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SinglePoint Inc. Reports First Quarter 2023 Financial Results Revenue Increased to $5.7M, a 268% Increase; Gross Profit Increased by $1.47M to $1.65M
SinglePoint Inc. Reports First Quarter 2023 Financial Results Revenue Increased to $5.7M, a 268% Increase; Gross Profit Increased by $1.47M to $1.65M.
About this update from Singlepoint, Inc.
[{"type":"text","content":"\n\n\n\nSinglePoint Inc. Reports First Quarter 2023 Financial Results Revenue Increased to $5.7M, a 268% Increase; Gross Profit Increased by $1.47M to $1.65M\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.prngen1{\nTEXT-ALIGN: LEFT; MARGIN-LEFT:3.33em !IMPORTANT\n}\n\n\n\n\n\n\nSinglePoint Inc. Reports First Quarter 2023 Financial Results Revenue Increased to $5.7M, a 268% Increase; Gross Profit Increased by $1.47M to $1.65M\nPR Newswire\nPHOENIX, May 16, 2023\n\n\n\n-  FY2023 Q1 Revenue of ~$5.7 Million versus FY2022 Revenue of ~$1.5 Million, Revenue Increase of nearly $4.2 Million\n-  FY2023 Q1 Gross Profit of ~$1.65 Million versus FY2022 Gross Profit of ~$0.182 Million, Gross Profit Increase of nearly $1.47 Million\n-  Growth Driven Primarily by Solar Energy Centric Business Acquisitions\nPHOENIX, May 16, 2023 /PRNewswire/ -- SinglePoint, Inc. (OTCQB: SING) (\"SinglePoint\" or the \"Company\"), a company  focused on providing renewable energy solutions, energy services, energy storage and innovative air purification and safety products, announced financial results for the quarter ended March 31, 2023 which included record revenue for the first quarter of $5.7M versus $1.5M in the year over year comparable period and is reaffirming business outlook for the remainder of FY2023.\n\n \n \n \n \n \n \n\n \nThe increase in our revenue and gross profit are in line with our expectations.  Wil Ralston, CEO of SinglePoint, noted, \"SinglePoint's long-term energy focused acquisition strategy remains unchanged. We will continue to roll up accretive, high quality residential and small commercial solar installation companies within the fragmented solar industry. With proven execution experience, our dedicated team has acquired and grown companies seen as trusted, long-standing partners that deliver lifetime value to customers by either delivering an all-in-one solution or offering the highest-quality product on the market.\" \nRalston added, \"The increase in our revenue and gross profit are in line with our expectations and the senior leadership is focused...