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Namaste Reports September Sales of C$1.2m Representing a 132% Year-Over-Year Increase - Mushroomstocks | Mushroomstocks
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Namaste Reports September Sales of C$1.2m Representing a 132% Year-Over-Year Increase

Oct 10, 2017 • 11:06 AM EDT
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1 MIN READ  •  By Michael Berger
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Namaste Technologies Inc. (CSE:N) (OTCMKTS:NXTTF) is pleased to announce September 2017 unaudited sales as reported by the Company (including shipping revenues and after discounts and refunds) were C$1,198,765, representing a 132% year-on-year growth in sales.

The table below displays a breakdown of Namaste’s revenue by sales channel.

Revenues – September 2017 (C$)                      
Namaste                     475,053  
EDIT                     170,582  
Australian Vaporizers                     431,108  
Green Vapes                     12,095  
Distribution Goods                     148,623  
Dropshipping                     12,095  
Channels                     46,192  
Total revenues                      1,295,748  

The table below outlines gross sales of Namaste’s major sites and includes site traffic, conversion rates, total number of orders per site and average online basket price.

Selected operating data e-Commerce September 2017 in C$
      traffic     conversion     orders     basket price      gross 
Namaste     109,409     2.29%     2,505             $ 207     $ 518,138  
Australian Vaporizers     40,705     5.30%     2,158             $ 219     $ 473,606  
EDIT     209,822     1.30%     2,736             $ 70     $ 192,418  
GreenVapes     3,685     1.74%     64             $ 228     $ 14,603  
Total      363,621     2.05%      7,463             $ 161     $ 1,198,765  

Namaste continues to produce strong revenue during a typically slow period for e-commerce sales. Through implementation of new site platforms and machine learning algorithms, Namaste is focused on increasing organically driven revenue across its platform and expects to see significant growth in monthly revenues while entering into the busiest season of the year for e-commerce.

Management Commentary

Sean Dollinger, President and CEO of Namaste comments: “We’re quite pleased to see such strong revenue numbers for September this year and incredible year-on-year growth. As we enter into busy season, we expect to see a dramatic increase in sales leading up to the holidays. We are also very pleased to be making progress with our Cannmart facility and are focused on working with Mr. David Hyde and Eurofins Experchem Laboratories Inc. as well as Health Canada to continue with our plan to launch our medical cannabis sales platform early in the new year.”

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Mushroomstocks.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.


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