TBLT - ToughBuilt Industries stock jumps after Q4 revenue grew more than 100%

ToughBuilt Industries (TBLT +68.6%) shares jumped despite earnings miss on Monday. Q4 revenue increased 105% Y/Y to $24.6M, as a result of recurring orders from existing customers and addition of new customers and new product launches. The company also intends to launch 5-10 new product lines and continue to expand its global distribution in 2022. Michael Panosian, ToughBuilt’s CEO, commented, “We closed 2021 with record sales of $70 million, in line with our expectations. Our current product lines and our newly launched innovations continue to enjoy significant traction with our retailer partners and end users.” Over a period of one year, shares slipped more than 67%.

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ToughBuilt Industries stock jumps after Q4 revenue grew more than 100%