KushCo Holdings, a publicly traded company that buys and sells many different types of products, has just released its financial results for Q3 of 2015. This report shows that their revenue was down slightly from Q3 of 2014, but still beat their estimates by a significant margin.
KushCo Holdings is a publicly traded company that produces, supplies, and sells marijuana-infused products and related accessories. It has a market capitalization of $135.3 million, approximately $1.7 million of which has been reported in its share prices over the last year.
KushCo Holdings reports preliminary results for Q3 2021
The company expects Q3 2021 revenue to increase 21% -26% year over year to CYPRESS, CA / ACCESSWIRE / June 15, 2021 / KushCo Holdings, Inc. (OTCQX: KSHB) (KushCo or the Company), a leader in the Ancillary Products and Services for the Legal Cannabis and CBD Industry, today announced preliminary and unaudited financial results for the third fiscal quarter ended May 31, 2021. KushCo expects preliminary and unaudited revenue of approximately $ 27.5 to 28.0 million for the third fiscal quarter of 2021, compared to approximately $ 22.3 million for the third fiscal quarter of 2020. The expected revenue increase of 21-26% was largely due to increased sales to the company’s top 25 customers, which include leading operators in various states, licensed manufacturers, and brands. Revenue from these top 25 customers is expected to grow more than 60% to at least $ 20.5 million in the third fiscal quarter of 2021, compared to $ 12.7 million in the same period of the last year. Preliminary results for the third quarter of fiscal show our continued success in attracting many of the industry’s elite customers, including top MSOs, LPs and leading brands.
Nick Kovacevic, Co-Founder, Chairman and CEO of KushCo
In fact, 24 of our top 25 customers bought similar products in the third quarter in the second fiscal quarter, albeit not in the same quantities as in the second quarter. added Kovacevic: While our business will continue to be volatile due to our concentrated customer base, we will continue to focus on keeping our elite customers and growing them for an extended period, not just a quarter. As a result, revenue from the top 25 customers is expected to grow more than 60% year over year in the third quarter of fiscal 2021. Not only do we increase sales with these customers, but we also improve the quality of the customers we serve, as we have many more real customers than we did a year ago. We have spent the last three years building this elite customer base and we are all the more excited about the prospect of cross-selling our own products to these and other customers as we are close to finalizing the merger with Greenlane . As a combined company, we have the potential to realize significant revenue synergies across our complementary customer bases, as well as significant cost synergies that can drive profitable growth in a booming industry that is still at an early stage of expansion. Cautious Statement on Preliminary Results The preliminary results described in this press release are preliminary and unaudited and are subject to change depending on the completion of the company’s normal quarterly end-of-quarter audit processes. As a result, these preliminary results may differ from the actual results that will be reflected in the Company’s condensed consolidated financial statements for the fiscal quarter ended May 31, 2021 when released. KushCo expects full financial results for the third fiscal quarter of 2021 to be released in early July 2021. The company will announce the date, time, and details of the conference call at least one week in advance. About KushCo Holdings KushCo Holdings, Inc. (OTCQX: KSHB) (www.kushco.com) is a leading provider of ancillary products and services to the legal cannabis and CBD industries. KushCo Holdings subsidiaries and brands provide quality products, exceptional customer service, regulatory knowledge and local presence while serving a diverse customer base comprised of leading Multi-State Operators (MSOs), Licensed Manufacturers (LPs) and brands. KushCo Holdings was founded in 2010 and has now sold over 1 billion units to growers, brand owners, processors and manufacturers across North America, South America and Europe. The company specializes in baby-compatible and fully customizable packaging, exclusive vape devices and technology, and complementary solvents and natural products. As an industry pioneer, KushCo continues to work to create a positive impact on the environment, community and society through CSR and ESG initiatives such as: E.g. the offer of environmentally friendly and compostable packaging; the donation of PPE to the first healthcare workers in the COVID-19 pandemic; partnering with organizations like Mission Green to deliver social justice programs in the industry; the fact that KushCo is among the first in the industry to offer paid time off to all employees on November 3, 2020 (For more information on KushCo’s commitment to CSR and ESG initiatives, please visit the company’s #KushCares page at www.kushco.com/kushcares/. KushCo has been featured in media across the country including CNBC, Fox News, Yahoo Finance, Cheddar, Los Angeles Times, TheStreet.com, Entrepreneur, Inc. Magazine. For more information, visit www.kushco.com/kushcares/. kushco.com or by calling (888) 920-5874 Important Investor and Shareholder Information In connection with the proposed merger, Greenlane has filed a registration statement on Form S-4 with the Securities and Exchange Commission (SEC), including a joint power of attorney Greenlane and KushCo, which is also Greenlane’s prospectus. The joint power of attorney will be sent or sent to the respective Greenlane and KushCo shareholders redistributed after the SEC renders the registration statement effective. Greenlane and KushCo also plan to file other relevant documents with the SEC regarding the proposed merger. INVESTORS ARE STRONGLY RECOMMENDED TO READ THE COMMON PROXY STATEMENT / PROSPECTUS AND OTHER RELEVANT DOCUMENTS SUBMITTED WITH THE SEC, IF AND WHEN AVAILABLE, AS IT WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders can obtain free copies of the registration document and joint proxy statement / prospectus (if and when available) and other relevant documents filed by Greenlane and KushCo with the SEC on the SEC’s website at www.sec.gov. Copies of the documents submitted by the companies will be made available free of charge on the respective websites www.gnln.com and www.kushco.com. Participants in the tender Greenlane, KushCo and their respective directors and officers may be considered participants in the proxy collection process in connection with the proposed transaction. Information regarding Greenlane’s directors and officers is included in the 2020 Annual General Meeting, filed with the SEC on April 24, 2020. Information about the directors and officers of KushCo is set out in a letter of intent to hold an annual general meeting in 2021, filed with the SEC on December 28, 2020. You can obtain these documents free of charge from the sources listed above. Additional information about the participants in the proxy solicitation and a description of their direct and indirect interests, through ownership of securities or otherwise, will be included in the joint proxy statement / prospectus and other relevant materials that will be filed with the SEC as soon as they are filed Are available. Not suggest and not pursue Данное сообщение не предназначено и не является предложением о продаже или ходатайством о предложении о продаже или ходатайством о предложении о покупке каких-либо ценных бумаг или ходатайством о голосовании за одобрение, а также не может быть осуществлена продажа ценных бумаг в любой юрисдикции, в которой такое предложение, ходатайство или продажа были бы незаконными до регистрации или квалификации в соответствии с законодательством о ценных бумагах любой такой юрисдикции. Никакое предложение ценных бумаг не может быть сделано иначе как посредством проспекта, отвечающего требованиям Раздела 10 Закона о ценных бумагах от 1933 года, с поправками. Оригинальный пресс-релиз Для получения информации о KushCo Holdings, основанной на фактах, юсанистистим паносмотрите. Опередите толпу, подписавшись на 420 Investor, крупнейший и наиболее полный сервис премиум-подписавшись нанейски сервис подписавшись понйски для 2013. New Cannabis Ventures is committed to collecting high quality content and information on top cannabis companies to help our readers filter out noise and stay on top of the most important news in the cannabis business. Do you have confidential information? Contact us.