Conversion Labs Announces Robust Sales Traction To Start 2019
NEW YORK, March 22, 2019 (GLOBE NEWSWIRE) -- Conversion Labs, Inc. (OTCQB:CVLB) (“Conversion Labs” or “Company”), an e-commerce company focused on building and scaling innovative branded consumer products and software, today announced promising sales data to start 2019, driven by sales of the Company’s two main products Shapiro MD and iNR Wellness MD as well as recently launched Scarology.
- Anticipated record quarterly sales for the Shapiro MD product line
- Strong commercial traction for iNR Wellness product line
- Promising, early stage commercial traction for Scarology product line
Conversion Labs’ portfolio of products experienced strong demand to start fiscal year 2019. iNR Wellness MD, an immune support supplement, is nearing 3,000 units sold in the first quarter of 2019, while Scarology, a scar healing solution, has produced some of the highest average order values seen by Conversion Labs. Upon the Company’s internal review of certain metrics including customer acquisition costs, we believe that both products can be scaled profitably with additional marketing resources, however, no guarantees can be made that each product will be profitable or that additional marketing resources will be available to the Company in the future.
“We are extremely proud that the sales momentum from 2018 has carried over to the start of 2019,” stated Justin Schreiber, Conversion Lab’s President and CEO. “Data from our newest product launch, Scarology, has thus far been promising. Our immune support supplement, iNR Wellness MD, has reported better than expected 2019 sales data. We have seen immediate demand and early signs that point to both products potentially being able to be to scaled profitably given additional resources. ShapiroMD, our lead product line, continues to thrive and we anticipate expanding its presence to international markets during 2019. We look forward to sharing additional sales data with our shareholders in the coming weeks.”
The Company is currently in the process of finalizing its consolidated financial statements and expects to announce financial results for the fiscal year of 2018 prior to April 1, 2019 via press release and its Annual Report on Form 10-K. Accordingly, the financial information disclosed in this press release may be subject to adjustment.
About Conversion Labs
Conversion Labs, Inc. (the "Company") is an e-commerce company with a portfolio of 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 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. Forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “anticipates,” “plans,” or similar expressions or the negative of these terms and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause Conversion Labs, Inc.’s actual results to differ materially from those anticipated by the forward-looking statements. 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.
Released March 22, 2019