SFLMaven Provides 2021 Annual Performance Metrics Following Breakout Year

Rhea-AI Summary

SFLMaven Corp. reported impressive annual growth in its 2021 report, highlighting a 35% increase in sales to over $10 million. Notable metrics include a 180% rise in inventory to $1.12 million and a $2.2 million increase in gross profits. The company also achieved a significant boost in cash, up over 5,000% to $265,000. Despite a net loss of $301,000, total customers rose by 15%, with repeat buyers increasing by 20%. SFLMaven anticipates continued growth in 2022, partially fueled by its upcoming metaverse strategy.

Positive

• Sales increased by 35% year-over-year, surpassing $10 million.
• Gross profits rose by $2.2 million, totaling $1.4 million.
• Ending inventory grew by 180% to $1.12 million.
• Total cash on hand surged over 5,000% to $265,000.
• Total customers increased by 15%, and repeat buyers were up by 20%.

Negative

• Net income was a loss of $301,000, despite improvements in other metrics.

Sales up 35%, Inventory up 180%, Gross Profits rise $2.2 million, Repeat Buyers up 20%

FORT LAUDERDALE, FL, April 01, 2022 (GLOBE NEWSWIRE) -- SFLMaven Corp. (OTC Pink: SFLM), ("SFLMaven" or the "Company") (www.sflmaven.com), a leading provider of high-end luxury goods, is pleased to announce the filing of the Company’s 2021 Annual Report, highlighting SFLMaven’s strong growth in every major metric, including Sales, Gross Profitability, Inventory Levels, Cash on Hand, Total Customers, Repeat Customers, and Net Income.

2021 Performance Highlights

• Total sales of more than $10 million, up 35% year over year
• Ending Inventory of $1.12 million, up 184% year over year
• Gross Profit of $1.4 million, up over $2.2 million year over year
• Net Income of ($301k), up over $4.1 million year over year
• Total Cash on Hand of $265k, up over 5,000% year over year
• Total Buyers up 15% year over year
• Repeat Buyers up 20% year over year

Management notes that the Company saw strong growth across key metrics reflecting better execution as well as an improving macro environment. The Company also benefited during the second half of the year from a competitive advantage over other jewelry and luxury goods sellers due to a lack of dependence upon a global supply chain and manufacturing foundation.

The Company is already on pace for even stronger growth in 2022, which may be further augmented by the implementation and launch of SFLMaven’s metaverse strategy as it lays a foundation to become the first native dealership of high-end vintage digital jewelry NFT items for avatar use in the metaverse.

“2021 was a breakout year for the Company, even though it is already being sharply outpaced by our performance thus far in 2022,” noted Joseph Ladin, CEO of SFLMaven. “We saw tremendous gains in every major metric and achieved gross profitability through improved efficiency, better product sourcing, increased web presence and traffic, and more repeat customers. We also ended the year with a much bigger stockpile of cash and product inventory, laying a foundation for the explosive growth we have seen so far in 2022.”

Follow SFLMaven on social media:

Twitter: @sflmaven
Instagram: sflmaven

About SFLMaven

SFLMaven Corp. (OTC Pink: SFLM) is a premium provider of high-end luxury goods to a global base of discerning patrons. Famous for its Thursday Night Auction events on its top-rated eBay store, SFLMaven has driven over $140 million in sales since inception, earning more than 100k positive reviews along the way.

For more information, please visit the Company's website at www.sflmaven.com.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements, including information about management's view of SFLMaven Corp.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'plans,' 'anticipates,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of SFLMaven, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on SFLMaven's future results. The forward-looking statements included in this press release are made only as of the date hereof. SFLMaven cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SFLMaven undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by SFLMaven.

SOURCE: SFLMaven Corp.

Corporate Contact
info@sflmaven.com

Public Relations
EDM Media, LLC
https://edm.media

FAQ

What were the 2021 sales figures for SFLMaven Corp. (SFLM)?

SFLMaven reported sales of over $10 million in 2021, reflecting a 35% increase year-over-year.

How much did SFLMaven's gross profits increase in 2021?

The gross profits for SFLMaven rose by $2.2 million in 2021, totaling $1.4 million.

What is SFLMaven's inventory growth in 2021?

SFLMaven's inventory increased by 180% year-over-year, amounting to $1.12 million.

What was SFLMaven's net income for 2021?

SFLMaven reported a net income loss of $301,000 in 2021.

What is SFLMaven's cash position as of 2021?

SFLMaven ended 2021 with total cash on hand of $265,000, representing a growth of over 5,000% from the previous year.