Massimo Group Reports Third Quarter 2024 Financial Results
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Massimo Group (NASDAQ: MAMO) reported a 20.8% increase in year-to-date 2024 revenue to $91.2 million. However, Q3 2024 revenue decreased by 14.4% compared to Q3 2023, with a significant drop in net income and gross profit.
November 15, 2024 | 1:45 pm
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Massimo Group's year-to-date revenue increased by 20.8% to $91.2 million, driven by new production and sales initiatives. However, Q3 2024 revenue fell by 14.4% compared to Q3 2023, with net income dropping significantly by 163.2%.
Despite a strong year-to-date performance, the significant decline in Q3 revenue and net income suggests potential short-term challenges for Massimo Group. Investors may react negatively to the quarterly results, impacting the stock price.
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