Total revenue for fiscal year 2021 increased 74% year-over-year, driven primarily by sales from newly acquired
Full Year 2021 Financial Highlights
- Total revenue for the fiscal year ended
December 31, 2021 , was$4,960,016 , an increase of$2,111,103 , or approximately 74%. - Unaudited pro forma revenue for the FY ending
December 31, 2021 , was$14,853,763 , an increase of$9,763,008 , or approximately 192%. - Comparisons to 2020 financial results reflect the Company’s
July 2021 acquisition of TopPop, one of the leading providers of ready-to-freeze alcohol ice pops.
Full Year 2021 Highlights
- Completed a
$40 million private placement. Iconic used proceeds to acquire 100% of TopPop and expand TopPop’s existing 30,000 square foot FDA-registered facility, and to ramp up domestic and international growth of its Bellissima brand by increasing brand awareness through social media and digital marketing, hiring brand ambassadors and product influencers, increasing inventory, and preparing to roll out new brands in the near future. - Completed the
July 2021 acquisition of TopPop, a premier product development, contract manufacturing and packaging company specializing in flexible packaging applications in the food, beverage and health categories. It is a leader in innovating low-calorie, ready-to-go drinks; ready-to-freeze (RTF); and ready-to-drink (RTD) products. It holds the federal and state licenses necessary to manufacture and blend malt-, wine- and spirits-based products. The acquisition has positioned Iconic as a vertically integrated company, expanding its capabilities to include the development, production and distribution of alcohol brands. - In
September 2021 , TopPop leased an additional 65,000 square foot manufacturing facility inPennsauken, New Jersey . The facility reached full-scale production capability at the end ofMarch 2022 . It has approximately$4 million of high-speed packaging equipment and is expected to triple its current production capacity. - Continued its focus on its “Better-for-You,” “Better-for-the-Planet” sustainable practices within the consumer categories in developing celebrity brands worldwide, such as its Bellissima Prosecco by
Christie Brinkley . - Iconic’s legacy brands, such as Bellissima Prosecco, Bellissima Sparkling Wines, Bella Sprizz Aperitifs and other products, continue to generate momentum, and the Company recently launched Bellissima Zero Sugar Still Wines in 2022.
Management Commentary
“2021 was a historic year for our Company and one that we believe will continue to pay dividends into the future,” said Iconic Chief Executive Officer
“TopPop has expanded from manufacturing 8 million ice pops in 2020 to 42 million in 2021, and we expect to reach 150 million in 2022. Since the acquisition we have expanded TopPop’s facilities and capacity. Our new 65,000 square foot manufacturing facility in
“We are pleased to report that revenue for 2021 increased 74% year-over-year, which mainly came from TopPop and success from our Bellissima Prosecco and Bellissima Sparkling Wines. In
Full Year 2021 Financial Results
Iconic reported revenue of
Cost of sales was
Net operating loss from continuing operations for the year ended
The net loss attributable to Iconic was
From its
About Iconic
Please visit Iconic’s websites and follow us on social media.
Websites: Iconicbrandsusa.com; bellissimaprosecco.com; toppoppkg.com; sonjasangria.com
Twitter: @iconicbrandsus; @Sonja_Sangria
Instagram: @IconicBrandsUSA; @BellissimaProsecco; @sonja_sangria
LinkedIn:
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management; are not guarantees of performance; and are subject to significant risks and uncertainties. These forward-looking statements should, therefore, be considered in light of various risks, including those set forth in Iconic’s reports that it files from time to time with the
Contact
ir@iconicbrandsusa.com
Source:
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