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NxGen Brands, Inc. reports strong Q1 sales and anticipates $1.3m in revenues for 2024 with the success of Mad House Supps Brand. The company's social media advertising strategy has led to month-on-month growth, with the newly released Protein product already sold out.
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-17.65%
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Rhea-AI Summary
NxGen Brands, Inc. announces the product launch date for 'Mad Scoops Anabolic Protein' from its Mad House Supps range, with a forecasted growth in the US protein supplement market. The protein will be fortified with 3 sources of ultra-premium protein and an innovative 'NO-BLOAT' protein absorption ingredient, making it a unique product. It will be available in four flavors, each with real inclusions, setting it apart from other products in the market.
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13.85%
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Rhea-AI Summary
NxGen Brands, Inc. has completed the acquisition of Mad House Innovations, aiming to become a major player in the $381 billion nutritional supplements market. The acquisition is expected to bring in immediate revenues and establish a strong presence in the target market. The company has also announced the release of new products and bullish Q1 sales forecasts for Mad House Supps, with an estimated 105% growth year on year. Additionally, an Australian licensing deal is expected to generate significant royalties for the company throughout 2024 and beyond.
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4.2%
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NxGen Brands, Inc. announces the production and licensing of its Mad House Supps brand in Australia, targeting the fast-growing nutritional supplements market. The Australian Nutritional Supplements Market size was valued at USD 5.04 million in 2023, with an expected CAGR of 10.2% from 2023 to 2030, reaching nearly USD 9.95 million. The 'Tablets' category is anticipated to have 44% of the market, and the Vitamin and Supplement industry in Australia has been growing faster than the overall economy. NxGen also plans to launch a new Protein product in the US, fortified with 3 sources of ultra-premium protein and innovative 'NO-BLOAT' protein absorption ingredient. The potential for topline revenue for these products is between $1.2m and $1.6m in the first twelve months following their release.
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-6.67%
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Rhea-AI Summary
NxGen Brands, Inc. updates its Q1 2024 sales forecasts for its recently acquired brand Mad House Innovations, with a new Protein product set to be released in mid-February. The company expects to achieve topline revenues of $200,000 to $250,000 in the first quarter, with the new Protein product accounting for 15% of the annual revenues, totaling $1.3-$1.6m for the year. Mad House also announced the launch of a new Protein Line, fortified with ultra-premium protein sources and a 'NO-BLOAT' protein absorption ingredient, along with a special 'secret ingredient' to be announced later.
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8.16%
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NxGen Brands, Inc. announces the release of Storm Shrooms and a new protein formulation by its subsidiaries, Storm Lifestyles and Mad House Innovations. Storm Shrooms is a blend of 4 mushrooms that helps with stress management and boosts the immune system. Mad House's new Protein is fortified with 3 sources of ultra-premium protein and a 'NO-BLOAT' protein absorption ingredient. The Company expects to generate between $1.2m and $1.6m in revenue in the first twelve months following the release of these products.
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15.79%
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Rhea-AI Summary
NxGen Brands, Inc. (NXGB) successfully closes its 'Mad House Innovations' acquisition, with explosive growth in 2023 and $1m in revenues. The company expects exponential growth in 2024, with 35% of sales from direct-to-consumer channels and additional revenue from distribution and retail relationships. The recent licensing of products in Australia and New Zealand is expected to generate significant revenues. CEO Joseph Lawanson is confident in the brand's potential for growth through social media advertising and expansion into brick and mortar stores.
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10.34%
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NxGen Brands, Inc. (OTC Pink: NXGB) announces a licensing deal with an Australian nutritional supplements distributor, projecting significant royalties through 2024 and beyond. The Australian nutrition and supplements market has a 2022 value of over $1.6bn with a 2% annual growth rate, outpacing the overall economy. CEO Joseph Lawanson sees potential in the growing market due to aging population and increased fitness awareness.
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2.58%
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NxGen Brands, Inc. (NXGB) announces the launch of new products in its 'Disrupt the Norm™' series targeting the growing global weight loss market. The CEO expects the new series to add over $1.5m to the company's topline in 2024. However, the company has agreed to retire around 14m shares and the new CEO's 40 million shares have restrictions until 2026.
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-5.52%
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NxGen Brands, Inc. (NXGB) announces the addition of a second brand to the LOI, leading to an increased revenue gain from the recent acquisition. Un-audited revenues for 2023 are expected to exceed $1.25m, with a new contract in the Pacific region contributing to a significant rise in non-US revenues. The company estimates a potential 25% increase in revenues with the return of their own-brand protein in Q1. CEO Joseph Lawanson foresees a combined contribution of over $2m to the company's topline in 2024, with the recent acquisition of 'Storm Lifestyle Brands' expected to add a further $1.25m. The company has also completed its first roll-up by acquiring 'Storm Lifestyle Brands' and has agreed to purchase and retire around 14m shares from former officers. However, a further 40 million shares issued to the new CEO are ineligible for restriction removal until 2026.
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Rhea-AI Sentiment
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15.38%
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