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Menē Inc. sells pure 24 karat gold and platinum jewelry through an online brand model that prices pieces transparently by gram weight. Company news centers on IFRS financial results, non-IFRS adjusted revenue measures, order volume, average order value, customer acquisition, product-design introductions, and the effect of precious-metal prices on reported sales.
Updates also cover Menē's operating model, including distribution costs, inventory management, promotions, digital marketing, customer service, made-to-order product collaborations, and governance changes such as finance leadership appointments.
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Menē Inc. (TSX-V:MENE) announced its Q3 2022 financial results, reporting IFRS Revenue of $5.0 million (down 5% YoY) and Non-IFRS Adjusted Revenue of $6.7 million (up 4% YoY). The Gross Profit stood at $1.1 million with a 22% margin. Significant metrics included an increase in Total Comprehensive Income by 85% YoY to $1 million and a robust customer order wait list valued at $4.4 million. The company also expanded its inventory by 43% QoQ. CEO Roy Sebag expressed optimism despite anticipated recessionary pressures.
Menē Inc. (TSX-V:MENE) (US:MENEF) reported its financial results for Q2 2022, showcasing a 2% YoY revenue increase to $5.9 million. The company achieved a net income of $0.1 million, a 136% rise, along with a $1.5 million gross profit at a steady 26% margin. Operating cash flow reached $1.9 million, with tangible common equity at $16.4 million. With a robust customer order waitlist of $4.2 million as of June 30, Menē remains optimistic for future growth, having acquired a strategic manufacturing facility in the US.
Menē Inc. (TSX-V:MENE) (US:MENEF) reported Q1 2022 results with record operating income of $0.3 million, up 44% YoY. IFRS revenue was $7.3 million, a 2% increase, while Non-IFRS adjusted revenue reached $9.3 million, rising 12% YoY. Gross profit also climbed to $2 million (12% increase) with a gross margin of 27%. The company generated $4.3 million in free cash flow and recorded a strong cash position of $11.6 million. However, a net loss of $0.3 million was reported, stemming from a market-to-market revaluation of a precious metal loan.
Menē Inc. (US:MENEF) reported record financial results for Q4 and FY 2021, achieving IFRS revenue of $8.5 million in Q4, a 20% increase YoY, and an annual IFRS revenue of $26.8 million, a 27% increase YoY. Gross profit for Q4 was $2 million, up 19% YoY, while total comprehensive income reached $0.4 million. The company also generated free cash flow of $3.8 million in Q4. Future growth plans include acquiring a US production facility and establishing a European distribution center to enhance market presence.