Generation Next Announces Fiscal Year End Revenue of $17,100,000
Representing 1,821% Increase Year-Over-Year
74 New Kiosk Installations Installed
in June Result in $3.1 Million of Revenue Recognition for the
Month
SAN DIEGO, CA -- July 2, 2019 -- InvestorsHub NewsWire --
Generation Next (OTCQB: VEND) reported June revenue of $3.1 million
on 74 deliveries bringing the total revenue for the quarter to $8.3
million on 207 kiosks. In addition, the company reported fiscal
year 2019 revenue of $17.1 million on 407 units. The Company’s
fiscal year ended on Sunday, June 30.
“It is good to have what has been a very tough fiscal year on
many fronts finish on a positive note. Earlier in the year, it
didn’t seem like it was possible to deliver 400 robots by the end
of June. We were less than $1 million in revenue in fiscal year
2018 so $17 million in 2019 seems like a small victory given we are
still recovering from the manufacturing delays we experienced
during the first half of this fiscal year,” said Nick Yates, CEO of
Generation Next Franchise Brands. “The next month revolves around
solving some short-term cash flow issues so we don’t hinder our
ability to produce what we think is an estimated $40 million over
the next fiscal year.”
Some additional highlights for the month of June include:
- Secured 50 new US locations for Reis & Irvy’s
franchisees
- Finished the month with 127 franchisees operating a Reis &
Irvy’s kiosk in the United States
- Booked 45 new Reis & Irvy’s franchises in 8 contracts worth
$2.1 million in deferred revenues (averaging $47,756 per
franchise)
- Surpassed 500,000 cups of yogurt and $2.5 million dollars of
retail sales for Reis & Irvy’s franchisees
- Signed agreement with World Franchise Associates to support
expansion in Middle East and Africa
- Secured a test with Bed Bath and Beyond in select California
locations for Print Mates Kiosks
- Reached an agreement with Redners Markets for the placement of
Print Mates Kiosks
The Company received the following press mentions during June
through its PR agency 5WPR.
- FOX Business Mornings with Maria: Rise of
Robotics
- Forbes: Robotic Vending Machines Want To
Feed You Frozen Yogurt
- Matador Network: Robots will be serving
you ice cream and printing your pictures in airports this
summer
- The Columbia Star: City Snippets
- Post and Courier: Chew On This: Robots
Will Serve You Fro Yo
The company’s CFO and COO, Ryan Polk, said, “The supply chain is
working well. The only constraint on growing our revenue right now
is cash for working capital. We are considering proposals from
investors and lenders to provide us with the working capital we
need to produce and deliver our contract backlog. Our recent filing
with the SEC opens the door for us to increase our authorized share
count thereby giving us a wider range of options for raising equity
or attaching an equity component to debt deals.”
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.
Contact: generationnext@5wpr.com