On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

CannabisNewsBreaks – Plus Products Inc. (CSE: PLUS) Releases Q3 2018 Financial Results, Reports Record Revenue Growth of 617 Percent to $2.5M

Company: Plus Products Inc. (PLUS)
Category: News

Leading California edibles manufacturer Plus Products (CSE: PLUS) this morning announced its financial results for the three months ended September 30, 2018. The update provided Q3 2018 financial highlights, including: Record revenue of $2.56 million, reflecting a 617 percent increase over the three months ended September 30, 2017 and a 60 percent increase over Q2 2018; quarter-over-quarter retail sales growth of 104 percent to $8.0 million in Q3; gross margin of $0.38M (15 percent) for Q3 2018 compared to -$0.17M (-48 percent) in Q3 2017; strong cash position of $11.1 million at end of Q3, prior to closing of CAD$20 Million IPO on October 26, 2018.

“PLUS is a different kind of cannabis company,” PLUS CEO Jake Heimark stated in the news release. “100% of our revenue is from wholesale edible branded product sales. We believe branded edible market share is difficult to earn, yet is one of the most important metrics of long-term shareholder value. We are pleased that as measured by retail sales in Q3, the PLUS brand is now the leading edibles brand in the largest and most competitive cannabis market in the world, and we look forward to extending the brand beyond California in 2019.”

To view the full press release, visit http://cnw.fm/V1CmV

About Plus Products

Plus Products is a branded products manufacturer based in California. Its products consist of cannabis-infused edibles, which it sells to both the regulated medicinal and adult-use recreational markets. PLUS™ is currently one of the fastest-growing edible brands in California with several top-selling products. All products under the PLUS brand are made with high-quality ingredients and produced in the company’s dedicated 12,000-foot, food-safe cannabis manufacturing facility in Adelanto, California, staffed with chemists and food scientists. Plus Products received the eighth temporary manufacturing license in California. The company’s mission is to make cannabis safe and approachable — that starts with manufacturing high-quality products delivering consistent experiences. For more information, visit the company’s website at www.PlusProducts.com.

More from CannabisNewsBreaks

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
303.498.7722 Office

Contact us: 303.498.7722