Kona Gold Beverage, Inc. (OTCQB:KGKG), a holding company focused on product development in the better-for-you and hemp and CBD functional beverage sector revealed its second quarter gross revenue is the highest quarterly gross revenue in company history. The company’s subsidiaries combined gross revenue was approximately $1.23 million for the second quarter with subsidiary breakdowns of approximately $955,000 from Gold Leaf Distribution LLC and approximately $275,000 from Kona Gold LLC. Kona Gold Beverage’s 2022 Q2 revenue is an increase of approximately 15% from the previous quarter and an increase of approximately 44% from the same quarter in 2021.
Kona Gold Beverage continues to experience growth across its subsidiaries and has nearly matched all 2021 revenues in the first two quarters of 2022. This growth has been driven by the success of its Gold Leaf Distribution subsidiary and the recent launch of its Sparkling Ooh La Lemin Lemonades. The company is in the process of hiring new talent to assist in facilitating growth in new markets and continue its expansion.
“During a time of such turbulence in our current market, with beverage brands unable to secure production and other brands laying off staff, we continue to grow our brands, expand our market presence, and hire new team members, and I am excited with our company’s direction,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “Our team, across both subsidiaries, continue to perform and meet company goals. We are really excited for what is to come in Q3 and Q4 as we expand into new territories. New personnel will be joining our team and leading those efforts.”
Clark continued, “We anticipated to be rolling out our Ooh La Lemin in June to a national retailer, but that roll out has been delayed until their store sets are completed, which is anticipated to be around the early October time frame. Even with the delay of that rollout, the company posted its biggest quarterly revenue in Q2.”
Photo by Tim Foster on Unsplash
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