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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 revenues |
|||||||||||||||||||
| 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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