Kush Bottles Inc (OTCMKTS: KSHB) just reported financial results for its first fiscal quarter of 2019, for the period ended November 30, 2018. Revenue was up 186% Year-over-Year to $25.3 million. Revenue exceeded the previous quarterly high of approximately $20 million in the fourth fiscal quarter of 2018, representing a 26.5% increase.
Kush Bottles Inc (OTCMKTS: KSHB) is the parent company of innovative industry leaders such as Kush Supply Co., Kush Energy, The Hybrid Creative, and Koleto Innovations, which provide a range of services and products for a variety of industries including the regulated cannabis and CBD industries The Hybrid Creative, and Koleto Packaging Solutions. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 1 billion units and now regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The Company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market.
Kush is doing huge sales. the Company recently said it will report over $51 million in annual revenue for the fiscal year ended August 31st, 2018, representing an increase of approximately 171% compared with the fiscal year ended August 31st, 2017. The record setting revenue numbers demonstrate the continued rapid growth of the Company, following a series of initiatives to drive organic growth, as well as strategic M&A activity. These efforts have allowed the Company to expand its product portfolio and implement a more efficient distribution platform. The Company has been featured in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc.
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Earlier this year KSHB expanded into Canada when they launched Kush Supply Co., a new subsidiary based in Toronto, Ontario, with a national sales force leveraging the robust infrastructure of Kush Bottles’ current distribution platform. This new subsidiary will serve licensed producers, processors, retailers and distributors throughout Canada and will be led by Gordon Woolley, Vice President, and Mark Doerr, Regional Sales Director.
On January 8 KSHB reported financial results for its first fiscal quarter of 2019, for the period ended November 30, 2018. Revenue was up 186% Year-over-Year to $25.3 million. Revenue exceeded the previous quarterly high of approximately $20 million in the fourth fiscal quarter of 2018, representing a 26.5% increase.
Nick Kovacevich, Chairman and Chief Executive Officer, commented, “Coming off an exceptionally strong fiscal 2018, we continued to retain and grow our customer base, grow market share and drive sales across all our key markets in the first fiscal quarter of 2019. This drove record growth in the quarter, with revenues of $25.3 million, representing 186% growth, compared with approximately $8.8 million in the first fiscal quarter of 2018. This strong performance reflects the strength of our business model, which leverages our ecosystem of diverse business units and product categories to cross sell product classes, reinforce the sticky nature of our business and support stable revenue growth.
“Going forward, we continue to develop our transformed business model, investing in the growth and retention of our robust customer base, continuously adding new product and service offerings, and driving effective cross-selling opportunities across the business. New opportunities continue to rapidly emerge in the industry. With the recent signing of the 2018 Farm Bill into law on December 20th to legalize industrial hemp, we expect to see more large-scale production and sale of CBD oil and related products, fueling demand for our packaging, supplies and labeling solutions, as well as for our solvents and marketing and branding services. We also expect to see an increase in adult vaping of CBD, which is a major component of our business and a key driver behind our expanding customer base as vape sales attract new customers onto our sales platform. We are focused on building out a scalable, sustainable business and, as 2019 unfolds and new markets and geographies open up, we will continue to expand our presence as a primary supply chain partner to the industry,” concluded Mr. Kovacevich.
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Currently trading at a $513 million market valuation KSHB has a strong balance sheet with $3.5 million in the treasury as well as $10 million in inventory and small very manageable debt. The Company is emerging as a revenue powerhouse recently announcing it will report over $51 million in annual revenue for the fiscal year ended August 31st, 2018, representing an increase of approximately 171% compared to last year. Kush has also been very successful in getting its name into the media appearing in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc. KSHB has a attracted a fast growing shareholder base which has transformed KSHB into one of the top most traded stocks on the entire OTCBB. We will be updating on KSHB when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with KSHB.
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Disclosure: we hold no position in KSHB either long or short and we have not been compensated for this article.