- Total revenue for the quarter ended
June 30, 2022 , was up 1,038% year-over-year, driven by strong demand for TopPop’s, ready-to-freeze (RTF), ready-to-drink (RTD) alcohol ice pops and flexible pouches. - Total revenue for the quarter ended
June 30, 2022 , was over$6.6 million , surpassing revenue of$4.9 million for the entire year of 2021. - Revenue for the six months ended
June 30, 2022 , was$10.7 million vs.$1.2 million for the six months endedJune 30, 2021 , an increase of$9.4 million , or 778%.
Second Quarter 2022 Financial Highlights:
- Total revenue for the quarter ended
June 30, 2022 , was$6,654,221 , an increase of$6,069,307 compared to the same period in 2021, representing an increase of approximately 1,038% year-over-year. - Gross profit was
$1,733,547 for the quarter endedJune 30, 2022 , an increase of approximately 567% year-over-year. - Cash as of
June 30, 2022 , was$4,697,929 , compared to$2,190,814 onDecember 31, 2021 .
Second Quarter and Recent 2022 Highlights:
- Appointment of
Tom Martin as interim Chief Executive Officer.Mr. Martin has been in the primary and secondary packaging industry for over 40 years. He is a co-founder ofTopPop Packaging , which was built by capitalizing on the idea of alcohol-infused adult ice pops and single-use food and beverage products.Mr. Martin has served as President and Chief Operating Officer of TopPop and has been with Iconic since TopPop was acquired inJuly 2021 . - Iconic is considering a name change to “TopPop Innovative Brands, Inc.” and a ticker change to “TPOP” to reflect the Company’s core mission and commitment to sustainable packaging solutions. The majority of the Company’s revenue is currently attributed to TopPop’s packaging business.
- At the end of
March 2022 , TopPop reached full-scale production capability at its newest facility. The facility is expected to produce 80 million units by the end of 2022. - The Company celebrated
Earth Day 2022 by kicking off its “Tree Planting Campaign forEarth Day 2022.” FromApril 22 through May 31 , Iconic collaborated with the international, environmental nonprofit tree-planting charity, One Tree Planted, to plant one tree in theCalifornia areas devastated by the wildfires for each bottle of Bellissima sold through splashwines.com. This was the second year that Iconic has embarked on its sustainability campaign with One Tree Planted, successfully planting 10,000 trees in 2021. - Iconic’s Bellissima Prosecco and Zero wines were featured at the at Lé Lauriér’s debut New York Bridal Fashion Week Runway Show as the event’s exclusive wine sponsor. The event was produced by
Sophisticated Weddings magazine at Capitale inNew York onApril 10, 2022 , and showcased tuxedos and suits by custom menswear clothierAlton Lane .
Management Commentary
“2022 is off to a strong start with record-breaking first and second quarters. Revenue is up 1,038% year-over-year, and we surpassed our full-year 2021 revenue of
Second Quarter 2022 Financial Results
Iconic reported revenue of
The revenue increase is mainly attributed to the integration of TopPop; on an unaudited pro forma basis for the quarter ended
Cost of sales was
Total operating expenses were
Net operating loss was
About Iconic
Please visit Iconic’s websites, and follow us on social media.
Websites: iconicbrandsusa.com; bellissimaprosecco.com; toppoppkg.com; sonjasangria.com
Twitter: @iconicbrandsus; @Sonja_Sangria
Instagram: @IconicBrandsUSA; @BellissimaProsecco; @sonja_sangria
LinkedIn:
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance, and are subject to significant risks and uncertainties. These forward-looking statements should, therefore, be considered in light of various risks, including those set forth in Iconic’s reports that it files from time to time with the
Contact
ir@iconicbrandsusa.com
Source:
2022 GlobeNewswire, Inc., source