Jan. revenue of $502,000 ARCELPAL ANNOUNCES RECORD JANUARY 2021 REVENUE, CONTINUING ITS IMPROVED TREND IN OPERATING PERFORMANCE
ParcelPal Technology Inc., for the month of January, 2021, has achieved approximately $502,000 in gross revenue, which is nearly 20 per cent higher than January, 2020. This is important because January is typically one of the slowest months of the year for the Company. Equally important, the Company continues to see improved operating performance as it recorded a breakeven bottom-line performance for the month of January 2021, compared to a six figure net loss in January 2020. This comes on the heels of three consecutive months of profitability in October, November and December 2020, being the first three profitable months in the history of the Company.
CEO Rich Wheeless stated, "We have continued to expand our customer base, improve our margins and are continually pushing to increase our presence in not only existing markets, but also in attempting to enter new territories. This has, in part, helped drive our increased revenue and profit margins, and also helps to position us for the year ahead. It is important to note, however, that we cannot guarantee every month to be profitable or for each improving trend to continue on this trajectory or rate."
The Company looks forward to providing further material updates as they occur.
About ParcelPal Technology Inc.
ParcelPal is a leader in the growing technology and logistics industry. ParcelPal is a customer-driven, courier and logistics company connecting people and businesses through our network of couriers in cities including Vancouver, Calgary, Toronto and soon in other major cities Canada-wide. Some of our verticals include pharmacy & health, meal kit deliveries, retail, groceries and more.