$CLSH March 15, 2022 / CLS Holdings USA, Inc. (OTCQB:CLSH) (CSE:CLSH), the ''Company'' or ''CLS'', a diversified cannabis company operating as Cannabis Life Sciences, today announced a strong start to the new year with the release of the financial and operational results for its Nevada wholly owned subsidiaries for January and February 2022. Despite decreasing overall retail numbers in the state of Nevada, BDS Analytics data for City Trees showed remarkable growth and numbers, as CLS continues to surpass expectations with its revenue and gross profit margins.
CLS Nevada January and February 2022 Financial and Operational Highlights
BDS Analytics Data for City Trees Sales for January 2022
City Trees Total Retail Sales for January 2022 were $1.05 million versus $340,000 for January 2021, an increase of 195.5%
City Trees Total Units Sold for January 2022 were up 47.8% from the comparable month of the previous year
During January 2022, City Trees Brand Share was 6.3% of the entire cannabis market in the state of Nevada
City Trees ranked as the #2 brand in Total Sales and Total units sold across the entire concentrate category in the state of Nevada during January 2022
City Trees continued to be the #1 Tincture brand in all Nevada during January 2022
CLS' net revenue in February was $1.98 million, an increase of 32% YOY and by 72% from 2020
At 55%, CLS continued to achieve its goal of a greater than 50% gross profit margin in February with Oasis attaining 53% and City Trees achieving 57% gross profit margin
City Trees achieved net revenue of $812k in February an increase 122% YOY
CLS will be holding its first ever quarterly investor call this April
CLS' retail division, Oasis cannabis saw an increase of net revenue of 3.2% YOY and 32% over 2020 while the Nevada cannabis market was down by almost 10% in February 2022
The BDS Analytics data for January 2022, casted a bright spotlight on CLS' branded division, City Trees, which reached over a million dollars in retail sales, demonstrating a 195.5% increase YOY and a 205% increase over 2020. City Trees total units sold were up almost 50% YOY and the brand boasted a 6.2% Brand Share by units sold and 6.3% Brand Share by dollars sold within the entire cannabis market in Nevada. City Trees' overall performance continues to position the brand at #2 in the overall concentrate category in Nevada and as the #1 tincture brand in the state, according to BDS Analytics. It's important to note that all the growth and success has happened organically, from investing within and expanding the brand without any acquisitions.
CLS earned just under 2 million dollars in net revenue during February, 2022 which represented a 32% increase YOY and a 72% increase from 2020. The wholesale branded division at City Trees continued to show accelerated growth with net revenues during February, 2022 with an increase of 122% YOY and a 205% increase from 2020. The Company continued to achieve its goal of a greater than 50% gross profit margin during February, 2022, achieving 55% for the month of February. CLS' retail division, Oasis, attained a 53% gross profit margin during February, 2022, while the branded wholesale division at City Trees maintained a 57% gross profit margin.
CLS Nevada January and February 2022 Financial and Operational Highlights
BDS Analytics Data for City Trees Sales for January 2022
City Trees Total Retail Sales for January 2022 were $1.05 million versus $340,000 for January 2021, an increase of 195.5%
City Trees Total Units Sold for January 2022 were up 47.8% from the comparable month of the previous year
During January 2022, City Trees Brand Share was 6.3% of the entire cannabis market in the state of Nevada
City Trees ranked as the #2 brand in Total Sales and Total units sold across the entire concentrate category in the state of Nevada during January 2022
City Trees continued to be the #1 Tincture brand in all Nevada during January 2022
CLS' net revenue in February was $1.98 million, an increase of 32% YOY and by 72% from 2020
At 55%, CLS continued to achieve its goal of a greater than 50% gross profit margin in February with Oasis attaining 53% and City Trees achieving 57% gross profit margin
City Trees achieved net revenue of $812k in February an increase 122% YOY
CLS will be holding its first ever quarterly investor call this April
CLS' retail division, Oasis cannabis saw an increase of net revenue of 3.2% YOY and 32% over 2020 while the Nevada cannabis market was down by almost 10% in February 2022
The BDS Analytics data for January 2022, casted a bright spotlight on CLS' branded division, City Trees, which reached over a million dollars in retail sales, demonstrating a 195.5% increase YOY and a 205% increase over 2020. City Trees total units sold were up almost 50% YOY and the brand boasted a 6.2% Brand Share by units sold and 6.3% Brand Share by dollars sold within the entire cannabis market in Nevada. City Trees' overall performance continues to position the brand at #2 in the overall concentrate category in Nevada and as the #1 tincture brand in the state, according to BDS Analytics. It's important to note that all the growth and success has happened organically, from investing within and expanding the brand without any acquisitions.
CLS earned just under 2 million dollars in net revenue during February, 2022 which represented a 32% increase YOY and a 72% increase from 2020. The wholesale branded division at City Trees continued to show accelerated growth with net revenues during February, 2022 with an increase of 122% YOY and a 205% increase from 2020. The Company continued to achieve its goal of a greater than 50% gross profit margin during February, 2022, achieving 55% for the month of February. CLS' retail division, Oasis, attained a 53% gross profit margin during February, 2022, while the branded wholesale division at City Trees maintained a 57% gross profit margin.
