Vaporin (VAPO), a publicy traded e-cig company headquartered in beautiful Miami, FL has become one of the dominate players in the billion dollar e-cig/vapor industry. Through their network of distributors and c-stores, Vaporin has managed to penetrate the vapor market on a national level with their incredible arrangement of e-liquids, affordable vaporizers, disposable e-cigs and accessories.
Vaporin’s Vanilla E-Juice is one of the personal favorites of our team here at VaporInformer.com, packing such an intense burst of flavor that if you closed your eyes you would be convinced you were eating vanilla ice cream. Not to mention their array of vaporizers goes beyond the usual liquid types and into their incredibly popular wax & herb vaporizers. We had the pleasure of speaking to Vaporin CEO, Scott Frohman, who brings close to 20 years of executive management experience for the multiple public companies he once presided over prior to launching Vaporin last year. Mr. Frohman told us “both online and in-store sales continue to increase above levels that we expected, proving we carry some of the best products in the industry“.
Speaking of sales, the company announced today “Sequential Revenue Growth of 130% for the Second Quarter Ending June 30, 2014.” where financial highlights are as follows:
- Revenue for the first six months of 2014 totaled $602,000;
- Revenue for the second quarter of 2014 increased 130% to $419,000 as compared to $182,000 for the first quarter of 2014;
- Growth sequentially was driven predominantly by an increase in convenience store distribution which increased over 300% and online sales which increased 10X;
- Gross profit margins improved to 43.2% for the second quarter of 2014 as compared to 36.8% for the first quarter of 2014;
- Gross profit margin improvement was driven by preferred product pricing, product volume increase and direct to consumer sales via online marketing.
Mr. Frohman went on to say “During the quarter our c-store distribution tripled and internet sales increased tenfold.” Vaporin has kept their eye on continued expansion with a phenomenal operation strategy that includes entering the medical marijuana industry with an exclusive distribution agreement with Terra Tech Corp. (TRTC) to supply proprietary vaporizer products for resale throughout their cannabis dispensary network in California, Colorado, Washington and Oregon.