GUMMY OF THE DAY IS IT EVOQUA! I JUST LIKE SAYING THE NAME. Or is it.....
Neptune Wellness Solutions secures purchase orders worth $100M
Nov. 17, 2020 5:06 AM ET|About:
Neptune Wellness Solutions... (NEPT)|
Neptune Wellness Solutions (NASDAQ:
NEPT)
soars 12% premarket after its division Neptune Health and Wellness Innovation landed an aggregate of over
$100M in new delivery orders. The purchase orders come from
six different clients.
"We are continuing to vet and add additional products in specific areas which we've identified as having the greatest opportunity for growth and success in the health and wellness space, including in personal protective equipment," a spokesperson for the company said.
Also, the company reported
solid FQ2 results, with a robust top line growth of 340% Y/Y.
On a sequential basis, revenue increased 155%. Year-to-date in fiscal 2021, revenues now totaled C$40M compared to C$10.9M, an increase of 267% from the same period last year. The FQ2 was transitional, and it will continue through FQ3.
The increase is attributable to new health and wellness products such as thermometers and hand sanitizers, and cannabis-related products.
"We remain committed to increasing shareholder value as well as confidence and these Purchase Orders are evidence that our B2B and B2C dual go-to-market strategy to serve consumers at both wholesale and retail levels, is yielding consistent, long-term revenue opportunities," added the spokesperson.
The company has secured a footprint for
Mood Ring of at least 515 retail stores across two Canadian provinces from regulators, with the opportunity to scale to an additional 582 retailers; this provides Mood Ring access to 80% of the Canadian market.
In line with that, Neptune anticipates FQ4 revenue to accelerate at a greater speed than FQ3.
Mood Ring! No. Not that again....