Business
Upexi Provides Corporate Update
CLEARWATER, FL / ACCESSWIRE / August 17, 2023 / Upexi Inc. (NASDAQ:UPXI) (the "Company" or "Upexi"), a multi-faceted Amazon and Direct-to-Consumer brand owner
About this update from Upexi, Inc.
[{"type":"text","content":"CLEARWATER, FL / ACCESSWIRE / August 17, 2023 / Upexi Inc. (NASDAQ:UPXI) (the \"Company\" or \"Upexi\"), a multi-faceted Amazon and Direct-to-Consumer brand owner and innovator in aggregation, today is providing shareholders with a corporate update and is increasing previously announced revenue guidance for full year 2023 to exceed $100 million. Management will be providing shareholders with a specific revenue guidance range during its fiscal 2023 financial results conference call in mid to late-September.Upexi CEO Allan Marshall stated, \"We continue to execute and grow our business segments including Vitamedica, Tytan Tiles, and Lucky Tail. Management remains confident in its ability to exceed previously announced 2023 guidance. As the Company's current valuation does not, in managements' opinion, reflect the underlying value of our current assets, management and the Board will explore all options to recognize short- and long-term value for shareholders.\"Mr. Marshall further commented, \"The Company intends to make an investment in the core business segment which includes our White and Private label businesses. We anticipate that the foregoing business segment will increase our overall revenues and contribute to our overall Adjusted EBITDA. We intend to operate and look to grow this segment of the business as we have done successfully in the past, while continuing to seek strategic options for sale and value creation.\"About Upexi, Inc.:Upexi is a multifaceted brand owner with established brands in the health, wellness, pet, beauty and other growing markets. We operate in emerging industries with high growth trends and look to drive organic growth of our current brands. We focus on direct to consumer and Amazon brands that are scalable and have anticipated, high industry growth trends. Our goal is to continue to accumulate consumer data and build out a significant customer database across all industries we sell into. The growth of our current database has been key to the year over year gains in sales and profits. To drive additional growth, we have and will continue to acquire profitable Amazon and eCommerce businesses that can scale quickly and reduce costs through corporate synergies. We utilize our in-house, SaaS programmatic ad technology to help achieve a lower cost per acquisition and accumulate consumer data for increa...