Nightfood Holdings, Inc. Releases Financial Results for 2021 Fiscal Year
Last week, Nightfood Holdings, Inc. (OTCQB: NGTF) released its Fiscal Year financial results for the period ending June 30, 2021. The company is tackling an emerging market in nighttime snacking with billions of dollars of potential, offering healthier alternatives to consumers based on the latest market research.
Financial Results for FY 2021:
Net revenue increased 190% from last year, from $241,673 to $701,246.
Gross sales increased 27% from $878,849 to $1,117,847.
Net revenue increased 190% from $241,673 to $701,246.
Loss from operations decreased 8% from $2,723,875 to $2,509,629.
Total liabilities decreased by 91% from $5,413,472 to $462,703.
Total assets increased by 69% from $932,325 to $1,572,704.
Total stockholders’ equity increased from a deficit of $4,481,147 to $1,110,001 in positive stockholder equity.
Nightfood CEO Sean Folkson said in this report, “I’m proud to share what we’ve accomplished during this transformational year. We view the growth in store count, gross sales and net revenue simply as preliminary validators of the importance of nighttime nutrition, which we believe is the next great consumer health category.”
Folkson also commented on the profitability in Nightfood’s recent pilot of selling their products in hotels, viewing it as a “unique and powerful competitive advantage.”
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