POINT ROBERTS, Wash. and DELTA, British Columbia, April 08, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a market snapshot discussing how the recent influx of positive 2018 financials have helped embolden the CBD market and showcase its progress in spite of unclear government regulations.
As discussed in a recent Forbes article “the two biggest pharmacy chains in the United States decided that CBD was worth exploring. Both CVS and Walgreens announced – within days of each other – that they would begin selling hemp-derived CBD products in 2,300 stores between the two nationwide chains. While you won’t find the trendy CBD products listed at these drugstores, their shelves will soon contain a variety of topical applications like creams, lotions, salves, patches, and sprays.”
Continued: “The fact that nationally recognized brands are putting their weight behind cannabis-tangential products is almost certainly a harbinger of things to come – even if the complex reality of FDA regulations forces the drugstore chains to limit their CBD product lines to topical applications for practical and legal reasons.”
This endorsement of the CBD sector is only emboldened further with the recent string of positive 2018 financials coming out
NutraLife Biosciences, Inc. (OTCQB: NLBS), a company that develops, manufactures, and distributes nutraceutical, wellness, and CBD products, under the NutraHempCBD brand and oral spray vitamins and supplements under the NutraSpray brand, recently announced revenue growth of approximately 107.3% in 2018, the filing of its Annual Report on Form 10-K and audited financial results. Some of the highlights from the Company’s financial results reported in its Form 10-K for the year ended December 31, 2018 include: increased sales to $3,711,327 for the year ended December 31, 2018 compared to $1,790,168 for the year ended December 31, 2017, an increase of approximately 107.3%, cost of sales was $2,211,039 compared to $1,055,042 for the years ended December 31, 2018 and 2017, respectively, or a 109.6% increase, gross margin for the year ended December 31, 2018 was $1,500,288, a 104.1% increase over the year ended December 31, 2017 and sales of CBD products increased from approximately $1,380,000 for the year ended December 31, 2017 to $2,400,000 for the year ended December 31, 2018 representing 77% and 78% of our revenues for such periods.
Edgar Ward, Founder and Chief Executive Officer of NutraLife Biosciences recently commented on the CVS CBD news, saying “It is encouraging to see that mainstream retail giants like CVS are offering hemp derived CBD products to consumers.”
Charlotte's Web Holdings Inc. (CSE: CWEB) (OTCQX: CWBHF), the market share leader in hemp-derived CBD extract products, recently reported financial results for the fourth quarter and year ended December 31, 2018. Some of the highlights of Fourth Quarter 2018 Results versus Fourth Quarter 2017 Results were: an organic consolidated revenue growth of 71% to $21.5 million (up 21% QoQ), gross profit increased 63% to $16.3 million, or 76% of consolidated revenue, adjusted EBITDA decreased from 37% to 20% of consolidated revenue, due to extraordinary items and 57% of revenue from eCommerce.
Village Farms International, Inc. (TSX: VFF) (NASDAQ: VFF) just recently announced its financial results for the fourth quarter and year ended December 31, 2018.
Some of the financial and corporate highlights for the Fourth Quarter Ended December 31, 2018 included: a net income improved of US$0.3 million, or US$0.01 per share, sales, including the Company's proportionate share of Pure Sunfarms' sales, increased to US$40.6 million compared with US$36.9 million, EBITDA, was US$1.5 million compared with US$2.6 million. EBITDA included $0.9 million from Pure Sunfarms and the Company's common shares commenced trading on the Nasdaq Capital Market under the symbol "VFF".
While most eyes are currently on the US CBD market, Aphria Inc. (TSX: APHA) (NYSE: APHA) through its subsidiary Aphria Deutschland GmbH is focusing on other markets having recently launched the Company's first CBD-based nutraceutical, the first product in its CBD-based cosmetics line for the German market. Featuring CBD derived from hemp, the CannRelief brand of products are being produced in the European Union and distributed by the Company's subsidiary, CC Pharma, which has access to more than 13,000 pharmacies throughout Germany.
Before we see more major chains really double down on the cannabis landscape, a new regulatory framework will have to be developed and implemented, providing guidance for what these companies can and can’t do. Though we may be a long way off from that framework coming into place, a continued string of positive financials and interest from large parties like this is encouraging to see and helps give credence to the industry.
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