If the pandemic did anything positive, it would help e-commerce explode and generate a shift in consumer habits. Consumers largely shifted their purchasing habits from in-person to online ordering. According to the Department of Commerce, e-commerce sales in the United States broke the $1 trillion threshold for the first time and totaled $1.02 trillion in the past 12 months last November. This comes despite soaring commodity prices and inflation that had been hampering sales. The U.S. is still in its early innings for digital disruption and one under-the-radar company is positioned to see tremendous growth.
Record Revenues with 250% YOY growth and moving from an adjusted EBITDA loss to positive adjusted EBITDA is a noteworthy highlight of the company and from 2020 to 2023 the company has seen a 92% CAGR. Fiscal 2022 revenue was $23.1M, Fiscal 2023 revenue was $80.7M and now the company has projected over 100M in revenue for calendar year 2023! Some more reasons to have your eyes on this NASDAQ company include strategic relationships with Microsoft and Lenovo and distribution agreements with retail giants Walmart, Costco, BJ's, Sam's Club, and Amazon. Also, the company has a licensing deal with The Walt Disney Company and the ONLY Disney-licensed STEM toy of 2023.
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