Medical Marijuana, Inc. announced financial results of $17.7 million in revenue for the quarter ended September 30, 2019, a decrease of 3 percent from Q3 2018.
“Medical Marijuana, Inc. and its subsidiaries are excited to continue operating as one of the hemp-based CBD industry pioneers,” said CEO Dr. Stuart Titus. “We are very confident in the continued growth of the global CBD market and encouraged by regulatory developments including the White House’s approval of the U.S. Department of Agriculture’s federal hemp production rules. In the future, we intend to continue scaling our operations to meet the high demands for products across the globe.”
The company announced year-to-date revenue of $58.6 million, a 30 percent increase over the same period in 2018. Other highlights from the quarter included:
- Subsidiary Kannaway® became a member of the European Industrial Hemp Association;
- Subsidiary HempMeds® launched its new CBD pet product line, Hemp for Pets;
- The company and Kannaway were honored with two Stevie® Award International Business Awards®;
- Subsidiary Kannaway entered a partnership with Endocanna Health to create and sell endocannabinoid DNA testing products;
- The company was listed as a Top 5 Company in the Hemp-Based CBD Market by equity research firm Avise Analytics, Ltd.;
- Subsidiary HempMeds Brasil® signed an agreement with major online marketplace Dr. Cannabis.
To read the full Medical Marijuana, Inc. Q3 report, click here.