PlantX Life Inc has told investors that it continues to experience record-breaking Business-to-Consumer transactions, and revenue increases month-over-month and year-over-year.
Vancouver-based PlantX said it generated gross revenue of $1,719,577 for March 2022, reflecting a 28% increase from February and a 168% increase, net of wholesale revenue, compared to March 2021.
"The company's ongoing financial progress has been consistent with management's efforts to invest in strategic partnerships to accelerate expansion efficiently and proactively," company founder Sean Dollinger said in a statement, "Beyond the growth that PlantX is experiencing, the company has been heavily investing in maximizing the quality of its current services and programs to better serve its growing customer base."
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March’s sales figures “clearly indicate PlantX's potential for consistent growth,” added CEO Lorne Rapkin.
“As PlantX continues to focus on business to consumer efforts, we are seeing increases in our margins while establishing a loyal customer base," Rapkin said. "Our focus on investing in quality, innovation, and strategic partnerships is clearly a rewarding strategy for PlantX, and we are looking forward to reaching new financial and operational milestones in our expansion journey."
PlantX styles itself as the digital face of the plant-based community with a one-stop destination for all things plant-based, like an online shop and meal delivery services.
The online shop houses over 5,000 vegan products, and its recently-added meal service delivers chef-created dishes straight to the doors of Western Canada. The company offers more than 10,000 plant-based products.
Contact the author at stephen.gunnion@proactiveinvestors.com