- Digital Wine Ventures (DW8) says it generated $1.02 million in revenue over Q4 FY21, a 33 per cent increase quarter-on-quarter
- The online wine business shipped over 75,000 cases of product during the period, and notched up 32,850 customer orders
- DW8 also signed deals with Amazon and Zip (Z1P) during Q4 and signed on an extra 68 suppliers
- Financially, the company ended the quarter with $6.78 million in the bank, having spent $1.5 million on operating activities
- Digital Wine Ventures are trading down 3.66 per cent at 7.9 cents each
Digital Wine Ventures (DW8) has generated $1.02 million in revenue over Q4 FY21, a 33 per cent increase quarter-on-quarter.
The online wine business tabled its June quarterly report on Monday, revealing it shipped over 75,000 cases during the period.
This marks a 22 per cent increase on the March quarter figures and DW8 said the average number of cases per order now sits a 2.33.
A total of 32,850 customer orders were notched up during Q4 and the company believes this number will increase over FY22.
“There’s been a noticeable lift in our key metrics over the last three months as existing and new suppliers embrace new functionality offered via our platform, such as MARKET & DIRECT,” CEO Dean Taylor said.
“The combination of the new revenue streams generated by these products together with very strong customer growth, generated organically and via strategic acquisitions, provides the basis for a very exciting year ahead in respect of revenue growth.”
Activities wise, DW8 said it signed deals with both Amazon and Zip (Z1P) during the quarter as well as welcoming in 68 new suppliers.
It also secured the liquor licence required to launch its INSIDER TRADING wine club, while the WINEDEPOT MARKET went live in Sydney and Melbourne.
Financially, the company ended the quarter with $6.78 million in the bank, having spent $1.5 million on operating activities.
At that rate of spend, DW8 has another 4.3 quarters of growth ahead of it.
Company shares were down 3.66 per cent to trade at 7.9 cents at 11:17 am AEST.