Thank you for this post, will look up these numbers.
Here's the disconnect! In June and July 2018 SPRV and Web to Door were touting the fact that 10,000,000 packages were delivered in 2017 and these 10,000,000 packages generated $15.7 million in annual revenues, an average of $1.57 per package.
On November 14, 2018 CEO Roderick Santulan distributed a PR, clearly claiming the Company delivered 580,000 in September, 725,000 in October, and anticipated finishing November with 920,000 deliveries and projected a million packages for December. Totaling these four months, Santulan was specifically claiming Web to Door would deliver 3.2 million packages during the four highest volume months of the year. As an aside, keep in mind the volume for Sept thru Dec was not only driven by the Holidays, but the opening of the Valley City, Utah facility in October. The Utah site was not operational from January thru September. Multiplying 3.2mm by 3 to annualize the delivery volume, even based upon the high volume months of September thru December, the annual delivery total would be 9.6 million, not even the 10,000,000 done in 2017. And of course we know 9.6 million is far too high, given the Holidays and Utah. The actual 2018 volume, assuming the 580,000 done in September was also the "average" volume per month for January thru August 2018, would fall in the range of 8.5mm to 9.0mm!
If Web to Door did $15.7 million in revenue on 10,000,000 packages in 2017, how could it do $19 million in revenue on 9,000,000 packages in 2018? It doesn't compute! Plus the revenue question is compounded by the trending market dynamics and the related pricing pressure! Given the intense competition in the "last mile" delivery space, the average revenue per package for 2018 probably decreased from the 2017 average of $1.57 per unit.
All of the cited numbers are based on CEO Roderick Santulan's public disclosures! THEY ARE LIL ROD'S "WORDS", NOT MINE!
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