Abacus Health Products - Strong Q3 sales
Abacus reported revenue of US$4.1m in Q319, up 97.4% year-on-year. Through the first nine months sales are up 99.3%. For the quarter, CBD CLINIC sales were US$2.9m, up 42.7% compared to Q318, and CBDMEDIC sales were US$1.2m, up 71.9% compared to Q219. We expect this high rate of growth for CBDMEDIC to continue as the brand can now be found in 4,600 retail locations (up from 3,000 last quarter) and will be in 7,000 as of January of 2020 thanks to the upcoming deployment in an additional major national retail pharmacy chain.
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