- Koios (FIT) recorded revenue growth of 278 per cent from Q2 2021 to Q3 2022
- Gross margin stood at 55.32 per cent, up from -82.29 per cent in Q2 2021
- The company believes Q3 figures foreshadow strong performance in the quarters ahead
- Koios is a functional beverage and supplement company
- Koios (FIT) is unchanged trading at $0.15 per share
Koios (FIT) recorded revenue growth of 278 per cent from Q2 2021 to Q3 2022.
The quarter, ended on February 28, 2022, is highlighted by considerable expansion of the company’s retail and distribution footprint.
Unaudited Q3 figures include:
- Cash on hand of US$2,038,838, up 678.92 per cent from Q2 2021 cash holdings of $300,304
- Total liabilities of $2,164,582, up 137.2 per cent from Q2 2022 liabilities of $1,577,715
- Cost of sales decreased by 29.5 per cent to $333,435 from $473,194 in Q2 2021
- Revenue was up 287.48 per cent from $259,588 in Q2 2021 to $746,264 in Q3 2022
- Gross margin stood at 55.32 per cent, up from -82.29 per cent in Q2 2021
- From Q2 2021 to Q2 2022, the company reduced office expenses by 69.78 per cent, freight and shipping fees by 19.82 per cent and rent by 2.79 per cent
The company believes its Q3 performance is indicative of strong quarters ahead.
Koios is a functional beverage and supplement company with a distribution network of more than 4,400 U.S. retail locations.
Koios (FIT) is unchanged trading at $0.15 per share as of 10:32 am EST.