Kona Gold Beverage, Inc. KGKG had revenues of over one million dollars in the first quarter of 2022. This marks the company’s first quarter of one million dollars or more. Kona Gold Beverages' two subsidiaries, Kona Gold LLC and Gold Leaf Distribution LLC’s combined revenue broke the one-million-dollar mark in Q1.
Gold Leaf Distribution, the company’s distribution subsidiary, continues to have record month-over-month revenue and March was no exception. March revenue projections for Gold Leaf were $260,000 and the company did approximately $310,000 in revenue, exceeding projections by approximately 19%.
Walmart WMT Rollout:
“Q1 marks a huge milestone for Kona Gold Beverage with over one million dollars in sales and I couldn’t be prouder of our team,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “We did miss our Q1 projections by roughly $60,000, but the sales that were anticipated to post in March, will be posting in April, so we are right on track and where we want to be. In April, we anticipate a big uptick in revenue from our Kona Gold subsidiary’s Ooh La Lemin product lines. We have several current and new distribution partners that will be placing orders in preparation for Walmart rollouts and to begin selling into other retail chains.”
Clark continued, “Our distribution subsidiary, Gold Leaf, continues to beat our estimates and expectations, with over $300,000 in sales in the month of March. Gold Leaf is nearing profitability as its new distribution center in Conway South Carolina quickly ramps up. Gold Leaf has also begun distributing our new Sparkling Ooh La Lemin Lemonades to Walmart retail locations in South Carolina and anticipates an upswing in revenue as Gold Leaf continues to distribute to additional locations.”
The company’s Ooh La Lemin Lemonades are currently sold in popular chains such as Wawa, Plaid Pantry, Piggly Wiggly, Coborn’s, Hyvee, and others.
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