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Posted On: 09/15/2020 3:08:04 PM
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NetworkNewsBreaks – Kaival Brands Innovations Group Inc. (KAVL) Releases Q3 Numbers, Revenues Up Nearly 44%
Kaival Brands (OTCQB: KAVL), a company focused on growing and incubating innovative and profitable products into mature, dominant brands, has released the company’s financial results for Q3 2020. Driven by an increasing demand for the Bidi(TM) Stick, quarter-end numbers were impressive, with revenue totaling nearly $54.9 million, up almost 44% compared to the second quarter of 2020. Other quarter highlights include gross profit for Q3 reaching approximately $4.4 million while net income reached approximately $2.6 million — both numbers up significantly from the same period last year. “We had an extremely busy and fruitful third fiscal quarter,” Kaival Brands president and CEO Niraj Patel stated in the press release. “We experienced a rising demand for our exclusively distributed premium product, the Bidi Stick. Our sales growth is occurring mostly organically through smaller distribution channels and wholesalers. Now in the fourth fiscal quarter, we are more closely focused on expanding our distribution into large national retailers and convenience chains.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Kaival Brands (OTCQB: KAVL), a company focused on growing and incubating innovative and profitable products into mature, dominant brands, has released the company’s financial results for Q3 2020. Driven by an increasing demand for the Bidi(TM) Stick, quarter-end numbers were impressive, with revenue totaling nearly $54.9 million, up almost 44% compared to the second quarter of 2020. Other quarter highlights include gross profit for Q3 reaching approximately $4.4 million while net income reached approximately $2.6 million — both numbers up significantly from the same period last year. “We had an extremely busy and fruitful third fiscal quarter,” Kaival Brands president and CEO Niraj Patel stated in the press release. “We experienced a rising demand for our exclusively distributed premium product, the Bidi Stick. Our sales growth is occurring mostly organically through smaller distribution channels and wholesalers. Now in the fourth fiscal quarter, we are more closely focused on expanding our distribution into large national retailers and convenience chains.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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