Splash Beverage (NYSE American: SBEV), a portfolio company of leading beverage brands, is reporting its financial results for the fourth quarter and full year 2021, for the period ended Dec. 31, 2021. Highlights of the report include Q4 revenues of $3.06 million compared to $1.08 million in the same period last year, representing an 18% increase, and full-year revenues of $11.3 million, an increase of 391% over the $2.3 million reported the previous year. The company noted that the increases were primarily due to sales from each of the company’s beverage divisions. Other noteworthy numbers include Q4 gross margin of $339,000 compared to $110,000 in the prior year period and full-year gross margin of $2.6 million compared to $364,000 in the prior year period. The company reported fourth-quarter profit (net loss) of $5.8 million, a decrease from the $13.2 million in the prior year period, and total cash profit (net loss) of $728,000 compared to $5.2 million in the prior period. Splash Beverage ended the year with total cash and cash equivalents of $4.1 million, compared with $380,000 at Dec. 31, 2020. “Our 2021 full-year results include all the impact of costs incurred during the process of becoming a public company, including significant noncash charges like stock-based compensation,” said Splash Beverage CEO Robert Nistico in the press release. “We finished the year with more than $4 million in cash and less than $1 million of long-term liabilities. And I’d like to note that our $8.0 million equity raise conducted in Q1 2022 further strengthened the healthy balance sheet that Splash achieved as we closed the 2021 fiscal year.”
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About Splash Beverage Group Inc.
Splash Beverage Group, an innovator in the beverage industry, owns a growing portfolio of alcoholic and nonalcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splash’s strategy is to rapidly develop early-stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution. For more information about the company, please visit www.SplashBeverageGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to SBEV are available in the company’s newsroom at https://ibn.fm/SBEV
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