TORONTO, Dec. 8, 2021 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a leading acquirer and operator of niche e-commerce brands, is pleased to provide the following corporate update based on preliminary results:
- EMERGE achieved record Gross Merchandise Sales(1) ("GMS") of approximately $10 million (unaudited), a 236% increase compared to November 2020
- GMS(1) for the month of November 2021 exceeded the Company's reported GMS(1) for the full quarter in Q3 2021
- WholesalePet.com, EMERGE's most recent acquisition, saw double-digit organic growth year over year, strong profitability, and positive cash flow during November 2021
- Based on results to date, the Company anticipates Q4 2021 to be its largest quarter yet in terms of GMS(1), Revenue and Adjusted EBITDA(1)
- EMERGE CEO and CFO to host year-end virtual webcast on Tuesday, December 14, at 11:00am ET (REGISTER BELOW)
"In November, we saw a glimpse of the power of the combined portfolio at our new collective scale, as GMS this past month exceeded our entire reported GMS from Q3 2021, and we recorded our first $1M GMS day on Cyber Monday," commented Ghassan Halazon, the Company's Founder and CEO.
WholesalePet.com, EMERGE's most recent acquisition, and its first B2B marketplace platform, is achieving double-digit organic growth, with strong profitability and positive cash flow during its first month-to-date under EMERGE ownership.
"We are pleased to report that WholesalePet.com is having a terrific first month so far under EMERGE. One of our favorite stats from this business is that the average tenure of our top 10 customers is approximately 10 years, a testament to the unprecedented level of loyalty on the platform. Combining strong repeat customer lifetime value ("CLTV") with an average EBITDA margin of nearly 75% is a winning formula that we believe will continue to stand the test of time," continued Halazon.
Since its go-public listing in December 2020, EMERGE has closed three acquisitions, along with four leading niche e-commerce brands, truLOCAL.ca, BattlBox.com, CarnivoreClub.co and WholesalePet.com. In total, the Company currently owns and operates 8 brands across 5 verticals in North America.