- Gross revenue grew to an all-time high of $1,305,358 in Q3 2021
- Gross profit for Q3 2021 was $781,226 with a gross profit margin of 59.84 per cent
- The company incurred a net loss of $7.74 million versus $3.75 million in 2020, a loss mainly attributed to aggressive marketing
- TAAT markets a tobacco-free and nicotine-free alternative to traditional cigarettes
- TAAT Global Alternatives Inc. (TAAT) opened trading at C$3.46 per share
TAAT™ Global Alternatives (TAAT) has released its financial results for the three months ended July 31, 2021.
TAAT™ Chief Executive Officer Setti Coscarella commented on the results.
“Our growth has accelerated this quarter as we continued to build the popularity of TAAT™ among smokers aged 21+. We have undertaken aggressive strategies to market TAAT™ in this consumer segment in order to sustain and grow interest in the United States by continuing to add stores to expand our sales pipeline. Establishing a reputable and well-known brand comes with the long-term benefit of laying the groundwork to introduce TAAT™ to new global markets.”
Key financial highlights:
- Gross revenue grew to an all-time high of $1,305,358 in Q3 2021, an increase of 1,956 per cent from the same period in the prior year, and an increase of 88.77 per cent from the previous quarter
- Gross profit for Q3 2021 was $781,226 with a gross profit margin of 59.84 per cent, an increase from the gross profit margin of 52.58 per cent in the previous quarter
- TAAT™ Common Shares remained part of the CSE Composite Index and its CSE25 subset of the 25 largest companies by market capitalization
- $10,174,001 in working capital
During the three-month period ended July 31, 2021, the company incurred a net loss of $7.74 million versus $3.75 million in 2020. The increase in net loss was mainly attributable to increased marketing efforts relating to the advertising of its product in sporting events and in Europe offset by a number of non-cash items, including a decrease in share-based payments of $779,000.
TAAT Lifestyle & Wellness Ltd. (TAAT) markets a tobacco-free and nicotine-free alternative to traditional cigarettes available in “Original”, “Smooth”, and “Menthol” varieties.
TAAT Global Alternatives Inc. (TAAT) opened trading at C$3.46 per share.