GREY:VGFCQ - Post by User
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NYETraderon Nov 30, 2021 12:32pm
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$$$ eCommerce Revenue Increased by $4.0 Million or 206% $$$
$$$ eCommerce Revenue Increased by $4.0 Million or 206% $$$ YTD Q3 2021 Revenue Increased 184% Year-over-Year to $8.0 Million
YTD Q3 2021 Production Units Sold Increased 154% Year-over-Year
YTD Q3 2021 eCommerce Revenue Increased by $4.0 Million or 206% Year-over-Year
YTD Q3 2021 Fulfilled eCommerce Orders Increased by 142% to 64,784 Year-
- Wholesale revenue increased 173% to $846,749 in Q3 2021 compared to $310,444 in Q3 2020; and increased 86% from $455,055 in Q2 2021.
- Wholesale distribution points increased 331% to 4,551 at the end of Q3 2021 compared to 1,055 at the end of Q3 2020 and increased 143% from 1,869 in Q2 2021.
- eCommerce sales increased 58% to $1,546,146 in Q3 2021 compared to $978,883 in Q3 2020; and decreased 30% from $2,206,402 in Q2 2021 as retail orders were prioritized and inventory reserved to support the August US retail launch and fourth quarter eCommerce holiday promotions.
- eCommerce orders fulfilled increased 34% to 17,546 in Q3 2021 compared to 13,107 orders fulfilled in Q3 2020 and decreased 27% from 24,057 in Q2 2021.
- Adjusted gross margin was 36% of revenue YTD Q3 2021 compared to 30% of revenue YTD Q3 2020.
- Adjusted general and administrative expense was $3,963,524 in Q3 2021 compared to $1,466,121 in Q3 2020 and $2,208,555 in Q2 2021. The year-over-year increase was driven by investments in expansion of the management team, professional and software license fees, and office expenses as we scale to accelerate growth.
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