Helix TCS Inc (OTCMKTS:HLIX) announced Thursday it came in at Number 32 on Deloitte’s Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.
Over the last three years, by maintaining a strong focus on operational excellence and a prudent M&A strategy, Helix said it has achieved 3,805% revenue growth
“We are honored to receive the distinction of being included on Deloitte’s Technology Fast 500,” said CEO Zachary Venegas in a statement.
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“Helix TCS’ growth and success are due to our focus on executing against our strategic plan, which includes M&A opportunities supported by consistent improvement in servicing our customers,” he added.
Venegas noted that the company has “increased cash flow from operations, revenue and market share growth across an expanding number of business lines, and disciplined spending,”
He also pointed out that Helix has a “unique cannabis industry position of not having a fundraising business model while moving towards profitability. Helix TCS represents a strong value opportunity given the months-long, indiscriminate industry sell off.”
Deloitte’s Technology Fast 500 is now in its 25th year. Winners are selected based on percentage fiscal year revenue growth from 2015 to 2018.
To be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $US50,000 and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
“As technology innovation trends towards ‘everything as a service,’ it’s no surprise that software companies dominate the winners list yet again this year,” said Mohana Dissanayake, partner with Deloitte.
“What’s exciting about celebrating 25 years of the Tech Fast 500 is we now have a quarter century of innovation stories to draw and reflect upon. These are the companies that push boundaries, help organizations become more efficient and productive, and ultimately enable businesses to drive growth and revenue. We congratulate all the well-deserving winners.”
Denver-based Helix TCS is a leading provider of critical infrastructure services, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Its products reach over 2,000 customer locations in 38 states and seven countries and have processed over $18 billion in cannabis sales.
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