ToughBuilt Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 19, 2022 at 10:17 pm
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ToughBuilt Industries, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported revenue was USD 17.89 million compared to USD 15.85 million a year ago. Net loss was USD 12.14 million compared to USD 7.42 million a year ago. Basic loss per share from continuing operations was USD 9.45 compared to USD 13.64 a year ago. Diluted loss per share from continuing operations was USD 9.45 compared to USD 13.64 a year ago.
For the six months, revenue was USD 35.11 million compared to USD 28.14 million a year ago. Net loss was USD 24.24 million compared to USD 13.48 million a year ago. Basic loss per share from continuing operations was USD 22.57 compared to USD 27.08 a year ago. Diluted loss per share from continuing operations was USD 22.57 compared to USD 27.08 a year ago.
Toughbuilt Industries, Inc. is engaged in designing, manufacturing, and distributing tools and accessories to the building industry. The Company markets and distributes various home improvement and construction product lines for both Do-It-Yourself (DIY) and professional markets under the TOUGHBUILT brand name. Its business is based on development of products, primarily in tools and hardware category, with particular focus on building and construction industry. Its three categories contain a total of approximately 19 product lines, consists of soft goods, which includes kneepads, tool bags, pouches and tool belts; metal goods, which consists of sawhorses, tool stands and workbench; and utility products, which includes utility knives, aviation snips, shears, lasers and levels, tape measures and chalk reels, striking tools, garden and landscaping tools, and pliers and clamps. It also has various additional categories and product lines in various stages of development.
TOUGHBUILT INDUSTRIES, INC. 
