Record revenue to date for the current quarter
driven by consumer demand across all product categories, including
Tytan Tiles' toys and electronics
CLEARWATER, Fla., Dec. 14,
2022 /PRNewswire/ -- Upexi Inc. (NASDAQ:
UPXI) (the "Company" or "Upexi"), a multi-faceted brand
owner and innovator in aggregation, today announced record net
revenue of approximately $17 million
through November 30th, the Company's
fiscal 2023 second quarter, which ends December 31, 2022.
Gross revenue thus far in the current quarter is attributable to
strong consumer demand across each of the Company's product
vertical markets including; health, wellness, pets, toys and
discount electronics. Sales across all channels, including retail
and direct-to-consumer, saw flat to positive growth in volume
amidst a slowing consumer demand environment. This overall positive
trend was particularly driven by the Company's toy brand, Tytan
Tiles, and strong initial results from our E-Core acquisition.
Allan Marshall, Upexi Chief
Executive Officer commented, "We are on pace for our best quarter
in the Company's existence, even through this transitional period.
The diverse nature of our brands and products within key industry
verticals helps the Company navigate through and stabilize among
volatile consumer market trends. Our revenue thus far in
combination with a robust pipeline of new products and acquisitions
firmly position us to achieve the $100
million dollar revenue projected for 2023."
About Upexi, Inc.
Upexi is a multifaceted brand owner
with established brands in the health, wellness, pet, beauty, and
other growing markets. We operate in emerging industries with high
growth trends and look to drive organic growth of our current
brands. We focus on direct to consumer and Amazon brands that are
scalable and have anticipated high industry growth trends. Our goal
is to continue to accumulate consumer data and build out a
significant customer database across all industries we sell into.
The growth of our current database has been key to the year over
year gains in sales and profits. To drive additional growth, we
have and will continue to acquire profitable Amazon and eCommerce
businesses that can scale quickly and reduce costs through
corporate synergies. We utilize our in-house, SaaS programmatic ad
technology to help achieve a lower cost per acquisition and
accumulate consumer data for increased cross-selling between our
growing portfolio of brands.
Forward Looking Statements:
This news release contains
"forward-looking statements" as that term is defined in Section 27A
of the United States Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Statements in this press release
which are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations, or
intentions regarding the future. Actual results could differ from
those projected in any forward-looking statements due to numerous
factors. Such factors include, among others, the inherent
uncertainties associated with business strategy, potential
acquisitions, revenue guidance, product development, integration,
and synergies of acquiring companies and personnel. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations, and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations, or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our annual report on Form 10-K
and other periodic reports filed from time-to-time with the
Securities and Exchange Commission.
Company Contact
Andrew Nortstrud
Chief Financial Officer
andrew.norstrud@upexi.com
Investor Relations Contact
KCSA Strategic
Communications
Valter Pinto or Jack Perkins
Email: Upexi@KCSA.com
Phone: (212) 896-1254
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SOURCE Upexi, Inc.
