Become A Featured Company

THC BioMed Reports Growing Revenue & Profitability

Ryan Allway

April 22nd, 2020

App, Exclusive, News, Top Story

Cannabis investors had already been shifting from “unproven potential” to “profitability” over the past several quarters prior to the global health crisis. With the COVID-19 outbreak, investors have fled previous investments to profitable companies that aren’t reliant on costly or dilutive funding to sustain their operations.

THC BioMed Intl Ltd. (CSE: THC) recently recorded its second consecutive quarter of profitability along with more than $1 million in revenue. This represents profits of $88,191 for the three months ended January 31, 2020. Investors looking for exposure to the cannabis industry may want to take a closer look at the stock as an alternative to companies with high cash burn rates and losses in operations.

Click Here To Receive Updates on THC BioMed

Growing Revenue & Outlook

THC BioMed generated more than $1 million in revenue during the first two quarters of fiscal year 2020 with an average selling price of $4.20 per gram to medical patients and recreational buyers, including the Ontario Cannabis Store and BCcannabisonline. During the second quarter alone, revenue rose 163% year-over-year to $1,246,625.

“Over the last year, we have completed and started using new grow rooms to increase our output,” said President & CEO John Miller. “Our focus on high-quality, indoor-grown cannabis at reasonable prices has made our cannabis a best seller.”

The company achieved several key operational milestones over the past six months:

Sales of THC Kiss began on April 10, 2020. The cannabis beverage can be purchased by THC BioMed’s medical patients via the company’s online store.
Pure Cannabis Sticks — or filtered, paper cylinder pre-rolls — went into automated production.
A new three-year lease was signed for a property adjacent to the company’s production facility, which will be used to free up space for more production.
Its Cannabis Act license was amended to include the production and sale of cannabis edibles, topicals and extracts, opening the door to new markets.

Management believes that these operational milestones pave the way for revenue growth over the coming quarters. In particular, the launch of Cannabis 3.0 products will expand the company’s addressable market, while the production efficiencies offered by Pure Cannabis Sticks boost bottom line performance.

Click Here To Receive Updates on THC BioMed

Sustainable Profitability

THC BioMed reported net income of $88,191, gross profit before fair value adjustments of $759,959, and adjusted EBITDA of $131,549 during the second quarter, representing its second consecutive quarter of profitability—a rarity among licensed producers that have historically experienced a high cash burn rate.

Second quarter net income was lower than the $688,925 reported during the first quarter on the surface, but gross profit before fair value adjustments and adjusted EBITDA were higher than first quarter levels of $295,480 and $890, respectively. These figures suggest that the actual bottom line performance has improved quarter over quarter.

“We are proud to have achieved our second consecutive profitable quarter,” added Mr. Miller. “Our financial statements for Q2 2020 reflect the improvements we have realized in all key indicators of economic progress.”

It’s worth noting that the average price of $4.20 per gram is lower than the average prices reported for other licensed producers, which makes the profitability even more significant, as margins are lower than the competition. If industry average prices trend lower, the company doesn’t have to cut its prices in order to remain competitive.

Looking Ahead

THC BioMed Intl Ltd. (CSE: THC) is one of the few profitable licensed producers in the industry, giving them an edge over other companies that are reliant on potentially dilutive future fundraising to stay alive.

Click Here To Receive Updates on THC BioMed

Click here to read the full feature: https://bit.ly/2V2r0Se

THC BioMed Contact:
CEO: John Miller
info@thcbiomed.com
844-842-6337

CFN Media Contact:

President Frank Lane
Flane@cannabisfn.com
206-369-7050

About CFN Media
CFN Enterprises Inc. (OTCQB: CNFN) is the owner and operator of CFN Media, the leading agency and digital financial media network dedicated to the legal cannabis, CBD & Psychedelic industries.

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/

 

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Network Partners

Follow Us on Social Media

LinkedIn

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading