$DIRV "46% growth in product gross profit to a record $1.7 million"
tock Market Press Illuminates Growing Acquisition Trend in the Cannabis Space, Increased Security Needs and DirectView Holdings Explosive Revenue Growth and Turnkey Surveillance Systems; Additional Companies Discussed Include Canopy Growth Corporation and Aurora Cannabis Inc.
ACCESSWIRE ACCESSWIREApril 17, 2019
NEW YORK, NY / ACCESSWIRE / April 17, 2019 / Stock Market Press (SMP) is excited about the huge growth in the cannabis industry seen in 2018 and Q1 2019. DirectView Holdings, Inc (OTC PINK: DIRV) released their 2018 year end financials yesterday, showing very strong growth across all business lines. The Cannabis market continues to see major growth and strategic acquisitions. In addition to the 2018 results posted here:
- 41% sales growth to a record $4.1 million
- 39% growth in product sales to a record $3.3 million
- 51% growth in services sales to a record $0.8 million
- 27% gross profit growth to a record $1.6 million
- 46% growth in product gross profit to a record $1.7 million
- 436 basis point gross profit margin decrease to 39.1%
- 111% increase in SG&A
DirectView Holdings, Inc (DIRV) recently exhibited at the 2019 Cannabis Conference, showcasing their turnkey surveillance systems and garnering a lot of attention and new client leads. Cannabis companies are required to meet strict security-surveillance guidelines. Enter DirectView Holdings, Inc. (DIRV) and their complete solutions to keep companies like Canopy Growth Corporation (CGC) and Aurora Cannabis Inc (NYSE:ACB) up to speed with the latest security-surveillance requirements.
Aurora Cannabis Inc (NYSE:ACB) announced they are completing the acquisition of the remaining interest in Hempco Food and Fiber Inc. This is a huge win for Aurora Cannabis Inc (NYSE:ACB) as Hempco just commissioned production of its new, state-of-the-are Nisku facility, a 56,000 square foot, 2.9 million kg per year hemp processing facility. Extensive security and surveillance systems will be needed to maintain strict legal requirements for hemp facilities.
Not to be outdone, Canopy Growth Corporation (CGC) announced the acquisition of one of Spain-based licensed cannabis producters, Cáñamo y Fibras Naturales, S.L. ("Cafina"
. ''The acquisition lays the foundation for Canopy Growth to expand its European production footprint into one of the most ideal growing regions in the world, complementing the Company's existing 430,000 square foot licensed production site in Odense, Denmark, as well as its world-class ISO 13485 internationally certified Storz and Bickel facility in Tütlingen, Germany.'' - Canopy Growth Corporation news release
Where 2018 was the year of hemp and marijuana legal and regulation battles across the globe, 2019 is setting up to be the year of exponential growth and acquisitions in the cannabis space, furthering the need for extensive and proven security-surveillance systems, such as those provided by DirectView Holdings, Inc. (DIRV).
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