$CLSH CLS Holdings USA May sales up 87.7% Y/Y
Jun. 15, 2021 9:54 AM ETCLS Holdings USA, Inc. (CLSH)By: Meghavi Singh, SA News Editor
CLS Holdings USA (OTCQB:CLSH) reports May net revenues which grew 87.7% Y/Y to $1.9M and gross margin rate of 53.6%, maintaining the goal of 50% or higher.
Retail division, Oasis Cannabis increased by 59.41% Y/Y in monthly net revenue, alongside a 59.9% increase in the number of transactions processed.
Branded wholesale division, City Trees, recorded a 231.6% increase in Y/Y net revenue and by 80.6% over May 2019.
The average tickets at the dispensary rose by 1% Y/Y in May 2021 and by 39.3% over May 2019.
The dispensary processed an average of 22,576 transactions in the month of May 2021, a 59.9% increase over May 2020.
Oasis expects to see continued growth through the summer in tandem with a drastic increase in tourism to Las Vegas and even more operating restrictions lifted in June 2021.
The Company also began production of City Trees products in New Mexico through its partnership with local producer, Herbal Edibles, in the month of May and anticipates continued growth in coming months, with multiple new product releases scheduled for the first fiscal quarter of 2021 and new licensing agreements expected to materialize later this year.
https://seekingalpha.com/news/3706476-cls-hol...-up-877-yy
Jun. 15, 2021 9:54 AM ETCLS Holdings USA, Inc. (CLSH)By: Meghavi Singh, SA News Editor
CLS Holdings USA (OTCQB:CLSH) reports May net revenues which grew 87.7% Y/Y to $1.9M and gross margin rate of 53.6%, maintaining the goal of 50% or higher.
Retail division, Oasis Cannabis increased by 59.41% Y/Y in monthly net revenue, alongside a 59.9% increase in the number of transactions processed.
Branded wholesale division, City Trees, recorded a 231.6% increase in Y/Y net revenue and by 80.6% over May 2019.
The average tickets at the dispensary rose by 1% Y/Y in May 2021 and by 39.3% over May 2019.
The dispensary processed an average of 22,576 transactions in the month of May 2021, a 59.9% increase over May 2020.
Oasis expects to see continued growth through the summer in tandem with a drastic increase in tourism to Las Vegas and even more operating restrictions lifted in June 2021.
The Company also began production of City Trees products in New Mexico through its partnership with local producer, Herbal Edibles, in the month of May and anticipates continued growth in coming months, with multiple new product releases scheduled for the first fiscal quarter of 2021 and new licensing agreements expected to materialize later this year.
https://seekingalpha.com/news/3706476-cls-hol...-up-877-yy
