Mohawk Group Holdings Inc. (NASDAQ: MWK) Announces Fourth Quarter & Full Year 2020 Results

 

• Mohawk Group Holdings Inc. has announced its Q4 and full-year 2020 results
• The Q4 Net Revenue Grew 61.9% Year-Over-Year to $41.5 Million from $25.6 million in Q4 2019
• The company’s full-year operating loss of $(34.8) million improved from $(54.3) million in 2019

Mohawk Group Holdings (NASDAQ: MWK) is a CPG (Consumer Packed Goods) platform concentrated on developing proprietary technology using data and artificial intelligence to operate and manage consumer product brands. AIMEE(R) (AI Mohawk E-commerce Engine) is the company’s next-generation E-commerce platform that employs the latest technologies to launch new CPG products and identify market opportunities. These CPG products constitute 12 brands in multiple categories ranging from kitchenware, consumer electronics, and home appliances to environmental appliances.

The company recently announced its Q4 and Full-Year 2020 results, some major highlights are as below:

• Full-year net revenue grew by 62.3% year-over-year to $185.7 million, from $114.5 million in the full year of 2019. The fourth-quarter net revenue grew 61.9% to $41.5 million, from $25.6 million in the fourth quarter of 2019
• The full-year gross margin improved to 45.6% as compared to 39.4% in 2019. The fourth-quarter gross margin improved to 45.2% compared to 35.4% fourth quarter of 2019
• Full-year operating loss of $(34.8) million improved from $(54.3) million in 2019. Full-year operating loss includes $12.7 million of loss related to change in fair value of potential future performance-based earnouts from acquisitions and $22.7 million of non-cash stock compensation
• The company’s actual quarterly loss of $0.33 per share compares to a loss of $1.06 per share a year ago. These figures are adjusted for non-recurring items

The company’s detailed 2019 Q4 result reports are available at https://ibn.fm/bv7lh.

The quarterly net revenue grew 61.9% year-over-year and although they are still operating at a net loss as they grow, their full-year operating loss showed significant improvement from 2019 (https://ibn.fm/gqIGD).

For more information, visit the company’s website at www.Mohawkgp.com.

NOTE TO INVESTORS: The latest news and updates relating to MWK are available in the company’s newsroom at https://ibn.fm/MWK

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