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Benzinga
Benzinga
Business
Vuk Zdinjak

IGINITE's Unaudited 2021 Revenue Improves 366% YoY To $78.8M, COO Resigns

CSE

IGNITE International Brands, Ltd. (CSE:BILZ) (OTCQX:BILZF) reported its revenue for 2021 was $78.8 million compared to revenue for 2020 of $16.9 million. Fourth quarter 2021 revenue was close to $50 million. The company expects its audited financial statements for 2021 to show a profitable fourth quarter and a profitable year.

The performance is a direct result of IGNITE's rapid international expansion which it expects to continue in 2022. Based on revenue in the months of January and February and orders and contracts in place impacting March and the remaining months in 2022, the company projects Q1 2022 revenue to exceed $25 million compared to Q1 2021 revenue of $3.6 million.

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