Business
EMERGE Achieves Record GMS of $10M in November 2021, Exceeding Entire Reported GMS from Q3 2021, CEO to Provide Webcast Update on December 14
EMERGE Achieves Record GMS of $10M in November 2021, Exceeding Entire Reported GMS from Q...
About this update from Emerge Commerce Ltd
[{"type":"text","content":"\n \n \n \n EMERGE Achieves Record GMS of $10M in November 2021, Exceeding Entire Reported GMS from Q3 2021, CEO to Provide Webcast Update on December 14\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP-COLOR:; VERTICAL-ALIGN: TOP; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; PADDING-LEFT:0.50em; BORDER-RIGHT-COLOR:; PADDING-RIGHT:0.50em\n}\n.prnbcc{\nBORDER-TOP-COLOR:; BORDER-COLLAPSE: COLLAPSE; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; BORDER-RIGHT-COLOR:\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Dec. 8, 2021\n \n /CNW/ -\n \n \n EMERGE Commerce Ltd\n \n \n . (TSXV:\n \n ECOM\n \n ) (\"EMERGE\" or the \"Company\"), a leading acquirer and operator of niche e-commerce brands, is pleased to provide the following corporate update based on preliminary results:\n \n \n \n \n \n \n \n \n \n \n EMERGE achieved record Gross Merchandise Sales\n \n (1)\n \n (\"GMS\") of approximately\n \n $10\n \n million (unaudited), a 236% increase compared to November 2020\n \n \n GMS\n \n (1)\n \n for the month of\n \n November 2021\n \n exceeded the Company's reported GMS\n \n (1)\n \n for the full quarter in Q3 2021\n \n \n WholesalePet.com, EMERGE's most recent acquisition, saw double-digit organic growth year over year, strong profitability, and positive cash flow during November 2021\n \n \n Based on results to date, the Company anticipates Q4 2021 to be its largest quarter yet in terms of GMS\n \n (1)\n \n , Revenue and Adjusted EBITDA\n \n (1)\n \n \n \n \n EMERGE CEO and CFO to host year-end virtual webcast on Tuesday, December 14, at 11:00am ET (REGISTER BELOW)\n \n \n \n \n \"In November, we saw a glimpse of the power of the combined portfolio at our new collective scale, as GMS this past month exceeded our entire reported GMS from Q3 2021, and we recorded our first\n \n $1M\n \n GMS day on Cyber Monday,\" commented\n \n \n Ghassan Halazon\n \n , the Company's Founder and CEO\n \n .\n \n \n WholesalePet.com, EMERGE's most recent acquisition, and its first B2B marketplace platform, is achieving double-dig...