Conversion Labs Reports 89% Increase in Preliminary Revenues During Second Quarter 2018
NEW YORK, July 11, 2018 (GLOBE NEWSWIRE) -- Conversion Labs, Inc. (OTCQB:CVLB) (the “Company”), an e-commerce company that builds and scales innovative brands, today announced preliminary revenues of approximately $2.1 million for the second quarter of 2018 and $3.7 million for the first six months of 2018. These figures represent an increase of 89% and 189% for the comparative year over year periods, respectively.
“We are extremely pleased with our second quarter revenues which were fueled by strong demand for our Shapiro MD hair loss product,” said Justin Schreiber, President and CEO of Conversion Labs. “With three new upcoming product launches, we expect continued robust growth throughout the remainder of 2018.”
Stefan Galluppi, Chief Operating Officer of Conversion Labs commented, “We expect PDFSimpli, the newest addition to our proprietary product portfolio, to be a large driver of growth moving forward. Importantly, as we continue to launch new products, we become increasingly confident that our direct response marketing business can be used as a powerful platform to profitably scale our business.”
The Company is in the process of finalizing its consolidated financial statements and expects to announce its financial results for the 2018 second quarter before August 15, 2018 via press release and on Form 10-Q with the SEC. Accordingly, these figures may be subject to adjustment.
About Conversion Labs
Conversion Labs, Inc. (the "Company") is a technology-driven e-commerce company that builds innovative and proprietary brands. Conversion Labs’ scalable and global advertising technology infrastructure leverages the world’s largest social media, search and e-commerce platforms (Facebook, Google & Amazon) to rapidly and profitably grow our continually expanding product portfolio. To learn more about our corporate strategy, brands or for investor relations please visit www.conversionlabs.com or email us at [email protected]
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell its products; the expected benefits and efficacy of the Company's products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including, our current reports on Form 8-K.
Released July 11, 2018