Samsara Luggage Reports 700% Revenue Increase in 2023 Q1 Earnings
Samsara Luggage delivers solid first-quarter results due to continued sales in the luggage category and the expansion of its product line.
NEW YORK, May 17, 2023 /PRNewswire/ — Samsara Luggage, Inc. (“Samsara Luggage”, “Samsara” or the “Company”) (OTC: SAML), maker of innovative travel products, today announced its financial results for the quarter ending March 31, 2023. The Company reported a revenue increase of 700% compared to the same period last year. Samsara Luggage also reported a gross profit margin of 41.13% during the three-month period ending March 31, 2023, compared to 35.48% during the same period last year. The increase in revenue during the quarter was primarily driven by sales of smart luggage and Samsara’s newly launched STREET SMART collection of travel accessories.