Agoracom Blog

Namaste Announces July Sales of C$1.19M Representing 298% Year-on-Year Increase $N.ca

Posted by AGORACOM-JC at 8:10 AM on Tuesday, August 15th, 2017

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  • July 2017 unaudited sales as reported by the Company were CAD$1,196,971
  • 298% increase in July year-on-year sales

VANCOUVER, B.C., Aug. 15, 2017 — Namaste Technologies Inc. (“Namaste” or the “Company”) (CSE:N) (FRANKFURT:M5BQ) (OTCMKTS:NXTTF) is pleased to announce July 2017 unaudited sales as reported by the Company (including shipping revenues and after discounts and refunds) were CAD$1,196,971 compared to CAD$300,773 in July 2016, representing a 298% increase in July year-on-year sales.

The table below displays a revenue breakdown for Namaste’s various sales channels. These figures represent a 298% monthly year-on-year increase in revenue. Reported revenues declined by 11% in July 2017 when compared with June 2017. This is expected as the summer period is typically soft. Analysis of the larger sites shows a 1% decline in July 2017 when compared with June 2017. Sales increased 20.7% year on year in July on an organic basis in constant currency.

Revenues – July 2017 (CAD$)
Namaste  469,009
EDIT  176,899
Australian Vaporizers  409,928
Green Vapes  11,363
Distribution Goods  92,586
Dropshipping  15,108
Channels  22,078
Total revenues      1,196,971

The table below outlines gross sales of the major sites operated by the Company. Revenues below do not include shipping revenues and are before discounts and refunds.

Selected operating data e-Commerce July 2017 in CAD$      
  traffic conversion         orders      basket price     gross revenues
Namaste  103,918 1.91%  1,985  $241  $478,786
Australian Vaporizers  47,903 3.92%  1,876  $212 $ 398,629
EDIT  260,459 0.86%  2,244  $89  $200,659
GreenVapes  3,183 1.60%  51  $205  $10,462
Total  415,463 1.48%  6,156  $177  $1,088,536

The conversion ratio of Namaste Vapes was 1.91% in July 2017. This compares with 1.96% in June 2017 and 1.76% in July 2016. Traffic consisted of 103,918 visitors in July 2017, representing a significant increase in comparison with 43,350 visitors in July 2016 and 94,139 visitors in June 2017.

The conversion ratio of EveryoneDoesit was 0.86% in July 2017. This compares with 0.87% in June 2017 and 1.05% in July 2016. Traffic consisted of 260,459 visitors in July 2017 repersenting an 11% decline in comparison with 292,423 visitors in July 2016 and a 5% increase in comparison with 247,717 visitors in June 2017. The EveryoneDoesit site was moved from Magento to the Shopify platform in the first quarter of 2017 which caused a slowdown in traffic. The trend shows that the lowest point in traffic was passed in April 2017 and the migration to Shopify has started to show results, hence the month on month increase.

The conversion ratio of Australian Vaporizers was 3.92% in July 2017. This compares with 4.50% in June 2017 and 4.52% in July 2016. Traffic consisted of 47,903 visitors in July 2017, a substantial increase in comparison with 33,420 visitors in July 2016 and 45,040 visitors in June 2017. We believe that the decline in conversion ratio is temporary as Australian Vaporizers moved to the Shopify platform last month. The transition to another platform typically disrupts traffic.

Issued and Outstanding Shares of the Company

During the month of July 2017, the issued and outstanding share amount increased by 822,667 common shares of the Company, resulting from the exercise of warrants.

Management Commentary

Sean Dollinger, President and CEO of Namaste comments: “We are very pleased to see this amazing year-on-year growth with Namaste showing such strong sales for the month of July which is typically one of the slowest months of the year. Our efforts in implementing machine learning technology and enhancements on our platform are very exciting. We expect to see continued growth going forward into the fall and holiday season.”

About Namaste Technologies Inc.

Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.

On behalf of the Board of Directors

“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389 9771
Email: info@namastevapes.com

Further information on the Company and its products can be accessed through the links below:

www.namastetechnologies.com

www.namastevaporizers.com

www.namastevaporizers.co.uk

www.vaporseller.com

www.everyonedoesit.com

www.everyonedoesit.co.uk

FORWARD LOOKING INFORMATION This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, Namaste assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E 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. The CSE has neither reviewed nor approved the contents of this press release.

 

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