WeedMD Reports Fiscal Year 2019 Financial Results and First Quarter 2020 Preliminary Revenue of $12 Million
- Net revenue of $20.8 million for 2019, up 162% from 2018, and Q4 revenue of $2.9 million, representing a 38% quarterly increase in Adult-Use and Medical sales
- Harvested 17,988 kgs in 2019, a 921% increase compared with 2018 as WeedMD’s indoor and outdoor cultivation exited 2019 fully licensed and operational to accelerate brand growth
- Preliminary unaudited Q1 2020 revenue of $12 million(1) includes first full quarter of contribution from Starseed Holdings Inc., strong growth from adult-use and medical channels, and significant outdoor biomass sale
- Completed acquisition of Starseed and executing on strategic plan driving revenue growth and operational synergies