NetworkNewsBreaks – Kaival Brands Innovations Group Inc. (KAVL) Reports Q2 Revenues, Record First-Time Product Order
Kaival Brands (OTCQB: KAVL), the exclusive global distributor of products manufactured by Bidi Vapor LLC, has released Q2 numbers along with announcing the largest first-time order for the BIDI(R) Stick disposable electronic nicotine delivery system (“ENDS”) that the company has received. The order, one of two which the company noted in the announcement, was from Grocery Supply Warehouse Inc. (“GSW”), which services more than 25,000 stores; the order was for an estimated $22.4 million of product. The second order was from C-Store Master. The two orders together total $41.6 million and are representative of interest in the BIDI Stick product as well as the success of the company’s shift to large wholesalers and distributors versus smaller retailers. In the announcement, Kaival also reported revenue of $18.1 million for its fiscal second quarter, ended April 30, 2021. “This shift in strategy also helps us remain an industry leader in our effort to continually exceed Prevent All Cigarette Trafficking Act compliance requirements,” said Kaival Brands CEO Niraj Patel in the press release. “The BIDI Stick experience is unrivalled, as evidenced by our leading market share within the ENDS category. While the potential contract values of additional national retailers are significantly higher than those of smaller retailers and wholesalers, the process to navigate these substantial contracts is more onerous and time consuming, but one which Kaival Brands believes is worth the investment because, as mentioned above, the company is optimistic that more large orders will follow.”
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Kaival Brands (OTCQB: KAVL), the exclusive global distributor of products manufactured by Bidi Vapor LLC, has released Q2 numbers along with announcing the largest first-time order for the BIDI(R) Stick disposable electronic nicotine delivery system (“ENDS”) that the company has received. The order, one of two which the company noted in the announcement, was from Grocery Supply Warehouse Inc. (“GSW”), which services more than 25,000 stores; the order was for an estimated $22.4 million of product. The second order was from C-Store Master. The two orders together total $41.6 million and are representative of interest in the BIDI Stick product as well as the success of the company’s shift to large wholesalers and distributors versus smaller retailers. In the announcement, Kaival also reported revenue of $18.1 million for its fiscal second quarter, ended April 30, 2021. “This shift in strategy also helps us remain an industry leader in our effort to continually exceed Prevent All Cigarette Trafficking Act compliance requirements,” said Kaival Brands CEO Niraj Patel in the press release. “The BIDI Stick experience is unrivalled, as evidenced by our leading market share within the ENDS category. While the potential contract values of additional national retailers are significantly higher than those of smaller retailers and wholesalers, the process to navigate these substantial contracts is more onerous and time consuming, but one which Kaival Brands believes is worth the investment because, as mentioned above, the company is optimistic that more large orders will follow.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
