Kona Gold Beverage Inc Stock Price, News & Analysis

Kona Gold Beverage, Inc. (OTCQB: KGKG) announced a strong Q2 performance, exceeding revenue estimates by $40,000, totaling approximately $790,000. This marks a 248% increase year-over-year and a 71% increase from the previous quarter. The company is on track to meet its 2021 revenue targets of $2.5-$3 million. Their growth strategy includes expanding their workforce from 9 to 14 employees, with plans to hire more. Sales of Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters have surged due to effective sales management.

Kona Gold Beverage, Inc. (OTCQB: KGKG) has announced a new distribution partnership with Wisconsin's Central City Distribution Company to expand the reach of its Kona Gold Hemp Energy drinks. This partnership aims to penetrate key retail locations across Wisconsin, where Central City Distribution Co operates. The company reported record revenues for Q2 2021, with approximately $830,000 and an expectation of $1,000,000 for the third quarter. This partnership and revenue growth indicate a strategic move to enhance market share in the health-focused beverage sector.

Kona Gold Beverage, Inc. (OTCQB: KGKG) reported record Q2 revenues of approximately $830,000, marking the highest quarterly revenue in the company's nearly six-year history. The company has additional open sales orders worth $45,000. Gross profit for the quarter was around $167,000, with revenues split between Kona Gold LLC ($496,000) and Gold Leaf Distribution ($334,000). Looking forward, Q3 revenues are anticipated to reach $1,000,000, which would be a first for the company. CEO Robert Clark expressed optimism about continued growth.

Kona Gold Beverage, Inc. (OTCQB: KGKG) has announced a significant purchase order worth approximately $250,000 for its Ooh La Lemin Lemonade from a new vendor with over 300 stores across 15 states. The company anticipates second-quarter revenues of around $750,000, with a gross profit margin expected at 30%. CEO Robert Clark expressed excitement over the company's growth and the successful closing of long-term deals. However, an anticipated international order for the Kona Gold Hemp Energy Drinks has been delayed due to a COVID-related lockdown.

Kona Gold Beverage (OTCQB: KGKG) has announced Q2 guidance, projecting approximately $750,000 in revenues, with $300,000 from Gold Leaf Distribution and $450,000 from other subsidiaries. The company reported record revenues of over $100,000 in April for both Gold Leaf and Kona Gold. Anticipating a gross profit of $225,000, Kona Gold is also preparing to launch its rebranded Ooh La Lemin in Q2 and is hiring additional staff to support growth. An international order for its Hemp Energy Drinks is expected soon.

On April 16, 2021, Kona Gold Beverage (OTCQB: KGKG) shared an update with shareholders about its progress and 2021 outlook. The company grew its beverage portfolio and uplisted to OTCQB despite challenges from the COVID-19 pandemic. Key achievements in 2020 included raising $1 million and acquiring Lemin Lemonade, enhancing revenue streams. For 2021, Kona Gold projects revenue of $2.5-$3 million and anticipates continued growth, especially from Ooh La Lemin Lemonade and its subsidiary, Gold Leaf Distribution, which aims for over $100K in monthly sales.

Kona Gold Beverage, Inc. (OTCQB: KGKG), based in Melbourne, Florida, reported significant month-over-month revenue growth in Q1 2021, driven by increased demand for its beverage products. March revenues surpassed February, with Kona Gold LLC experiencing over a 22% revenue increase, while Gold Leaf Distribution posted a remarkable 37% growth. March revenues totaled over $140,000 for Kona Gold compared to $115,000 in February. The company expects continued revenue increases in Q2 as it engages with new distribution partners for the busy beverage seasons ahead.

Kona Gold Beverage (OTCQB: KGKG) has received its largest purchase order to date, exceeding $62,000, for its OOH LA Lemin Lemonade brand. This order is from a new vendor with over 800 convenience retail stores across the eastern U.S., serving more than 200 stores in Florida and additional locations in the Southeast. February 2021 marked the company's highest monthly revenue in 15 months, and Kona Gold expects to surpass these figures in March, targeting a record first quarter.

Kona Gold Beverage, Inc. (KGKG) reported its highest monthly revenues in February 2021, surpassing the previous 15 months. Kona Gold LLC generated over $115,000, marking its best performance since November 2019, while Gold Leaf Distribution achieved nearly $60,000 in revenue. The impressive growth is driven by the acquisition of S&S Beverage and increased sales in its product lineup. The company anticipates strong sales momentum continuing through 2021, especially during the busy beverage seasons of spring and summer.