Matt Devlin's questions to UPEXI (UPXI) leadership • Q2 2023
Question
Matt Devlin, on behalf of ROTH Capital Partners, questioned the early sales progress of Tytan Tiles in Walmart stores and its impact on the 2023 outlook. He also inquired about the current M&A pipeline, including its size and prevailing valuation multiples.
Answer
CEO Allan Marshall stated that while no public data on in-store Walmart sales was available yet, strong online sales during Cyber Week were a positive sign. CFO Andrew Norstrud addressed the M&A environment, noting that valuations are normalizing and the company is targeting a 3.5x to 5x multiple. He emphasized that the immediate focus is on optimizing existing assets and improving margins, rather than actively pursuing new acquisitions unless a highly compelling opportunity arises.