With three consecutives months of revenue growth to start the year, Medical Marijuana, Inc. and our portfolios of companies recorded our most successful quarter yet.
The Medical Marijuana, Inc. family of companies is celebrating an incredible start to the year with unprecedented revenue in the first three quarters of 2018. Driving this success were efforts like the launch of new products, the hosting of national and international events, the opening of new international markets, and introducing a new subsidiary.
This hard work to begin 2018 translated into a revenue increase of more than 190 percent over Q1 2017. Medical Marijuana, Inc. revenues in Q1 2018 totaled more than $10.5 million. Our family of companies is looking to ride this swell of success through 2018 as we continue to capitalize on the booming hemp and CBD industries in the U.S. and worldwide.
“In Q1 2018, we had the best revenue quarter in the history of our Company,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We’re excited that, with the help of our investors, spokespeople and customers, we’ve experienced tremendous growth and the company is positioned well for continued explosive expansion.”
First Quarter 2018 Financial Results
Medical Marijuana, Inc. reported its largest single quarter revenue ever in Q1 2018, eclipsing revenue results from the same period of 2017. Our family of companies also increased our gross profit in Q1 year over year.
Gross Revenue: ($ in millions)
- Q1 2017 – $3.6
- Q1 2018 – $10.5
- Q1 2017 – $2.5
- Q1 2018 – $3.3
“This achievement showcases that Medical Marijuana, Inc. and its subsidiaries are flourishing in the fast-growing cannabis industry and will continue to be leaders in the CBD and hemp product markets,” said Medical Marijuana, Inc. COO Blake Schroeder. “Kannaway is one example of how the company’s operations are growing internationally and helping the company increase its consumer base rapidly.”
Medical Marijuana, Inc. subsidiary Kannaway saw the most revenue growth from Q1 2017 to Q1 2018. The company recorded Q1 2018 revenues of $7.5 million, increasing more than 325 percent. This year over year growth is part of a larger trend for Kannaway. The company has experienced over 40 times growth since April of 2016.
Kannaway started the year by hosting a trio of regional events in Orange County, Pittsburgh, and Phoenix. Kannaway events are important opportunities for Kannaway’s team of brand ambassadors to network, learn tips and tools for building a sustaining CBD and hemp lifestyle business, and hear first-hand the latest developments from the Kannaway executive team.
Medical Marijuana, Inc. retail branch HempMeds® had a busy Q1 of 2018, including opening a new international prescription CBD market in Paraguay, hosting educational events for doctors in Brazil, and participation in one of the largest annual cultural and educational events in the U.S.
First to Ship Prescription CBD Products to Patients in Paraguay
HempMeds® began the year with exciting international news. Two of the products from the Real Scientific Hemp Oil™ brand were approved as registered medicines by the government in Paraguay. CBD Isolate formulated RSHO-X™ and full-spectrum RSHO™ Blue Label CBD oils are now available through pharmaceutical and medical distribution channels throughout the country, increasing patients’ ability to access these products.
Paraguay’s official registration of Medical Marijuana, Inc.’s CBD hemp oil products marks the first time a country has registered our products as medicinal products. This registration of our products opens the opportunity for pharmacies and healthcare providers in Paraguay to distribute cannabis products to patients, increasing the reach of our CBD oil products.
Stephen Jones named HempMeds® President
Stephen Jones was promoted within the Medical Marijuana, Inc. executive team to take on the additional role of President of HempMeds®. Jones originally joined Medical Marijuana, Inc. in September 2017 as Chief Marketing Officer, bringing nearly two decades of experience in direct sales, finance, and international logistics to the company and its subsidiaries. In his new role as President of HempMeds®, Jones will manage the company’s daily operations, focusing on continued domestic growth and further international market expansion.
HempMeds® Participates in South By Southwest (SXSW)
Medical Marijuana, Inc. subsidiary HempMeds® traveled to Texas to exhibit its bestselling line of CBD oil products at last weekend’s South by Southwest (SXSW) Wellness Expo. The inaugural Wellness Expo was held in Austin on March 10-11 as part of the massive yearly SXSW event.
This is the first time the event has ever hosted an exhibition focused solely on the mind, body, and spirit. As a Company of Firsts®, it was important that Medical Marijuana, Inc. participate in the first ever SXSW Wellness Expo through its portfolio company HempMeds®.
Almost half a million people attend SXSW each year. This large and diverse attendance presented HempMeds® an immense opportunity to spread awareness for CBD among those interested in maintaining their personal wellness.
Attendees at the event gathered in numbers around the HempMeds® booth on the expo floor. There attendees were able to sample the HempMeds® line of CBD oil products, save big on our top products, and get answers to any questions they had about hemp, CBD, and the many wellness benefits provided by CBD oil products.
HempMeds® Brasil Hosts Educational Tour
HempMeds® Brasil successfully hosted a trio of cannabis symposiums in the Rio Grande do Sul region of Brazil from March 19-23 and was held in the cities of Canoas, Passo Fundo, and Porto Alegre.
The goal behind these events was to share scientific information about CBD with practicing doctors, to strengthen ties with the medical community in Brazil, and to disperse an understanding of the benefits of CBD to Brazil’s population through the country’s medical community. The three day educational tour stopped at hospitals and universities in the region to share this critical information with the medical communities in Brazil.
Dr. Stuart Titus, CEO of Medical Marijuana, Inc., also spoke at each of these events as a representative for the Medical Marijuana, Inc. family of companies. He shared his experience and extensive knowledge about the physiological role and benefits of CBD and discussed upcoming potential research opportunities in Brazil and the importance of clinical research in order to better understand CBD’s potential.
Medical Marijuana, Inc.
Medical Marijuana, Inc. also made significant moves in Q1 to help boost our overall revenue, including the launch of our new hemp and CBD pet product company Phyto Animal Health and the introduction of new flavors to our popular CBD-infused energy chews Dixie Botanicals® Kicks.
Launched Phyto Animal Health
Medical Marijuana, Inc is pleased to welcome our newest subsidiary to our family of companies. Phyto Animal Health brings the beneficial properties of hemp to pet owners with a line of CBD products for livestock and pets and hemp litter and bedding designed specifically for animals. With nearly $70 billion spent on pets each year in the United States and the booming popularity of CBD health and wellness products, we are excited to have Phyto Animal Health forge a path into this new market.
Launched New Dixie Botanicals® Kicks Flavors
Dixie Botanicals® Kicks take advantage of the balancing, restorative effects of CBD, infusing this important compound into every bite-sized Kick, along with energy boosting B vitamins. Medical Marijuana, Inc. has added two new flavors and a new formulation to their Dixie Botanicals® Kicks energy chews, increasing the versatility of the Kicks line.In addition to the Dixie Botanicals® original chocolate Kicks, Medical Marijuana, Inc. has added two delicious new flavors – sour apple and mango citrus. These fruity new flavor options give our customers more choice than ever before when looking for a Kick of energy anytime throughout the day.
Every bite-sized sour apple Kicks energy chew is enriched with 99 percent pure CBD and 100 mg of caffeine, about as much as a strong as a cup of coffee. The Kick’s controlled release of caffeine provides sustainable energy without the crash or extra sugar and calories that come with energy drinks and coffee beverages. For those looking to avoid caffeine in their energy product, Dixie Botanicals® citrus mango energy chews provide energy through 60 mcg of Vitamin D3 instead.
International Media Coverage
The Q1 achievements of Medical Marijuana, Inc. and our portfolio of companies were covered by numerous national and international media outlets, including the following:
- US News & World Report
- CBS News
- American Veterinarian
- Fox 5 Las Vegas
- Fox 7 Austin
- Washington Post
- Chicago Tribune
- And more.
Keep Up with the Medical Marijuana, Inc. Family of Companies
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