This past Friday, the market leader in the cannabis, nicotine and CBD vaporizers and electronic cigarettes industry VPR Brands (OTCMKTS:VPRB) was in considerable focus among investors.
The company came into sharp focus after it announced its financial results for the fiscal quarter that ended on June 30, 2021 and also provided an update with regards to the year to date sales at the time. The performance provided a boost to the stock and it ended the day with gains of as much as 41%. VPR Brands managed to bring in revenues to the tune of as much as $1,709,719 in the period and that reflected a considerable improvement from the $1,205,370 that it generated in the year ago period.
While the rise in revenues was significant, it is also necessary to point out that in 2020 the company suffered during the second quarter due to considerable health concerns that had been raised about vaporizers. In addition to that, investors need to also note that in the second quarter of 2021, VPR Brands managed to boost its number through direct online sales as well.
The cost of sales for the quarter came in at $915,815 and that was higher than the cost of sales of $751,691 in the prior year period.