Business
Namaste Technologies Continues Upward Revenue Trend, Reporting Estimated Q4 Revenue and Fiscal 2020
Namaste Technologies Continues Upward Revenue Trend, Reporting Estimated Q4 Revenue and F...
About this update from Lifeist Wellness Inc
[{"type":"text","content":"\n \n \n \n Namaste Technologies Continues Upward Revenue Trend, Reporting Estimated Q4 Revenue and Fiscal 2020\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Anticipates quarterly gross revenue, including cannabis revenue, of approximately\n \n \n $8.0 million\n \n \n in Q4 2020; a year-over-year increase of\n \n 100%\n \n from\n \n $4.0 million\n \n in Q4 2019 and a quarter-over-quarter increase of\n \n 21%\n \n from\n \n $6.3 million\n \n in Q3 2020\n \n \n Anticipates annual gross revenue, including cannabis revenue, of approximately\n \n \n $27 million\n \n \n in fiscal 2020; a year-over-year increase of\n \n 59%\n \n from\n \n $16 million\n \n in fiscal 2019\n \n \n \n \n \n \n TORONTO\n \n ,\n \n Jan. 13, 2021\n \n /CNW/ -\n \n Namaste Technologies Inc. (\"Namaste\" or the \"Company\")\n \n (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF), a leading platform for cannabis products, accessories, and education, today reported its estimated revenue for the fourth quarter 2020 and fiscal 2020 ended\n \n November 30\n \n , 2020.  Namaste expects to release the Company's audited fourth quarter and annual financial results on or before\n \n March 30, 2021\n \n .\n \n \n \n \n \n \n \n \n \n The Company anticipates that gross revenue for the fourth quarter 2020 will be approximately\n \n $8.0 million\n \n , an increase of approximately 100% over Q4 2019 revenue of\n \n $4.0 million\n \n , thereby expecting to nearly double revenue quarter-over-quarter, and is representing an approximately 21% increase over Q3 2020 revenue of\n \n $6.3 million\n \n .  Namaste is targeting continued revenue growth throughout 2021 as we move to complete the integration of CannMart Labs and bring new and higher-margin products which will be introduced through new brand lines starting with \"Roilty\".\n \n \n \"We are very pleased by the hard work of the team who doubled the revenue growth over the fourth quarter of 2019,\" said\n \n Meni Morim\n \n , CEO of Namaste. \"We believe our preliminary results demonstrate the strength of our business...