PlantX Life Inc. (CSE:VEGA) (FRA:WNT1) (OTCQB:PLTXF) has announced that it achieved new record monthly gross revenues for the month of April 2021.
The company saw new record gross revenue of $2,042,450, reflecting a 30% increase from March 2021, and 87% increase since January 2021. It added that the cost of goods sold $1,639,568 for the same month.
PlantX Life said it continues to experience significant month-over-month revenue increases, as shown by recent financial results in the last few months.
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"The monthly revenue increases are seen as one of the positive consequences of the Company's ongoing efforts to attain its strategic growth goals and plans," PlantX CEO, Julia Frank said in a statement.
"The Company's expansion continues to be driven by its marketing and branding efforts, as well as the Company's innovative partnerships such as the new collaboration with tennis champion Venus Williams and world-renowned vegan Chef Matthew Kenney. The strong sales figures reflect PlantX's values-driven approach to successfully meeting consumer demand," she added.
"We couldn't be more pleased to experience our Company's financial growth- we went from practically generating no revenue just a year ago, to having a run rate of over $24M in only 12 months, and there's no signs of this growth slowing down anytime soon," added PlantX Founder Sean Dollinger. "Our PlantX community is on the rise, and the growing demand for PlantX products is clearly reflected in the recent revenue numbers."
As the digital face of the plant-based community, PlantX's platform is the one-stop shop for everything plant-based. With its fast-growing category verticals, the company offers customers across North America more than 10,000 plant-based products.
In addition to offering meal and indoor plant deliveries, the company currently has plans underway to expand its product lines to include cosmetics, clothing and its own water brand — but the business is not limited to an e-commerce platform. PlantX Life uses its digital platform to build a community of like-minded consumers and, most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands.
Contact the author at jon.hopkins@proactiveinvestors.com