Eastside Distilling Reports Third Quarter 2024 Financial Results

PR Newswire11-15

Company to Host Conference Call at 5:00 pm ET Thursday November 14, 2024 PORTLAND, Ore. and PROVIDENCE, R.I., Nov. 14, 2024 /PRNewswire/ -- Eastside Distilling, Inc. (NASDAQ: EAST) ("Eastside" or the ...

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(NASDAQ: EAST) (\"Eastside\" or the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/eastside-distilling-reports-third-quarter-211000224.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Eastside Distilling Reports Third Quarter 2024 Financial Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEastside Distilling Reports Third Quarter 2024 Financial Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-15 05:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/eastside-distilling-reports-third-quarter-211000224.html><strong>PR Newswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company to Host Conference Call at 5:00 pm ET Thursday November 14, 2024\nPORTLAND, Ore. and PROVIDENCE, R.I., Nov. 14, 2024 /PRNewswire/ -- Eastside Distilling, Inc. (NASDAQ: EAST) (\"Eastside\" or the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/eastside-distilling-reports-third-quarter-211000224.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4169","symbol_name":"酿酒商与葡萄酒商","start_time":0,"source_url":"https://finance.yahoo.com/news/eastside-distilling-reports-third-quarter-211000224.html","article_id":"2483330219","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/moWN2MWmwIKhdCAUaWrWVQ--~B/aD0zMDk7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/prnewswire.com/6f25bf5c13587c207a253b8ab47efba9"],"rights":{"source":"yahoofinance","url":"https://finance.yahoo.com/news/eastside-distilling-reports-third-quarter-211000224.html","rn_cache_url":null,"customStyle":"img, svg { display: none !important; }","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2483330219","pubTimestamp":1731618600,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Company to Host Conference Call at 5:00 pm ET Thursday November 14, 2024. PORTLAND, Ore.andPROVIDENCE, R.I., Nov. 14, 2024 /PRNewswire/ --Eastside Distilling, Inc.  , a holding company for Bridgetown Spirits Corp., a consumer-focused beverage company that builds craft inspired experiential brands and for Beeline Financial Holdings, Inc. , a recently acquired pioneering mortgage technology company that operates an end-to-end, all-digital, AI-enhanced platform for homeowners and property investors, reported third quarter financial results for the period ended September 30, 2024.In the Company's financial results and the discussion below, Craft Canning + Printing , a subsidiary of the Company until October 7, 2024, which provides printing services to the craft canning industry in the Pacific Northwest, is classified as \"assets held for sale,\" as the Company transferred its interest in Craft C+P on October 7, 2024. In addition, the financial results and discussion below do not include Beel","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4169":"酿酒商与葡萄酒商","EAST":"Eastside Distilling, Inc."},"translate_title":"Eastside Distilling报告2024年第三季度财务业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EAST":0.9},"content_text":"Company to Host Conference Call at 5:00 pm ET Thursday November 14, 2024\nPORTLAND, Ore. and PROVIDENCE, R.I., Nov. 14, 2024 /PRNewswire/ -- Eastside Distilling, Inc. (NASDAQ: EAST) (\"Eastside\" or the \"Company\"), a  holding company for Bridgetown Spirits Corp.,  a consumer-focused beverage company that builds craft inspired experiential brands and for Beeline Financial Holdings, Inc. (\"Beeline\"), a recently acquired pioneering mortgage technology company that operates an end-to-end, all-digital, AI-enhanced platform for homeowners and property investors, reported third quarter financial results for the period ended September 30, 2024.\n\n  \n\nIn the Company's financial results and the discussion below, Craft Canning + Printing (\"Craft C+P\"), a subsidiary of the Company until October 7, 2024, which provides printing services to the craft canning industry in the Pacific Northwest, is classified as \"assets held for sale,\" as the Company transferred its interest in Craft C+P on October 7, 2024. In addition, the financial results and discussion below do not include Beeline Financial Holdings, Inc., as it did not become a subsidiary of the Company until October 7, 2024.\nThird Quarter 2024 Highlights:\n\nSpirits segment (excluding corporate expenses) achieved positive EBITDA and net income for the third quarter 2024.\nSpirits sales increased 14% from the second quarter of 2024.\nSubsequent to the close of the quarter, the Company entered into an asset sale and debt exchange in which it disposed of Craft C+P in settlement of debt.\nImmediately subsequent to the closing of the asset sale and debt exchange, Beeline merged into a subsidiary of Eastside. (See press release dated October 7, 2024.)\n\nOn September 4, 2024, the Company and Craft C+P, entered into a Debt Exchange Agreement (the \"Debt Agreement\"), which closed on October 7, 2024, resulting in the assignment by the Company of 720 barrels of spirits to Craft C+P, followed by the merger of Craft C+P into a limited liability company owned by certain creditors of the Company who, in exchange for Craft C+P, released the Company from $6.6 million of debt and surrendered Eastside preferred stock with a book value of $1.2 million.  Given that the effect of the Debt Agreement meets all the initial criteria of ASC Topic 205-20, Presentation of Financial Statements – Discontinued Operations for the classification of held for sale, the assets, liabilities, and operating results of Craft C+P have been classified as held for sale as of September 30, 2024 and December 31, 2023 and for the three and nine months ended September 30, 2024 and 2023. The consolidated financial statements for the prior periods have been adjusted to reflect comparable information.\nSubsequent to the execution of the Debt Agreement, the Company organized a subsidiary named \"Bridgetown Spirits Corp.\" (\"Bridgetown\") and assigned to Bridgetown the Company's business of manufacturing and marketing spirits. The following discussion included in the Financial Results reflects the Bridgetown and Corporate segments. \nFinancial Results\nThe following information includes Bridgetown and Corporate segments and excludes Craft C+P.\nGross sales for both the three months ending September 30, 2024 and 2023 was $0.8 million.  During the three months ending September 30, 2024, Bridgetown sold 5,868 cases compared to 6,849 cases in the prior year and sold 65 barrels for gross proceeds of $0.1 million.\nGross profit for both the three months ending September 30, 2024 and 2023 was $0.2 million. Gross margin was 26% and 21% for the three months ending September 30, 2024 and 2023, respectively, increasing due to bulk spirits sales and continued cost savings initiatives that began in 2023 and continued into 2024.\nOperating costs for the three months ending September 30, 2024 increased to $0.7 million from $0.5 million for the three months ending September 30, 2023 primarily due to higher professional fees incurred in connection with the Debt Agreement and the Beeline merger.\nNet loss for the three months ending September 30, 2024 decreased to $1.4 million from $2.2 million for the three months ending September 30, 2023. The Company's results for the 2023 period were burdened by a $1.3 million expense resulting from the conversion of debt to equity during the three months ending September 30, 2023.\nUse of Non-GAAP Measures\nEastside Distilling's management evaluates and makes operating decisions using various financial metrics. In addition to the Company's GAAP results, management also considers the non-GAAP measure of adjusted EBITDA as a supplement to GAAP results. Management believes this non-GAAP measure provides useful information about the Company's operating results and assists investors in comparing the Company's performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance.\nThe Company defines adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, stock-based compensation, and other one-time items. The final table below provides a reconciliation of this non-GAAP financial measure with the most directly comparable GAAP financial measure.\nThird Quarter 2024 Conference Call Details\nDate and Time: Thursday, November 14, 2024 at 5:00 pm ET\nCall-in Information: Interested parties can access the conference call by dialing (844) 889-4332 or (412) 717-9595.\nLive Webcast Information: Interested parties can access the conference call via a live Internet webcast, which is available in the Conference Calls section of the Company's website at https://www.eastsidedistilling.com/conference-calls.\nReplay: A teleconference replay of the call will be available for three days at (877) 344-7529 or (412) 317-0088, replay access code #8629688. A webcast replay will be available in the Conference Calls section of the Company's website at https://www.eastsidedistilling.com/conference-calls for 90 days.\nAbout Eastside Distilling\nEastside Distilling, Inc. (Nasdaq: EAST) is a producer of award-winning craft spirits, including whiskey, vodka, and rum. Founded in Portland, Oregon, Eastside is committed to quality, innovation, and sustainability, delivering exceptional products that reflect the spirit of the Pacific Northwest.\nAbout Beeline Financial Holdings, Inc.\nThe Company recently closed on a merger with Beeline Financial Holdings, Inc.  Beeline is a technology-driven mortgage lender offering a fully digital, AI-enhanced, platform that simplifies and accelerates the home financing process for homeowners and property investors. Based in Providence, RI, Beeline is dedicated to transforming the mortgage industry through innovative technology and customer-centric solutions.\nImportant Cautions Regarding Forward-Looking Statements\nCertain matters discussed in this press release may be forward-looking statements that reflect our expectations or anticipations rather than historical fact. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions, general competitive factors, the Company's ongoing financing requirements and ability to achieve financing, acceptance of the Company's products in the market, the Company's success in obtaining new customers, the Company's ability to execute its business model and strategic plans, and other risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission (\"SEC\"). A detailed discussion of the most significant risks can be found in the \"Risk Factors\" section of the Company's Annual Report on Form 10-K. The Company assumes no obligation to update the cautionary information in this press release.\nFinancial Summary Tables\nThe following financial information should be read in conjunction with the audited financial statements and accompanying notes filed by the Company with the Securities and Exchange Commission on Form 10-K for the period ended December 31, 2023, which can be viewed at www.sec.gov and in the investor relations section of the Company's website at www.eastsidedistilling.com/investors.\n\n\n\n\nEastside Distilling, Inc. and SubsidiariesConsolidated Balance SheetsSeptember 30, 2024 and December 31, 2023(Dollars in thousands, except share and per share) \n\n\n\n\n\n\n\nSeptember 30,2024 \n\n\nDecember 31, 2023 \n\n\n\n\n\n(unaudited) \n\n\n\n\n\n\nAssets \n\n\n\n\n\n\n\n\n\n\nCurrent assets: \n\n\n\n\n\n\n\n\n\n\nCash \n\n\n$310 \n\n\n\n$306 \n\n\n\nTrade receivables, net \n\n\n105 \n\n\n\n163 \n\n\n\nInventories \n\n\n1,793 \n\n\n\n2,686 \n\n\n\nPrepaid expenses and other current assets \n\n\n176 \n\n\n\n113 \n\n\n\nCurrent assets held for sale \n\n\n2,640 \n\n\n\n1,269 \n\n\n\nTotal current assets \n\n\n5,024 \n\n\n\n4,537 \n\n\n\nProperty and equipment, net \n\n\n112 \n\n\n\n169 \n\n\n\nRight-of-use assets \n\n\n430 \n\n\n\n680 \n\n\n\nIntangible assets, net \n\n\n4,178 \n\n\n\n4,178 \n\n\n\nOther assets, net \n\n\n182 \n\n\n\n247 \n\n\n\nNon-current assets held for sale \n\n\n6,298 \n\n\n\n7,669 \n\n\n\nTotal Assets \n\n\n$ 16,224 \n\n\n\n$ 17,480 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLiabilities and Stockholders' Equity (Deficit) \n\n\n\n\n\n\n\n\n\n\nCurrent liabilities: \n\n\n\n\n\n\n\n\n\n\nAccounts payable \n\n\n$ 1,388 \n\n\n\n$ 1,062 \n\n\n\nAccrued liabilities \n\n\n418 \n\n\n\n465 \n\n\n\nCurrent portion of secured credit facilities, related party \n\n\n3,447 \n\n\n\n- \n\n\n\nCurrent portion of secured credit facilities, net of debt issuance costs \n\n\n728 \n\n\n\n- \n\n\n\nCurrent portion of notes payable \n\n\n8,155 \n\n\n\n486 \n\n\n\nCurrent portion of notes payable, related party \n\n\n92 \n\n\n\n92 \n\n\n\nCurrent portion of lease liabilities \n\n\n191 \n\n\n\n223 \n\n\n\nOther current liability, related party \n\n\n85 \n\n\n\n- \n\n\n\nCurrent liabilities held for sale \n\n\n3,124 \n\n\n\n1,877 \n\n\n\nTotal current liabilities \n\n\n17,628 \n\n\n\n4,205 \n\n\n\nLease liabilities, net of current portion \n\n\n213 \n\n\n\n458 \n\n\n\nSecured credit facilities, related party \n\n\n- \n\n\n\n2,700 \n\n\n\nSecured credit facilities, net of debt issuance costs \n\n\n- \n\n\n\n342 \n\n\n\nNotes payable, net of current portion \n\n\n- \n\n\n\n7,556 \n\n\n\nNon-current liabilities held for sale \n\n\n843 \n\n\n\n1,366 \n\n\n\nTotal liabilities \n\n\n18,684 \n\n\n\n16,627 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\nStockholders' equity (deficit): \n\n\n\n\n\n\n\n\n\n\nCommon stock, $0.0001 par value; 6,000,000 shares authorized asof September 30, 2024 and December 31, 2023; and 3,140,625shares and 1,705,987 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively \n\n\n- \n\n\n\n- \n\n\n\nPreferred stock, $0.0001 par value; 100,000,000 shares authorized;2,500,000 Series B shares issued and outstanding as of bothSeptember 30, 2024 and December 31, 2023 \n\n\n- \n\n\n\n- \n\n\n\nPreferred stock, $0.0001 par value; 240,000 shares authorized; 117,586 Series C shares and 200,000 Series C shares issued and outstanding as of September 30, 2024 and December 31, 2023,respectively \n\n\n- \n\n\n\n- \n\n\n\nAdditional paid-in capital \n\n\n84,499 \n\n\n\n83,559 \n\n\n\nAccumulated deficit \n\n\n(86,959) \n\n\n\n(82,706) \n\n\n\nTotal stockholders' equity (deficit) \n\n\n(2,460) \n\n\n\n853 \n\n\n\nTotal Liabilities and Stockholders' Equity (Deficit) \n\n\n$ 16,224 \n\n\n\n$ 17,480 \n\n\n\n\n\n\n\n\n\nEastside Distilling, Inc. and SubsidiariesFor the Three and Nine Months Ended September 30, 2024 and 2023(Dollars and shares in thousands, except per share amounts)(Unaudited) \n\n\n\n\n\nConsolidated Statements of Operations: \n\n\n\n\n\n\n\nThree Months Ended September 30, \n\n\nNine Months EndedSeptember 30, \n\n\n\n\n2024 \n\n\n2023 \n\n\n2024 \n\n\n2023 \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSales \n\n\n$ 783 \n\n\n\n$849 \n\n\n\n$2,106 \n\n\n\n$3,080 \n\n\nLess customer programs and excise taxes \n\n\n23 \n\n\n\n43 \n\n\n\n129 \n\n\n\n141 \n\n\nNet sales \n\n\n760 \n\n\n\n806 \n\n\n\n1,977 \n\n\n\n2,939 \n\n\nCost of sales \n\n\n560 \n\n\n\n638 \n\n\n\n1,476 \n\n\n\n1,940 \n\n\nGross profit \n\n\n200 \n\n\n\n168 \n\n\n\n501 \n\n\n\n999 \n\n\nOperating expenses: \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSales and marketing expenses \n\n\n218 \n\n\n\n303 \n\n\n\n699 \n\n\n\n1,180 \n\n\nGeneral and administrative expenses \n\n\n435 \n\n\n\n172 \n\n\n\n1,149 \n\n\n\n1,287 \n\n\n(Gain) loss on disposal of property andequipment \n\n\n(1) \n\n\n\n- \n\n\n\n(1) \n\n\n\n3 \n\n\nTotal operating expenses \n\n\n652 \n\n\n\n475 \n\n\n\n1,847 \n\n\n\n2,470 \n\n\nLoss from operations \n\n\n(452) \n\n\n\n(307) \n\n\n\n(1,346) \n\n\n\n(1,471) \n\n\nOther income (expense), net \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInterest expense \n\n\n(409) \n\n\n\n(203) \n\n\n\n(965) \n\n\n\n(850) \n\n\nLoss on debt to equity conversion \n\n\n- \n\n\n\n(1,321) \n\n\n\n- \n\n\n\n(1,321) \n\n\nOther income \n\n\n33 \n\n\n\n25 \n\n\n\n37 \n\n\n\n57 \n\n\nTotal other income (expense), net \n\n\n(376) \n\n\n\n(1,499) \n\n\n\n(928) \n\n\n\n(2,114) \n\n\nLoss before income taxes \n\n\n(828) \n\n\n\n(1,806) \n\n\n\n(2,274) \n\n\n\n(3,585) \n\n\nProvision for income taxes \n\n\n- \n\n\n\n- \n\n\n\n- \n\n\n\n- \n\n\nNet loss from continuing operations \n\n\n(828) \n\n\n\n(1,806) \n\n\n\n(2,274) \n\n\n\n(3,585) \n\n\nNet loss from discontinued operations \n\n\n(531) \n\n\n\n(350) \n\n\n\n(1,866) \n\n\n\n(1,812) \n\n\nNet loss  \n\n\n(1,359) \n\n\n\n(2,156) \n\n\n\n(4,140) \n\n\n\n(5,397) \n\n\nPreferred stock dividends \n\n\n(38) \n\n\n\n(38) \n\n\n\n(113) \n\n\n\n(113) \n\n\nNet loss attributable to commonshareholders \n\n\n$(1,397) \n\n\n\n$ (2,194) \n\n\n\n$(4,253) \n\n\n\n$(5,510) \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBasic net loss per common share \n\n\n$(0.66) \n\n\n\n$ (2.00) \n\n\n\n$(2.28) \n\n\n\n$(5.93) \n\n\nBasic weighted average common sharesoutstanding \n\n\n2,116 \n\n\n\n1,097 \n\n\n\n1,862 \n\n\n\n929 \n\n\n\n\n\n\n\n\nEastside Distilling, Inc. and SubsidiariesFor the Three and Nine Months Ended September 30, 2024 and 2023(Dollars in thousands)(Unaudited) \n\n\n\n\n\nSegments: \n\n\n\n\n\n\nThree Months Ended September 30, \n\nNine Months Ended September 30, \n\n\n(Dollars in thousands) \n2024 \n2023 \nVariance \n\n2024 \n2023 \nVariance \n\n\nBridgetown \n\n\n\n\n\n\n\n\n\nSales \n$ 783 \n$849 \n$(66) \n\n$ 2,106 \n$ 3,080 \n$ (974) \n\n\nNet sales \n760 \n806 \n(46) \n\n1,977 \n2,939 \n(962) \n\n\nCost of sales \n560 \n638 \n(78) \n\n1,476 \n1,940 \n(464) \n\n\nGross profit \n200 \n168 \n32 \n\n501 \n999 \n(498) \n\n\nTotal operating expenses \n217 \n303 \n(86) \n\n698 \n1,183 \n(485) \n\n\nNet income (loss) \n$ 18 \n$(110) \n$128 \n\n$(162) \n$(130) \n$ (32) \n\n\nGross margin \n26 % \n21 % \n5 % \n\n25 % \n34 % \n-9 % \n\n\n\n\n\n\n\n\n\n\n\n\nCorporate \n\n\n\n\n\n\n\n\n\nTotal operating expenses \n$435 \n$172 \n$ 263 \n\n$ 1,149 \n$ 1,287 \n$(138) \n\n\nNet loss \n$(846) \n$ (1,696) \n$850 \n\n$(2,112) \n$(3,455) \n$1,343 \n\n\n\n\n\n\n\n\nAdjusted EBITDA Reconciliation: \n\n\n\n\n\n\n\n\n\nThree Months Ended September 30, \n\n\nNine Months Ended September 30, \n\n\n\n\n\n2024 \n\n\n2023 \n\n\n2024 \n\n\n2023 \n\n\n\nNet loss \n\n\n$ (828) \n\n\n\n$ (1,806) \n\n\n\n$(2,274) \n\n\n\n$(3,585) \n\n\n\nAdd: \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInterest expense \n\n\n409 \n\n\n\n203 \n\n\n\n965 \n\n\n\n850 \n\n\n\nDepreciation and amortization \n\n\n31 \n\n\n\n38 \n\n\n\n99 \n\n\n\n114 \n\n\n\n EBITDA \n\n\n(388) \n\n\n\n(1,565) \n\n\n\n(1,210) \n\n\n\n(2,621) \n\n\n\nGain on disposal of property and equipment \n\n\n(1) \n\n\n\n- \n\n\n\n(1) \n\n\n\n3 \n\n\n\nLoss on debt to equity conversion \n\n\n- \n\n\n\n1,321 \n\n\n\n- \n\n\n\n1,321 \n\n\n\nStock compensation \n\n\n- \n\n\n\n(68) \n\n\n\n- \n\n\n\n98 \n\n\n\nAdjusted EBITDA \n\n\n$(389) \n\n\n\n$(312) \n\n\n\n$(1,211) \n\n\n\n$(1,199) \n\n\n\n\n\n View original content to download multimedia:https://www.prnewswire.com/news-releases/eastside-distilling-reports-third-quarter-2024-financial-results-302306311.html\nSOURCE Eastside Distilling, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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