Kona Gold Beverage Inc Stock Price, News & Analysis

Kona Gold Beverage (OTCPK: KGKG) reported a record revenue of almost $1.3M for Q1 2023, reflecting a 79% year-over-year increase for fiscal year 2022. This growth was driven by a remarkable 154% increase from its subsidiary, Gold Leaf Distribution, and a 17% increase in sales of its Ooh La Lemin Lemonades. The company anticipates achieving $6.8M-$7M in revenue for 2023, with a projection of 200,000 case sales. Kona Gold's products will soon be available in 60 Town Pump convenience stores in Montana, expanding its market presence. CEO Robert Clark expressed confidence in the company's growth trajectory, aiming for a long-term goal of one million cases sold by 2026.

Kona Gold Beverage has officially launched its Ooh La Lemin Lemonades in Tennessee through a partnership with Lipman Brothers, a leading distributor in the region. This marks a significant milestone for Kona Gold, as the launch saw the sale of several hundred cases within just three days. The product will be available at major retailers, including Walmart. Furthermore, the company plans to expand distribution to Town Pump convenience stores in Montana, further enhancing its market presence.

Kona Gold Beverage, Inc. (OTC-PINK: KGKG) announced its Ooh La Lemin Lemonades will be available at Hot Spot convenience stores in North and South Carolina. Six of the ten SKUs will be stocked across all 40 locations, supported by a new distribution partnership with MR Williams. This expansion follows other distribution agreements, including one with A&B Distributors in Arkansas, Oklahoma, and Texas, targeting a combined population of 14 million. CEO Robert Clark expressed optimism about the brand's growth through these strategic partnerships.

Kona Gold Beverage, Inc. (OTC-PINK: KGKG) has signed a distribution agreement with A&B Distributors to market its Ooh La Lemin Lemonades in Arkansas, Oklahoma, and Texas. This partnership aims to expand the company’s presence in these new markets, which collectively have a population of approximately 14 million. A&B Distributors will cover all of Arkansas and Oklahoma, plus 19 counties in Texas, including Dallas. This move follows previous distribution agreements in San Francisco, Illinois, and Minnesota, supporting Kona Gold's goal of achieving 100% DSD distribution nationwide within 2-3 years.

Kona Gold Beverage (OTCPK: KGKG) announced a record-breaking monthly revenue of $500,000 for January, marking a significant increase from $275,000 in January last year. This milestone is noteworthy considering January is typically a slow month for the beverage industry. The company's subsidiaries, Kona Gold LLC and Gold Leaf Distribution LLC, achieved their revenue targets, with Gold Leaf experiencing an all-time high in revenue. The company has also signed a distribution agreement with Norman Distribution for its Ooh La Lemin Lemonades in the Chicago area, aiming for further growth as spring and summer months approach.