Charlie's Holdings Inc. has released its financial results for the fiscal year ended December 31, 2024. The company reported a significant decline in product revenue, which fell by 47.7% to $8.5 million from the previous year's $16.3 million. Total operating costs and expenses decreased by 35.3%, amounting to $11.9 million compared to $18.5 million in 2023. The company experienced a net loss of $4.2 million, representing a 98.7% increase compared to the net loss of $2.1 million in the prior year. Additionally, Charlie's Holdings Inc. recorded a loss from operations of $3.5 million, up 56.7% from the $2.2 million loss reported in 2023. In terms of other income and expenses, the interest expense increased by 49.0%, totaling $711,000, while the change in fair value of derivative liabilities decreased by 85.7%. The total other loss was reported at $707,000, a significant shift from the $109,000 income seen the previous year. Charlie's Holdings Inc. undertook a stock offering in November, selling 6.875 million shares at $0.08 each, generating approximately $550,000 in gross proceeds intended for working capital purposes. The company continues to aim for leadership in the non-combustible nicotine-related products and alternative alkaloid vapor products markets.