{"id":1203,"date":"2019-08-15T18:02:29","date_gmt":"2019-08-15T18:02:29","guid":{"rendered":"https:\/\/www.medicalmarijuanainc.com\/?p=590014"},"modified":"2019-08-15T18:02:29","modified_gmt":"2019-08-15T18:02:29","slug":"medical-marijuana-inc-celebrates-record-company-success-in-q2","status":"publish","type":"post","link":"https:\/\/medicalmarijuanainc.com\/2019\/08\/15\/medical-marijuana-inc-celebrates-record-company-success-in-q2\/","title":{"rendered":"Medical Marijuana, Inc. Celebrates Record Company Success in Q2"},"content":{"rendered":"<h3><i><span style=\"font-weight: 400;\">Highlights of Medical Marijuana, Inc.\u2019s achievements include year over year Q2 revenue growth from 2018 to 2019 of 30% and 13 out of 14 quarters of sequential revenue growth.<\/span><\/i><\/h3>\n<p><span style=\"font-weight: 400;\">Medical Marijuana, Inc. continued our growth trend in Q2 of 2019 by increasing our sales revenue, while also reducing our operating costs. Our company earned record revenue of $20.7 million in the second quarter of 2019, a 30.8% increase over the same quarter in 2018. This second quarter sales growth reflects our company&#8217;s international and domestic expansion into all sales channels, including direct-to-consumer, wholesale, and direct selling distribution routes.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Medical Marijuana, Inc. Q2 Results<\/span><\/h2>\n<p><b>Gross Revenue<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2019 \u2013 $20.7 million<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2018 \u2013 $15.8 million<\/span><\/li>\n<\/ul>\n<p><b>Cost of Goods Sold<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2019 \u2013 $5.3 million, which represents 25.7% of sales<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2018 \u2013 $6.2 million, which represents 39.5% of sales<\/span><\/li>\n<\/ul>\n<p><b>Gross Profit<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2019 \u2013 $15.3 million<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2018 \u2013 $9.6 million<\/span><\/li>\n<\/ul>\n<p><b>Gross Margin<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2019 \u2013 74.3%<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2018 \u2013 60.6%<\/span><\/li>\n<\/ul>\n<p><b>Sales &amp; Marketing Expense<\/b><span style=\"font-weight: 400;\"> (includes direct selling commissions):<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2019 \u2013 $10.9 million, which represents 53% of sales<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2018 \u2013 $8.2 million, which represents 52% of sales<\/span><\/li>\n<\/ul>\n<p><b>General &amp; Administrative Expense<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2019 \u2013 $3.5 million, which represents 16.9% of sales<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2018 \u2013 $3.4 million, which represents 21.6% of sales<\/span><\/li>\n<\/ul>\n<p><b>Net Ordinary Income\/(Loss)<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2019 \u2013 $.09 million<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2018 \u2013 ($2.0 million)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Keep reading for the biggest news from Medical Marijuana, Inc. and our portfolio of companies and investments that drove our success in Q2.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-590064\" src=\"https:\/\/www.medicalmarijuanainc.com\/wp-content\/uploads\/2019\/08\/2018-03-20-PHOTO-00000002.jpg\" alt=\"Top hemp CBD executive\" width=\"1200\" height=\"500\" \/><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">Medical Marijuana, Inc. CEO Speaks Before FDA<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Medical Marijuana, Inc. CEO Dr. Stuart Titus addressed the U.S. Food and Drug Administration (FDA) on Friday, May 31, during the agency\u2019s special public hearing to gather opinions on the regulation of cannabidiol (CBD).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The first-of-its-kind FDA Public Hearing on <\/span><a href=\"https:\/\/www.fda.gov\/news-events\/press-announcements\/statement-fda-commissioner-scott-gottlieb-md-new-steps-advance-agencys-continued-evaluation\"><span style=\"font-weight: 400;\">Scientific Data and Information about Products Containing Cannabis or Cannabis-Derived Compounds<\/span><\/a><span style=\"font-weight: 400;\"> was meant to collect information about cannabis and its non-intoxicating compound CBD. Following the <\/span><a href=\"https:\/\/news.medicalmarijuanainc.com\/trump-signs-farm-bill-legalizing-hemp\/\"><span style=\"font-weight: 400;\">passage of the 2018 Farm Bill<\/span><\/a><span style=\"font-weight: 400;\"> that clarified hemp CBD\u2019s legal status in December, U.S. regulators are now determining how to regulate the hemp-derived compound.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During his testimony, Dr. Titus encouraged FDA officials to recognize the sound scientific research on the natural benefits and safety of hemp-derived CBD products. He explained that American diets generally do not contain an adequate amount of cannabinoids like CBD, leaving most people deficient in support for a key system in our body.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cSpeaking publicly at this hearing was a historic step for our Company,\u201d said Medical Marijuana, Inc. CEO Dr. Stuart Titus of the chance to speak before the FDA. \u201cWe feel very fortunate that our voice in the industry was heard and that we were able to educate the FDA on how CBD supports our Endogenous Cannabinoid System (ECS).\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can learn more about this historic event <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/medical-marijuana-inc-ceo-shares-expertise-at-fdas-special-hearing-on-cbd\/\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Kannaway Premier Hemp Event\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Medical Marijuana, Inc. subsidiary Kannaway hosted its largest U.S. event ever in its hometown of San Diego. The <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/kannaway-named-as-one-of-the-top-100-direct-selling-companies-worldwide\/\"><span style=\"font-weight: 400;\">Believe National Convention<\/span><\/a><span style=\"font-weight: 400;\"> was held from April 13-14. The event brought together the company\u2019s international network of thousands of brand ambassadors to experience the latest from Kannaway. At the event, attendees heard from the company\u2019s executive team and top performing brand ambassadors, were the first to see the company\u2019s latest product launches, and recognized the achievements of their fellow brand ambassadors.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Attendees also heard from star athletes like 6 time NFL Pro Bowler Eric Dickerson and from representatives of ECHO Connection, the charitable partner of the Medical Marijuana, Inc. family of companies.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-590017\" src=\"https:\/\/www.medicalmarijuanainc.com\/wp-content\/uploads\/2019\/08\/CBDSuncreenLaunch_1200x500_2-1.jpg\" alt=\"CBD sunscreen\" width=\"1200\" height=\"500\" \/><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">New Product Launches<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In Q2 of this year, our portfolio of companies released over a dozen new products to our line of hemp and CBD brands, further expanding the reach of our CBD oil and providing functional CBD products for consumers around the world.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In April, our subsidiary HempMeds\u00ae launched its <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/hempmeds-launches-new-cbd-infused-personal-care-line-at-natural-products-expo\/\"><span style=\"font-weight: 400;\">new Personal Care Line<\/span><\/a><span style=\"font-weight: 400;\"> of hemp oil products at the Natural Products Expo West, the nation\u2019s premier natural, organic, and healthy products event. A line of hemp oil bath and body products, the HempMeds\u00ae Personal Care Line lets consumers take advantage of the benefits of hemp and CBD for their skin and hair. This product line was originally launched with a\u00a0 <\/span><a href=\"https:\/\/shop.medicalmarijuanainc.com\/hempmeds-nourishing-hemp-shampoo\"><span style=\"font-weight: 400;\">shampoo<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/shop.medicalmarijuanainc.com\/hempmeds-nourishing-hemp-conditioner\"><span style=\"font-weight: 400;\">conditioner<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/shop.medicalmarijuanainc.com\/hempmeds-revitalizing-body-wash\"><span style=\"font-weight: 400;\">body wash<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/shop.medicalmarijuanainc.com\/hempmeds-hydrating-soothing-body-lotion\"><span style=\"font-weight: 400;\">body lotion<\/span><\/a><span style=\"font-weight: 400;\">, with more products on the horizon.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company also launched its new <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/hempmeds-debuts-everyday-wellness-cbd-line-to-consumers-at-new-york-event\/\"><span style=\"font-weight: 400;\">Everyday Wellness<\/span><\/a><span style=\"font-weight: 400;\"> line at the Sixth Annual Cannabis World Congress &amp; Wellness Expo, held from May 30-June 1. The products in this line were specifically formulated to blend the benefits of CBD hemp oil with those of natural ingredients like peppermint, chamomile, and turmeric to support everyday wellbeing. Everyday Wellness products include Digestive Support, Sleep Support, and Immune Support, all featuring our full-spectrum CBD. There is also daily Multivitamin Gummies formulated with over 99% pure CBD isolate and natural mango flavor.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can shop the <\/span><a href=\"https:\/\/shop.medicalmarijuanainc.com\/hempmeds\"><span style=\"font-weight: 400;\">HempMeds\u00ae brand<\/span><\/a><span style=\"font-weight: 400;\"> now in the Medical Marijuana, Inc. store.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Later that same month, Kannaway launched four new product groups at its Believe National Convention. The company revealed its newly revamped Cannabis Beauty Defined anti-aging skincare line, new CBD-infused cat treats, CBD gum, and single serve CBD-infused coffee and tea pods. These products, like all Kannaway products, are sold exclusively through the company\u2019s team of brand ambassadors.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To end the quarter, Medical Marijuana, Inc. brand Dixie Botanicals\u00ae <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/original-hemp-cbd-brand-dixie-botanicals-adds-cbd-sunscreen-to-its-line-of-hemp-oil-products\/\"><span style=\"font-weight: 400;\">introduced its new CBD-infused sunscreen<\/span><\/a><span style=\"font-weight: 400;\"> to consumers. <\/span><a href=\"https:\/\/shop.medicalmarijuanainc.com\/dixie-botanicalsr-surface-cbd-infused-spf50-sunscreen\"><span style=\"font-weight: 400;\">Dixie Botanicals\u00ae + Surface\u00ae CBD-Infused SPF 50 Sheer Touch Sunscreen<\/span><\/a><span style=\"font-weight: 400;\"> was developed through a partnership with <\/span><a href=\"https:\/\/surfacecorp.com\/\"><span style=\"font-weight: 400;\">Surface\u00ae<\/span><\/a><span style=\"font-weight: 400;\">, Southern California makers of top quality sunscreen and after sun care, to create a long lasting, water-resistant sunscreen that also supports overall skin health.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our new CBD sunscreen is made with 99% pure CBD isolate, refined from our top quality hemp oil, infused with Surface\u00ae\u2019s unbeatable Sheer Touch SPF 50 sunscreen. Each 4 ounce bottle contains a total of 100 mg of CBD that, when applied, is absorbed by the skin to interact with cannabinoid receptors there, helping to restore healthy looking skin. This CBD sunscreen offers UVA\/UVB broad spectrum sun protection and defense against damage caused by free radicals and environmental exposure, and relief from the effects of the sun\u2019s rays.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-590025\" src=\"https:\/\/www.medicalmarijuanainc.com\/wp-content\/uploads\/2019\/08\/MJNA_1200x500_1-1.jpg\" alt=\"CBD oil research\" width=\"1200\" height=\"500\" \/><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">Cannabinoid Research<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Our family of companies were also active in conducting and supporting research into cannabinoids during Q2 of this year, working to better understand how cannabinoids like CBD can be utilized.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">AXIM\u00ae Biotechnologies signed an agreement in April to <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/axim-biotechnologies-to-begin-clinical-studies-on-thc-and-cbd-chewing-gum-treatments\/\"><span style=\"font-weight: 400;\">begin research on a pair of new drugs<\/span><\/a><span style=\"font-weight: 400;\">. Both products are chewing gums containing cannabinoids and utilize the company\u2019s patented chewing gum delivery mechanism. CanChew\u00ae Rx is formulated with cannabidiol (CBD); MedChew\u00ae with Dronabinol makes use of synthetic THC. CanChew\u00ae Rx is being developed for symptoms associated with drug-related psychosis. MedChew\u00ae intended for treatment of chemotherapy-induced nausea and vomiting in cancer and AIDS patients.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company also took steps in Q2 to <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/axim-biotechnologies-takes-steps-toward-patenting-cbd-based-migraine-treatment\/\"><span style=\"font-weight: 400;\">patent a new cannabinoid based treatment for migraines<\/span><\/a><span style=\"font-weight: 400;\">. The provisional patent application is for a patent on a chewing gum composition comprising of cannabinoids and parthenolide (feverfew extract).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">AXIM\u00ae Biotechnologies has already built a strong intellectual property portfolio with 5 issued patents, 12 pending patents, and 28 trademarks. The company is looking to expand on this IP portfolio with additional new drugs and consumer products formulated with cannabinoids, including this cannabinoid-based treatment for migraine symptoms.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Medical Marijuana, Inc. family of companies also helped to financially support important medical research into cannabinoids. <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/hempmeds\/\"><span style=\"font-weight: 400;\">HempMeds\u00ae<\/span><\/a><span style=\"font-weight: 400;\"> sponsored the <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/hempmeds-and-echo-connection-to-sponsor-gala-event-supporting-neurological-research\/\"><span style=\"font-weight: 400;\">Harper\u2019s Heroes First Annual Gala<\/span><\/a><span style=\"font-weight: 400;\"> in Dallas, Texas, on April 27. The Hope4Harper Foundation is hosting this inaugural event to raise awareness for CDKL5 and fundraise for neurological research to help prevent and treat conditions like CDKL5.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the past 7 years, the family hosted the <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/hempmeds-participate-6th-annual-run4hope-platinum-sponsor\/\"><span style=\"font-weight: 400;\">Run4Hope Festival and 5K<\/span><\/a><span style=\"font-weight: 400;\"> charity run in their hometown. HempMeds\u00ae was a perennial sponsor of these yearly events, helping the organization reach its fundraising goals. This year, Hope4Harper instead hosted the Harper\u2019s Heroes First Annual Gala, featuring speakers like researchers from The Jensen Lab at Penn Medicine and the University of California San Diego Salk Institute Muotri Lab who shared how donations to Hope4Harper help further neurological research.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-590022\" src=\"https:\/\/www.medicalmarijuanainc.com\/wp-content\/uploads\/2019\/08\/MJNA_HM-Brasil-About-Us-Headers_7-2-19_5_-1.jpg\" alt=\"CBD oil Brazil\" width=\"1024\" height=\"427\" \/><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">CBD Education from HempMeds\u00ae Brasil<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Subsidiary HempMeds\u00ae Brasil sponsored <\/span><a href=\"https:\/\/investors.medicalmarijuanainc.com\/medical-marijuana-inc-subsidiary-hempmeds-brasil-sponsors-international-autistic-week-in-ribeirao-preto-brazil\/\"><span style=\"font-weight: 400;\">TEAbraco 2019 International Autism Week<\/span><\/a><span style=\"font-weight: 400;\"> from April 1 to April 7 at the Iguatemi Mall in Ribeir\u00e3o Preto, Brazil.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to sponsoring the event, HempMeds\u00ae Brasil hosted an educational seminar on April 4th where attendees can learn about the medical cannabis market in Brazil, how CBD interacts with the body, and the global landscape of medical cannabis.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then on April 5, HempMeds\u00ae Brasil hosted a CBD workshop led by child psychiatrist Dr. Murielle Moura, who has a background in treating autism and other neurodevelopmental disorders, for researchers and doctors to learn about how CBD interacts with the brain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Later that same month, HempMeds\u00ae Brasil invited some of the countries top doctors and neurological specialists to their home offices in San Diego for a <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/hempmeds-brasil-invites-doctors-to-u-s-offices-for-educational-symposium\/\"><span style=\"font-weight: 400;\">3 day educational event<\/span><\/a><span style=\"font-weight: 400;\">. The attendees learned about the significant research taking place in San Diego for several conditions such as epilepsy and autism and were able to tour the Muotri Lab at the University of California San Diego\u2019s Department of Pediatrics, the <\/span><a href=\"https:\/\/www.teriinc.org\/\"><span style=\"font-weight: 400;\">TERI Campus of Life<\/span><\/a><span style=\"font-weight: 400;\">, and our production facilities. The doctors also learned how CBD can be used to the benefit of their patients.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Recognition<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Kannaway was honored as one of the top direct selling companies worldwide. Respected network marketing publication <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/kannaway-named-as-one-of-the-top-100-direct-selling-companies-worldwide\/\"><span style=\"font-weight: 400;\">Direct Selling News<\/span><\/a><span style=\"font-weight: 400;\"> announced its Global 100 list of top direct selling companies this week, and for the first time ever, our portfolio company Kannaway has been listed among the most successful direct selling companies in the world. The 2019 DSN Global 100 also marks the first time that companies in the CBD industry were included on the list, showing how CBD has grown into a mainstream market.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Learn More<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Get all the latest about Medical Marijuana, Inc. and our family of companies on our <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/latest-news\/\"><span style=\"font-weight: 400;\">news feed<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights of Medical Marijuana, Inc.\u2019s achievements include year over year Q2 revenue growth from 2018 to 2019 of 30% and 13 out of 14 quarters of sequential revenue growth. Medical Marijuana, Inc. continued our growth trend in Q2 of 2019 by increasing our sales revenue, while also reducing our operating costs. Our company earned record [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-1203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Medical Marijuana, Inc. 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