Geometry Dash APK Hill Climb Racing APK
36.8 F
New York
Friday, December 9, 2022

KushCo Holdings Inc (OTCMKTS:KSHB) Knocks it Out of the Park Again

Must read

HUMBL Inc (OTCMKTS:TSNPD) On the Rebound as Investors Track Developments

If there is one stock that has captured the imagination of many investors over the past months, then it's that of HUMBL...

Healthier Choices Management (OTCMKTS:HCMC) Falls Following WallStreetBets Hype

Investing in stocks that are gaining momentum is often regarded as a sound investment and more often than not it works out...

Enzolytics Inc (OTCMKTS:ENZC) In Focus: Regains It’s Momentum

One of the most notable gainers over the course of the past months has been the Enzolytics Inc stock. While it is...

Medmen Enterprises Inc (OTCMKTS:MMNFF) Pulls Back From Highs as Buzz Cools Off

Among the sectors which have bounced back in 2021, the cannabis sector is one of considerable interest since it had been in...

We have been fans of KushCo Holdings Inc (OTCMKTS:KSHB) for quite a while. The company consistently beats the market’s expectations for a pick and shovel in the cannabis space. To wit: KSHB just announced its Q1 financials for fiscal 2019. According to the release, 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. On a GAAP Basis, gross profits were equal to 12.8%, compared with 34.8% in the prior year period.

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.”

KushCo Holdings Inc (OTCMKTS:KSHB) is the parent company to a diverse group of business units that are transformative leaders in the cannabis, CBD and other related industries. KushCo Holdings’ subsidiaries and brands provide exceptional customer service, product quality, compliance knowledge and a local presence in serving its diverse customer base.

KushCo Holdings’ brands include Kush Bottles, a dynamic sales platform that is the nation’s largest and most respected distributor of packaging, supplies, and accessories, Kush Energy, which provides ultra-pure hydrocarbon gases and solvents to the cannabis and CBD sector, Hybrid Creative, a premier creative design agency for cannabis and non-cannabis ventures, and Koleto Packaging Solutions, the research and development arm driving intellectual property development and acquisitions.

Founded in 2010, KushCo Holdings has now sold more than 1 billion units and regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. KushCo Holdings subsidiaries maintain facilities in the five largest U.S. cannabis markets as well as having a local sales presence in every major U.S. cannabis market.

According to its materials, “KushCo Holdings, strives to be the industry leader for responsible and compliant products and services in the legal cannabis and CBD industry. The Company has been featured in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc.  While KushCo Holdings services all facets of the cannabis and CBD industries, it has no direct involvement with the cannabis plant or any products that contain THC or CBD.”

Find out when $KSHB reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, KSHB just announced its fiscal Q1 2019 financial data, with revenues up 186% year-over-year to $25.3 million. Traders will note 8% during the past week in terms of shareholder gains in the company. Moreover, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed a bit less than 110% over the long run average.

“While we are confident in the Company’s upward trajectory, we acknowledge the impact that our dramatic growth has had on our gross margins, in particular, the utilization of air freight and additional cost incurring quality control measures at our receiving warehouse to meet demand. We have implemented a number of strategic operational initiatives that will drive our gross margins back towards 30% as we scale the business, with improvements in margins expected in the second half of fiscal 2019. These efforts are centered on supply chain fortification including upgrading our China-based producers to support higher volumes. We are also improving operational processes through the rollout of a new Warehouse Management System, which will allow us to improve inventory accuracy, expand gross margins through a more efficient supply chain and support the overall scaling of our business. Furthermore, we are shifting toward a higher-margin product mix driven by new product launches to take place over 2019. We believe our product pipeline is strong and we can expect to see new customers expand into new product buckets which will also improve our margins,” continued Mr. Kovacevich.

Earning a current market cap value of $495.68M, KSHB has a significant war chest ($13.5M) of cash on the books, which stands against about $7.3M in total current liabilities. KSHB is pulling in trailing 12-month revenues of $52.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 131.1%. We will update the story again as soon as developments transpire. Sign-up for continuing coverage on shares of $KSHB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $KSHB, either long or short, and we have not been compensated for this article.

Latest article

Alibaba Group Holding Limited (OTCMKTS:BABAF) Big Volume with Possible 60% Upside

Alibaba Group Holding Limited (OTCMKTS:  BABAF) is an over the counter stock traded on the OTC Pink markets in the Consumer Discretionary...

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service