Kona Gold Beverage, Inc. Announces Biggest Quarterly Revenue in Company History

Company forecasts $1 million in revenue for Q3

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Jul 07, 2021, 10:11 ET

MELBOURNE, Fla., July 7, 2021 /PRNewswire/ -- 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, is pleased to announce net revenues for Q2 were the biggest in the Company's history for a single quarter in almost 6 years of its existence. 2021 Q2 revenues were approximately $830,000, with an additional $45,000 of open sales orders not yet invoiced. Gross profit for the second quarter revenues were approximately $167,000; and net revenues were split across the Company's subsidiaries: Kona Gold LLC, with approximately $496,000 in revenue, and Gold Leaf Distribution, with approximately $334,000 in revenue.

Kona Gold Beverage has announced it anticipates third quarter revenues to be approximately $1,000,000, building upon its second quarter growth. This would make Q3 the Company's first quarter with revenues over $1,000,000. The Company anticipates approximately $600,000 in revenue to come from its Kona Gold subsidiary, and $400,000 to come from its Gold Leaf Distribution subsidiary in Q3.

"I am excited to share with our stockholders the record setting quarter the Company had in Q2, as we continue to see phenomenal growth across our subsidiaries," stated Robert Clark, CEO of Kona Gold Beverage, Inc. "With such great growth happening within the Company, we have recently hired three additional full-time employees in the past three weeks: two Salesmen for our Gold Leaf Distribution subsidiary, and one Territory Sales Representative for our Kona Gold subsidiary. Our team has set a goal to have the Company's first million-dollar quarter in Q3, and I am confident we will accomplish that."

Kona Gold Beverage recently completed another production run of its rapidly growing Ooh La Lemin brand, as they keep up with high demand from new distributors and retailers, along with fulfilling reorders. The Company will be announcing a new distributor that was recently signed in the coming days for its Kona Gold Hemp Energy Drinks.

For more information regarding Kona Gold Beverage, please visit: https://konagoldbeverage.com/

About Kona Gold Beverage, Inc.

Kona Gold Beverage, Inc., a Delaware corporation, has created wholly-owned subsidiaries, Kona Gold LLC, HighDrate, LLC, and Gold Leaf Distribution, LLC. Kona Gold, LLC has developed a premium Hemp-Infused Energy Drink line; please visit its website at www.konagoldhemp.com. HighDrate, LLC has developed the beverage industry's first CBD-Infused Energy Water, available in 6 delicious flavors; please visit its website at www.highdrateme.com. Gold Leaf Distribution, LLC was created to fill the Company's distribution needs in markets that it wants to enter quickly; please visit its website at www.goldleafdist.com. Kona Gold Beverage, Inc. recently acquired S&S Beverage, Inc., which manufactures and distributes LEMIN Superior Lemonade line; please visit its website at www.drinklemin.com. Kona Gold and its family of companies are located on the east coast of Florida in Melbourne and in Greer, South Carolina.

Safe Harbor Statement:

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. The Company may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Registration Statement on Form S-1. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company does not undertake any obligation to update publicly or to revise any statements in this release, whether as a result of new information, future events, or otherwise.

Investor Relations Contact:
Robert Clark
844-714-2224
[email protected]

SOURCE Kona Gold Beverage, Inc.