Tennis Innovator Slinger Bag Announces Q3 Results

3/23, 1:30 PM (Source: GlobeNewswire)

Slinger Bag’s revolutionary sports technology continues to drive significant growth and take the tennis world by storm

Baltimore, March 23, 2021 (GLOBE NEWSWIRE) -- Slinger Bag (OTCQB: SLBG), a sports tech brand launched in 2020 and focused on innovating game improvement equipment for all ball sports with an initial focus on the global tennis market, has today announced strong financial results for its third quarter. These impressive results underline both Slinger Bag’s position as the much sought after addition to the global tennis market and the amazing progress that this part-crowdfunded start-up has made in the nine months since it commenced its presale deliveries of its Slinger Bag ball launcher in July 2020.

The latest results detail that in the reporting period of November 2020 to January 2021, Slinger Bag generated US$4.1Million in total revenues, (an increase of 24% on Q2 sales of $3.3M). The Company’s total revenues for its financial year-to-date are now at US$7.3Million, with no comparative sales for the previous year. Slinger Bag has shipped approximately 15,000 units to date through its direct to consumer channel and its global distribution partners.

The company has also reported the achievement of a number of significant milestones in Q3, including an uplisting onto the OTCQB Venture Market; entering three new international markets (the company is now sold in close to 50 territories worldwide across six continents); signing a major strategic partnership in North America with Wilson Sporting Goods; cementing a long term strategic partnership with the prestigious Peter Burwash International Group and signing tennis icon and former #2 world ranked player and Olympic silver medalist, Tommy Haas as its latest global brand ambassador.

“Despite the impact of the global pandemic, Slinger Bag has enjoyed strong, sustained growth, and is recognized as a game-changing product in the global tennis market. We are excited by the progress we have made in such a short amount of time and are grateful for the support we have received from our consumers and shareholders alike”, said Mike Ballardie, CEO of Slinger Bag. “All signs point to continued growth for Slinger Bag as we open up new distribution markets for our Tennis Launcher and begin to market new launchers to Pickleball, Padel and Soft Tennis consumers. As a company we are enabling mutually beneficial strategic alliances with iconic tennis brands such as Wilson and Dunlop, and across the globe we are attracting the best-in-class, market-leading distribution companies. I am particularly excited by the opportunity to work with tennis federations, governing bodies and other partners, such as recently agreed with the LTA in the UK, to develop grassroots relationships and initiatives to drive excitement and participation in the game of tennis around the world. I am also particularly proud to have Tommy Haas, Mike & Bob Bryan and Nick Bollettieri on our Slinger Bag team as we work to further build out our high profile global ambassador team over the coming months. Over the past year, as evidenced by the recent PAC report, tennis has enjoyed a resurgence in player numbers, in overall participation levels and in total play occasions making it a perfect time to be building a sports-tech, game improvement, consumer focused tennis brand”, concluded Ballardie.

Slinger Bag’s disruptive market impact on the global tennis ball machine market, and global avid tennis player community in general, is underlined by the widespread acclaim of its highly transportable, versatile and affordable tennis ball launcher.

Slinger Bag enables tennis enthusiasts to get out on court to play at any time without the need to find a playing partner - whether that be at their club, local park, on their driveways or in any other available open space. Slinger Bag is lightweight, wheeled like a trolley bag, and easily transported in the trunk of the smallest saloon or sedan car.

This proprietary design empowers players to set up and start launching balls within minutes, and to control both the launch speed and the frequency of the balls using two customizable dials. The angle of elevation can be varied to suit groundstrokes, lobs or even, in the Ball Boy mode, to practice serves. Slinger Bag is lightweight at 15kg/33 lbs. and multi-functional, holding racquets and other gear, 72 tennis balls, and has pockets for storing wallets, keys, towel and a water bottle and is eminently affordable.

The Slinger Bag is available to order now - to find out more about Slinger Bag, visit https://slingerbag.com.

ENDS

For Slinger Bag Investor Relations inquiries visit www.slingerbagir.com or contact investors@slingerbag.com or 443-407-7564

For Slinger Bag media enquiries in U.K, Europe and Australia contact the UK Press Office, Joe Murgatroyd, Press@slingerbag.com, at Brandnation, +44(0)207 940 7294

For Slinger Bag media enquiries in U.S & Canada contact the US Slinger Bag Press Office, Brenna Byrne at UpRoar PR, bbyrne@uproarpr.com 312-607-8117.

Slinger Bag Legal Counsel: Kalfa Law. Contact: shira@kalfalaw.com

About Slinger Bag®: Slinger® is a new sports brand focused on delivering innovative, game improvement technologies and equipment across all Ball Sport categories. With the vision to become a next-generation sports consumer products company, Slinger® enhances the skill and enjoyment levels of players of all ages and abilities. Slinger® is initially focused on building its brand within the global Tennis market, through its Slinger® Tennis Ball Launcher and Accessories. Slinger Bag® has underpinned its proof of concept with over $200M of retail value in global distribution agreements since the Spring of 2020. Led by CEO Mike Ballardie (former Prince CEO and Wilson EMEA racquet sports executive) Slinger® is now primed to continue to disrupt what are traditional global markets with its patented, highly transportable and affordable Slinger® Launcher.

Slinger Bag Disclaimer: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company's products and services, the ability to complete development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company's most recent periodic filings with the Securities and Exchange Commission, including its 2019 Annual Report on Form 10-K and quarterly reports on Form 10-Q.

Forward-Looking Statements: This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.

These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

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Slinger Bag (OTCQB: SLBG) Q3 Results
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