Kona Gold Beverage, Inc. Beats Q2 Estimates and Posts Biggest Quarterly Revenue
Kona Gold Beverage, Inc. (OTCQB: KGKG) announced a strong Q2 performance, exceeding revenue estimates by $40,000, totaling approximately $790,000. This marks a 248% increase year-over-year and a 71% increase from the previous quarter. The company is on track to meet its 2021 revenue targets of $2.5-$3 million. Their growth strategy includes expanding their workforce from 9 to 14 employees, with plans to hire more. Sales of Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters have surged due to effective sales management.
- Q2 revenue reached approximately $790,000, a 248% increase year-over-year.
- The company exceeded revenue estimates by approximately $40,000, or 5.3%.
- On track to meet 2021 revenue projections of $2.5-$3 million.
- Expanded workforce from 9 to 14 employees, with plans to hire 3-4 more.
- Significant sales growth in Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters.
- None.
MELBOURNE, Fla., Aug. 17, 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 it has posted its 10Q, and the Company has beat its Q2 estimates by approximately
Kona Gold Beverage is on track to hit its 2021 projections of
"Q2 was the Company's biggest revenue quarter of all time and we continue to see phenomenal growth across our subsidiaries month-over-month," stated Robert Clark, CEO of Kona Gold Beverage, Inc. "With our current growth, we have been on a hiring spree, adding several fantastic members to our team that are making an immediate impact with sales on our Kona Gold Beverage side and Gold Leaf Distribution side."
Clark continued, "We have seen a big uptick in sales of our Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters over the last few months with our new Territory Sales Manger making a big impact working hand-in-hand with several of our distributors. We will be hiring additional Territory Sales Managers over the coming months in different regions of the U.S. in our commitment to gain shelf and cooler space in key markets, and to significantly increase sales."
Kona Gold Beverage recently announced it will be exhibiting its beverage portfolio at this year's NACS (National Association of Convenience Stores) Show October 5-8 in Chicago. The NACS Show is a premier trade show in the country, related to convenience and fuel retailing industry, where Kona Gold Beverage will be sampling its products to the industry's leading buyers.
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.
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