Namaste Announces Record Monthly Sales of CAD$1.108M
June 07 2017 - 11:37AM
Namaste Technologies Inc. (“
Namaste” or the
“
Company”) (CSE:N)(FRANKFURT:M5BQ)(OTCMKTS:NXTTF)
is pleased to announce that it has achieved record monthly sales
and traffic for the month of May. The total unaudited sales amount
for May is CAD$1.108 million representing a 4.7% increase in sales
from April.
The table below depicts at a high level gross
revenues including traffic and conversion rates for Namaste sites.
Note that ‘Namaste’ from the table below represents all sites which
operate under the ‘Namaste Vapes’ brand. This table does not
include revenue generated from wholesale, drop shipping or other
sales channels.
Total net sales as reported by the Company
(including shipping revenues and after discounts and refunds) were
CAD$1,108,034 in May 2017, as compared to CAD$1,058,192 in April
2017, representing a 4.7% increase.
Below are gross sales of the major sites
operated by the Company. Not included are drop-ship sales,
Distribution Goods, channel sales and direct sales. These represent
approximately 9.9% of total revenues. Revenues below are excluding
shipping revenues and before discounts and refunds. Effective May
7, 2017 VaporSeller is integrated with NamasteVapes.
Select operating data May 2017 in
$CAD
|
Traffic |
Conversion |
Orders |
Basket Price |
Gross Revenues |
Namaste |
109,677 |
1.72 |
% |
1,883 |
$ |
235 |
$ |
442,930 |
Australian Vaporizers |
47,472 |
4.03 |
% |
1,911 |
$ |
193 |
$ |
368,003 |
EDIT |
248,248 |
0.75 |
% |
1,867 |
$ |
88 |
$ |
163,840 |
GreenVapes |
3,394 |
1.86 |
% |
63 |
$ |
302 |
$ |
19,039 |
|
|
|
|
|
|
Total |
411,821 |
1.40 |
% |
5,772 |
$ |
173 |
$ |
996,711 |
Further analysis of the e-commerce sites shows
that the percentage of recurring traffic of the larger sites has
increased and is currently between 28% and 37% of total traffic
depending on the site. In addition, recurring revenues represent
more than 50% of total revenues which points at an increased
average basket price for recurring customers. Furthermore the
conversion ratio of recurring traffic is much higher than the
conversion of new visitors. The conversion of new visitors to the
Namaste Vapes sites was 1.01% and for recurring visitors it was
2.99% in May. The conversion of new visitors to the EDIT sites was
0.52% and for recurring visitors it was 1.33% in May.
The Company made good progress with its
wholesale division Distribution Goods. Revenues in May increased
with 8.9% to C$72,324 compared with the previous month.
Distribution Goods was the fastest growing division after
Australian Vaporizers, which reported a 15% increase in sales in
May compared with April.
Management Commentary
Sean Dollinger, President and CEO of Namaste
comments: “We are very pleased with the results of May sales. The
integration of Australian Vaporizers has gone well thanks to our
management team and we are expecting continued growth along with
reduction of operating expenses going forward into this
quarter.”
About Namaste Technologies
Inc.
Namaste Technologies Inc. is an emerging leader
in vaporizer and accessories space. Namaste has 26 ecommerce retail
stores in 20 countries, offers the largest range of brand name
vaporizers products on the market and is actively manufacturing and
launching multiple unique proprietary products for retail and
wholesale distribution. The Company is currently focused on
expanding its product offering, acquisitions and strategic
partnerships, and entering new markets globally.
On behalf of the Board of Directors
“Sean Dollinger”Chief Executive Officer Direct:
+1 (786) 389 9771Email: info@namastevapes.com
Further information on the Company and its
products can be accessed through the links below:
www.namastetechnologies.com
www.namastevaporizers.com
www.namastevaporizers.co.uk
www.vaporseller.com
www.everyonedoesit.com
www.everyonedoesit.co.uk
FORWARD LOOKING INFORMATION This press release
contains forward-looking information based on current expectations.
These statements should not be read as guarantees of future
performance or results. Such statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different
from those implied by such statements. Although such statements are
based on management's reasonable assumptions, Namaste assumes no
responsibility to update or revise forward looking information to
reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions
on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking
statements because the Company can give no assurance that they will
prove to be correct. Since forward looking statements address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. These statements speak only as of
the date of this press release. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks including various risk factors discussed in the
Company's disclosure documents which can be found under the
Company's profile on www.sedar.com. This press release contains
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such forward
looking statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. The CSE
has neither reviewed nor approved the contents of this press
release.
Contact:
Main: + 1 (786) 389-9771
www.namastetechnologies.com
info@namastevapes.com