News

U-Vend announces revenue increase of 300 percent

May 4, 2016

Kiosk developer U-Vend Inc. has announced that its revenue spiked by more than 300 percent during the 2015 fiscal year. Gross profits increased 386 percent, according to a press release.

The company's overall revenue increased 332 percent from $268,804 in 2014 to $891,227 in 2015. Its gross margin rose from 33.8 percent to 39.8 percent, according to the release.

"As we anticipate introducing and penetrating the market with our Frozen Pon Premium Ice Cream product, the Official Ice Cream of the NHL, and secure sizable retail and wholesale distribution partners, we expect to continue to meet our internal goal of period-over-period revenue growth," said Raymond Meyers, CEO of U-Vend. "The globally recognized brand partnerships we have been able to establish [and] the creative consumer products we are developing coupled with the geographic expansion of our retail self-serve kiosk and merchandiser locations, provide us with tremendous long-term opportunity."