PlantX Life Inc. (CSE:VEGA) has said it recorded a 32% year-over-year revenue increase in August driven primarily by the expansion of its distribution channels and retail footprint.
The company noted that the Little West cold-pressed juice brand continued to generate strong sell-through across its retail distribution partners, while the Chicago Uptown retail location had its best month since it was acquired by PlantX in December 2021, driven by expanded selection and special events.
In a statement, PlantX CEO Lorne Rapkin said the company continued to generate significant year-over-year growth, driven by positive market reception to the Little West cold-pressed juice brand and the success of live events at its retail locations in driving store traffic and building loyal customers.
"Consumers increasingly see PlantX as the first stop for all things involved with the plant-based lifestyle, and this growing presence is resulting in revenue acceleration,” Rapkin said.
READ: PlantX Life hosts additional live retail events in Chicago to drive store traffic, introduce plant-based lifestyle
For the month of August, the company said it generated gross revenue of $1.381 million, compared to $1.048 million in August 2021. Gross profit was $525,000 or a 38% gross margin, compared to a gross profit of $367,000 or 35% gross margin for the year-ago month.
PlantX Life is the digital face of the plant-based community, operating a one-stop shop for plant-based products.
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