ToughBuilt Industries Announces $ 11.9 Million Full Year

ToughBuilt Industries Announces $ 11.9 Million Full Year

LAKE FOREST, Calif., January 10, 2022 (GLOBE NEWSWIRE) – ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TBLT; TBLTW), today announced that gross sales through Amazon.com increased 68.5% to approximately $ 11.9 million for the fiscal year ended Dec.31, 2021, from approximately $ 7.1 million for 2020 .

Michael Panosian, CEO of ToughBuilt, commented: “We closed 2021 with significant e-commerce demand driven by our easels, knee pads and bags. Amazon continues to positively contribute to ToughBuilt’s overall revenue growth and to strengthen our brand with global end users. Currently only our legacy products are available on Amazon, which have generated outstanding reviews to date. We believe that as new products become available on Amazon, we will see an increase in demand online. “

ABOUT TOUGHBUILT INDUSTRIES, INC.
ToughBuilt is a leading product designer, manufacturer and distributor with a focus on innovative products. Currently, we are focusing on tools and other accessories for the professional construction and DIY industries. We market and distribute various lines of home improvement and construction products for the DIY and professional markets under the TOUGHBUILT brand, within the global multi-billion 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 consists of three main categories, with several additional categories in various stages of development, including soft items and knee pads and sawhorses and work products. Our mission is to provide the building and home improvement communities with innovative, high-quality products, derived in part from enlightened creativity for our end users, while improving performance, well-being and brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.

FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements”. Such statements may be preceded by the words “intention”, “may”, “will”, “plans”, “expects”, “plans”, “projects”, “predicts”, “estimates”, “aims” , “Esteem”, “hopes”, “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company, and cannot be predicted or quantified and, by therefore, actual results may differ materially from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties associated with (i) the impact of the global COVID-19 pandemic and government actions on our business, (ii) disruptions in the supply chain. procurement, (iii) market acceptance of our new products, (iv) delays in introducing products into key markets, (v) an inability to obtain regulatory approvals for the ability to sell our products in certain markets, (vi) intense competition in the industry from much larger multinational corporations, (v) product liability claims, (vii) product malfunctions, (viii) our ability to limited manufacturing and our use of contractors for assistance, (ix) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (x) no be reliance on single-source suppliers for certain product components, (xi) the fact that we will need to raise additional capital to meet our business needs in the future and that this total capital increase can be costly, dilutive or difficult to obtain and (xii) the fact that we operate in multiple foreign jurisdictions, exposing us to exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and policies and economic instability in each jurisdiction. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements are set out in the documents filed by the company with the Securities and Exchange Commission (SEC), including the company’s annual report on the form 10-K and its quarterly reports. on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Relations Contact:
KCSA strategic communication
David Hanover
[email protected]

Source: ToughBuilt Industries, Inc

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