Welcome to our dedicated page for Upexi news (Ticker: UPXI), a resource for investors and traders seeking the latest updates and insights on Upexi stock.
Upexi, Inc. (NASDAQ: UPXI) is a dynamic and multi-faceted company at the forefront of the Amazon and Direct-to-Consumer sectors. With a strong focus on health, wellness, pet, beauty, and emerging markets, Upexi aims to drive organic growth through its innovative brands and strategic acquisitions.
Specializing in the hemp and vitamin/nutraceutical space, Upexi offers a diverse range of products such as tinctures and gummies featuring cannabinoids like CBD, CBN, and CBG. These products are tailored to support various health needs, including weight management, pain relief, stress relief, and anti-inflammatory benefits. The company ensures the highest quality by manufacturing all products in-house at a state-of-the-art facility, making it a leader in wholesale and private label distribution across multiple industries.
Upexi also excels in accelerating Amazon and eCommerce businesses by leveraging consumer data and vertical integration to scale brands, thereby reducing costs through an expanding distribution network. The company has shown significant growth and profitability, as evidenced by a 144% year-over-year revenue increase in the fiscal first quarter of 2024.
Recent achievements include the launch of Tytan Tiles, which has become the #1 New Release in Preschool Building Toy Sets on Amazon and is now available on Walmart.com and TJ Maxx. The company’s strategy includes continued investment in brand growth and international market expansion, aiming to capitalize on high industry growth trends.
Financial highlights for the fiscal second quarter of 2024 show Upexi generating $21.8 million in revenue, despite a strategic reduction in re-commerce inventory risk. The company's focus on high-margin Brand Products and efficiency measures is expected to yield significant cost savings and improved profitability.
With ongoing initiatives to streamline operations and explore strategic alternatives like mergers and asset sales, Upexi remains committed to maximizing shareholder value and sustaining its growth trajectory.
Upexi Inc. (NASDAQ:UPXI) announced its acquisition of the remaining 45% interest in Cygnet Online LLC, an established Amazon seller with over 1,200 active SKUs in OTC products. This strategic move, valued at $1.95 million in structured cash payments over the next 12 months, enhances Upexi's eCommerce presence and aligns with its Amazon reseller strategy. Cygnet generated over $29.5 million in sales in 2022, demonstrating a history of growth in the OTC, supplements, and beauty markets. The acquisition is expected to foster synergy, increasing both product offerings and total sales. Upexi's CEO noted that the deal will reduce overall costs and expects continued strong performance despite economic challenges.
Upexi (NASDAQ: UPXI) announced that its CEO, Allan Marshall, will attend the 35th Annual Roth Conference in Dana Point, CA from March 12-14, 2023. This event provides an opportunity for Upexi's leadership to engage with the investment community through one-on-one meetings. The company focuses on health, wellness, beauty, and pet care sectors, aiming for growth through direct-to-consumer channels and acquisitions of eCommerce businesses. Upexi leverages in-house technology to optimize marketing and enhance customer data accumulation, which has been vital for year-over-year sales and profit increases.
Upexi Inc. (NASDAQ: UPXI) announced that its Tytan Tiles toy brand exceeded sales projections in its launch at 2,200 Walmart locations. Due to strong demand, Walmart has placed an additional order, nearly doubling initial forecasts for the first half of 2023. Furthermore, Tytan Tiles will expand to over 3,900 stores in the second half of 2023. CEO Allan Marshall highlighted the brand's success in validating the educational toy market, with plans for more product launches. Upexi aims to leverage this momentum to exceed internal sales forecasts for 2023 as it rolls out on Amazon and expands its market presence.
Upexi, Inc. (NASDAQ: UPXI) reported strong fiscal 2023 Q2 results, with revenue soaring to $27.1 million, up 444% year-over-year. Gross profit also increased, reaching $10.3 million, a 141% jump. The company achieved an Adjusted EBITDA of $119,054, recovering from a loss of $1.3 million a year ago. A net income of $2.7 million was posted, aided by a one-time gain of $7.6 million from asset sales. Shareholder equity rose to $36.9 million, and cash reserves stood at $4.5 million. CEO Allan Marshall anticipates further operational efficiency and a projected revenue goal of $100 million for calendar 2023.
Upexi Inc. (NASDAQ: UPXI), a multi-faceted Amazon and Direct to Consumer brand owner, will host a conference call on February 14, 2023, at 5 p.m. ET to discuss its fiscal 2023 second quarter financial results and provide a business update. Investors can join the live call at 1-877-407-9716 or via webcast at this link. A replay will be available until February 28, 2023. Upexi focuses on growth in health, wellness, pet, and beauty markets while aiming to enhance its consumer database through strategic acquisitions.
Upexi (NASDAQ: UPXI) has announced the launch of its children's toy brand Tytan Tiles in over 2,000 Walmart stores nationwide and a new storefront on Amazon. Tytan Tiles, known for its high-quality STEM toys, has achieved 100% year-over-year growth for two years. The brand's products have consistently ranked as bestsellers at Sam's Club and Walmart.com. Upexi plans to introduce up to four new products in 2023, further expanding its market presence. CEO Allan Marshall cited strong sales performance and strategic partnerships with major retailers as key drivers for growth.
Upexi Inc. (NASDAQ: UPXI) reported a record net revenue of approximately $17 million for its fiscal 2023 second quarter, driven by strong consumer demand across all product categories. The company's toy brand, Tytan Tiles, and positive results from the E-Core acquisition contributed significantly to this growth. CEO Allan Marshall highlighted the company's diverse brand portfolio as a stabilizing factor amid market volatility, projecting $100 million in revenue for 2023.
Upexi Inc (NASDAQ: UPXI) announced that CEO Allan Marshall will participate in a fireside chat at the Wolfe Research Fall Global Consumer Conference on December 5, 2022, at 4:15 p.m. EST. This event will focus on DTC Amazon and eCommerce trends, showcasing Upexi as a multifaceted brand owner in health, wellness, beauty, and more. Interested investors can RSVP or schedule one-on-one meetings through Wolfe Research. An audio replay will be available for 90 days on the company’s investor relations page.
Upexi Inc. (NASDAQ: UPXI) announced the expansion of its children's toy brand, Tytan Tiles, into 2,000 Walmart stores starting January 2023. Tytan has experienced significant growth, doubling sales in two years, and is recognized for its eco-conscious, educational STEM toys. Currently a bestseller at Sam's Club and Walmart.com, Tytan will feature in Walmart's 2022 Cyber Monday promotions, aligning with Walmart's STEM initiatives. Upexi's CEO highlighted this rollout as pivotal for Tytan's branding and sales potential.
Upexi, Inc. (NASDAQ: UPXI) reported a strong fiscal 2023 first quarter, achieving revenues of $11.6 million, a 199% increase year-over-year, and a gross profit of $6 million with a gross margin of 52%. However, the company faced a net loss of $2.7 million, contrasting with net income of $512,000 in the prior year. Key growth drivers included acquisitions, notably the entry into the pet market through LuckyTail. Upexi's cash reserves stood at $3.3 million, with projections of $100 million in sales for calendar 2023.
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