VANCOUVER, BC / ACCESSWIRE / December 11, 2021 / Blender Bites Ltd. (the "Company", "Blender Bites" or "Blender"), (CSE:BITE)(FWB:JL4)(WKN:A3C3Y2), a Canadian company involved in the development and marketing of a line of premium, organic and plant-based pre-portioned frozen functional foods, announces a record increase in revenue over the previous three months.
Blender Bites was the first company to produce a pre-portioned smoothie puck in the Canadian market and its certified organic, non-GMO, plant-based convenient smoothie pucks are currently available in over 800 retail stores across Canada. Over the previous 3 months, the Company saw a historic revenue increase which can be attributed to significantly expanding its distribution channels to a number of Canadian Club stores, as well as Loblaw's, Canada's largest grocery store chain.
The Company is pleased to announce that over the last three months, September to November 2021, combined revenue was $743,000 with related expenses for the same period of $586,000. This is a significant 2,266% increase in revenue over the same September to November period in 2020, which generated $32,800 in revenue with related expenses for the same period of $20,020.
The September to November 2021 revenue also represents a 404% increase over the previous 3 months, June to August 2021. This increase in revenue illustrates that the Company is witnessing the rapid growth cycle the Company is on.
These historic revenue numbers are a direct result of the Company's ability to capitalize on consumer trends, and capture market share in the functional beverage market. As more consumers choose healthy alternatives, instead of juice or other sugary products, Blender Bites is focused on expanding its brand awareness and marketing efforts to target these consumers. The introduction of additional distribution locations through the launch at Club Stores as well as nationwide at Canada's largest grocery chain, Loblaws, have improved the Company's reach to consumers, fueling growth.
"Blender Bites has shown exponential growth with its record revenue for September, October and November of 2021. We have started to implement our Canadian expansion plans and are seeing the early stage results of our hard work. We believe that Blender Bites will continue to see further rapid growth in Canada as our strategy rolls out to the market. We have also just launched our US expansion, representing our largest potential for growth, as it targets an audience ten times the size of the Canadian one." stated Chelsie Hodge, the Company's CEO.
The Company cautions that the above figures for revenue have not been audited and are based upon calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited.
About Blender Bites
Blender Bites is a Canadian company involved in the development and marketing of a line of premium frozen food products with a focus on functionality. Blender Bites was founded in 2016 and was first to market in Western Canada with a pre-portioned "easy smoothie" product that is free of any unnecessary inner plastic packaging. Blender Bites products are certified organic, vegan, non-GMO, gluten free, dairy free and soy free. They contain no added sugars and are made in Canada. Blender Bites products are distributed internationally across Canada and the US, and are currently sold in over 900 stores, including Sobeys, Safeway, Save on Foods, Whole Foods Market, Buy-Low/Nesters, IGA and Fresh Street.
On behalf of the Board of Directors,
Blender Bites Limited
Chelsie Hodge, Chief Executive Officer
For further information, contact Blender IR Team at:
Email - [email protected]
Telephone - 1-888-997-2055
CAUTIONARY DISCLAIMER STATEMENT
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties, and uncertain capital markets. Readers are cautioned that actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Blender Bites Limited