reports
- Sean Conroy
Abacus Health Products - Strong 2019 growth
Abacus reported revenue of US$15.5m in 2019, up 81.8% year-on-year. CBD CLINIC sales were US$11.7m, up 39.6% compared to 2018, and CBDMEDIC sales were US$3.7m. CBDMEDIC sales for Q419 were US$1.5m, up 28.8% compared to Q319. Given the company's strong growth and topical product line, in March, CBD industry leader Charlotte's Web agreed to acquire the company in an all-share deal where Abacus shareholders will receive 0.85 of a common share of Charlotte's Web for each Abacus share held (C$5.58 pe...
- Sean Conroy
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 nat...
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