PlantX Life Inc. (CSE:VEGA) has told investors that it continues to experience growth, with revenue for April 2022 coming in 164% higher than gross revenue for the same month last year, net of wholesale revenue.
Vancouver-based PlantX said it generated gross revenue of $1,744,248 in April, while the cost of goods sold for the month came in at $1,133,761.
"Our revenue for April is a strong indicator that the company continues to leverage its investment in innovation in effective ways," the company’s CEO Lorne Rapkin said in a statement. "This momentum has the potential to drive future sales and demand for our products and we are determined to experience even more impressive monthly and yearly revenues in the future,” he added.
READ: PlantX launches a multi-brand pop-up retail initiative and obtains a $2M convertible loan
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 plans are underway to expand into cosmetics, clothing and its own water brand.
The company uses its digital platform to build a community of likeminded 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 stephen.gunnion@proactiveinvestors.com