The results are in for January, and Vejii Holdings (CSE: VEJI) appears to be growing at a quick clip. The firm this morning announced its monthly unaudited consolidated revenue figures, which demonstrate significant growth on a year over year basis.
The company reported revenues of $513,000 for the month of January, or 1,158% growth over the same period last year. The growth is largely a result of commercial sales beginning in November, as well as the recent strategic acquisitions of Veg Essentials and VEDGEco USA.
Gross profit for the period meanwhile was reported at $189,000, pointing to margins of 37% on a gross basis. The month of January is said to represent the highest revenue month for the company to date.
“We believe the continued revenue growth shows the synergies of our M&A strategy and the growth of our organic business. Vejii’s platform offers brands the ability to go direct-to-consumer at a time when speed to market is key for brands, using Vejii Fulfillment Services. We allow brands to list on our marketplace, with Vejii providing pick, pack, and shipping directly to consumers,” commented Darren Gill, COO of the company.
While the growth is significant for the company, the guidance released by Vejii in late January points to substantial further growth. The firm has guided to revenue of between $10 million and $12 million, indicating that it expects revenue to more than double on a monthly basis by the end of the year.
Vejii Holdings last traded at $0.10 on the CSE.
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