Saturday, September 17, 2022 7:37:13 AM
https://thestreetreports.com/kaival-brands-innovations-group-inc-nasdaqkavl-reports-higher-revenue-in-q3/
Kaival Brands Innovations Group Inc (NASDAQ:KAVL) has made considerable progress over the course of the year so far and earlier this week on September 12 it was in the news after it announced its financial results for the fiscal third quarter. It may be a good idea for investors to consider taking a closer look at it in order to have a better idea about the situation at the company.
Market Stats
On Wednesday, KAVL stock fell 1% to $1.18 with 100K shares, compared to its average volume of 1.73 million shares. The stock moved within a range of $1.1600 – 1.2100 after opening trading at $1.19.
On the financial performance front, the company managed to bring in revenues of $3.8 million for the quarter and that was a significant improvement on the $3.2 million in revenues that it had earned in the prior year period. This topped analysts’ estimates by $0.35 million.
The gross profits for the third quarter stood at $442100 and that was again an improvement on the $84300 that it had generated in gross profits in the prior year period. On the other hand, the operating expenses actually went up to $4.3 million from $3.3 million in the prior year period. Net losses suffered by Kaival Brands was $3.9 million and that actually widened from the $3.4 million net loss in the prior year period.
There were some significant milestones that had been achieved by the company during the third quarter. The most important one was perhaps the international licensing agreement that was agreed by Kaival Brands International LLC, the company’s fully owned subsidiary with Phillip Morris Products SA. Phillip Morris Products SA is a fully owned affiliate of the tobacco behemoth Phillip Morris International Inc.
However, that is not all. Another major highlight from the third quarter for Kaival Brands was the launch of VEEBA, a customized branded product with a self-contained e-vapor. The product is going to be sold in Canada and the royalties that are going to accrue to Kaival Brands are in line with the international licensing agreement with Philip Morris.
Traders Corner
KAVL stock is trading below the 20-Day and 50-Day Moving averages of $1.20 and $1.21 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.31.
Recent KAVL News
- Kaival Brands Reports Fiscal 2024 First Quarter Financial Results and Provides Business Update • GlobeNewswire Inc. • 03/27/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/26/2024 10:15:33 PM
- Kaival Brands Provides Business Update in Letter to Shareholders • GlobeNewswire Inc. • 02/14/2024 09:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/12/2024 10:15:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 09:54:48 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 01/29/2024 10:10:18 PM
- Kaival Brands Partner Bidi Vapor to Contest FDA Denial of ‘Classic’ Tobacco-Flavored ENDS • GlobeNewswire Inc. • 01/29/2024 01:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 10:14:06 PM
- Kaival Brands Innovations Group Announces Reverse Stock Split • GlobeNewswire Inc. • 01/23/2024 01:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/22/2024 02:00:20 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 01/16/2024 05:15:25 AM
- Form 424B1 - Prospectus [Rule 424(b)(1)] • Edgar (US Regulatory) • 01/12/2024 10:21:13 PM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 01/12/2024 02:59:14 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/28/2023 09:15:44 PM
- Kaival Brands Appoints Executive Chairman Barry Hopkins as Interim Chief Executive Officer and President • GlobeNewswire Inc. • 12/28/2023 01:30:00 PM
- Form DEF 14C - Other definitive information statements • Edgar (US Regulatory) • 12/22/2023 01:00:43 PM
- Form S-1/A - General form for registration of securities under the Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 12/12/2023 09:16:14 PM
- Form PRE 14C - Other preliminary information statements • Edgar (US Regulatory) • 12/12/2023 09:05:37 PM
- Kaival Brands Appoints James W. Dobbins as Senior Vice President, General Counsel • GlobeNewswire Inc. • 12/07/2023 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/05/2023 09:15:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/13/2023 09:31:02 PM
- Kaival Brands Expands Senior Management Team with the Appointment of Barry Hopkins as Executive Chairman • GlobeNewswire Inc. • 11/13/2023 01:15:00 PM
- Kaival Brands Leads the Way in Compliance as FDA Ramps Up Enforcement of Illicit Vape Products • GlobeNewswire Inc. • 11/07/2023 01:15:00 PM
- Kaival Brands Innovations Group, Inc. Highlighted in Updated Research Report Released by Harbinger Research, LLC • GlobeNewswire Inc. • 10/12/2023 03:51:16 PM
- Kaival Brands to Present at the Fall Foliage MicroCap Rodeo Conference • GlobeNewswire Inc. • 10/09/2023 08:15:00 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM