Kona Gold Beverage, Inc Post Record Quarterly Revenue
Kona Gold Beverage (KGKG) announced record gross revenues of approximately $1,230,000 for Q2 2022, marking a 15% increase from Q1 and a 44% rise year-over-year. The success is attributed to its subsidiary Gold Leaf Distribution, generating about $955,000, while Kona Gold LLC contributed around $275,000. Despite delays in rolling out the new Sparkling Ooh La Lemin Lemonades to a national retailer, the company remains optimistic about growth and expansion into new markets.
- Achieved record gross revenue of approximately $1,230,000 in Q2 2022.
- 15% revenue increase from Q1 2022 and 44% from Q2 2021.
- Growth driven by success of Gold Leaf Distribution subsidiary.
- Near completion of 2021 revenue in just the first two quarters of 2022.
- Expansion plans and hiring new talent to support growth.
- Delay in the rollout of new product Sparkling Ooh La Lemin Lemonades to early October.
Melbourne, FL, July 05, 2022 (GLOBE NEWSWIRE) -- 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 its second quarter gross revenue is the highest quarterly gross revenue in Company history. The Company’s subsidiaries combined gross revenue was approximately
Kona Gold Beverage continues to experience phenomenal growth across its subsidiaries and has nearly matched all 2021 revenues in the first two quarters of 2022. This growth has been driven by the success of its Gold Leaf Distribution subsidiary and the recent launch of its Sparkling Ooh La Lemin Lemonades. The Company is in the process of hiring new talent to assist in facilitating growth in new markets and continue its expansion.
“During a time of such turbulence in our current market, with beverage brands unable to secure production and other brands laying off staff, we continue to grow our brands, expand our market presence, and hire new team members, and I am excited with our Company’s direction,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “Our team, across both subsidiaries, continue to perform and meet company goals. We are really excited for what is to come in Q3 and Q4 as we expand into new territories. New personnel will be joining our team and leading those efforts.”
Clark continued, “We anticipated to be rolling out our Ooh La Lemin in June to a national retailer, but that roll out has been delayed until their store sets are completed, which is anticipated to be around the early October time frame. Even with the delay of that rollout, the Company posted its biggest quarterly revenue in Q2.”
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 rebranded its Lemin Lemonade to Ooh La Lemin Lemonade; please visit its website at www.oohlalemin.com. Kona Gold and its family of companies are located on the east coast of Florida in Melbourne and in Greer and Conway 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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