Welcome to our dedicated page for Brownies Marine Group news (Ticker: BWMG), a resource for investors and traders seeking the latest updates and insights on Brownies Marine Group stock.
Brownie’s Marine Group, Inc. (OTCQB: BWMG) generates news around its portfolio of industrial breathing air and recreational diving businesses. Company updates frequently highlight developments in tankless dive systems, high-pressure breathing air equipment, redundant air safety products and watersports technologies across its subsidiaries Brownie’s Third Lung, BLU3, LW Americas, Submersible Systems and Live Blue.
News coverage often focuses on product launches and enhancements. Recent announcements have detailed BLU3’s introduction of the Nomad Mini battery-powered tankless dive system, the evolution of the Nemo and Nomad platforms, and the transition from legacy gasoline-powered THIRD LUNG units to the battery-powered Sea Lion system. The company also reports on Submersible Systems’ HEED 3 rescue air model and the performance of SPARE AIR as a complementary safety product.
Investors and enthusiasts following BWMG news can also expect updates on distribution agreements and market expansion. BLU3’s role as exclusive distributor and service center for the SeaNXT Elite underwater scooter in North and South America and non-French Caribbean territories has been a recurring topic, along with efforts to build dealer and service networks and to showcase products at major boat and dive shows in the United States and abroad.
Operational and corporate news includes financial results, subsidiary performance metrics, facility moves such as the relocation of headquarters to Davie, Florida, and the development of Live Blue’s guided tour and dive coaching model. For those tracking BWMG, the news stream provides insight into how the company’s various brands are progressing in the recreational diving, marine and industrial breathing air markets. Regular visits to this page can help readers monitor new product introductions, strategic partnerships and key operational milestones disclosed by Brownie’s Marine Group.
Brownie’s Marine Group (OTCQB: BWMG) announced that its subsidiary, BLU3, Inc., is accepting pre-orders for the Nomad Mini, a battery-powered tankless dive system. This product features proprietary DiveBoost™ technology that enhances performance with increased depth and runtime. The company emphasized user feedback in the Nomad Mini's design, aiming to merge the needs of snorkeling and scuba diving. Pre-orders in April will include a complimentary DiveBoost Kit. The Nomad Mini is priced starting at $1,299 and is aimed at expanding BLU3's market influence as a leader in portable diving solutions.
Brownie’s Marine Group, Inc. (OTCQB: BWMG) reported a 37.7% increase in total revenue for FY 2022, totaling $8.58 million compared to $6.23 million in FY 2021. Despite challenges from a product recall and economic downturn, the company experienced compounded annual growth of 42.3% over the past three years. Revenue contributions include $1.59 million from Submersible Systems and $3.1 million from BLU3, which saw a 36.2% increase. However, Q4 2022 saw a 30.5% decline in revenues compared to Q4 2021. Operational costs remain a concern, with a net loss of $1.89 million for the year.
Brownie’s Marine Group (BWMG) reported strong financial growth for Q3 2022, with total net revenues surging 80.2% year-over-year to $2.81 million. Key highlights include a 193.9% increase in LW Americas sales, reaching $350.8 thousand, and a 187.2% revenue boost from BLU3, Inc., totaling $980.2 thousand. Adjusted net income rose to $141.9 thousand, compared to a loss of $126.6 thousand in Q3 2021. Year-to-date revenues reached $7.19 million, a 70.2% increase from $4.22 million in 2021, highlighting the company's operational success and market expansion.
Brownies Marine Group, Inc. (OTCQB: BWMG) has announced that its subsidiary, BLU3, Inc., has shipped its 1,000th unit of the Nomad dive system, launched in Q4-2021. This milestone reflects strong demand as BLU3 has sold over 5,000 units of both the Nemo and Nomad systems combined. The Nomad reaches depths of 30 feet, building on the success of its predecessor, Nemo, which was launched in Q3-2019. The company plans to enhance brand exposure and product sales through a worldwide guided tour model for customers.
Brownie’s Marine Group, Inc. (OTCQB: BWMG) reported a robust financial performance for Q2-2022, with net revenues rising by 40.2% to $2.40 million, compared to $1.71 million in Q2-2021. Adjusted net income surged 109.1% to $89.5 thousand from $42.8 thousand year-over-year. The H1-2022 revenue grew by 64.3% to $4.37 million. The BLU3 division led growth with a 94.5% revenue increase. However, supply chain issues in June caused some back-orders. The recent acquisition of Gold Coast Scuba, Inc. is expected to enhance growth opportunities.
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