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General Cannabis' 3Q revenue stays above the $1M mark as its security segment blazes higher

The cannabis-related business services company saw its security segment revenue increase by 29%
Person wearing socks with a marijuana pattern
General Cannabis provides business services to the US cannabis industry, including an apparel segment

General Cannabis Corp’s (OTCQX:CANN) third-quarter revenue remained above the US$1 million mark for the second consecutive quarter as its security segment jumped double digits.

The Colorado-based company reported a net loss of US$0.12 per share on revenue of US$1.09 million compared with a net loss of US$0.08 per share on revenue of US$979,991 in the previous third quarter.

READ: Terra Tech upgrades facility to boost cannabis output, but its 3Q revenue takes a hit

General Cannabis provides a variety of services to the US cannabis industry, including security and cash transportation services, marketing consulting and apparel, operations consulting and products as well as finance and real estate.

“Our model of providing goods and services across the value chain continues to show promise as the legislative landscape changes throughout the United States,” said Chief Operating Officer Joe Hodas in the company’s press release.

Its security segment revenue jumped 29% to US$689,930 while its finance segment fell by nearly half to $16,858.

Shares of General Cannabis were up slightly to US$3.21 in Friday morning trading. 

Contact Lenore Fedow at [email protected]

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