Glow Lifetech Delivers 480% Quarter-Over-Quarter Revenue Growth With Industry-Leading 70% Gross Margin
Glow Lifetech Delivers 480% Quarter-Over-Quarter Revenue Growth With Industry-Leading 70% Gross Margin
Toronto, Ontario--(Newsfile Corp. - August 13, 2024) - Glow Lifetech Corp. (CSE: GLOW) (OTC PINK: GLWLF) (FSE: 9DO) ("Glow" or the "Company") is pleased to provide a business update following strong revenue growth in Q1 2024, ending March 31, 2024. Glow achieved a 480% increase in revenue quarter-over-quarter and an impressive 70% gross margin, marking a key turning point for the Company and reflects a successful strategic shift from R&D to full-scale commercialization.
多伦多, 安大略省-(新闻通讯社2024年8月13日)-Glow Lifetech Corp. (CSE: GLOW) (OTC PINK: GLWLF) (FSE: 9DO) (以下简称"Glow"或"公司")很高兴在2024年第一季度结束于2024年3月31日之后提供业务更新。 Glow季度收入同比增长480%,毛利润高达70%,标志着公司的一个关键转折点,反映出从研发向全面商业化的成功战略转变。
Financial Performance Highlights
财务表现亮点
Strong Revenue Growth: Glow achieved $148,107 revenue for Q1 2024, up 480% from the previous quarter and compared to zero revenue in the year prior (Q1 2023). This marks a significant achievement in our development, reflecting a successful launch of our new cannabis products, and continued momentum in our market. Net loss was $261,826 for Q1 2024, a 40% improvement over Q4 2023.
High Gross Margins: Delivered gross margins of 70% for Q1 2024, demonstrating Glow's focus on delivering healthy, sustainable gross margins. A notable achievement that underscores the Company's lean & efficient business model and ability to deliver profitable revenue growth.
Strengthening Balance Sheet: Following Q1 2024, Glow strengthened its balance sheet, improving its financial health and flexibility. The Company expects further enhancements in 2024 to provide greater financial flexibility to execute its growth strategy. On April 26, 2024, Glow completed a private placement raising $605,0001 (see Glow release dated April 26, 2024) and settled $211,837 of indebtedness on Feb 16, 2024 (see Glow release dated Feb 16, 2024).2
强劲的营业收入增长: Glow在Q1 2024实现了148,107美元的营业收入,同比增长480%,而前一季度营业收入为零,与去年同期(Q1 2023)相比。这标志着我们发展的重要里程碑,反映出我们新大麻产品的成功推出,并持续推动我们的市场动力。Q1 2024的净亏损为261,826美元,比Q4 2023改善了40%。
高毛利率: 在Q1 2024交付了70%的毛利率,表明Glow专注于提供健康,可持续的毛利率。这是一个显着的成就,强调了公司的精益高效业务模式和提供盈利增长的能力。
加强资产负债表: 在2024年第一季度结束后,Glow加强了资产负责表,提高了其财务健康程度和灵活性。公司预计,在2024年将进一步改善,以提供更大的财务灵活性来执行其增长策略。2024年4月26日,Glow完成了一项私募股份发行,筹集了605,0001美元(参见Glow发布的日期为2024年4月26日的公告),并在2024年2月16日结清了211,837美元的欠款(参见Glow发布的日期为2024年2月16日的公告)。2
"We are pleased to report strong Q1 results, achieving a significant step forward in revenue growth combined with a 70% gross margin is a remarkable accomplishment in a sector that often struggles to deliver sustainable, profitable growth," said Rob Carducci, CEO, Glow Lifetech. "2024 is shaping up to be a transformational year for Glow; with strong early traction from our recent cannabis brand launches in Canada, accelerating revenue growth, and a healthy, sustainable business model in place, we are primed for growth and have a clear path to sustained profitability."
Recent Business Highlights
"我们很高兴报告第一季度强劲的业绩,实现营收增长的重大进展以及70%的毛利率是一个非常出色的成就,在这个常常难以实现可持续,盈利增长的行业中," Glow Lifetech的CEO Rob Carducci表示。"2024年对Glow来说是一个变革性的一年; 凭借我们最近在加拿大大麻品牌推出的强劲初动力,不断增长的营收,以及健康,可持续的业务模式,我们已为增长做好准备,并有了持续盈利的明确路径。"
最新业务亮点
New Product Launches: In Q1 2024, Glow launched 4 new cannabis products into the Ontario market, expanding its MOD drops and .decimal capsules product ranges, more than doubling its available SKU portfolio to 7 SKUs total. In Q2 2024, the Company launched an additional 3 SKUs for a total of 10 SKUS available in Ontario, further bolstering its revenue generating activities.
Growing Store Penetration: Retail distribution continues to accelerate in Ontario, achieving store penetration of ~100+ stores by Q1 2024 and quickly ramping up to ~500+ stores in Ontario to-date as a result of increased sales & marketing efforts. The Company is firmly focused on expanding store penetration in Ontario to solidify its winning position, and expanding to new provinces across Canada.
Category-leadership: Glow's innovative technology and differentiated products continue to build momentum in the market. MODdrops have quickly risen to secure the #1 water-soluble drop brand in Ontario and notably has become the #3 brand in the broader Oils category as of June 2024 (based on OCS Wholesale data).
新品牌推出: 2024年Q1,Glow在安大略省市场推出了4款新大麻产品,将其MOD滴和十进制胶囊产品范围扩大,将其可用SKU组合多达7个。 在Q2 2024,公司推出了另外3个SKU,以总计10个SKU在安大略省市场上可用,从而进一步增加了收入。
不断增长的商店覆盖率: 在安大略省,零售分销持续加速,Q1 2024的商店覆盖率达到了100多个商店,并迅速增至安大略省的500多个商店,这是因为销售和市场营销力度的增加。公司专注于扩大在安大略省的商店覆盖面,巩固其胜利地位,并扩大至加拿大其他省份。
行业领导者: Glow的创新技术和差异化产品继续在市场上建立动力。 MODdrops已迅速崛起,立足于安大略省的可溶于水的顶级品牌,并已成为2024年6月OCS Wholesale数据的第三个品牌(基于Oils类别)。
"In Q1 2024, we established a solid foundation for future growth and remain optimistic about accelerating market share, as we launch more SKUs, scale-up retail distribution, and capitalize on growth opportunities across the country," said Rob Carducci, CEO, Glow Lifetech. "Our innovative products are proven winners in the market, as demonstrated by MOD drops having already secured the #1 water-soluble brand in Ontario."
"在Q1 2024,我们为未来的增长奠定了坚实的基础,并保持了对在启动更多SKU,扩大零售渠道和利用整个国家的增长机会充满信心," Glow Lifetech的首席执行官Rob Carducci表示。"我们的创新产品在市场上已经证明是获胜者,正如MOD滴已经确立好在安大略省的领先地位。"
Glow's early commercial success and growing demand for its innovative product portfolio reinforce leadership's confidence in their strategic direction. In 2024, Glow will maintain a disciplined and measured approach while aggressively advancing a growth agenda. With proprietary technology, differentiated & category-leading products, and a sustainable business model, the Company is well-positioned for success in the Canadian cannabis market and beyond.
Glow的早期商业成功和对其创新产品组合不断增长的需求,强化了领导层对其战略方向的信心。 2024年,Glow将保持严谨和谨慎的方法,同时积极推进增长议程。 凭借专有技术,差异化和市场领先的产品以及可持续的业务模式,该公司在加拿大大麻市场和其他市场处于有利地位。
SUBSCRIBE: For more information on Glow or to subscribe to the Company's mail list visit:
订阅:有关Glow的更多信息或订阅公司的邮件列表,请访问:
About Glow Lifetech Corp
Glow Lifetech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has a groundbreaking, plant-based MyCell Technology delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.
关于Glow Lifetech Corp
Glow Lifetech是一家加拿大生物技术公司,专注于生产具有显着增强生物利用度,吸收和有效性的营养和基于大麻素的产品。 Glow拥有开创性的基于植物的MyCell技术传递系统,将吸收不良的天然化合物转化为增强的水溶性浓缩物,从而释放宝贵化合物的全部治疗潜力。
Website:
网站:
Contact:
James Van Staveren
Glow Lifetech Corp.
TF. 855-442-GLOW (4569)
ir@glowlifetech.com
联系方式:
James Van Staveren
Glow Lifetech Corp.
TF. 855-442-GLOW (4569)
ir@glowlifetech.com
Forward-looking Information Cautionary Statement
前瞻性信息警示声明
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at .
除了历史事实陈述外,本新闻稿还包含某些适用证券法律规定下的"前瞻性信息"。前瞻性信息经常以"计划","期望","项目","意向","相信","预计"和其他类似的词汇或某些事件或条件"可能"或"将"发生。前瞻性陈述基于发布日期的意见和估计,并且受到各种风险和不确定性以及其他因素的影响,这些因素可能导致实际事件或结果与前瞻性陈述中预期的事件或结果不同,包括但不限于监管批准方面的延迟或不确定性,包括CSE的批准。前瞻性陈述受到前瞻性信息内在的不确定性的影响,包括公司无法控制的因素。如果情况或管理估计或意见发生变化,前瞻性陈述中如有需要,公司无须更新前瞻性信息,除非法律规定。读者应当注意不要过分依赖前瞻性陈述。有关可能影响财务结果的风险和不确定性的其他信息,请参阅公司在加拿大证券监管机构的文件,这些文件可在以下地点获取。
________________________
1 2
________________________
1 2