From GlobeNewswire: 2025-04-28 08:15:00

Heritage Distilling Company, Inc. reported a successful full year 2024, achieving EBITDA exceeding $4.5 million and net income of $0.7 million, or $0.05 per share. Revenue for Q4 2024 saw a 26.4% increase, surpassing $3 million. The company also reported a 5.4% year-over-year revenue growth.

The company’s CEO, Justin Stiefel, highlighted 2024 as a transformative year for Heritage, with successful IPO debut, revenue growth, and profitability. Heritage operates in the craft spirits segment of the $288 billion spirits market, expanded into new markets, launched new products, and supported non-profits. The company plans further growth through various sales channels.

Financially, Heritage achieved positive EBITDA and net income for the first time in its history. Key figures for 2024 include EBITDA of $4,539,962, net income of $710,458, and revenue of $8,402,488. The company reduced total liabilities by $42,482,429 year over year and implemented $1.1 million in expense reductions in 2024.

In 2024, Heritage expanded its board with experienced members, launched new products, and opened a new tasting room. The company’s Cocoa Bomb chocolate whiskey won “World’s Best Flavored Whiskey.” Sales from the Salute Series brand surpassed expectations, with over $2.4 million in retail sales. Q1 2025 sales exceeded Q4 2024 sales through the Direct to Consumer channel.

Looking ahead, Heritage is poised for continued expansion in 2025 and has identified over $1 million in annualized cost reductions. The company formalized a $15 million equity line of credit in February 2025 to support growth. Management is focused on efficiency, cash preservation, and sustained profitability.

Heritage Distilling Holding Company, Inc. disclosed its financial results for full year 2024, showing positive growth in net sales, EBITDA, and net income. The company’s financial highlights include a 5.4% year-over-year revenue growth, a gross profit of $2,125,847, and reductions in liabilities by nearly $42.5 million year over year.



Read more at GlobeNewswire:: Heritage Distilling Co. Reports Full Year 2024 Financial