Kona Gold Beverage Inc (OTCMKTS: KGKG), focused on product development in the hemp and CBD functional beverage sector, announced 2Q2021 financial results with the highest quarterly revenue of approximately $830,000. The revenue split was $496,000 and $334,000 in revenue across Kona’s subsidiaries Kona Gold LLC and Gold Leaf Distribution. In addition, $45,000 of open sales orders were not yet invoiced. The gross profit for 2Q2021 was approximately $167,000. The company had reported 1Q2021 revenue of $462,410 and a net loss of $1.82 million.

Kona recently completed another production run for the Ooh La Lemin brand to keep up with fulfilling reorders and high demand from new distributors and retailers. The company also signed a new distributor for its Kona Gold Hemp Energy Drinks. Backed by the recent growth, the company is anticipating 3Q2021 revenue to be $1 million, with Kona Gold LLC contributing $0.6 million and Gold Leaf Distribution contributing $0.4 million in revenues. If 3Q2021 revenues remain in line with these estimates, it will make Kona’s first quarter with a million dollars in revenues.

Management commentary and executive leadership

Robert Clark, Chief Executive Officer of Kona, mentioned that the record-setting quarter in the company’s six years of history resulted from phenomenal growth across its subsidiaries. The company also hired three full-time employees to keep up with the recent growth, including a Territory Sales Representative and two Salesmen. The company is looking forward to accomplishing its ambitious goal of the first million-dollar quarter in 3Q2021. Kona’s executive leadership also includes Lori Radcliffe as its Chief Financial Officer, Christopher Selinger as Vice President of Sales, and Bill Stineman as Vice President of Product Management and Innovation. 

Kona’s product portfolio across subsidiaries

Kona, through its subsidiaries, offers a premium Hemp-Infused Energy Drink line and CBD-Infused Energy Water – the first in the beverage industry available in 6 delicious flavors. The company operates on the east coast of Florida in Melbourne and Greer, South Carolina. In addition, Kona recently acquired S&S Beverage, Inc., which brings the addition of the LEMIN Superior Lemonade line to its exciting beverage product portfolio.