Reviv3 Procare reports FY2023 revenue up 907% to $23.52M; net income of $1.82M vs loss

Axil Brands, Inc.

Net sales $23.52M for FY ended May 31, 2023, up 907% from $2.34M prior year.
Gross profit margin improved to 75.3% from 64.5%; operating expenses as % of revenue fell to 66.9%.
Net income of $1.82M ($0.02 basic EPS) vs net loss of $182,903 prior year.
Acquisition of AXIL in June 2022 drove growth; expanded distribution deals and NASCAR licensing.
Cash balance $4.83M as of May 31, 2023, up from $0.37M prior year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Axil Brands, Inc. reported financial results for the fiscal year ended May 31, 2023.

Period: the fiscal year ended May 31, 2023
Result: reported results

Exact text from the filing

On August 22, 2023, Reviv3 Procare Company (the “Company”) issued a press release announcing its consolidated financial results for the fourth quarter ended May 31, 2023.

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Axil Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001520138-23-000339

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