- The popularity of vaping is driving analysts to predict a significant CAGR of well over 20 percent during the coming years
- VPR Brands’ vape accessory products, as well as its new cannabidiol product division, have helped the company record a 28 percent revenue increase for the past year
- The year also boosted VPR Brands’ operating loss into positive territory, as well as the company’s gross operating margin
Atomization technology product innovator VPR Brands, LP (OTC: VPRB), celebrating a year of increasing revenues for its vaporizer and essential oils accessories, has announced its year-end financial results.
“Much of 2018 was focused on expanding our sales channels, launching new products and building our brands. We are pleased with the results of these efforts and are excited to continue this course of improving operational efficiencies and expansion,” VPR Brands COO Dan Hoff stated as the company presented its report (http://cnw.fm/im4AD).
The company’s revenues for the 12 months ended December 31 topped $4.6 million, rising nearly 28 percent on the strength of new product sales during the year. As VPR Brands increased its full-year revenues, it reversed its operating loss into positive territory, crossing the $9,000 threshold. Gross operating margins for the year increased by almost 20 percent to a margin of 41 percent.
As product sales increased, the company also increased its inventory by about $263,000 in anticipation of further success, resulting in a growth of the company’s assets, which were valued at $767,209 as of December 31.
“We have all tirelessly worked to build a strong foundation and prove we are capable of maintaining consistent and sustainable growth and still be mindful of financial performance,” CEO Kevin Frija stated in a news release.
Frija applauded the success of the company’s Goldline cannabidiol (CBD) product division during the year, calling it “a good parallel” to VPR’s vape portfolio and a means of generating a positive vibe in the nutraceuticals and edible supplements sectors.
“We believe that the repeat business frequency in these sectors adds an exponential factor into our growth equation… We expect to continue to add to our product line, while also increasing our supply to meet growing demand,” he told shareholders at year’s end (http://cnw.fm/Ih3C2).
VPR Brands specializes in vaporization devices created for medical cannabis and recreational marijuana use. The vaping devices provide a mechanism for using extract oils and concentrates in a discrete and convenient manner, without the distinct and lingering odors that have historically resulted from smoked marijuana use.
Research and Markets analysts anticipate that the multi-billion-dollar global vaping tank market will grow at a CAGR of 28.92 percent during the next five years (http://cnw.fm/7cpRd), while Grand View Research predicts a CAGR of 23.8 percent through 2025 (http://cnw.fm/dgZb8).
For more information, visit the company’s website at www.VPRBrands.com
NOTE TO INVESTORS: The latest news and updates relating to VPRB are available in the company’s newsroom at http://cnw.fm/VPRB
About HempWire
HempWire (HW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) HempNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, HW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. HW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, HW brings its clients unparalleled visibility, recognition and brand awareness. HW is where news, content and information converge.
To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.hempwire.com
Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.hempwire.com/disclaimer/
Do you have a questions or are you interested in working with HW? Ask our Editor
HempWire (HW)
Denver, Colorado
www.hempwire.com
303.498.7722 Office
[email protected]
