Generation Next Announces May 2019 Results
57 new kiosk installations result in $2.2
million of revenue recognition
SAN DIEGO, CA -- June 5, 2019 -- InvestorsHub NewsWire --
Generation Next reported May revenue of approximately $2.2 million
on 57 kiosk installations bringing the total revenue for the
quarter to approximately $5.2 million. The Company repeated its
expectation for revenue of $8.0 million for the fourth quarter
ending June 30, 2019 and fiscal year revenue of $16.0 million.
“Production in the month of May was solid; we installed 57 units
however we also replaced 14 alpha units already in the field with
new technology and this slowed us down somewhat. The locations team
delivered a monthly record securing 55 new locations for our
franchisees, and franchise sales were within expectations given we
had to re-file our franchise documents forcing us to stop selling
for a period,” said Nick Yates, CEO of Generation Next Franchise
Brands. “We finished the month with a great reception at the
International Franchise Expo for Reis & Irvy’s, and the team at
Print Mates is building the right assortment of retail and grocery
chains around the country for us to test the product as we begin
building our corporate owned route.”
Highlights for the month of May include:
- Delivered 57 Reis & Irvy’s unattended frozen yogurt robots
to new locations (replaced 14 alpha units in existing
locations)
- Reached 319 global units delivered with 274 in the United
States and 45 combined in Australia and Canada
- Secured 55 new US locations for Reis & Irvy’s
franchisees
- Finished the month with 123 franchisees operating a Reis &
Irvy’s kiosk in the United States
- Sold an exclusive Reis & Irvy’s territory in Columbia,
South Carolina
- Booked 30 new Reis & Irvy’s franchises worth $1.5 million
in deferred revenues
- Entered into an agreement with a US mass market retailer to
test Reis & Irvy’s in 10 locations
- Surpassed 400,000 cups of yogurt and $2.0 million of retail
sales for Reis & Irvy’s franchisees
- Announced the signing of a partnership between Reis &
Irvy’s and Vons (a division of Albertsons) to test locations within
Southern California
- US State Department approves Passport Photo Printed at Print
Mates Kiosk
The Company received the following press mentions during May
through its new PR agency 5WPR.
- Yahoo! Finance: Meet the robot that
serves frozen yogurt
- Cheddar: This Robot Can Make You a
Customized Frozen Yogurt
- Retail Environments: Robot-staffed kiosks
may be coming to US airports
- Airport Experience News: AMAC, Generation
Next Partner On Automated Kiosks
- Vending Times: Generation Next Inks $2M
Exclusive Franchise Contract For Columbia, SC
- Midlands Biz: Generation NEXT Franchise
Brands announces $2 million franchise contract for Columbia
- Kiosk Marketplace: Reis & Irvy’s
signs franchise agreement for frozen dairy kiosks in South
Carolina
- Food Dive: Generation NEXT Franchise
Brands Announces $2 Million Exclusive Franchise Contract for
Columbia, South Carolina
- The State: Frozen yogurt from a robot?
It’ll be served up at 20 Columbia kiosks soon
- WIS10-TV (NBC South Carolina): A $2
million deal is bringing robot-staffed frozen yogurt kiosks to
Columbia, y’all
The Company began delivering and installing Reis & Irvy’s
kiosks in June 2018 and halted during December to repair
engineering and manufacturing flaws in what it refers to as alpha
units. These repairs took hold in February when the Company resumed
manufacturing. Yates noted, “We decided to use a portion of our new
production in May to replace multiple alpha units which require a
higher level of upgrading then we can perform in the field. That
decision lowered our May revenue target, but it was the right thing
to do for our franchise network and the Reis & Irvy’s brand. We
are on track to deliver the fourth quarter revenue we communicated
in April. We enter June with an inventory of 48 Reis & Irvy’s
kiosks in our possession and ready for installation.”
For more information, visit Generation NEXT
Website: www.gennextbrands.com or
call Toll-Free (888) 902-7558.
About Generation NEXT Franchise Brands,
Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego,
California, is a publicly traded company on the OTC Markets trading
under the symbol OTCBB: VEND. Generation NEXT Franchise Brands,
Inc. develops, distributes, and operates unattended retail
platforms through the subsidiaries of Reis and Irvy’s, Inc., Print
Mate Kiosks, Inc. and 19 Degrees, Inc. the managing partner of 19
Degrees Corporate Service LLC.
About Reis & Irvy’s, Inc.
Reis & Irvy’s, Inc. is a subsidiary franchise concept of
Generation NEXT Franchise Brands, Inc. (VEND). Launched in early
2016, the revolutionary Reis & Irvy’s Vending Robot serves
seven different flavors of frozen yogurt, ice cream, sorbets and
gelatos, a choice of up to six custom toppings and to customers
within 60 seconds or less at the point of sale. The unique
franchise opportunity has since established itself as a high-demand
product and currently showcases a franchise network both
domestically as well as internationally.
www.reisandirvys.com
About Print Mates
Print Mates™ was formed by a team of entrepreneurs, engineers,
and photography professionals in San Diego that are on a mission to
reinvent the premium-quality photo printing experience by making it
fast, fun, and inexpensive to get your photos “out of your phone
and into your hand” with the Print Mates™ Kiosk - and creating a
golden opportunity for retailers in the process.
Print Mates’™ easy-to-use, patented touchscreen kiosks are
promising to close the loop on the consumer photo lifecycle, as
well as drive much-needed foot traffic to traditional
brick-and-mortar businesses ranging from supermarkets, grocery and
drug stores to big box retailers, shopping malls, family fun
centers, hotels, airports and more.
The company began a nationwide expansion in 2019 by offering
retailers, business owners and forward-thinking retailers across
the country an opportunity to own a piece of an emerging
multi-billion dollar industry.
Print Mates™ Kiosks and ever-expanding product line of
photographic decor, gifts, prints and accessories are proudly Made
in the USA.
www.printmates.com
This information is not intended as an offer to sell, or the
solicitation of an offer to buy, a franchise. It is for information
purposes only. No Reis & Irvy’s franchises will be sold to any
resident of any state until the offering has been exempted from the
requirements of, or duly registered in and declared effective by,
such state and the required FDD (if any) has been delivered to the
prospective franchisee before the sale in compliance with
applicable law. Currently, the following states in the United
States regulate the offer and sale of franchises: California,
Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York,
North Dakota, Oregon, Rhode Island, South Dakota, Virginia,
Washington, and Wisconsin. If you reside in one of these states, or
even if you reside elsewhere, you may have certain rights under
applicable franchise laws or regulations.
Cautionary note on forward-looking statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include, among others,
statements concerning our future financial performance, including
statements regarding: our ability to generate revenue and recognize
deferred revenue; our ability to timely launch delivery and
installation of our frozen yogurt robots; and our ability to grow
our franchising and licensing divisions and launch our
corporate-owned and direct sales platforms. The Company bases these
forward-looking statements on its current expectations, estimates
and projections about future events and the industry in which it
operates using information currently available to it. Actual
results could differ materially from those discussed in, or implied
by, these forward-looking statements. Forward-looking statements
are identified by words such as “believe,” “anticipate,” “propose,”
“expect,” “intend,” “plan,” “will,” “may,” “estimates,” variations
of such words and other similar expressions. In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements. Factors that could cause actual results
to differ from those implied by the forward-looking statements
contained in this press release are set forth in our filings with
the Securities and Exchange Commission (SEC), including our most
recent Annual Report on Form 10-K for the year ended June 30, 2018,
our Quarterly Reports, and our Current Reports on Form 8-K. Be
advised that developments subsequent to this press release are
likely to cause these statements to become outdated and the Company
is under no obligation (and expressly disclaims any such
obligation) to update or revise any forward-looking statements
whether as a result of new information, future events, or
otherwise.
generationnext@5wpr.com