TBLT stock is forming a complex bottom on November 28, 2019. This un-loved and overlooked ugly duckling could be the quintessential bottom feeder play as we close out 2019.
The brand name ToughBuilt rocks. It’s easy to remember and is describes the product. Here are a few of the products they make:
On November 19, 2019, ToughBuilt reported Q3 revenue $4.85M vs. $3.46M last year. Michael Panosian, Chief Executive Officer of ToughBuilt commented, “We are pleased to announce a 38.3% increase in revenues for the third quarter of 2019 over the third quarter of 2018 and a 22.1% increase in revenues year over year for the nine months ended September 30, 2019, which continues to demonstrate our sustainable growth model. We continue to expand our e-commerce platform. We have had a busy third quarter in addition to our marked revenue increase. In addition to our continued growth in our big box store clients in the U.S., we demonstrated significant growth in Canada and also online throughout Europe including the launch of Amazon storefronts in Germany, France, Spain and Italy, as part of our global e-commerce initiative. We also opened a European base of operations in London, UK to better service our international clients. These measures have become significant drivers of demand for our products. We will continue to expand the number of SKUs represented and aggressively market to big box stores in North America and abroad and to our Amazon storefronts. Building on this success, we are now preparing to launch a much broader business-to-consumer global e-commerce platform, as well as continue our aggressive big box programs.”
On November 26, 2019, ToughBuilt Industries, Inc. (NASDAQ: TBLT), a cutting edge designer, manufacturer and distributor of innovative tools and accessories for the professional and do it your self-construction industries, today announced that its U.S. and Canadian Amazon storefronts had sales in the initial seven months of operation in excess of $1.8 million (or an annualized run-rate of $3.5 million, which is 40% higher than the run rate announced in May 2019 by the Company). These sales were achieved with a gradual increase of product offerings to the Amazon storefronts, with products also being sold on its Amazon storefronts throughout Europe, Australia and other international destinations.
Michael Panosian, Chief Executive Officer of ToughBuilt, commented, “The initial seven months of operation of our North American storefronts has well exceeded expectations. In fact, we seem to be on an even greater upward trajectory in the fourth quarter and should continue an annualized basis. As we continue to roll out our products internationally through our Amazon storefronts, we hope to be able to recreate the online demand for our products globally.”
ToughBuilt is a designer, manufacturer and distributor of innovative tools and accessories to the building industry. We market and distribute various home improvement and construction product lines for both the professional and do-it-yourself markets under the TOUGHBUILT brand name, within the global multibillion dollar per year tool market industry. All of our products are designed by our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our current product line includes three major categories, with several additional categories in various stages of development, consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide products to the building and home improvement communities that are innovative, of superior quality derived in part from enlightened creativity for our end users while enhancing performance, improving well-being and building high brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.
The stock has been absolutely destroyed over the last year. TBLT stock trades with a market cap of $5.6M but the company did $16.6M in sales last year! This makes the P/S ratio a smoking hot 0.34. Institutional ownership has increased by 16% over the previous 3-month period.
The company has a great brand name that really symbolizes quality made, but where it’s lacking is in its product offerings. ToughBuilt Industries needs to work on expanding its product line of tools for the maintenance industry IMO. I think the company knows this.
In November 2018, ToughBuilt completed its Initial Public Offering and started trading on the NASDAQ Capital Market under the ticker symbol “TBLT.” The CEO said at the time, “We raised $13.35 million which will go towards sales and marketing, developing new products, increasing production capacity, and for general corporate purposes.”
TBLT stock does not meet the stringent requirements for inclusion in the GST Portfolio but it is a dark-horse penny stock you may want to keep your eyes on.