Avenir Wellness Solutions Inc. (AVRW)
OTC PINK OTC PINK Primary Summary
Avenir Wellness Solutions Reports Fourth Quarter 2023 Results
New Initiatives Showing Encouraging Results SHERMAN OAKS, CA / ACCESSWIRE / May 17, 2024 / Avenir Wellness Solutions, Inc. (OTCQB:AVRW) ("Avenir" or the "Company"), a proprietary broad platform technology and wellness company, today announced results for the fourth fiscal quarter ended December 30, 2023. Key financial highlights for the fourth quarter included the following: Net revenue in the fourth quarter of 2023 increased to $1.1 million from the same period in 2022 by $0.2 million, or 11.7%, and also increased sequentially from Q3 2023 by $43 thousand, or 4.4%.
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Avenir Wellness Solutions Inc. Profile
| Food Products Industry | Consumer Staples Sector | Joel Bennett CEO | OTC PINK Exchange | 23127P104 CUSIP |
| US Country | 11 Employees | - Last Dividend | 21 Jul 2016 Last Split | - IPO Date |
Overview
Avenir Wellness Solutions, Inc. is a distinguished entity in the burgeoning nutraceutical industry, known for its innovative approach in formulation and delivery technologies of wellness products. Initially founded under the name CURE Pharmaceutical Holding Corp., the company underwent a significant rebranding to Avenir Wellness Solutions, Inc. in October 2022, marking a new chapter in its journey. With a strategic focus on enhancing the efficacy and wellness experience through novel dosage forms, Avenir Wellness Solutions has carved a niche for itself. The company's operations are efficiently carried out through its subsidiary, The Sera Labs, Inc., which stands at the forefront of development efforts. Headquartered in Sherman Oaks, California, since its inception in 2014, Avenir Wellness Solutions has been steadfast in its mission to contribute positively to the health and wellness sector.
Products and Services
- Beauty, Health and Wellness, and Pet Care Products
Avenir Wellness Solutions, Inc. offers a diverse range of products across various categories including beauty, health and wellness, and pet care. Their brands such as Seratopical, Seratopical Revolution, SeraLabs, and Nutri-Strips, have become synonymous with quality and innovation. These products are developed with the goal to cater to the comprehensive wellness needs of consumers and their pets by utilizing cutting-edge nutraceutical formulation and delivery technologies.
- Retail and Direct-to-Consumer Sales
The company has established a robust distribution network that allows its products to be accessible to a wide audience. Products are sold through various channels including drug and grocery chains, convenience stores, and mass retailers, ensuring that consumers can easily find their preferred products. Additionally, Avenir Wellness Solutions embraces the direct-to-consumer (DTC) model, offering products via online website orders. This includes opt-in subscriptions, which provide a convenient option for consumers to receive their products. The company's strategic approach to sales also encompasses offering its products under private label to retailers and multi-level marketers, thereby expanding its market reach and brand recognition.
