VPR Brands (OTC: VPRB), a market-leading supplier and patent holder for electronic cigarettes or vaporizers for nicotine, cannabis and cannabidiol (“CBD”) and other related accessories, has released its first quarter 2021 financial results. The report was highlighted by an increase in quarterly revenues of approximately 209% over the same quarter last year, totaling $1.25 million, along with a reduction in net loss from $421,590 in 2020 to $101,651 in 2021. The report also noted that VPR Brands was able to strengthen its gross operating margins to 43% in Q1 2021 compared with 35% in Q1 2020. The report noted that the company made significant progress in regaining revenues lost because of COVID-19; the company pointed to increases in its direct-to-customer business and the addition of Dissim Lighters to its portfolio as key components to its ability to trend upward. “We are back in business,” said VPR Brands CEO Kevin Frija in the press release. “After a difficult year in 2020 due to circumstances beyond our control, we are grateful to be able to come back strong and continue where we left off in 2019 and we look forward to the rest of 2021 and beyond.”
To view the full press release, visit https://nnw.fm/CmVXm
About VPR Brands LP
VPR Brands is a technology company whose assets include issued U.S. and Chinese patents for atomization-related products including technology for medical marijuana vaporizers and electronic cigarette products and components as well as lighters. The company is also engaged in product development for the vapor or vaping market, including e-liquids, vaporizers and electronic cigarettes (also known as e-cigarettes), which are devices that deliver nicotine and/or cannabis through atomization or vaping, and without smoke and other chemical constituents typically found in traditional products. For more information about the company, visit www.VPRBrands.com.
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