- Mohawk Group Holdings Inc. reported a 62.3% increase in its 2020 revenue compared to 2019
- It earned a revenue of $185.7 million, and its earnings guidance show that this figure will grow by a further 88% to 105% in 2021
- This growth is thanks to the company’s acquisition strategy, which has expanded its list of brands to eleven and it is still targeting more companies
- The acquisition strategy is, however, problematic in a few ways
Mohawk Group Holdings (NASDAQ: MWK) finished the financial year ended December 31, 2020, on a high note reporting $185.7 million in revenue, an increase of 62.3% or $71.3 million compared to a similar period in 2019, backed by an impressive fourth-quarter performance, which included improved profitability, strong growth in sales and revenue, and boosted guidance, as highlighted in a recent Motley Fool article titled “Mohawk Just Wrapped Up a Perfect 2020” (https://ibn.fm/fl95B).
This 62.3% revenue increase marked a consistent trend year-on-year for the two most recent reporting periods, given that it reported a growth in revenue of 56.2% in 2019 compared to 2018. Notably, this upward trajectory is likely to continue as its earnings guidance for…
NOTE TO INVESTORS: The latest news and updates relating to MWK are available in the company’s newsroom at https://ibn.fm/MWK
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