US e-cigarette company Kaival Group recently released a report stating that its revenue for the third quarter of the 2022 fiscal year was $3.8 million, up from $3.2 million for the same period last year. Its gross profit was $442,100, compared to a loss of $84,300 for the same period last year.
Kaval Group attributes a portion of its increased revenue to a court ruling in August that put on hold the Food and Drug Administration's (FDA) marketing denial order for the company's non-tobacco flavored Bidi Stick e-cigarette. The US appeals court found that the FDA did not adequately consider Kaval's marketing and access restrictions plan and ordered further review of the company's pre-market tobacco product application while allowing it to continue selling its product.
Eric Mose, President and Chief Operating Officer of Kewal Group, has announced that the company is partnering with Fimo International to sell their products in global markets.
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