LAS VEGAS , Sept. 10, 2019 /CNW/ – CLS Holdings USA , Inc. (OTCQB: CLSH, CSE: CLSH) (“CLS” or the ”Company”), a diversified cannabis company operating as Cannabis Life Sciences, is pleased to report record unaudited consolidated revenue of $1.16 million for the month of August 2019.
View photosOasis Cannabis Dispensary (CNW Group/CLS Holdings USA Inc)More
August 2019 Highlights
Record consolidated revenue of $1.16 million compared to $0.66 million in August 2018 , an increase of 77.1%.
Broken down as follow:
Record revenue from the Company’s Oasis Cannabis dispensary of $746,174 , an 84.1% increase over August 2018 dispensary revenue of $405,357 .
A 109.9% increase in dispensary customers, from 9,165 (average of 296 per day) in August 2018 to a record 19,235 (average of 620 per day) in August 2019 .
Revenue per SF of $426 compared to $232 per SF in August 2018 , an increase of 84.1%.
August 2019 dispensary gross margin of 50.64%, up from 36.67% in August 2018 .
Revenue from City Trees, the Company’s branded products and bulk flower division, of $417,908 , a 65.8% increase over August 2018 City Trees revenue of $252,134 .
August 2019 City Trees gross margin of 50.52%, up from 30.92% in August 2018 .
August 2019 consolidated gross margin of 50.61%, up from August 2018 consolidated gross margin of 34.25%.
According to Andrew Glashow , President and COO of CLS Holdings, “As the Nevada cannabis market continues to mature, we are seeing record results month over month. We have spent tireless hours to get to this point optimizing our two primary assets, Oasis Cannabis Dispensary and City Trees. While the market normally slows over the summer our growth has continued. As a result of the record number of dispensary customers
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