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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
ToughBuilt Industries
ToughBuilt Industries (TBLT) investor relations material
ToughBuilt Industries has been otc
ToughBuilt Industries Q4 2023 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2023 earnings summary23 Dec, 2024
Executive summary
Revenue for 2023 was $76.3 million, down 19.9% year-over-year due to inventory and working capital constraints.
Net loss increased to $46.4 million from $39.3 million in 2022, driven by lower sales, higher cost of goods sold, and impairment charges.
The company faces substantial doubt about its ability to continue as a going concern, with a working capital deficit of $26.6 million at year-end.
Significant business developments included new product launches, expanded distribution agreements, and the introduction of the StackTech modular storage line.
Nasdaq delisted the company in August 2024 due to continued non-compliance with filing requirements.
Financial highlights
Revenue: $76.3 million in 2023 vs. $95.3 million in 2022, a 19.9% decrease.
Net loss: $46.4 million in 2023 vs. $39.3 million in 2022.
Gross margin: 21.5% in 2023, down from 26.5% in 2022.
SG&A expenses: $56.0 million in 2023, down 15.3% from $66.2 million in 2022.
Impairment charges: $5.6 million in 2023, primarily related to app development and website design.
Outlook and guidance
Management anticipates continued losses until commercialization of new products and improved capital resources.
Additional financing is required to fund operations for the next 12 months; inability to secure funding may result in scaling back or discontinuing operations.
Focus remains on expanding marketing and distribution to drive sales growth.
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Frequently asked questions
ToughBuilt Industries, Inc. combines quality home improvement products with industry-leading customer service to deliver improved residential living. The Company specializes in the design and manufacture of lightweight and rugged baskets and trays for transporting landscaping materials and other outdoor living essentials.