Innovation Beverage Group Ltd. reported its financial results for the fiscal year ending December 31, 2024. The company's revenues for the year were $2.931 million, down from $3.148 million in 2023, indicating a decline in sales. The decrease in revenue was primarily due to reduced sales of bitter products to Coca-Cola Europacific Partners and other overseas customers, as well as direct-to-customer sales through online marketplaces. In addition to the revenue report, the company highlighted its recent initial public offering, which took place on September 26, 2024. Innovation Beverage Group Ltd. successfully closed the offering of 1,350,000 ordinary shares at a price of $4.00 per share, garnering gross proceeds of $5.4 million. The company's shares began trading on the Nasdaq Capital Market under the ticker symbol "IBG." The financial report also outlined the components of the company's cost structure, including direct materials, delivery costs, and labor. Additionally, selling, general, and administrative expenses were noted, encompassing costs like amortization of intangible assets, advertising, marketing, consultancy fees, and new product development.