ParcelPal Technology Inc. (PKG:CSE; PTNYF:OTCQB; PT0:FSE) generated record revenue, a 75% year-over-year increase, in November 2019, the company announced in a news release.
Specifically, revenue for the month came in at $565,000 versus $322,470 a year earlier. Results were from accelerated sales growth in all of the company's verticals. ParcelPal delivered thousands of packages in November and in doing so, maintained an overall delivery success rate of 99%.
"We saw an acceleration in sales growth across all verticals, especially within eCommerce and same day delivery, which is now starting to scale. This was our biggest November on record, these results are promising across all our geographic segments and verticals, and we're confident about what's ahead. . .Our results this quarter decisively demonstrate the growing profitability and opportunities ahead for us," President and CEO Kelly Abbott said in the release.
During the remainder of 2019, the company intends to initiate major marketing and sales strategies. "I am very confident that we will continue our growth trajectory into 2020 and continue to capitalize on this billion-dollar industry," Abbott added.
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: ParcelPal Technology. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with ParcelPal. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of ParcelPal Technology, a company mentioned in this article.