Upexi Inc Stock Price, News & Analysis

Upexi Inc. (NASDAQ: UPXI) announced the expansion of its children's toy brand, Tytan Tiles, into 2,000 Walmart stores starting January 2023. Tytan has experienced significant growth, doubling sales in two years, and is recognized for its eco-conscious, educational STEM toys. Currently a bestseller at Sam's Club and Walmart.com, Tytan will feature in Walmart's 2022 Cyber Monday promotions, aligning with Walmart's STEM initiatives. Upexi's CEO highlighted this rollout as pivotal for Tytan's branding and sales potential.

Upexi, Inc. (NASDAQ: UPXI) reported a strong fiscal 2023 first quarter, achieving revenues of $11.6 million, a 199% increase year-over-year, and a gross profit of $6 million with a gross margin of 52%. However, the company faced a net loss of $2.7 million, contrasting with net income of $512,000 in the prior year. Key growth drivers included acquisitions, notably the entry into the pet market through LuckyTail. Upexi's cash reserves stood at $3.3 million, with projections of $100 million in sales for calendar 2023.

Upexi Inc. (NASDAQ: UPXI) announced the payoff of its $15 million senior secured debt, which is expected to save approximately $900,000 in annual interest expenses. This decision provides the company with increased flexibility for future financing and potentially better terms with commercial lenders. The sale of CBD assets has also contributed to reducing overall expenses. CEO Allan Marshall emphasized the goal of maximizing profits through efficiency and strategic growth.

Upexi Inc. (NASDAQ: UPXI) has completed its acquisition of E-Core, Inc., including subsidiaries Tytan Products and New England Technology. This acquisition, valued with cash, stock, and notes, grants Upexi entry into the toy market and expands its national distribution network. E-Core generated over $40 million in trailing twelve-month sales, including the rapidly growing Tytan brand, which has seen 100% growth in the past two years. Upexi aims for 40-50% organic growth and anticipates boosting its sales projections to $100 million for 2023.

Upexi Inc. (NASDAQ: UPXI) will host a conference call on November 14, 2022, at 4:30 p.m. ET, to discuss its fiscal 2023 first quarter financial results and provide a business update. Interested parties can access the call via a live dial-in or webcast. A replay will be available until November 28, 2022. Upexi is known for its focus on Amazon and direct-to-consumer brands across various industries such as health and wellness, aiming for organic growth and strategic acquisitions to enhance profitability.

Upexi Inc. (NASDAQ: UPXI) announced a strategic sale of select CBD assets to Bloomios, Inc. (OTC: BLMS) for approximately $23.5 million. This transaction enhances Upexi's focus on its Amazon and DTC eCommerce strategy while strengthening its balance sheet. The sale yields $5.5 million in cash, $9.5 million in loan receivables, and $8.5 million in preferred equity in Bloomios. Upexi reiterates its fiscal 2023 revenue guidance between $72 million to $82 million.

Upexi Inc. (NASDAQ: UPXI) announced the filing of a patent for its innovative single click-to-optin technology through its SaaS Ad Tech Division, Interactive Offers. This technology aims to change the lead acquisition landscape by allowing advertisers to bid on verified leads rather than paying per click or impression. The technology has already contributed to revenue growth and has attracted partnerships with major publishers. Additionally, the company reported rising advertising costs affecting the digital marketing sector, with significant CPM increases across platforms like Instagram and Facebook.

Upexi, Inc. (NASDAQ: UPXI) reported a successful fiscal year 2022 with revenue of $44.6 million, reflecting an 85% increase year-over-year. Pro forma revenue reached $68 million. Gross profit surged 112% to $25.2 million, improving the gross profit margin to 56%. Despite this growth, the company faced a net loss of $2.1 million, a decline from last year's net income of $2.9 million, primarily due to non-cash expenses. Looking ahead, management projects fiscal year 2023 revenue between $72 million and $82 million.

On August 17, 2022, Grove Inc. officially rebranded as Upexi, Inc. and changed its Nasdaq ticker symbol from GRVI to UPXI. This name change reflects the company's strategy to enhance its portfolio through the acquisition of profitable eCommerce brands across various industries. CEO Allan Marshall emphasized that this change signifies progress and a commitment to growth, with no impacts on shareholder actions or the company's business objectives.