IONC Record US$8.3 Million 2nd Q Revenues IONIC Brands Corp. Announces Record Sales of US$8.3 Million in Second Quarter 2021
Release Highlights Record High Revenue for Second Quarter 2021
(Expressed in US dollars, unless otherwise stated)
- Record Q2-2021 sales revenues of $8.3M and realized $1.3M in gross profit representing a 16% gross margin for the second quarter 2021, a 1.2% decline on quarter-on-quarter growth due to our combined B2B wholesale business and entrance into the sales of lower margin flower sales compared to our concentrate segments.
- Record H1 sales revenues of $12.5M which exceeds the entire fiscal year of 2020 revenues by $3.5M, representing a 40% increase in revenue YTD
- The Company maintains its target on baseline revenues of over $28 million for annual 2021.
- Improved balance sheet through the conversion of $12.9 million in secured debt to preferred equity