MGO Global Inc. Common Stock (MGOL) 14 Nov 232023 Q3 Earnings call transcript

Good afternoon, ladies and gentlemen, and welcome to MGO Global's Third Quarter Results Webcast.

Joining us from MGO are Maximiliano Ojeda, Co-Founder, Chairman and CEO; and MGO's Chief Financial Officer, Vincent Ottomanelli.

Before I turn the floor over to them, I remind you that during today's call statements that are not historical facts, including any projections, statements regarding future events or future financial performance or statements of intent or belief are forward-looking statements and are covered by the safe harbor disclaimers contained in the company's public filings with the SEC. Actual outcomes and results may differ materially from what is expressed in or implied by these forward-looking statements. With that said, I'd now like to introduce Max. Max, the floor is yours.

Karen. much, very you Thank I also this you listening all to thank afternoon. of for like

trust the work months reflection line succeeded to For year and performance favorable X,XXX%, third both X top that believe growth and to growth XXX% team's of this year, our initiatives, respectively. revenue highly We as a our reporting testifying last MGO our customers. delivering results has direct the and in is of hard and of compared this period producing

and holiday through conversion marketing year, both our efficiencies, addressing aligning of Moving incubation through to MGO, on brand organic that strategies shared initiatives, and in by service store order works. platform into on we each expect season collaborations which in higher possible of better all values new executing customer the also Messi per increase operating the and driving addition capitalizing infrastructure cost Stand will our fuel are for the and structure to expanding portfolio focused markets the our rates success for brands, to potential new product our with categories Flagpoles. and perpetuate customer acquisitions, revenue our the of it's our and niche leverage growth support brands,

this Since us with present to we going and journey have growth in presented January opportunities. and continues year, that value public of embarked has on a future learnings

and could geopolitical our in for a our inflationary not now difficult changed has into world-class operational the year Vinnie, please to environment, company, result. our track as third Despite products focus navigating these appear to high-quality unique some you quarter challenges, with all as insights our volatile on macroeconomic be goals provide listeners pressure backdrop. a market commerce the a impacting and team, a has financial capital results. posed and us digital become of by challenges the direct-to-consumer Our strategy serve conflicts foundation leading consumers, our while

our XXXX you webcast. afternoon on quarter XX-Q third Form in Max. Good we on of SEC. to today's all report Sure, the listening filed Earlier today, with

have website everyone you access review our filings. our other results If or it Relations under I on had full not chance SEC you read a via it, filings SEC of may MGO's our section financial understanding XX-Qs to encourage on you to the other and to Investor with ensure disclosed. business, important and have sec.gov information a

highlights from of XXX% LLC MGOTEAM of in the X total in September from for X I'll up $X.XX $XXX,XXX approximately for the $XXX,XXX of climbed the sales our which XXXX. period year. the through and is XXX% the compared ended approximately QX X begin $XXX,XXX reported last to the year. same subsidiary months Revenues reporting QX prior performance X million, apparel, to homewares the to approximately X XX, ended reported from compared approximately XXXX, XX, Messi by our sharing increased September ended XXXX operations and months months statement XX, September for revenues accessories generated when brand to XXXX,

totaled we relatively until XXXX. for to Flagpoles business in quarter third million through of the the operated March which our subsidiary, Stand due new year, $X.XX year fact Americana $X not Flagpoles from of to Liberty Revenues this business the XXXX compared QX Stand license that approximately our for did this

For X approximately from $X.XX X,XXX% same to the total the $XXX,XXX million revenues approximately months climbed of in for XXXX. year, X months this

of the the million for the to first aforementioned the XXXX, Flagpoles which the year. X 'XX, prior of from in Flagpoles, compared first XX, September contribution sales approximately $XXX,XXX for to totaled $X Revenues X-month The Messi Stand Stand up $XXX,XXX year reported in of is licensing the the occurred months revenues Revenue due XXXX. comparable X which around approximately $X.XX represented quarter ended last from timing of the for the brand products from months of period of

Now up months. moving statement. expenses approximately down the the income million, from around MGO's X comparable for $XXX,XXX to total increased operating XXX% $X.X

Our sales also stock increased, Messi from $X.X expenses and million. and connection comparable X XXXX higher rising a to Stand for higher increased the increase public to X-month was million expenses months expense, company with first XXX% the of marketing fuel headcount around Flagpole basis of due expenses largely our on The $X.XX to costs, increased in products. around noncash SG&A compensation

the million XXX% noncontrolling a attributable around $XXX,XXX increased XX, of to $X.XX compared factoring XXXX, of around months X September XXXX. of per loss as September X factoring net net loss After share $X.XX or to per net attributable XX,XXX the loss months after loss loss interests or the ended interest ended approximately $XX,XXX XX, to share the noncontrolling net loss for for $X.XX to

or $XXX,XXX. a a Now This X for accounting noncontrolling attributable for per compared for $X.XX the around attributable loss interest $X.XX the of noncontrolling million X to loss after months months net XX, ended net per first around to share increased $X.X $XXX,XXX. million loss $X.XX share loss XXXX September net interest approximately of approximately or net a to to of loss XXX% XXXX, the of after loss factoring

to our balance Now on moving sheet.

cash on XXXX, XX, approximately hand million. September was $X.XX of As

approximately $X.XX was $X.XX was equity capital million. stockholders' million total approximately working and Our

and concludes to my that now highlights, of call Max? the Max. overview financial the I'll turn back Now

we [indiscernible] are in and challenges and of you, evolving and Vinnie. co-Founder all Chief Design optimizing significant is meet to behavior mean, MGO's Operating we Groves, that e-commerce Officer, myself, XX% are that changes Hilfiger; executing new a for to stock. [indiscernible] strategy shareholders. common Julian our our purpose-centered value we marketplace, own MGO's in MGO Officer, ensure companies nearly Ginny the Thank I Chief company's and are with Along the creating help

that in been of a important share blow recognize our interest performance aligned decline It the the note of we price of As us months. the our shareholders. of to is has to directly volatility interest detrimental with shareholders, market our our stock several significant in all the over that all is past and

microcap many the same While we who a time, in believe experiencing market remain our that intend in company. market, of are a the we strategies fundamentals challenges our we undeterred world-class as are hopeful distinction we execute there the public that MGO, price. result in will earn to strengthen as In companies stock to efforts are rebound healthy to our

a you, www.mgoglobalinc.com. that again, said, would you. be for to on Before replay afternoon back Karen, like we available webcast to I'd listen today's at everyone website will to today's today close to call, of With who this a of call found later those like our good wish

and today's thank Global's conclude Thank does this webcast. your Ladies you. participation. gentlemen, We MGO you for

and may You this at time, disconnect a great day. have