PlantX Life (CSE: VEGA) (OTCQB: PLTXF) (Frankfurt: WNT1), the digital face of the plant-based community operating a one-stop shop for plant-based products, today announced unaudited monthly financial metrics for January 2023. Among the results, the company reported monthly gross revenue of $942,000 in January 2023, a decrease of 25% compared to $1.261 million in January 2022. The decrease was driven entirely by PlantX’s operational initiatives to accelerate the path to long-term, sustainable profitability, which more than offset 46% growth in the Little West cold-pressed juice and Portfolio Coffee beverage businesses, and 48% growth in the Locavore Bar & Grill. “We have started off 2023 in a strong position as we sharpen our focus on profitable growth within the large and attractive plant-based consumer market,” said PlantX CEO Lorne Rapkin. “After making some big moves last year including the acquisition of Vegan Essentials, in recent months we have turned our attention to fine tuning our operations with the goal of pulling forward our break-even timelines for our core ecommerce and retail businesses. Collectively, these actions have eliminated or reduced unprofitable revenue, as evidenced by January 2023 sales, but have set us up for higher profits. Looking forward, we plan to grow our business through measured expansion and optimization of the verticals with the highest growth potential.”
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About PlantX Life Inc.
As the digital face of the plant-based community, PlantX’s platform is the one-stop shop for for plant-based products. With its fast-growing category verticals, the company offers customers across North America more than 5,000 plant-based products. In addition to offering delivery service for meals and indoor plants, the company currently has plans underway to expand its product lines to include a juice and coffee company. PlantX uses its digital platform to build a community of likeminded consumers and, most importantly, to provide education. Its successful enterprise is being built and fortified on partnerships with the top nutritionists, chefs and brands. The company’s digital presence works to eliminate the barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life. For more information, visit the company’s investor website at https://Investor.PlantX.com.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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