Kaival Brands (OTCQB: KAVL), a company focused on generating shareholder value by incubating innovative products into mature and dominant brands within their respective markets, has reported its Q1 numbers for the period ending Jan. 31, 2021; the report notes first-quarter revenues of $37 million and gross profit totals of $4.8 million. In addition, the company announced that it had achieved cumulative revenue of $100 million in less than a year and has reconfirmed its FY2021 revenue guidance of $400 to $450 million. These revenue milestones were the best to date for Kaival Brands, which is the exclusive global distributor of all products manufactured by Bidi Vapor LLC. Kaival was able to achieve the revenue figure in less than a year, demonstrating the strong positive response to the Bidi(R) Stick, the fastest-growing closed-system disposable electronic nicotine delivery system in the country. The report noted that the company is even more pleased with its profitability metrics. “Given the significant expenses associated with infrastructure, start-up costs, marketing, legal, and many other business necessities, we are proud of our ability to reach profitability so early on in our development,” said Kaival Brands president and CEO Niraj Patel in the press release. “The gross profit number provides a glimpse into our future net profits as we continue to scale the business in a smart and efficient operational manner. . . . Given our current visibility, we remain very confident in our full year fiscal 2021 revenue guidance of $400 million to $450 million.”
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About Kaival Brands Innovations Group Inc.
Kaival Brands is focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. Kaival’s vision is to develop internally, acquire, own or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation. For more information, visit the company’s website at www.KaivalBrands.com.
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