Kaival Brands Reports Fiscal 2022 Third Quarter Financial Results
GRANT, Fla., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company" or "we, our or similar terms), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), which are intended for adults 21 and over, today announced its financial results for the fiscal 2022 third quarter ended July 31, 2022.
- GRANT, Fla., Sept. 12, 2022 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company" or "we, our or similar terms), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), which are intended for adults 21 and over, today announced its financial results for the fiscal 2022 third quarter ended July 31, 2022.
- Eric Mosser, President and Chief Operating Officer of Kaival Brands, stated, "Revenues in our fiscal third quarter ended July 31, 2022 increased almost 11% from the second fiscal quarter and more than 25% from the first fiscal quarter.
- Revenues: Revenues were $3.8 million in the third quarter of fiscal year 2022, compared to $3.2 million in the same period of fiscal year 2021.
- As a result of the grant of the judicial stay of the MDO, our revenues increased in the third quarter of fiscal 2022, as compared to second quarter of fiscal 2022.