ICNB - InvestorNewsBreaks - Iconic Brands Inc. (ICNB) Achieves Record Revenues in Q1 2022
Iconic Brands (OTCQB: ICNB), a leader in the development, design and delivery of alcohol and non-alcohol beverages, today released its financial results for the first quarter ended March 31, 2022. Among the highlights, the company reported $4,046,797 in total revenue for the first quarter, representing an increase of 538%, as well as $1,841,758 in gross profit, an increase of approximately 483% year over year. “The first quarter of 2022 was a testament to the strength of our business. We had record revenue for FY 2021 at $4.9 million, and this year we were able to achieve nearly that in just one quarter,” said Iconic Chief Financial Officer Dave Allen. “We closed on the second tranche of financing giving the company a solid cash balance for production, expansion and other working capital needs. We put together a national sales team of industry experts and are proud to have launched Bellissima Zero, a new line of zero sugar still wines that complement our existing product line and target the very popular zero sugar alcohol segment. We believe this momentum will continue in years ahead as we now have the capabilities to support the growing demand for our unique and popular product categories.”
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About Iconic Brands Inc.
Iconic is a leader in the development, design and delivery of alcohol and non-alcohol beverages. TopPop, its wholly owned subsidiary, is a leader in the innovation of low calorie, “ready to go” drinks – ready-to-freeze (“RTF”) and ready-to-drink (“RTD”) products in sustainable, flexible and stand-up pouch packaging and in the alcohol ice-pop and “cocktails-to-go” market. Iconic’s brands include “Bellissima” by Christie Brinkley, a premium better-for-you and better-for-the-planet collection of Prosecco, Sparkling Wines and Still Wines, all of which are certified vegan and made with organic grapes. Bellissima is strategically positioned with its zero sugar wines in the zero sugar beverage category. The company operates in multiple states, distributes around the globe and has Fortune 500 customers that include some of the world’s largest alcohol beverage companies and brands. For more information, visit www.IconicBrandsUSA.com.
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