KonaRed Corp., Koloa, Hawaii, the manufacturer of premium Hawaiian Cold Brew and Whole Bean Coffee, announced that its comparative revenue grew by 132 percent from $174,000 in Q3 2015 to $404,000 for the three-month period ending Sept. 30. Revenue for the comparative nine-month period grew by 34 percent from $587,000 to $789,000, the company says.
Driven by strong cold-brew coffee sales, KonaRed’s new line of Cold Brew Coffees accounted for 76 percent of sales for Q3 2016’s three-month period and 54 percent for the nine-month period, it adds. During the year-to-date respective three-month periods, the company’s Cold Brew sales increased from $22,000 in Q1 to $99,000 in Q2, and to $307,000 in Q3, representing quarterly growth for Q1 to Q2 of 350 percent and 210 percent for Q2 to Q3, it says.
KonaRed’s President and Chief Operating Officer Kyle Redfield said: “We’ve been working very hard to acquire new customers and build a distribution network to capitalize on the line of Cold Brew Coffees we introduced in February 2016. Quarter three results prove we’re now getting traction. Particularly interesting is a sizable component of Cold Brew Coffee sales growth is from repeat customers and re-orders are accelerating. This shows us our established customers and regions still have a lot of room for growth, as do new regions and customers we will be expanding into in the near future.” BI