PowerBand Solutions (TSXV: PBX) this morning released its monthly sales data for its automotive transactional platform. The company reported gross sales across all lines of business of $13.5 million for April.
The April sales figures represents a 17% improvement, or $2.0 million, from the March sales figures of $11.5 million. On an annual basis, total sales on the platform have now reportedly amounted to $39.8 million, which consists of the total dollar value transactions of the various components of the DRIVRZ platform.
In terms of revenue, the company reported that its April gross revenue grew 11% from March’s $1.1 million figure to that of $1.3 million in April. Revenues were reportedly generated with a gross margin of 54%, bringing total revenue to date to approximately $4.0 million.
“We continue to be excited to demonstrate to our shareholders, and potential investors, the potential of our solutions. Our new credit facilities, including those recently announced, coupled with our expanded sales force has enabled us to be able to continue to accelerate the adoption of our DRIVRZ™ solutions.”
Kelly Jennings, PowerBand Solutions CEO
PowerBand Solutions last traded at $1.29 on the TSX Venture.
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