SAN DIEGO, CA--(Marketwired - Jul 19, 2016) - Generation NEXT Franchise Brands announced today its 2016 Q4 booking results, ending fiscal 2016 with the highest month of bookings to date and showcasing a record year that saw both consistent growth, a strong Q4 finish and the launch of a new franchise concept; Reis & Irvy's.
Generation NEXT closed out Q4 with an impressive $3,281,000 in deferred revenues. Included within the quarter was the company's strongest month to date being June, which accounted for $1,900,000 in deferred sales. The solid growth came in part from the Fresh Healthy Vending and Micro Market brand concepts, but was fueled by the addition of the company's newest franchise entity, Reis & Irvy's Frozen Yogurt Robotic Kiosks in Q4. The point-of-purchase robotic frozen yogurt robots were launched April 11th and accounted for 92 units booked and the procurement of 27 new franchisees within the last fiscal quarter.
Generation NEXT is now focusing its efforts on the development of the Reis & Irvy's concept, while dedicating resources to continue growing, and maintain and support the already established Fresh Healthy Vending franchise business.
"Fiscal 2016 has come to a close and overall I am pleased with our performance and excited about the future of our Company," says Nick Yates, Chairman of Generation NEXT Franchise Brands. "The last twelve months saw us scale Fresh Healthy Vending to 246 Franchisees operating over 3,000 healthy vending machines and micro markets. We introduced Reis & Irvy's to overwhelming demand in May and have since sold 27 new franchises for over $3.2 million in deferred revenues. This includes $1.9 million in bookings for June 2016, representing our best month of sales as a public company. In addition, we have paid down $23,000 of debt and $79,000 of interest in Q4 and have negotiated the extension of a $600,000 note, which has a feature that allows it to be converted to equity by its maker. To conclude, we are slowly but surely eliminating debt from our books, bookings are growing, we've proven our new concept to be a success and we continue to work with our current Fresh Healthy Vending franchisees to grow their businesses."
