Generation NEXT Announces $3.0 Million of Revenue Recognized in April 2019 Results
SAN DIEGO, CA, May 01, 2019 // GLOBE NEWSWIRE // - via NEWMEDIAWIRE - Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) announced its monthly results for April today showing the fourth month in a row of revenue growth. April’s revenue was approximately $3.0 million on 76 deliveries of Reis & Irvy’s robots compared to $1.2 million on 31 robots in March.
Key highlights and metrics for April:
- Recognized revenue of $3.0 million from 76 units at an average of $40,000 per robot.
- Installed a record number of 67 robots in the United States for 54 franchisees.
- Ended the month with 120 franchisees operating one or more Reis & Irvy’s kiosks in the United States.
- Reached an agreement with American Minority Advisory Council (AMAC) to place Reis & Irvy’s and Print Mates™ kiosks in major airports across the United States.
- Secured 44 new US locations for Reis & Irvy’s robots.
- Installed two Print Mates photo printing kiosks in test locations for a major convenience chain.
- 19 Degrees Corporate Service (“Fund”)
- Started onboarding locations in April with four locations operating by the end of the month.
- Expecting 25 to 35 Fund locations operating by the end of May 2019 and approximately 60 by the end of June.
- Hired 5WPR for media relations aimed at expanding awareness of the Generation Next, Reis & Irvy’s, and Print Mates brands through tier 1 print, online and television media.
- Booked 18 new Reis & Irvy’s franchise commitments worth $1.0 million in deferred revenue (averaging $333,333 per franchise sale and $55,556 per robot sold).
“I appreciate the consistent and quality production from our supply chain partners. They have helped us exceed our April projection by delivering 76 robots and we continue to build momentum each month in the key drivers of profitability and cash flow,” said company CEO Nick Yates. “We currently have a total of 262 robots delivered globally: 229 robots installed throughout the US, a further 23 have been delivered to Canada and 10 to Australia. We anticipate May revenue will range from $2.8 million to $3.6 million on deliveries of 70 to 90 Reis & Irvy’s robots.”
For more information on Reis & Irvy’s visit: www.reisandirvys.com
For more information on Print Mates visit: www.printmates.com
For more information on Generation Next visit: www.gennextbrands.com
About Generation NEXT Franchise Brands, Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol OTCBB: VEND. Generation NEXT Franchise Brands, Inc. is parent company to Reis and Irvy’s, Inc., 19 Degrees Corporate Service, LLC, and Print Mates. www.gennextbrands.com
About Reis & Irvy’s, Inc.
Reis & Irvy’s, Inc. is a subsidiary franchise concept of Generation NEXT Franchise Brands, Inc. (VEND). Launched in early 2016, the revolutionary Reis & Irvy’s Vending Robot serves seven different flavors of frozen yogurt, ice cream, sorbets and gelatos, a choice of up to six custom toppings, and to customers within 60 seconds or less at the point of sale. The unique franchise opportunity has since established itself as a high-demand product and currently showcases a franchise network both domestically as well as internationally. www.reisandirvys.com
About Print Mates™
Print Mates™ was formed by a team of entrepreneurs, engineers, and photography professionals in San Diego that are on a mission to reinvent the premium-quality photo printing experience by making it fast, fun, and inexpensive to get your photos “out of your phone and into your hand” with the Print Mates™ Kiosk - and creating a golden opportunity for entrepreneurs and retailers in the process.
Print Mates’™ easy-to-use, patented touchscreen kiosks are promising to close the loop on the consumer photo lifecycle, as well as drive much-needed foot traffic to traditional brick-and-mortar businesses ranging from supermarkets, grocery and drug stores to big box retailers, shopping malls, family fun centers, and more.
The company began a nationwide expansion in 2019 by offering entrepreneurs, business owners and forward-thinking retailers across the country an opportunity to own a piece of an emerging multi billion-dollar industry.
Print Mates™ Kiosks and ever-expanding product line of photographic decor, gifts, prints and accessories are proudly Made in the USA. www.printmates.com
About 19 Degrees Corporate Service, LLC
19 Degrees Corporate Service, LLC is a Company-managed portfolio that will consist of Reis & Irvy’s kiosks situated at high-value locations in markets where Reis & Irvy’s does not have independent franchisees. Members of 19 Degrees Corporate Service, LLC generally will not participate in the operations of the LLC. Routine stockings, service, and cleaning of the robotic kiosks will be performed by trusted independent service providers under contract with the Company and its subsidiary. Any net cash proceeds from the kiosks will be distributed to the members on a quarterly basis, providing an opportunity for passive income. Member ownership units in the LLC will be issued under the registration exemption Rule 506(c) of Regulation D of the Securities Act of 1933 and will be available only to accredited investors.
This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. No Reis & Irvy’s franchises will be sold to any resident of any state until the offering has been exempted from the requirements of, or duly registered in and declared effective by, such state and the required FDD (if any) has been delivered to the prospective franchisee before the sale in compliance with applicable law. Currently, the following states in the United States regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you reside in one of these states, or even if you reside elsewhere, you may have certain rights under applicable franchise laws or regulations.
Cautionary note on forward-looking statements:
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning our future financial performance, including statements regarding: our ability to generate revenue and recognize deferred revenue; our ability to timely launch delivery and installation of our frozen yogurt robots; and our ability to grow our franchising and licensing divisions and launch our corporate-owned and direct sales platforms. The Company bases these forward-looking statements on its current expectations, estimates and projections about future events and the industry in which it operates using information currently available to it. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Forward-looking statements are identified by words such as “believe,” “anticipate,” “propose,” “expect,” “intend,” “plan,” “will,” “may,” “estimates,” variations of such words and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this press release are set forth in our filings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K for the year ended June 30, 2018, our Quarterly Reports, and our Current Reports on Form 8-K. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated and the Company is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
Generation NEXT Franchise Brands
SOURCE Generation NEXT Franchise Brands
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