(This story has been updated with comments from KushCo CEO Nick Kovacevich.)
KushCo Holdings, a California-based provider of ancillary products and services for the cannabis industry, on Tuesday reported revenues of $41.5 million for its fiscal third quarter, a 221.5% jump from $12.9 million in the same period a year ago.
Net losses for the quarter, which ended May 31, were $10.6 million compared with $9.2 million in the third quarter of 2018.
For the first nine months of fiscal 2019, sales soared 217.5% to $101.9 million from $32.1 million in the same period a year ago. Net losses in the period totaled $28.1 million compared with $21.2 million in 2018.
“In light of these listings, we remain confident our company will be listed in the near future,” he said during a conference call.
He also gave revenue guidance of $145 million-$150 million for all of fiscal 2019.
More details on the third-quarter results can be found in this news release.
Written by Nick Thomas
Marijuana Business Daily