$BBIG $EDNT Updated Guidance for 2020 for Edison Nation and Edison Nation Medical and PPE performance
COVID-19 has created both opportunity and a considerable amount of uncertainty across many markets including the sourcing and sale of Personal Protective Equipment. While we were initially excited regarding the confirmed orders that we received, we have realized that the supply side of the industry is unable to keep up with the current global demand. In response, we have adjusted our corporate guidance in the PPE space from fiscal year 2020 to include the initial two quarters of 2021 to allow sufficient time for delivery. Additionally, we will provide separate detail revenue and margin guidance for all PPE and non PPE business going forward. While we still remain confident in our confirmed demand and ability to supply the products required, we have taken a different approach moving forward due to the uncertainty of timing of production and transportation which has caused the additional time added to our initial guidance.
Revenue Guidance for Fiscal 2021
Current Brand Sales
911 Help Now Brand: $7.1M
HMNRTH/Wellness Brand $3.8M
Purple Mountain/Global Clean Brand: $8.2M
4Keeps Roses Brand: $1.6M
Royalty Streams: $1.1M
Total Current Brand Sales: $21.8
Current Media/Technology and B to B Sales
911 Help Now License: $2.8M
Honey Badger Media $6.4M
Business to business sales and services: $7.1M
Total Media/Technology and B to B Sales: $16.3M
Target for Additional Sales for 2021 via B.I.G. Strategy of one acquisition per Quarter: $17M
Note: The revenue guidance above does not include sales related to the Cloud B brand as currently those assets are being negotiated for sale and further the estimated revenue related to PPE supplies are anticipated to be recognized on a net revenue basis without including the costs of the shipped products.
Closing:
Thank you for time and support as a shareholder in Vinco. We look forward to a new beginning and B.I.G. things in 2021. We have also included a link to the new investor presentation for your review and consideration.
COVID-19 has created both opportunity and a considerable amount of uncertainty across many markets including the sourcing and sale of Personal Protective Equipment. While we were initially excited regarding the confirmed orders that we received, we have realized that the supply side of the industry is unable to keep up with the current global demand. In response, we have adjusted our corporate guidance in the PPE space from fiscal year 2020 to include the initial two quarters of 2021 to allow sufficient time for delivery. Additionally, we will provide separate detail revenue and margin guidance for all PPE and non PPE business going forward. While we still remain confident in our confirmed demand and ability to supply the products required, we have taken a different approach moving forward due to the uncertainty of timing of production and transportation which has caused the additional time added to our initial guidance.
Revenue Guidance for Fiscal 2021
Current Brand Sales
911 Help Now Brand: $7.1M
HMNRTH/Wellness Brand $3.8M
Purple Mountain/Global Clean Brand: $8.2M
4Keeps Roses Brand: $1.6M
Royalty Streams: $1.1M
Total Current Brand Sales: $21.8
Current Media/Technology and B to B Sales
911 Help Now License: $2.8M
Honey Badger Media $6.4M
Business to business sales and services: $7.1M
Total Media/Technology and B to B Sales: $16.3M
Target for Additional Sales for 2021 via B.I.G. Strategy of one acquisition per Quarter: $17M
Note: The revenue guidance above does not include sales related to the Cloud B brand as currently those assets are being negotiated for sale and further the estimated revenue related to PPE supplies are anticipated to be recognized on a net revenue basis without including the costs of the shipped products.
Closing:
Thank you for time and support as a shareholder in Vinco. We look forward to a new beginning and B.I.G. things in 2021. We have also included a link to the new investor presentation for your review and consideration.
