Business
Correction - Jowell Global Ltd. Announces First Quarter 2022 Unaudited Financial Results
-- First Quarter Revenue of $45.1 million, up 59.1% year-over-year -- -- First Quarter GMV of $70.3 million, up 100.3% year-over-year -- Shanghai, China, June
About this update from Jowell Global Ltd.
[{"type":"text","content":"-- First Quarter Revenue of $45.1 million, up 59.1% year-over-year -- -- First Quarter GMV of $70.3 million, up 100.3% year-over-year -- Shanghai, China, June 27, 2022 (GLOBE NEWSWIRE) -- Jowell Global Ltd. (“Jowell” or the “Company”) (NASDAQ: JWEL), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China, announced on May 25, 2022 its unaudited financial results for the first quarter ended March 31, 2022. Please note that these financial results have not been audited or reviewed by the Company’s independent registered public accounting firm and may have discrepancies in connection with further reviews by the independent registered public accounting firm of the Company. The Company has added this precaution language as the second paragraph to the press release, and the corrected press release is as follows: Jowell Global Ltd. Announces First Quarter 2022 Unaudited Financial Results -- First Quarter Revenue of $45.1 million, up 59.1% year-over-year -- -- First Quarter GMV of $70.3 million, up 100.3% year-over-year -- Shanghai, China, May 25, 2022 (GLOBE NEWSWIRE) -- Jowell Global Ltd. (“Jowell” or the “Company”) (NASDAQ: JWEL), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China, today announced its unaudited financial results for the first quarter ended March 31, 2022. The Company cautioned that these financial results have not been audited or reviewed by the Company’s independent registered public accounting firm and may have discrepancies in connection with further reviews by the independent registered public accounting firm of the Company. First Quarter 2022 Financial and Operational Highlights · Total revenues were $45.1 million, an increase of 59.1% from $28.4 million in the same quarter of 2021. · Net loss was $3.6 million, an increase of 631.2% compared to a net loss of $0.5 million in the same quarter of 2021. · Total GMV (Gross Merchandise Value) transacted in our online shopping mall was $70.3 million, an increase of 100.3% from $35.1 million in the same period of 2021. · Total VIP members1 as of March 31, 2022 were approximately 2.3 million, an increase of 15.8% compared to approximately 2.0 million as of March 31, 2021. · Total LHH stores2 as of March 31, 2022 were 26,135, an increase of 3...