Kona Gold Beverage, Inc. Beats Q2 Estimates and Posts Biggest Quarterly Revenue
August 17 2021 - 8:00AM
InvestorsHub NewsWire
Kona Gold Beverage, Inc. Beats Q2 Estimates and Posts
Biggest Quarterly
Revenue
Melbourne, FL -- August 17, 2021 -- InvestorsHub
NewsWire -- Kona Gold Beverage, Inc. (OTCQB:
KGKG), a holding company focused on product development in the
better-for-you and hemp and CBD functional beverage sector, is
pleased to announce it has posted its 10Q, and the Company has beat
its Q2 estimates by approximately $40,000, or approximately
5.3%. Kona Gold Beverage closed out Q2 with approximately
$790,000 in revenue, approximately a 248% quarterly increase
year-over-year and an approximate increase of 71% from the previous
quarter.
Kona Gold Beverage is on track to hit its 2021
projections of $2.5-$3 million in revenue, and the Company
continues to execute on its growth strategy. The Company has
grown from 9 to 14 employees across its subsidiaries in a few short
months, and plans to be hiring an additional 3 to 4 employees this
year.
“Q2 was the Company’s biggest revenue quarter of all
time and we continue to see phenomenal growth across our
subsidiaries month-over-month,” stated Robert Clark, CEO of Kona
Gold Beverage, Inc. “With our current growth, we have been on a
hiring spree, adding several fantastic members to our team that are
making an immediate impact with sales on our Kona Gold Beverage
side and Gold Leaf Distribution
side.”
Clark continued, “We have seen a big uptick in sales
of our Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters
over the last few months with our new Territory Sales Manger making
a big impact working hand-in-hand with several of our
distributors. We will be hiring additional Territory Sales
Managers over the coming months in different regions of the U.S. in
our commitment to gain shelf and cooler space in key markets, and
to significantly increase sales.”
Kona Gold
Beverage recently announced it will be exhibiting its beverage
portfolio at this year’s NACS (National Association of Convenience
Stores) Show October 5-8 in Chicago. The
NACS Show is a premier trade show in
the country, related to convenience and fuel retailing industry,
where Kona Gold Beverage will be sampling its products to the
industry’s leading buyers.
For more information regarding Kona Gold Beverage,
please visit:
https://konagoldbeverage.com/
About Kona Gold Beverage,
Inc.
Kona Gold Beverage, Inc., a Delaware corporation, has
created wholly-owned subsidiaries, Kona Gold LLC, HighDrate, LLC,
and Gold Leaf Distribution, LLC. Kona Gold, LLC has developed
a premium Hemp-Infused Energy Drink line; please visit its website
at www.konagoldhemp.com. HighDrate, LLC has developed
the beverage industry’s first CBD-Infused Energy Water, available
in 6 delicious flavors; please visit its website at
www.highdrateme.com. Gold Leaf Distribution, LLC
was created to fill the Company’s distribution needs in markets
that it wants to enter quickly; please visit its website
at www.goldleafdist.com. Kona Gold Beverage, Inc.
recently acquired S&S Beverage, Inc., which manufactures and
distributes LEMIN Superior Lemonade line; please visit its website
at www.drinklemin.com. Kona Gold and its family of
companies are located on the east coast of Florida in Melbourne and
in Greer, South Carolina.
Safe Harbor
Statement:
The information posted in this release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You can identify these
statements by use of the words “may,” “will,” “should,” “plans,”
“expects,” “anticipates,” “continue,” “estimate,” “project,”
“intend,” and similar expressions. The Company may also make
written or oral forward-looking statements in its filings with the
U.S. Securities and Exchange Commission, in press releases and
other written materials, and in oral statements made by its
officers, directors or employees to third parties. There can
be no assurance that such statements will prove to be
accurate. The Company cautions that these forward-looking
statements are further qualified by other factors including, but
not limited to, those set forth in the Company’s Registration
Statement on Form S-1. Forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those projected or anticipated. These risks
and uncertainties include, but are not limited to, general economic
and business conditions, effects of continued geopolitical unrest
and regional conflicts, competition, changes in technology and
methods of marketing, delays in completing various engineering and
manufacturing programs, changes in customer order patterns, changes
in product mix, continued success in technological advances and
delivering technological innovations, shortages in components,
production delays due to performance quality issues with outsourced
components, and various other factors beyond the Company’s control.
The Company does not undertake any obligation to
update publicly or to revise any statements in this release,
whether as a result of new information, future events, or
otherwise.
Investor Relations
Contact:
Robert Clark
844-714-2224
investorrelations@konagoldbeverage.com
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