GPO Plus, Inc. (OTCQB: GPOX), a prominent distribution and manufacturing company specializing in consumer products for convenience stores, gas stations, and specialty retailers, has reported impressive Q2 financial results. The company’s gross revenue for the quarter ending October 31, 2023, reached a record $1.21 million, marking a substantial 25% increase from the previous quarter ending July 31, 2023, which reported $970,735 in gross revenues.
Key Highlights:
1. Quarterly Revenue Surge: GPOX achieved a remarkable 25% surge in top-line revenue, reaching $1.213 million in the second quarter, up from $970,735 in the preceding quarter.
2. Expansion of DSD Service: Approximately 154 stores received the new Direct Store Delivery (DSD) service with full product inventory by October 31, 2023. GPOX is on track to surpass the estimated 258 stores receiving the white glove DSD service by year-end, with an ambitious target of 475 stores expected to be online by May 2024.
3. Technological Advancements: GPOX Labs.ai, the technology division, has initiated the implementation of its proprietary MSRP software platform. This advanced technology incorporates AI mapping tools, live dispatch consoles, and comprehensive DSD inventory support, optimizing logistics and inventory management.
4. Strategic Partnership: GPOX Labs.ai has entered into a strategic partnership with an enterprise data exchange company to enhance Electronic Data Interchange (EDI). This collaboration aims to provide near-real-time inventory updates and advanced sales analytics, expected to go live this quarter.
About GPO Plus
GPO Plus (GPOX) operates as a product development, manufacturing, and distribution company, offering a diverse portfolio of high-quality innovative products directly to consumers and retailers. With a focus on product development, distribution, marketing, and sales, the company aims to expand its product line and distribution reach to meet market demand and customer needs.