Mohawk Group (NASDAQ: MWK), a technology-enabled consumer products company that uses machine learning, natural language processing and data analytics to design, develop, market and sell products, has announced significant growth on multiple fronts with the release of its Q4 and full-year 2020 results. Some of the notable highlights, documented in an article about the company, include increases in the full-year and fourth-quarter net revenue by 62.3% and 61.9%, respectively. “The full-year net revenue grew to $185.7 million from $114.5 million in the full year 2019. The fourth-quarter net revenue grew to $41.5 million from $25.6 million in the fourth quarter of 2019.” Mohawk’s operating loss improved, as well. “Full-year operating loss of $(34.8) million improved from $(54.3) million in 2019.”
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About Mohawk Group Holdings Inc.
Mohawk Group is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon and Walmart. Mohawk has 12 owned and operated brands and sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high-caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics. For more information about the company, visit www.ir.MohawkGP.com.
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