Connexa Announces Overwhelming Demand for Pickleball Launcher

Rhea-AI Summary

Connexa Sports' Pickleball Launcher receives high acclaim with $1 million in sales revenue and strong consumer demand. The sport of Pickleball has nearly 36.5 million players in the US and is one of the fastest-growing sports.

Positive

• The Slinger Bag Pickleball Launcher has generated $1 million in sales revenue and has received strong consumer demand. Pickleball is one of the fastest-growing sports with nearly 36.5 million players in the US.

Negative

• None.

• Connexa Sports’ newest portfolio product has received high acclaim from Pickleball enthusiasts.
• The Slinger Bag Pickleball Launcher delivers initial $1 million in sales revenue and selling out multiple times since launching this past April
• Pickleball Launcher has filled an unmet need for the fastest growing sport of Pickleball with entry of nearly 36.5 million Pickleball players in the US¹
  
  

BALTIMORE, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Connexa Sports Technologies Inc. (NASDAQ: CNXA) (www.connexasports.com) is pleased to announce that its flagship consumer brand, Slinger Bag (www.slingerbag.com), has seen an extremely strong consumer demand for its latest product innovation in Pickleball, which, at this current rate of sale will soon rival that of its tennis counterpart, which debuted in late summer 2020 and has seen cumulative sales in excess of $30 million.

Successful in tennis as a result of its disruptive, transportable, versatile and affordable Slinger Bag Launcher, the company has now mirrored that success with its Pickleball Launcher. Pickleball is widely regarded as one of the fastest growing sports in the USA with over 36 million players, growing at an average of 159% over the last three years. The sport, mainly played in doubles, is highly social and easy to play. It is popular amongst both men and women, with the largest age bracket being between 18 to 35 years old².

The positive participation growth experienced across all racquet sport categories over the past few years is a trend that Connexa Sports set out to capitalize on, led in-market by its innovative Ball Launchers. By creating affordable consumer products for tennis and pickleball enthusiasts of all ages and abilities, the company’s goal is to attract new players to these sports, while also supporting lifelong amateurs, rising juniors, and professional athletes alike. Connexa’s robust market testing and seeding of its new Pickleball Ball Launcher with avid players, and coaches provided the validation required prior to its official commercial launch. Consumer demand has grown month-to month ever since.

“We are thrilled with the results we are now experiencing from our new Pickleball Ball Launcher. All market indicators, coupled with the rapid growth in Pickleball participation, told us we had another winning product in our portfolio,” said Mike Ballardie, CEO of Connexa Sports. “We are extremely pleased about the user feedback on its performance and we expect this to continue as more people experience the product themselves at their local Pickleball facility. Our expectation is that the growth of Pickleball continues unabated. As always, we are using everything that we learn from our early adopters in Pickleball to mirror the success of Slinger Bag, already seen in tennis. Our success will be built on a strong understanding of the consumer and an unwavering focus on delivering to them what they need and want.”

“Pickleball represents an incredibly exciting opportunity for all sports businesses from a commercial perspective, and our goal is to once again position Connexa and this Ball Launcher as a must-have product for all players,” concluded Ballardie.”

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About Connexa Sports Technologies:

Connexa Sports a leading connected sports company delivering products, technologies, and Sport-as-a-Services across a range of sport verticals. Connexa’s mission is to reimagine sports through technological innovation driven by an unwavering focus on today’s sports consumer.

Contact Information:
investors@connexasports.com
(443) 407-7564
www.connexasports.com

Forward-Looking Statements

This press release contains “forward-looking statements” (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), including statements regarding the Company’s intention to request an appeal of the Delisting Determination, the timing of which remains uncertain. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties, which may cause results to differ materially from those indicated by these forward-looking statements. These risks include, without limitation, risks related to continued listing and registration of the Company’s securities on the Nasdaq Stock Market. Any reader of this press release is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release, except as required by applicable laws or regulations.

Reference
^1,2https://www.cnbc.com/2023/01/05/pickleball-popularity-explodes-with-more-than-36-million-playing.html

FAQ

What is the sales revenue of the Slinger Bag Pickleball Launcher?

The Slinger Bag Pickleball Launcher has generated $1 million in sales revenue.

How many players are there in the sport of Pickleball?

There are nearly 36.5 million Pickleball players in the US.

Is Pickleball a growing sport?

Yes, Pickleball is one of the fastest-growing sports.

What is the website of Connexa Sports?

The website of Connexa Sports is www.connexasports.com.

What is the website of Slinger Bag?

The website of Slinger Bag is www.slingerbag.com.