- VPR Brands develops products for the vaping market
- The company recently launched its new dry-herb vaporizer
- VPR continues to experience strong financial results as it builds its product portfolio
VPR Brands LP (OTC: VPRB) is a technology holding company based in Fort Lauderdale, Florida, that continues to drive scale across diverse high-growth verticals. With its award-winning design and diligent product innovation, VPR Brands offers investors a gateway to the vape products marketplace.
VPR Brands boasts an extensive portfolio of tested vaporizer products. Its product suite includes Helium, HoneyStick, Vaporin, Vaporx, GoldLine and GoldLine Hemp products and brands. VPR is taking advantage of a line of CBD (cannabidiol) products to boost growth and gain market share in the cannabis-consumables sector. The company has likewise reported robust year-over-year financial growth, with room for margin improvement, as well as category growth (http://ibn.fm/iHdTq).
Recently, VPR Brands announced the launch of its HRB Turbo Dry Herb Vaporizer by HoneyStick. The HRB Turbo is an ultra-premium, pocket-sized, dry-herb vaporizer that’s available for $99. “The HRB Turbo is the best dry-herb vaporizer with an MSRP under $100 currently on the market,” VPR Brands COO Dan Hoff stated in a news release (http://ibn.fm/8c46d). “The luxurious feel and performance of the unit makes it truly a great value for anyone on the market for a top-tier pocket vaporizer that doesn’t want to spend an arm and a leg. With many of our clients requesting us to make more products for dry herb, it’s a perfect fit into our product line.”
CNW420 recently reported on New Mexico cannabis decriminalization following signing of a bill by New Mexico Governor Michelle Grisham that took effect on July 1, 2019. This law makes New Mexico the 24th state to decriminalize marijuana. Governor Grisham has promised to pursue marijuana legalization in New Mexico. She has created a working group to study legalization in other states and prepare recommendations about the best way to handle legalization next year. Cannabis industry commentators believe that industry participants, including VPR Brands, will be relieved that New Mexico has provided good news to break the chain of legislative setbacks (http://ibn.fm/PvFz5).
VPR Brands has developed a curated product mix to drive sales. That mix includes vaporizers, e-liquids, cannabis consumables, disposable vapes, batteries and tanks. Together, this product mix works to meet consumers’ needs and create synergies across the company’s brands.
VPR is seeing growth, including quarterly revenues that increased by roughly 31 percent year-over-year to $1.3 million. Moreover, the company slightly decreased its net loss from about $149,000 in Q1 2018 to approximately $138,000 in Q1 2019. VPR also continues to maintain healthy gross operating margins of greater than 40 percent (http://ibn.fm/O9aCd).
VPR Brands also reported positive financial results for full-year 2018, including increased revenues totaling an estimated $4.6 million. In addition, the company reversed its operating loss of more than $888,000 into positive territory above $9,000. Full-year 2018 gross operating margins rose by nearly 20 percent from 2017 to a margin of 41 percent last year (http://ibn.fm/KeO2S).
Company assets include issued U.S. and Chinese patents for atomization-related products. Its patents include technology for medical marijuana vaporizers and electronic cigarette products and components. Additionally, the company engages in product development for the vapor and vaping market, including e-liquids. VPR Brands has a seasoned management team with wide-ranging experience in the vaporizer category.
For more information, visit the company’s website at www.VPRBrands.com
NOTE TO INVESTORS: The latest news and updates relating to VPRB are available in the company’s newsroom at http://ibn.fm/VPRB