Taronis Technologies January 2019 preliminary sales up 468% year-over-year
Taronis Technologies announced its preliminary January sales figures. Total sales generated were $1.42M, which represents a 468% increase as compared to January 2018 sales of $0.25M. On a proforma basis, including the recent East Texas acquisition for the full month, January sales would have increased by 600% as compared to January 2018, to $1.75 million. The year-over-year increase was primarily attributable to the Company's expansion into the California, Texas and Louisiana markets through seven acquisitions completed over the past year. Scott Mahoney, CEO of Taronis, said, "We are successfully executing on our growth strategy." Mahoney continued, "We have increased our annualized revenues by over 700% in just over a year while also increasing our client base by over 1,000% to more than 30,000 active customers. We are now rapidly executing on our goal to become a top five player in the two best industrial gas markets in the US." Mr. Mahoney also addressed recent capital markets activities, commenting, "With our recent capital raise completed, we are now well funded for the foreseeable future, and are laser focused on organic growth of our existing operations. While we realize our recent financings have put significant pressure on the stock, we believe our current strategy and improved balance sheet will enable us to drive significant shareholder value going forward."