On Friday, the LFTD Partners Inc (OTCMKTS:LIFD) stock was in the middle of a strong rally and ended the day with gains of as much as 15% amidst heavy focus. The company is best known for being the parent company of the psychedelics and cannabis consumer packaged products outfit Lifted Made.
On Friday, LIFD stock moved up 15.38% to $4.50 with 8.3K shares, compared to its average volume of 1.64K shares. The stock moved within a range of $3.9250 – 5.2200 after opening trade at $3.94.
LFTD Partners Inc. Reports Record Annual Revenue and Net Income, and Expects 2022 Revenue to Exceed $75 Million
Back on April 1, the company came into focus in a big way after it announced its revenues for the fourth fiscal quarter and the full year 2021. More importantly, it proved to be the sixth consecutive quarter in which the company managed to post positive earnings per share as per Generally Accepted Accounting Principles.
LFTD Partners managed to post revenues of $31,656,932 in the 2021 fiscal year and that reflected a year on year rise of a staggering 482% in 2020. On the other hand, the net income in the fiscal year stood at $5,799,982 and that was another major development considering the fact that in the prior year period the company had suffered a loss of $1,534,589. The basic earnings per share came in at $0.50 each and that was again a significant rise from the $0.29 basic earnings per share that it clocked in 2020.
Nicholas S. Warrender, Vice Chairman and COO of LFTD Partners, and founder and CEO of Lifted Made, said, “Our tremendous growth and profitability during 2021 was a reflection of the team and infrastructure that we have built over the years and is a testament to the power of a true consumer-run business. The culture we have created breeds innovation and has set a new benchmark for quality and consumer experience throughout the hemp cannabis industry. Fueled by the momentum of 2021, we expect Q1 2022 to be another record quarter based upon our outstanding sales so far this year, and barring any regulatory setbacks, we expect our 2022 revenue will reach or exceed $75 million. Notably, this 2022 sales projection does not assume any revenue from a groundbreaking new federally compliant psychedelic product that we expect to launch this year that will contain zero cannabinoids and further diversify our portfolio of products.”
LIFD stock is trading above the 20-Day and 50-Day Moving averages of $3.93 and $3.94 respectively. Moreover, the stock is trading above the 200-Day moving average of $4.06.