Very Good Food Company Inc VGFCQ

YTD Q3 2021 Revenue Increased 184% Year-over-Year to $8.0 Mi

[NYETrader]

YTD Q3 2021 Revenue Increased 184% Year-over-Year to $8.0 Million

• Revenue in Q3 2021 increased 85% to $2,536,097 as compared to the same quarter last year primarily driven by strong eCommerce sales and an increase in wholesale revenue due to the Company's successful scaling of production and distribution expansion to meet demand in both sales channels. Compared to Q2 2021, revenue decreased 9% as VERY GOOD strategically prioritized retail orders over eCommerce, reserving inventory for the wholesale channel to support the third quarter US retail launch. As a result, VERY GOOD had a record month in October with $1.5 million in revenue from both its eCommerce and retail channels. The demand for Stuffed Beast and the introduction of Holiday Boxes led to a significant sales increase ahead of the festive season.