Alpine 4 Subsidiary RCA Commercial's Revenue See's Rapid Expansion of 28% in Q3 2022
Alpine 4 Holdings (NASDAQ: ALPP) announced a significant revenue growth of 28% in Q3 2022, totaling $11.4 million, up from $8.9 million in Q2. This growth is attributed to increased demand for its commercial lighting and healthcare brands. The company anticipates continued strong demand into Q4 and 2023. President Jeff Kingston highlighted the importance of customer focus and increased trade show participation, while CEO Kent Wilson emphasized the company's commitment to innovation and service in various sectors.
- Q3 revenue increased by 28% to $11.4 million compared to Q2's $8.9 million.
- Strong demand for commercial lighting and healthcare brands anticipated to continue into Q4 and 2023.
- Successful customer engagement and increased sales efforts noted by management.
- None.
PHOENIX, AZ / ACCESSWIRE / October 18, 2022 / Alpine 4 Holdings, Inc. (NASDAQ:ALPP), a leading operator and owner of small market businesses, announced that its subsidiary, RCA Commercial, saw 3rd Quarter growth of
Jeff Kingston, President of RCA Commercial, commented: "Through a difficult period of logistics and product availability, I am proud to report the best quarter ever for RCA Commercial. The key was a total customer focus by all of our divisions. Our outside salespeople logged thousands of miles visiting end-users to better understand any needs or concerns from the buyers. Additionally, we attended more in-person trade shows this quarter over 2021. We are holding strong margins with significant pipeline of projects, and we expect this will continue to trend into 2023."
Kent Wilson, Alpine 4 CEO, had this to say: "RCA's success is a constant reminder, that at Alpine 4, we build things that matter. With industry leading advancements in lighting that enables our robust manufacturing customers to build their products with exacting precision, to our specialty TVs designed for hospital networks that help provide the best of care to its patients, we provide products and services that better the lives of many in our society."
About RCA: RCAs rich history of innovative problem solving is the catalyst behind the full line of RCA commercial TVs and electronics that are designed to meet the unique needs of the lodging, healthcare, education, and other commercial markets, now and in the future. RCA is also a pioneer in the design and manufacturing of new, energy-efficient LED lighting products, having invented the first blue light emitting LED light and introducing modern LED products over a decade ago.
https://www.rcacommercialtv.com/
About Alpine 4 Holdings: Alpine 4 Holdings, Inc. is a Nasdaq traded Holding Company (trading symbol: ALPP) that acquires business, wholly, that fit under one of several portfolios: Aerospace, Defense Services, Technology, Manufacturing or Construction Services as either a Driver, Stabilizer or Facilitator from Alpine 4's disruptive DSF business model. Alpine 4 works to vertically integrate the various subsidiaries with one another even if from different industries. Alpine 4 understands the nature of how technology and innovation can accentuate a business, focusing on how the adaptation of new technologies, even in brick-and-mortar businesses, can drive innovation. Alpine 4 also believes that its holdings should benefit synergistically from each other, have the ability to collaborate across varying industries, spawn new ideas, and create fertile ground for competitive advantages.
Four principles at the core of our business are Synergy. Innovation. Drive. Excellence. At Alpine 4, we believe synergistic innovation drives excellence By anchoring these words to our combined experience and capabilities, we can aggressively pursue opportunities within and across vertical markets. We deliver solutions that not only drive industry standards, but also increase value for our shareholders.
Contact:
Investor Relations
investorrelations@alpine4.com
www.alpine4.com
Forward-Looking Statements: Certain statements and information in this press release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. The information disclosed in this press release is made as of the date hereof and reflects Alpine 4 most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.
Other factors that may affect our businesses include global economic trends, competition and geopolitical risks, including changes in the rates of investment or economic growth in key markets we serve, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and China or other countries, and related impacts on our businesses' global supply chains and strategies; market developments or customer actions that may affect demand and the financial performance of major industries and customers we serve, such as secular, cyclical and competitive pressures in our Technology, Construction and Manufacturing businesses; pricing, the timing of customer investment and other factors in these markets; demand for our products or other dynamics related to the COVID-19 pandemic; conditions in key geographic markets; and other shifts in the competitive landscape for our products and services; changes in law, regulation or policy that may affect our businesses, such as trade policy and tariffs, regulation and the effects of tax law changes; our decisions about investments in research and development, and new products, services and platforms, and our ability to launch new products in a cost-effective manner; our ability to increase margins through implementation of operational changes, restructuring and other cost reduction measures; the impact of actual or potential failures of our products or third-party products with which our products are integrated, and related reputational effects; the impact of potential information technology, cybersecurity, or data security breaches at Alpine 4, our subsidiaries or third parties; and the other factors that are described in "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021, as updated in our Quarterly Reports on Form 10-Q.
SOURCE: Alpine 4 Holdings, Inc.
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FAQ
What was the revenue growth for Alpine 4 Holdings' subsidiary RCA Commercial in Q3 2022?
What factors contributed to RCA Commercial's revenue growth in Q3 2022?
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