- August 2017 sales as reported by the Company were CAD$1,426,755
- Represents the Company’s all-time record in monthly sales.
VANCOUVER, British Columbia, Sept. 07, 2017 — Namaste Technologies Inc. (“Namaste†or the “Companyâ€) (CSE:N)(FRANKFURT:M5BQ)(OTCMKTS:NXTTF) is pleased to announce August 2017 unaudited sales as reported by the Company (including shipping revenues and after discounts and refunds) were CAD$1,426,755 which represents the Company’s all-time record in monthly sales.
The total unaudited sales in August 2017 can be compared to CAD$1,196,971 in July 2017, a 19% increase. The increase in revenues was driven due to a 516% increase in sales through channels (eBay, Amazon) and a 43% increase in wholesale revenues. Namaste Vapes revenues increased by 15%.
The table below displays a revenue breakdown for Namaste’s sales channels:
| Revenues – June 2017 (C$) | |||||||||
| Namaste | 539,546 | ||||||||
| EDIT | 173,645 | ||||||||
| Australian Vaporizers | 416,469 | ||||||||
| Green Vapes | 11,454 | ||||||||
| Distribution Goods | 132,685 | ||||||||
| Dropshipping | 16,981 | ||||||||
| Channels | 135,975 | ||||||||
| Total revenues | Â | Â Â 1,426,755Â | |||||||
The following table details selected data for traffic, conversion rates, order quantities, basket prices and related revenues:
| Selected operating data e-Commerce June 2017 in C$ | Â | Â | |||||||
|  | traffic | conversion | orders |  basket price |  gross revenues | ||||
| Namaste | 136,046 | 2.14 | % | 2,911 | $ | 181 | $ | 526,484 | |
| Australian Vaporizers | 45,476 | 4.49 | % | 2,041 | $ | 210 | $ | 428,898 | |
| EDIT | 258,646 | 0.99 | % | 2,561 | $ | 69 | $ | 175,401 | |
| GreenVapes | 3,587 | 1.37 | % | 49 | $ | 227 | $ | 11,124 | |
| Total | Â Â 443,755Â | 1.70 | % | Â Â 7,562Â | $ | Â Â Â 151Â | $ | Â Â Â 1,141,908 | |
Namaste has seen growth in revenue during what are typically the slowest months of the year for e-commerce businesses. Implementation of various machine learning algorithms on only 4 of its 30 sites has resulted in significant improvement in conversion rates and page values. The machine learning algorithms are used on product landing (category) pages and adjust the content of the page, based on the user’s on-site browsing history, product categories and price points. The landing pages which have the algorithms installed will display differently for every user that visits the site. Namaste has seen an immediate and direct impact on conversion rates resulting from the implementation of these algorithms on select landing pages. Namaste plans to implement the same technology across its entire platform of sites starting September 15, 2017 and with a brand new design.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “We are very pleased to again see record breaking sales in one of the slowest months of the year for e-commerce companies. We are looking forward to full implementation of the machine learning algorithms across our entire platform. We are also very pleased to see strong growth in our marketplace channels (eBay and Amazon) and are looking forward to seeing strong growth going in to the fall and holiday season.â€
About Namaste Technologies Inc.Â
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 Dollingerâ€
Chief Executive Officer
Direct: +1 (786) 389 9771
Email:Â [email protected]
Further information on the Company and its products can be accessed through the links below:
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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