Kona Gold Beverage, Inc's Closes Out 2022 with Record Revenue Month
in December
Melbourne,
FL -- January 3, 2023 -- InvestorsHub NewsWire
-- Kona Gold
Beverage, Inc. (OTCQB:
KGKG), a holding company focused on product development in the
better-for-you and functional beverage sector is pleased to
announce it closed out 2022 with a record revenue month in December
compared to all previous Decembers in Company history with
approximate revenues of just over
$400,000.
This is a
display of strength in sales as December is generally the slowest
month in the beverage industry.
Kona Gold
Beverage also finished the quarter with approximately $1,190,000 in
revenue, its second strongest quarter in Company
history.
Kona Gold
Beverage had an increase in Revenue of 172% from fiscal year 2020
to 2021 and although the Company is still finalizing numbers, the
revenue increase from fiscal year 2021 to 2022 should be
approximately 80-85%.
This marks
two years of solid back-to-back growth.
The Company
has positioned itself to have another large growth year in 2023
across its subsidiaries.
"I'm very
pleased to share with our stockholders that Kona Gold Beverage
closed out a very strong year with an even stronger December,"
stated Robert Clark, CEO of Kona Gold Beverage, Inc. "December is
generally our slowest month of the year, but with the growth of our
Ooh La Lemin Lemonade brand and extremely strong sales with our
Gold Leaf Distribution subsidiary, our team executed across the
board."
Clark
added, "Our strong December is only a preview to what is coming
down the pipe for 2023.
We are
looking forward to starting out the year very strong with a big
uptick in Ooh La Lemin Lemonade sales and continued growth with our
distribution subsidiary."
In
November, Kona Gold Beverage announced it entered into an agreement
with Strategy & Execution Inc ("SEI") to accelerate growth of
its beverage portfolio over the next three years and
beyond.
SEI has
begun to set meetings with distributors and retail chains around
the country.
The current
relationships and brand portfolio that SEI has in the market will
undoubtedly drive the Kona Gold Beverage Brands go-to-market
objectives.
Kona Gold
Beverage also recently announced its wholly owned subsidiary, Gold
Leaf Distribution, posted record revenue in the month of
November.
Record
revenue in November shows strong growth for Gold Leaf Distribution
as the winter months are historically the slowest in the beverage
industry.
Gold Leaf
Distribution posted approximately $362,000 in revenue for the month
of November.
Year-over-year
revenue growth in November doubled from the prior year's revenue,
which was approximately $180,000.
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 rebranded its Lemin Lemonade to Ooh La
Lemin Lemonade; please visit its website at
www.oohlalemin.com. Kona Gold
and its family of companies are located on the east coast of
Florida in Melbourne and in Greer and Conway 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
