PlantX Life Inc (CSE:VEGA) (FRA:WNT1) (OTCQB:PLTXF) announced Tuesday interim unaudited results for its third quarter, noting a dramatic month-over-month increase in gross revenue.
For the quarter ended December 31, the company said it generated revenue of C$1,832,484, an increase of 298% from C$459,982 in the 2Q.
The cost of sales was C$1,465,879 and it achieved a gross margin of 20% -- a 5.7% increase month-over-month.
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"The company's increase in revenue and sales during a highly unprecedented year position the company as one of the highest growing leaders in the plant-based industry," said CEO Julia Frank in a statement.
"The company attributes its revenue growth to its expanded product offerings, innovative partnerships and strategic acquisitions."
Sean Dollinger, PlantX’s founder, added: "Over the last three quarters, we have seen increases in revenue, which emphasizes the impact and potential that PlantX has in the plant-based marketplace. We seek to build on our current financial results, and deliver some of the most high-quality and dynamic experiences and products to our plant-based community through our evolving growth strategy and commitment to excellence."
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