Kolaboration Ventures Announces Record Q1 2023 & 420 Performance
Kolaboration Ventures delivers on verticalization, and demonstrates that KVC's focus and approach is winning customers and the market. 24% EBITDA combined with a 66% Gross Margin for Q1 2023 is a clear indicator that KVC's approach is the right one in highly competitive cannabis markets.
RIO VISTA, Calif., May 15, 2023 (Newswire.com) - Kolaboration Ventures has been marching to the vertical integration drum for 18 months, and the benefits and performance clearly validate the vision the Directors laid out in 2021.
KVC has achieved scale, efficiences, and breadth in its product portfolio that will enable a "steady state" minimum 20% EBITDA month in and month out for the balance of 2023.
KVC's EBITDA and GM numbers continued significant improvement over the past 12 months. The table below demonstrates sustained and considerable improvement.
| March '23 | Q1 '23 | TTM | |
| Revenue | $4,411,335 | $12,412,845 | $47,801,431 |
| Gross Margin | $3,297,801 | $8,189,279 | $26,977,549 |
| GM % | 74.8% | 66.0% | 56.4% |
| Operating Expense | $2,039,100 | $5,782,181 | $23,986,183 |
| Operating Income | $1,258,701 | $2,407,098 | $2,991,365 |
| Net Profit | $1,094,307 | $1,739,149 | ($1,165,681) |
| EBITDA | $1,448,140 | $2,962,767 | $5,532,289 |
| EBITDA % | 32.8% | 23.9% | 11.6% |
*Reviewed, but not audited numbers.
April 20, 2023 / 420 Update:
The KVC Retail Platform EnjoyTheFarm.com performed amazingly during the run-up to 420 and shattered all critical numbers year over year. We believe that this is the litmus test to demonstrate that our customer service and approach to selection is winning the market.
| 420 YoY Improvement | |
| Customer Transactions | Up 57% |
| Gross Collections | Up 33% |
| # of Storefronts Beating 2022 420 Revenue | All Storefronts |
| New/First-Time Customers | Up 34% |
| Average Cart Size | Down 12% |
"We believe our formula to competitive cannabis markets will enable KVC to continue to expand and win up and down the State at scale, and when appropriate, take our platform with all the products, brands and infrastructure to dominate smaller cannabis markets like Florida, New York and Illinois," said Martin Wesley, CEO of Kolaboration Ventures Corporation.
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About Kolaboration Ventures Corporation
Kolaboration Ventures Corporation (KVC) is one of the largest vertically integrated cannabis operators in the largest cannabis market in the country: California. KVC strives to become the most important company in the California cannabis landscape by combining its strategic cultivation footprint with its leading retail, manufacturing, and distribution platform. Employing a consumer-packaged-goods ("CPG") approach to cannabis, KVC's house of brands and products is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted California brands, including CoCo Farms, Pacific Reserve, Farms Brand, Rio Vista Farms, Canna-Lean, Don Primo, and Ole'4 Fingers.
To learn more, please visit: KolaborationVentures.com.
Media Contact: Press@KolaborationVentures.com
Investor Contact: IR@KolaborationVentures.com
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of KVC to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. KVC undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in its expectations.
Source: Kolaboration Ventures Corporation
