SAML - Samsara Luggage Reports Strong Financial Results for its Second Quarter

Samsara Luggage's Q2 revenue grew by 200% with an increase in new cluster sales from its newest vertical, Sarah & Sam

PR Newswire

NEW YORK , Aug. 17, 2021 /PRNewswire/ -- Samsara Luggage ("Samsara Luggage" or the "Company") (OTC: SAML), maker of innovative travel products, announced today strong financial results for its fiscal second quarter ended June 30, 2021 ("Q2 2021). Samsara Luggage reported a 200% revenue increase in Q2 2021 versus Q1 in the prior year driven by new cluster sales from Sarah & Sam , Samsara Luggage's online fashion and lifestyle collection that launched in the fall of 2020. Year-to-date gross profit for Sarah & Sam increased by an impressive 53%. Both Samsara Luggage and Sarah & Sam benefited from the ongoing market recovery after last year's coronavirus pandemic.

Revenues generated exclusively by Sarah & Sam during the six months ended June 30, 2021 totaled $1 5 0,000 with a gross profit of $8 0 ,000, and during the three months ended June 30, 2021 totaled $ 98 ,000 with a gross profit of $ 45 ,000.

"We are very pleased with our second quarter results as we delivered double digit increased earnings via our newest platform," said Atara Dzikowski , Co-founder & CEO of Samsara Luggage. "Our strong results demonstrates that our company remains agile and able to adapt to industry changes and the needs of our customers. We are optimistic that this impressive momentum will endure as we continue to grow our marketplace with products that address the everchanging travel landscape."

Samsara plans to launch its first product from the Next Gen collection in the second half of 2021. Samsara's Next Gen smart carry-on was received with enthusiasm and anticipation by the press after its unveiling at the 2020 Consumer Electronics Show (CES).

In response to the coronavirus pandemic Samsara Luggage launched the Smart Weekender Nano Bag , an overnight travel bag treated with a layer of bacteriostatic nanotechnology protection that prevents colonies of bacteria from developing on the fabric. Samsara Luggage also launched Essentials by Samsara , a curated collection of protective items including facemask, hand sanitizer, disposable gloves and alcohol wipes. These kits are sold individually and gifted to customers with purchase of the Carry-on Aluminum suitcase or Smart Weekender bag.

Samsara launched Sarah & Sam , a fashion and lifestyle collection in the fourth quarter of the 2020 fiscal year. Sarah & Sam is a part of Samsara Direct , a new business model initiated in response to the travel restrictions enforced due to the coronavirus pandemic. Samsara Direct leverages the Company's established digital assets and manufacturing and fulfillment supply chain capabilities to offer additional consumer products that respond to the changing needs of the market.

About Samsara Luggage:

Samsara Luggage, Inc. (OTC: SAML) is a maker of innovative travel products with a deep belief in creating a world where travel isn't a hassle, but rather an effortless experience. By combining smart features, including IoT technology, innovative design and quality materials, Samsara is dedicated to transforming the travel industry with its products. Samsara Luggage unveiled its Next Generation smart carry-on at the 2020 Consumer Electronics Show (CES). The Next Generation is the first to market a Wi-Fi Hotspot technology for travelers to access a secured network globally.

Forward-Looking Statements:

All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "expects," "anticipates," "intends," "estimates," "plans," "potential," "possible," "probable," "believes," "seeks," "may," "will," "should," "could" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the Company's international manufacturing and supply chain, market acceptance of the Company's smart luggage, successfully implementing the Company's growth strategy, dependence on key Company personnel, changes in economic conditions, competition and other risks, uncertainties and factors, including, but not limited to, those described from in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 , filed with the Securities and Exchange Commission on March 30, 2021 (the "SEC"), the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 , filed with the SEC on August 16 , 2021 and other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

SOURCE Samsara Luggage Inc