American Marconi Wireless News - Charlie's Holdings (OTCQB: CHUC) Begins SBX Roll-Out and Reports 336% Growth to $7.1 Million Revenue for Q3 2025

COSTA MESA, CA / ACCESS Newswire / November 19, 2025 / Charlie's Holdings, Inc. (OTCQB:CHUC) ("Charlie's" or the "Company"), an industry leader in the premium vapor products space, today reported results for the three months ended September 30, 2025, and provided an update on recent business highlights.

Key Financial Highlights for Q3 2025 (compared with Q3 2024)

• Revenue increased 336% to $7.1 million

• Net income of $0.6 million, from a loss of $1.0 million

• Cash balance of $1.1 million, compared to $0.2 million

• Total assets of $10.6 million, compared to $3.9 million

• Total shareholders' equity of $3.2 million, compared to a deficit of ($1.8) million

Key Balance Sheet Highlights for Q3 2025 (compared with Q4 2024)

Recent Business Highlights

• Successful SBX introduction in 7 strategically advantaged states; Phase I roll-out began in Q3; Phase II roll-out for multiple regional convenience store chains and distributors will continue in Q4 2025. SBX now represents the majority of the Company's sales.

• On August 8, 2025, the Company entered into and closed a PMTA asset sale for one PACHA synthetic product and related asset, bringing the total PMTA Products purchased by the strategic Buyer to sixteen. The purchase price for this latest PMTA asset was $1.0 million paid at closing. Accordingly, PMTA Products Strategic Partnerships have now generated $7.5 million in income with an additional $4.2 million in contingent payments possible over the next 12 months.

• On August 26, 2025, the Company announced that, in order to facilitate increased SBX inventory purchases and to fuel the Company's growth in the mass market convenience store channel, it signed a very favorable $2 million credit facility with Michael D. King, one of the independent members of Charlie's Board of Directors.

• The Company announced that it will open its first US manufacturing facility in Q4 2025 for filling of select product lines. In addition to mitigating shipping delays and tariff costs, the US-filled line will enable Charlie's to meet new domestic manufacturing requirements that have been announced by large states. The Company's new line will meet these new domestic manufacturing requirements and will appeal, broadly, to adult consumers who prefer "Made in America" products.

• To prevent youth access to nicotine and non-nicotine vapor products, the Company has reported that it continues its efforts to develop age-gating technology for certain of its products in development.

Management Commentary

"Early SBX sales continue to exceed Company expectations… by a wide margin!" reported Ryan Stump, Charlie's Chief Operating Officer. "Already in Q4, we sold more SBX - $6 million worth during a two-day convenience store tradeshow - than we ever sold in an entire MONTH… In fact, our two days of show sales equate to 75% of what we sold in ALL OF 2024! Without question, SBX is greatly expanding Charlie's retail distribution in convenience stores that wish to carry flavored disposable vapes that are not in violation of the FDA's PMTA review process."

Henry Sicignano III, Charlie's President, explained, "If we had been able to finance and manufacture more product in Q3, we could have realized substantially more than $10 million in top line sales for the third quarter… and indeed, Q4 should eclipse this milestone." Mr. Sicignano continued, "With steady progress in the markets where SBX enjoys considerable competitive advantages, we believe $10 million in monthly sales, along with significantly improved net margins, could be achievable by mid-2026. Very exciting times for the Charlie's team… and for our shareholders."

Financial Results for the Three Months Ended September 30, 2025:

• Net Income/Loss: For the three months ended September 30, 2025, net income was $0.6 million, compared with a net loss of $1.0 million for the three months ended September 30, 2024. Net income was negatively impacted by first-order product placement costs including displays, commissions, and promotional expenses, however the Company achieved an increase in net income for the quarter as a result of funds received from a strategic Buyer in the August 2025 PMTA asset sale.

About Charlie's Holdings, Inc.

Charlie's Holdings, Inc. (OTCQB:CHUC) is an industry leader in the premium vapor products space. The Company's products are sold around the world to select distributors, specialty retailers, and third-party online resellers through subsidiary company Charlie's Chalk Dust, LLC. Charlie's Chalk Dust has developed an extensive portfolio of brand styles, flavor profiles, and innovative product formats.

For additional information, please visit Charlie's corporate website at: Chuc.com and the Company's branded online websites: sbxvape.com, CharliesChalkDust.com, enjoypachamama.com, and Pacha.co.

Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the Company's overall business, existing and anticipated markets and expectations regarding future sales and expenses. Words such as "expect," "anticipate," "should," "believe," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "could," "intend," variations of these terms or the negative of these terms, and similar expressions, are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ongoing ability to quote its shares on the OTCQB; whether the Company will meet the requirements to up-list to a national securities exchange in the future; the Company's ability to successfully increase sales and enter new markets; whether the Company's PMTA's for its nicotine-containing products will be authorized by the FDA, and the FDA's decisions with respect to the Company's future PMTA's for nicotine products; the Company's ability to manufacture and produce products for its customers; the Company's ability to formulate new products; the acceptance of existing and future products; the complexity, expense and time associated with compliance with government rules and regulations affecting nicotine, synthetic nicotine, products containing nicotine substitutes, and products containing cannabidiol; litigation risks from the use of the Company's products; risks of government regulations; the impact of competitive products; and the Company's ability to maintain and enhance its brands, as well as other risk factors included in the Company's most recent quarterly report on Form 10-Q, annual report on Form 10-K, and other SEC filings. These forward-looking statements are made as of the date of this press release and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investors Contact:

[email protected]
Phone: 949-570-069

SOURCE: Charlie's Holdings, Inc.

View the original press release on ACCESS Newswire

O.Karlsson--AMWN