Bulbs.com Q3 Earnings: YTD Profits Up Significantly

BOSTONOct. 18, 2021 /PRNewswire/ — Bulbs.com has continued a successful campaign through the first three quarters of 2021. As businesses across the United States began to bounce back from a disruptive past year, Bulbs.com was able to assist commercial customers with sanitizing equipment, air purifier and ventilation products, and large lighting upgrades – many of which included instant rebates thanks to the partnerships Bulbs.com has with several utility programs across the country.

After posting Q1 sales of $5.7 million, which was up 17% over prior year, Bulbs.com was able to maintain that pace steadily through Q2 yielding $5.2 million and $6.3 million in Q3. YTD profits were up significantly, tracking at a 3x pace versus prior year. The company’s success through the first three quarters can be attributed to the cohesive guidance of the leadership team, along with the hard work and dedication of the group that they lead. “The entire team has been firing on all cylinders, and the focus and synergy across the company is paying off.” said Mike Connors, CEO of Bulbs.com.

Another major contributor to the year-to-date success is the $5.1 million dollars in highly profitable sales that were transacted through the company’s utility rebate program. Bulbs.com works nationally with more than 30 utility programs including Duke Energy, MassSave, conEdison and PSE&G Energy. Sales that include utility incentives are beneficial to both the electric companies and the Bulbs.com commercial customers. Bulbs.com set a company record last year with $2.7 million in rebated sales, and the entire organization is extremely proud to have nearly doubled that number in the first three quarters of 2021.

Bulbs.com is poised to finish the year strong in Q4 with several large commercial lighting projects in the works, many increases in utility rebate program incentives to close out the year, and a couple of exciting new product categories that will be added soon to further improve the company’s offering to commercial and residential customers.

About Bulbs.com:

Bulbs.com is headquartered in Worcester, MA and is a leading online supplier of LED lighting products. Established in August 1999, Bulbs.com provides lighting products to over 200,000 commercial customers operating across 300,000 global locations in the hospitality, retail, property management, healthcare, manufacturing, government, education, industrial and municipal sectors. For more information visit bulbs.com.

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