Business
Farmmi Reports Record Company Revenue and Gross Profit for Fiscal Year 2021
39% Increase in Revenue in Fiscal Year 2021 Compared to Fiscal Year 2020 10% Expansion in Gross Profit Fiscal Year 2021 Compared to Fiscal Year 2020 188%
About this update from Farmmi, Inc. Ordinary Shares
[{"type":"text","content":"\n 39% Increase in Revenue in Fiscal Year 2021 Compared to Fiscal Year 2020 10% Expansion in Gross Profit Fiscal Year 2021 Compared to Fiscal Year 2020 188% Increase in Net Income in Fiscal Year 2021 Compared to Fiscal Year 2020 $159.9 Million in Total Stockholders' Equity at September 30, 2021 Compared to $28.3 Million at September 20, 2020 LISHUI, China, Jan. 26, 2022 /PRNewswire/ -- Farmmi, Inc. (\"Farmmi\" or the \"Company\") (NASDAQ: FAMI), an agriculture products supplier in China, today announced its financial results for the twelve months ended September 30, 2021.\n\n \n \n \n \n \n \n\n \nMs. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, \"We achieved record Company revenue and gross profit for the fiscal year 2021, reflecting momentum in our business, and our success at both securing inventory and delivering it to customers on time, despite the global supply chain disruptions. We drove significant improvements in our financial results, while also launching a diversification initiative that will be key to our longer term success. We are benefitting from a higher order volume and expanded relationships because we have been able to secure the quality agricultural products customers want at scale, helped by our end-to-end supply chain. We expect this business momentum will continue into the New Year, which will help us further grow our sales.\"\nMs. Yefang Zhang, Farmmi's Chairwoman and CEO, added, \"We unveiled our ambitious diversification and growth strategy in September 2021, which was designed to deliver greater opportunities for revenue and profit growth, as we work to build on the strong platform and demand we are continuing to benefit from in the edible fungi market worldwide. Importantly, our stronger balance sheet gives larger domestic and international customers added confidence in Farmmi as a partner and allows us to accelerate investments in our organic business, while also pursuing strategic M&A opportunities.\" \nLooking forward, Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, concluded, \"We are focused on creating greater value for Farmmi and all shareholders, and plan to be aggressive. We do not think our current stock price accurately reflects our revenue, cash position, improved financial performance, or the Company's attractive prospects for accelerated growth. We are working to close the gap be...