NxGen Brands Inc. Forecast to
Deliver 140% Growth in Q1 2024
Mad House Supps Brand on track for
$1.3m in revenues for 2024
Denver, CO -- March 27, 2024 -- InvestorsHub NewsWire -- NxGen
Brands, Inc. (OTC
Pink: NXGB) ("NxGen" or the "Company"), (www.nxgenbrands.com)
confirms strong Q1 sales with month on month growth through massive
increase in social media advertising presence for its Mad House
Supps Brand (www.madhousesupps.com).
The newly released Protein product is slated to arrive this week,
but is already sold out and new inventory is scheduled to be
produced in April.
CEO Joseph Lawanson commented "At NxGen Brands we promised
transparency and, with that in mind, I am pleased to bring you some
in depth facts and figures about our progress with our brand Mad
House Supps. There is a lot to take in, but I hope you appreciate
that we are building something special here and we want to share
our journey with shareholders as we continue with this successful
growth plan we are delivering."
Q4 2023 revenue for the brand, prior to the sale to NxGen, was in
the region of $86,000 as the brand was preparing to be sold, with
inventory being run down in preparation for the sale. NxGen
acquired the brand on Jan 1, 2024. Q1 2024 sales are forecast to
show 140% growth and be in the region of $200,000, at the top-end
of the forecast, for the first quarter as inventory comes back on
stream again.
Moving into Q2 of 2024, the growth in both direct to consumer as
well as in the availability of existing and new stream products for
retailers allows the company to forecast revenues of between
$250,000 and $300,000, at the top-end of the stretch forecast.
Direct to consumer growth is proving a real success point as
revenues from social media advertising starts to come on stream.
During this test phase of curating the best adverts, spend on
social media advertising has ramped up to c.$15,000 per month and
is attracting revenues close to $25,000 per month. The Company
intends to invest heavily as it moves out of this testing phase of
spending in this area. The budget in this advertising category is
expected to be closer to $45,000 as it progresses through 2024,
with projected revenues exceeding $75,000 per month from this
source alone.
The Australian licensee has also sold through most of their
inventory and is now preparing a second production as sales
throughout Asia-Pac begin to ramp up also. Mad House is sold under
license from Australia and NxGen believes this is an area of
exceptional non-US growth for the brand as it is increasingly seen
internationally as the 'go-to brand' for customers. The Company
expects revenues from this territory alone to be in excess of
$350,000 per year as it approaches the latter half of 2024.
The Company remains confident that it can deliver revenues from Mad
House Supps in 2024 in excess of $1.3m both from its domestic
audience but also from the growing international sales and
licensing partners with whom it has contracts.
About NxGen Brands,
Inc.
NxGen Holdings, Inc. is a publicly traded company under the symbol
NXGB. The Company is building a profitable Nutritional Supplements
company, comprising of several brands. www.nxgenbrands.com
https://twitter.com/NxGen_Brands
Forward-Looking Statements
This
press release may contain forward-looking statements, including
information about management's view of NxGen Brands, Inc.'s future
expectations, plans and prospects. In particular, when used in the
preceding discussion, the words "believes," "expects," "intends,"
"plans," "anticipates," or "may," and similar conditional
expressions are intended to identify forward-looking statements.
Any statements made in this news release other than those of
historical fact, about an action, event or development, are
forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors, which may cause the
results of NxGen, its subsidiaries and concepts to be materially
different than those expressed or implied in such statements.
Unknown or unpredictable factors also could have material adverse
effects on NxGen's future results. The forward-looking statements
included in this press release are made only as of the date hereof.
NxGen cannot guarantee future results, levels of activity,
performance or achievements. Accordingly, you should not place
undue reliance on these forward-looking statements. Finally, NxGen
undertakes no obligation to update these statements after the date
of this release, except as required by law, and also takes no
obligation to update or correct information prepared by third
parties that are not paid for by NxGen.
Corporate Contact:
ceo@nxgenbrands.com
www.nxgenbrands.com