“Our revenue in the first quarter was right around $3 million, and we are on track to do at least $12 million this year. We are focusing on both profitability and scalability,” he said.
The pandemic is likely to drive demand for WiSA products: Brett Moyer
Loyal customer base
Ladin stated that the USP of the firm is its Thursday Night Auction, where inventory is regularly refreshed so that buyers are not constantly looking at the same items. The management claims that 55%-60% of its total customer base is accounted for by repeat buyers.
The CEO said the firm has built credibility for itself over the years – thanks to the almost cent percent feedback rating on eBay – that customers are willing to buy high-ticket items from the store. Last year, the company reportedly sold a diamond for $80,000 to a customer.
Speaking on its markets, Ladin said eBay allows the firm to be a global platform, and approximately 15% of its items are shipped to international locations. “eBay is going to be our main revenue stream. But we are planning on growing into some newer markets with different platforms, and expand our revenue stream in whichever way possible,” he added.
RESAAS: An under-the-radar technology firm with global ops and partnerships
Growth opportunity
SFLMaven pins its hopes for further growth on the robust CAGR of both jewelry and e-commerce sales. While the global jewelry market is estimated to grow at a compounded annual rate of 3.7% over the next few years, e-commerce is projected to grow at a pace of 14.7%. Given the relatively small size of the firm, SFLMaven offers plenty of upside potential if it manages to deliver on the expansion promise.
The company had a market cap of $8.4 million and a float size of 75.5 million as of April 16, 2021.
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