Abacus Health Products (CSE:ABCS,OTCQX:ABAHF) reported its financial results on Thursday (November 21) for the third quarter ended September 30, 2019.
As quoted in the press release:
Q3 2019 Financial Summary
- Revenue increased 97.4% YoY to $4.1 million and sequentially 26.4% from Q2 2019
- Gross profit increased 100% YoY to $2.4 million and sequentially 24.0% from Q2 2019
- Gross margin increased YoY to 60.1% from 59.3%
Third Quarter and Recent Operational Highlights
- CBD CLINIC™ revenue increased 42.7% YoY, from $2.0 million to $2.9 million with sequential growth of 18.2% from Q2 2019. Total number of health care practitioners in the CBD CLINIC network grew from 12,000 to 14,500.
- CBDMEDIC™ revenue increased 71.9% to $1.2 million from Q2 2019. Purchase orders received to date represent over 7,000 retail locations, more than doubling from the 3,000 locations in Q2.
- CBDMEDIC will now be carried by the 3 largest U.S. national retail pharmacy chains, collectively representing over 22,000 locations across America.
- CBDMEDIC brand continues to generate the highest revenue per store per month in the largest US pharmacy chain in stores where it is carried compared to other CBD brands.
- Abacus partnered with Gillette Stadium and Patriot Place to further leverage its previously announced partnership with Rob Gronkowski (Gronk), three-time football world champion, to promote the CBDMEDIC brand.
Both locations expand access to the state’s widest-ranging inventory of medical cannabis products for Central Florida patients
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of two brand-new Central Florida dispensaries. The new Clearwater and Tampa locations mark the Company’s 81 st and 82 nd nationwide, respectively, widening patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.
Philip Young, CEO and Director of Lobe, stated, “We are honored to welcome Bart to our Advisory Board. His first-hand experience on and off the field are tremendously valuable as we continue our research involving mild traumatic brain injuries and PTSD. These issues are prevalent in contact sports and we believe that athletes will play a prominent role in the continued acceptance of psychedelic medicines as legitimate treatment. We look forward to working with Bart as we seek to forge long-term strategic relationships.”
HempFusion Wellness Submits Novel Foods Dossier to the United Kingdom’s Regulatory Food Safety Agency
HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that it has submitted its dossier to the United Kingdom’s Regulatory Food Safety Agency (the “FSA”).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210303005322/en/