profit was $5.8m in q1 2023 compared to $4.3m in q1 2022, a 35.0% increase year-over-year gross profit margin for q1 2023 was 37.9% compared to 35.8% for q1 2022 net income was $1.0m for q1 2023, compared to a net loss of $927,208 for q1 2022 reaffirms prior guidance of 2023 revenue in excess of $90 million mr.
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