Kona Gold Beverage, Inc. Announces Revenue Increases Month-Over-Month in First Quarter of 2021

Rhea-AI Summary

Kona Gold Beverage, Inc. (OTCQB: KGKG), based in Melbourne, Florida, reported significant month-over-month revenue growth in Q1 2021, driven by increased demand for its beverage products. March revenues surpassed February, with Kona Gold LLC experiencing over a 22% revenue increase, while Gold Leaf Distribution posted a remarkable 37% growth. March revenues totaled over $140,000 for Kona Gold compared to $115,000 in February. The company expects continued revenue increases in Q2 as it engages with new distribution partners for the busy beverage seasons ahead.

Positive

• March 2021 revenues exceeded February 2021 revenues.
• Kona Gold LLC reported over a 22% revenue increase in March 2021.
• Gold Leaf Distribution achieved more than a 37% revenue growth from February to March 2021.
• Gold Leaf Distribution's March revenues surpassed $80,000 compared to $58,000 in February.
• Kona Gold's March revenue increased to over $140,000 from approximately $115,000 in February.

Negative

• None.

MELBOURNE, Fla., April 1, 2021 /PRNewswire/ -- Kona Gold Beverage, Inc. (OTCQB: KGKG), a holding company focused on product development in the better-for-you and hemp and CBD functional beverage sector, is pleased to announce the Company saw revenue increases month-over-month in the first quarter of 2021 due to high demand for its beverage portfolio and growth in its distribution business. The Company recently announced its February 2021 revenues from the Company's subsidiaries were the highest monthly revenues when compared to the previous monthly revenues over the last 15 months and the Company has beat those revenues in March. 

Kona Gold Beverage continues to see great revenue growth with March 2021 revenues outpacing February by way of its subsidiaries, with Kona Gold LLC reporting more than a 22% growth in revenue, and Gold Leaf Distribution reporting more than a 37% growth in revenue from the previous month.  Gold Leaf Distribution once again had a record revenue month, posting revenues of more than $80,000 for the month of March 2021 compared to approximately $58,000 in February.  Kona Gold posted revenue of over $140,000 in March 2021 compared to approximately $115,000 in February.

Kona Gold Beverage anticipates its subsidiaries will continue to have a substantial increase in revenue in Q2, as the Company enters into the historically busier beverage seasons of spring and summer. Additionally, the Company is actively in discussions with new distribution partners, convenience store chains, and grocery chains. 

For more information regarding Kona Gold Beverage, please visit:
https://konagoldbeverage.com/

About Kona Gold Beverage, Inc.

Kona Gold Beverage, Inc., a Delaware corporation, has created wholly-owned subsidiaries, Kona Gold LLC, HighDrate, LLC, and Gold Leaf Distribution, LLC.  Kona Gold, LLC has developed a premium Hemp-Infused Energy Drink line; please visit its website at www.konagoldhemp.com.  HighDrate, LLC has developed the beverage industry's first CBD-Infused Energy Water, available in 6 delicious flavors; please visit its website at www.highdrateme.com.  Gold Leaf Distribution, LLC was created to fill the Company's distribution needs in markets that it wants to enter quickly; please visit its website at www.goldleafdist.com.  Kona Gold Beverage, Inc. recently acquired S&S Beverage, Inc., which manufactures and distributes LEMIN Superior Lemonade line; please visit its website at www.drinklemin.com. Kona Gold and its family of companies are located on the east coast of Florida in Melbourne and in Greer, South Carolina.

Safe Harbor Statement: 

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions.  The Company may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties.  There can be no assurance that such statements will prove to be accurate.  The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Registration Statement on Form S-1. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company does not undertake any obligation to update publicly or to revise any statements in this release, whether as a result of new information, future events, or otherwise.

Investor Relations Contact: 
Robert Clark
844-714-2224
investorrelations@konagoldbeverage.com

 

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SOURCE Kona Gold Beverage, Inc.

FAQ

What is Kona Gold Beverage's revenue growth in March 2021?

Kona Gold Beverage reported a revenue increase of over 22% for Kona Gold LLC and over 37% for Gold Leaf Distribution in March 2021 compared to February.

How much revenue did Kona Gold Beverage generate in March 2021?

Kona Gold Beverage generated over $140,000 in March 2021, up from approximately $115,000 in February.

What are Kona Gold Beverage's expectations for Q2 2021?

Kona Gold Beverage anticipates continued substantial revenue growth in Q2 2021 as it enters the busier beverage seasons.

How does Kona Gold Beverage's revenue performance compare over the last 15 months?

February 2021 revenues from Kona Gold's subsidiaries were the highest in 15 months, with March revenues exceeding those figures.