Business
GenTech’s ’20-’21 Annual’s Reflect Tremendous 300% Growth on a YOY Basis with TTM Rising to $1.3m
GenTech’s ’20-’21 Annual’s Reflect Tremendous 300% Growth on a YOY Basis with TTM Rising to $1.3m.
About this update from Gentech Holdings Inc.
[{"type":"text","content":"\n Wheat Ridge, COLORADO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- GenTech Holdings, Inc. (OTC Pink: GTEH) (“GenTech” or the “Company”), (a/k/a Supplement Group (USA) Inc.) (www.gentechholdings.com) an emerging leader in the Functional Food (www.sinfit.com) and Nutritional Supplement (www.americanmetabolix.com) marketplaces, shows extremely impressive annual financial year-over-year growth from $250k to $900k. The Trailing Twelve Months(TTM) revenues also rises to an impressive $1.3m+ which is an incredible growth curve from companies in their first full calendar year of operations. The growth curve the company is embarking on is also showing no signs of remotely slowing down and it is now running at an annualized revenue rate of more than $2.5m. With GenTech’s new brands Storm® and Fizzique® coming on stream already, the revenue estimates previously disseminated remain fully on track. The American Metabolix, Inc., acquisition was a September 1st closing and accounted for $400k in its first four full months of operations at GenTech, translating to at least a $1.2m revenue brand on its own in the future, not even accounting for the growth that the brand is now seeing. The Company also previously announced that Nature Soothie had sold out each production run to Sprouts® and Whole Foods® to date and SINFIT Nutrition’s plant-based bars are also factors that have led to a growth curve year with significantly stronger revenues weighted towards the end of the year. David Lovatt, CEO of GenTech Holdings commented, “These figures continue to show exceptional growth relative to our 2020 revenues. To be able to close out the Oct. ‘20 to Oct. ‘21 year-end figures at around $900,000 against previous year’s figures which were in the $200s, shows very exciting growth. When you add in the trailing twelve months figures to the equation, that’s when you really see the growth that is happening in real time, as that figure comes out in excess of $1.3m for calendar year 2021. Lovatt continued “With the latest revenue figures calculated and as we continue to extrapolate forward, it is looking like $3.5 million in 2022 is a feasible and realistic goal. However, we anticipate a much more aggressive growth curve than that, based on the addition of Fizzique and Storm to ...