Element Nutritional Sciences to Report Record Revenue Q1 2022 (CSE:ELMT; OTC:ELNSF; FRANK:93X)
Channel: RICH TV LIVE
Date: 16/05/2022

Element Nutritional Sciences to Report Record Revenue Q1 2022 (CSE:ELMT; OTC:ELNSF; FRANK:93X) - RICH TV LIVE - May 16, 2022 - #elementnutrition #news #richtvlive #trading #stocks #elmt #elnsf #business #stocks #trading #money #investing #richtv #revenue

Element Nutritional Sciences to Report Record Revenue in Q1 2022

Element expected to report revenue between $2.0 million and $2.3 million, with a gross margin between 35% and 40%, or 521% growth at the mid-point of the range
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Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF; FRANKFURT:93X) (the “Company” or “Element”), is pleased to provide an update highlighting preliminary financial results for the first quarter ended March 31, 2022 (“Q1 2022”) and recent operational milestones. All amounts are expressed in Canadian dollars.

Stuart Lowther, Chief Executive Officer , commented, “We expect Q1 2022 to be a milestone quarter for Element. We look forward to reporting record revenue, with a year-over-year growth rate of 521%, which is attributable to our significantly expanded distribution footprint. We have also recently secured listings with recognized retailers including Publix and Sam’s Club. Furthermore, we announced the international recognition of our licensed patent, a first in the muscle health industry, for a product that increases muscle protein synthesis, giving our products a distinct competitive edge. We believe that with these foundations in place, Element is well positioned for continued growth in the North American market, to execute on its innovate pipeline and make strategic strides in to new and large consumer markets such as sports nutrition, orthopaedics, immune health and oncology.”

Preliminary Financial Results for Q1 2022

For the first quarter ended March 31, 2022, the Company is expected to earn between $2.0 million and $2.3 million in revenue, a 521% increase at the mid-point of the range, as compared to $346,000 for the first quarter of 2020. The Company expects a gross margin for this period between 35% and 40%. The increase in revenue is attributable to the Company reaching over 16,000 points of distribution in the period across North America, with growth particularly in the U.S. retail pharmacy and e-commerce channels.

The Company’s complete financial results are expected to be reported in May 2022.

Distribution and Innovation Update

Entering the U.S. Grocery Channel through Publix Super Markets Inc. (“Publix”)

Element continues to expand its distribution footprint, establishing a firm base within the U.S. retail grocery segment. The Company is pleased to announce that Rejuvenate™ is now on shelves at 1,295 Publix grocery stores. Publix is the third largest grocery retailer in the U.S.

With Rejuvenate™ already available at the two largest pharmacies in the U.S., CVS and Walgreens, and recently listing with Sam’s Club, the grocery channel is a natural extension of the Company’s retail distribution strategy.

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