Generation NEXT announces $3.0 million of revenue recognized in April 2019 results
Company Installed 76 New Kiosks at an Average Revenue of $40,000 Per Unit
SAN DIEGO, CA, May 01, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) announced its monthly results for April today showing the fourth month in a row of revenue growth. April’s revenue was approximately $3.0 million on 76 deliveries of Reis & Irvy’s robots compared to $1.2 million on 31 robots in March.
Key highlights and metrics for April:
- Recognized revenue of $3.0 million from 76 units at an average of $40,000 per robot.
- Installed a record number of 67 robots in the United States for 54 franchisees.
- Ended the month with 120 franchisees operating one or more Reis & Irvy’s kiosks in the United States.
- Reached an agreement with American Minority Advisory Council (AMAC) to place Reis & Irvy’s and Print Mates™ kiosks in major airports across the United States.
- Secured 44 new US locations for Reis & Irvy’s robots.
- Installed two Print Mates photo printing kiosks in test locations for a major convenience chain.
Print Mates photo kiosk - 19 Degrees Corporate Service (“Fund”)
- Started onboarding locations in April with four locations operating by the end of the month.
- Expecting 25 to 35 Fund locations operating by the end of May 2019 and approximately 60 by the end of June.
- Hired 5WPR for media relations aimed at expanding awareness of the Generation Next, Reis & Irvy’s, and Print Mates brands through tier 1 print, online and television media.
- Booked 18 new Reis & Irvy’s franchise commitments worth $1.0 million in deferred revenue (averaging $333,333 per franchise sale and $55,556 per robot sold).
“I appreciate the consistent and quality production from our supply chain partners. They have helped us exceed our April projection by delivering 76 robots and we continue to build momentum each month in the key drivers of profitability and cash flow,” said company CEO Nick Yates. “We currently have a total of 262 robots delivered globally: 229 robots installed throughout the US, a further 23 have been delivered to Canada and 10 to Australia. We anticipate May revenue will range from $2.8 million to $3.6 million on deliveries of 70 to 90 Reis & Irvy’s robots.”
For more information on Reis & Irvy’s visit: www.reisandirvys.com
For more information on Print Mates visit: www.printmates.com
For more information on Generation Next visit: www.gennextbrands.com
About Generation NEXT Franchise Brands, Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol OTCBB: VEND. Generation NEXT Franchise Brands, Inc. is parent company to Reis and Irvy’s, Inc., 19 Degrees Corporate Service, LLC, and Print Mates.
About Reis & Irvy’s, Inc.
Reis & Irvy’s, Inc. is a subsidiary franchise concept of Generation NEXT Franchise Brands, Inc. (VEND). Launched in early 2016, the revolutionary Reis & Irvy’s Vending Robot serves seven different flavors of frozen yogurt, ice cream, sorbets and gelatos, a choice of up to six custom toppings, and to customers within 60 seconds or less at the point of sale. The unique franchise opportunity has since established itself as a high-demand product and currently showcases a franchise network both domestically as well as internationally.
About Print Mates ™
Print Mates™ was formed by a team of entrepreneurs, engineers, and photography professionals in San Diego that are on a mission to reinvent the premium-quality photo printing experience by making it fast, fun, and inexpensive to get your photos “out of your phone and into your hand” with the Print Mates™ Kiosk – and creating a golden opportunity for entrepreneurs and retailers in the process.
Print Mates’™ easy-to-use, patented touchscreen kiosks are promising to close the loop on the consumer photo lifecycle, as well as drive much-needed foot traffic to traditional brick-and-mortar businesses ranging from supermarkets, grocery and drug stores to big box retailers, shopping malls, family fun centers, and more.
The company began a nationwide expansion in 2019 by offering entrepreneurs, business owners and forward-thinking retailers across the country an opportunity to own a piece of an emerging multi billion-dollar industry.
Print Mates™ Kiosks and ever-expanding product line of photographic decor, gifts, prints and accessories are proudly Made in the USA.
About 19 Degrees Corporate Service, LLC
19 Degrees Corporate Service, LLC is a Company-managed portfolio that will consist of Reis & Irvy’s kiosks situated at high-value locations in markets where Reis & Irvy’s does not have independent franchisees. Members of 19 Degrees Corporate Service, LLC generally will not participate in the operations of the LLC. Routine stockings, service, and cleaning of the robotic kiosks will be performed by trusted independent service providers under contract with the Company and its subsidiary. Any net cash proceeds from the kiosks will be distributed to the members on a quarterly basis, providing an opportunity for passive income. Member ownership units in the LLC will be issued under the registration exemption Rule 506(c) of Regulation D of the Securities Act of 1933 and will be available only to accredited investors. Interested accredited investors who qualify can contact our CEO Nick Yates at [email protected] for more information.