Alpine 4 Holdings, a leading operator and owner of small market businesses, said its 2Q revenue growth was up 63% quarter-over-quarter. The company also reported its consolidated gross profit dollars also grew by 425% during the three-month period.
Alpine 4 credited the uptick to its organic growth as well as strategic acquisitions the company made.
According to the release, organic growth from existing subsidiaries grew at a record rate of 13.86% over Q1 2021. “This growth was in part led by our subsidiary, Quality Circuit Assembly, Inc. (QCA), which grew by 18.82% in Q2 over Q1 and was driven by strong demand from our electric car, truck, and health tech customers.”
READ: Alpine 4 Holdings says 2Q sales anticipated to climb 54% and top $14 million
Alpine 4’s construction services companies also grew by 10%, which was led by returning demand from the education and health care sectors.
In a letter to shareholders the company stated:
“From the beginning, we founded our company to be different than the rest. Alpine 4 isn't a company tethered with myopic products or services that have limited life spans. Rather, we set out to develop the nation's premier platform for businesses to operate in and grant everyday investors all over the world to participate in something unique. The blended investor make-up of retail investors and institutional investors of Alpine 4 is something to be admired. I firmly believe that the path Alpine 4 is forging will change how we as investors look at public companies, and how investors choose to participate in their joint ownership.”
Second-quarter gross profits increased from $755,000 to $4 million, a more than 400% jump.
Moving forward, Alpine 4 expects to generate $19.5 million to $21 million in 3Q revenue, with a steady rise in gross profits.
As noted: “The company also projects that it will achieve net profitability in Q3 2021 while still investing heavily into our operational structure and continued R&D.”
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