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Enjoy Technology announced its Q1 2022 financial results, revealing a 24.2% revenue increase to $24.0 million compared to Q1 2021. However, the company reported a net loss of $55.2 million and a mobile store loss of $10.8 million. The Board has initiated a strategic review, exploring alternatives like a potential sale or merger. Enjoy has secured $10 million in interim financing but warns that cash resources may not suffice beyond June 2022, prompting ongoing discussions with potential financing sources.
Enjoy Technology, Inc. (NASDAQ: ENJY, ENJYW) announced its financial results for Q4 and the full year ending December 31, 2021, highlighting its innovative 'Commerce at Home' platform. Founded by ex-Apple executive Ron Johnson, Enjoy aims to enhance the retail experience by delivering products directly to consumers. The company has formed long-term partnerships with leading brands and operates across the U.S., Canada, and the U.K. A conference call to discuss these results is scheduled for 5:00 p.m. ET.
Enjoy Technology reported financial results for Q3 2021, showing a 13% year-over-year revenue increase to $18.6 million. Year-to-date revenue reached $58.8 million, marking a 39% growth. The company added nearly 50% more stores in North America amid supply chain challenges, which negatively impacted earnings by approximately $4 million. Enjoy has updated its 2021 revenue outlook to $80 - $90 million due to inventory constraints but remains optimistic for growth in 2022, especially with the Smart Last Mile™ launch.
