Attributes 707% Revenue Growth to the Performance of its Artificial Intelligence-Driven
E-Commerce Platform and Agile Supply ChainNEW YORK, Nov. 20, 2019 (GLOBE NEWSWIRE) — Mohawk Group Holdings, Inc. (NASDAQ: MWK) (“Mohawk”) the tech-enabled, consumer-focused product company, today announced it ranked 163 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing —public and private— technology, media, telecommunications, life sciences and energy tech companies in North America. The ranking is now in its 25th year and award winners for 2019 are selected based on percentage fiscal year revenue growth during the period from 2015 to 2018. During this period, Mohawk’s revenues grew 707%.Mohawk’s chief executive officer, Yaniv Sarig, credits the company’s AI driven e-commerce software platform and its agile supply chain for the 707% revenue growth. He said, “I am very pleased with the development of AIMEE, our software platform, and our agile supply chain, as they have been critical in helping us build the CPG company of the future.”Overall, 2019 Technology Fast 500TM companies achieved revenue growth ranging from 166% to 37,458% from 2015 to 2018, with median growth of 439%.About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2015 to 2018. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.Media Contact
Stacey Sullivan
ICR
203-682-8200
[email protected] Investor Contacts:
Ilya Grozovsky, Mohawk Group
[email protected]
917-905-1699Brendon Frey, ICR
[email protected]
203-682-8200
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