Mohawk Group (NASDAQ: MWK) had an impressive FY2020 as it reported its revenue increased by 62.3% or $71.3 million year-over-year to $185.7 million. This performance was influenced by the improved profitability and increase in sales and revenue in the fourth quarter. “This 62.3% revenue increase marked a consistent trend year-on-year for the two most recent reporting periods, given that it reported a growth in revenue of 56.2% in 2019 compared to 2018,” reads a recent article on the matter. The article further notes that this upward trajectory is expected to continue based on Mohawk’s earnings guidance, which projects between 88-105% revenue growth for FY 2021, backed by potential mergers and acquisitions. It quotes CEO Yaniv Sarig as saying, “We are currently evaluating a strong pipeline of potential M&A targets that in total have trailing twelve month’s net revenue of $522 million and trailing twelve month’s EBITDA of $97 million.”
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About Mohawk Group Holdings Inc.
Mohawk Group is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon and Walmart. Mohawk has 12 owned and operated brands and sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high-caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics. For more information about the company, visit https://IR.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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