ToughBuilt Industries, Inc. WT EXP 110923 - TBLTW STOCK NEWS

ToughBuilt Industries, Inc. (NASDAQ: TBLT; TBLTW) has launched its new 500 ft. Rotary Laser Level Kit, featuring a unique 3-piece stacking guide rod for easy, one-handed operation. This product emits an accurate laser visible up to 500 feet and includes a rapid-use tripod. Available through major US home improvement retailers, this kit expands ToughBuilt's offerings in the growing laser measurement market, projected to reach nearly $5.9 billion by 2026. CEO Michael Panosian expressed optimism about enhancing revenue and brand presence in the professional-grade tools sector.

ToughBuilt Industries reported gross sales of $3.91 million for Q3 2022 via Amazon, marking a 28% increase from Q3 2021. Year-to-date sales reached $10.92 million, up 24% from $8.30 million in the prior year. CEO Michael Panosian highlighted their growth despite market volatility and emphasized plans to expand global Amazon presence and product availability. The company focuses on innovative tools and accessories for construction markets, aiming to enhance performance and brand loyalty.

ToughBuilt Industries, Inc. (NASDAQ: TBLT; TBLTW) has announced partnerships with four major German retailers, significantly enhancing its presence in the European market. These retailers include Delker, Witte, Vageler & Christiansen, and Bernd Ulbricht Nachf, expanding ToughBuilt's reach to tens of thousands of end users across Europe, which accounted for 35% of the global hand tools market in 2022. CEO Michael Panosian highlighted that these alliances are pivotal for capturing market share in the EU and enhancing brand awareness.

ToughBuilt Industries (NASDAQ: TBLT; TBLTW) has launched a new line of innovative tools, including the ShockStop™ hammer series, entering the $3.5 billion global tool-hammer market. The ShockStop™ design reduces felt recoil and fatigue while maximizing impact, enhancing user experience. CEO Michael Panosian expressed confidence that these leading solutions will improve brand awareness and market share, supporting revenue growth. ToughBuilt focuses on innovative products for the construction industry and has experienced significant sales growth since its inception in 2013.

ToughBuilt Industries, Inc. has expanded its UK storefront network through agreements with major retailers including Huws Gray, Selco Builders Warehouse, MKM, City Electrical Factors, and Carpet & Flooring. This expansion adds over 900 retail locations, enhancing ToughBuilt's market presence. The CEO emphasized confidence in growing market share and brand awareness in the UK. The company, known for its innovative construction products, aims to enhance product performance and well-being for end users.

ToughBuilt Industries, Inc. (NASDAQ: TBLT; TBLTW) has launched 21 new SKUs in the global handsaws segment, featuring the innovative QuickSet™ Double-Edge Pull Saw, the first safe-folding pull saw. The product line will be available in Q4 2022 through a major US home improvement retailer and a network serving 15,500 stores globally. The global hand saws market, valued over $450 million, is expected to grow to $565.3 million by 2028. CEO Michael Panosian anticipates capturing market share with this unique offering, highlighting innovation as crucial for demand.

ToughBuilt Industries, Inc. (NASDAQ: TBLT; TBLTW) announced a significant expansion in Switzerland, partnering with Steinemann AG and Tegro AG to distribute its products to over 250 retailers. This collaboration aims to increase ToughBuilt's brand presence in the European hand tool market, projected to grow at a CAGR of 5.21%, reaching a Swiss DIY market worth $9.4 billion in 2022. CEO Michael Panosian expressed confidence in leveraging this opportunity to enhance brand awareness and market share within the EU.

ToughBuilt Industries has announced its entry into the global measuring and marking market with a new line of ProBlade™ Tape Measures and chalk reels. This market is valued at approximately $1.4 billion in 2021 and expected to exceed $1.8 billion by 2028. The products feature high-contrast, durable nylon blades, and are set to be available in October through major retailers and strategic partners across over 15,500 storefronts. CEO Michael Panosian highlighted this initiative as a way to generate new revenue streams and enhance market share.

ToughBuilt Industries (NASDAQ: TBLT; TBLTW) reported Q2 2022 revenues of $17.9 million, marking a 13% year-over-year increase. This growth is attributed to increased customer acceptance and new product launches. However, operating expenses rose to $17.3 million from $10.7 million in Q2 2021, mainly due to higher shipping costs and marketing expenses. The company reported a net loss of $12.1 million, an increase from $7.4 million a year prior. ToughBuilt anticipates a 25% growth for 2022 and aims for profitability in 2023.