VANCOUVER, British Columbia, Nov. 13, 2019 /PRNewswire/ -- Next Level Energy Inc.—makers of Eagle Energy natural caffeine vaporizers—is reporting fiscal 2018/19 as its first profitable year, with a growing, loyal customer base and expansion to international markets driving a 462% revenue gain.
Founded in 2015 with the goal to provide a better, healthier alternative to caffeine, the privately held Canadian company attributes Eagle Energy sales and revenue growth to:
- The growing global popularity of vaporizer products with over 40 million users, up from 7 million in 2011.
- 2018 launch in new international markets, including Japan, South Korea, Israel and Gulf Cooperation Council countries.
- Continued research to improve quality and functionality resulting in increased repeat customers.
- New strategic marketing partnerships increasing customer reach.
"It has been a record fiscal year for the company," states Founder, CEO Elliot Mashford. "Eagle Energy products have successfully established a consumer fit and following as a caffeine alternative. That's always been our objective, and as the first and only energy inhaler made from natural, active, plant-based ingredients, we're now leading the caffeine alternative vaporizer space."
Mashford credits increased profitability to improved cash management and purchasing decisions as well as higher product margins.
In fiscal 2019/20, Next Level Energy Inc. is projecting C$6 million in sales based on:
- Strategic emphasis on natural caffeine vaporizer positioning, separating the Eagle Energy brand from new regulatory bans being put in place for THC, CBC and nicotine products.
- Continued strict adherence to regulatory compliance, including CE, FCC and RoHS certification standards.
- Scaling retail presence and recurring wholesale revenue in Japan and the U.S.
- Launch of new flavors and new vaporizer format in Japan and U.S.
- Increased direct to consumer spend to support retail sales as well as sales through Shopify, Amazon and Rakuten.
Eagle Energy Natural Caffeine Vaporizers currently function as a non-refillable, closed tank system—a refillable, open tank product is under development and expected to be launched in 2020. The combined vaporizer sector is predicted to reach a global market value of US$45 billion by 2023.
ABOUT NEXT LEVEL ENERGY INC.
Since 2015, Vancouver, Canada based Next Level Energy Inc. has been developing alternative technologies for caffeine users based on over a decade of data on electronic vaporizer products. Determined to find a better, healthier system for consumers to get their energy boost, the company created Eagle Energy—the first and only energy inhaler made from natural, active, plant-based ingredients, including guarana extract, ginseng, and vitamin B12. Eagle Energy is available in the United States at eagle.energy and through retail/online in Japan, China, Israel, South Korea, and Gulf Cooperation Council countries.
SOURCE Next Level Energy Inc.