Thoughtful Brands Inc (CSE:TBI) (OTCQB:PEMTF) (FRA:1WZ1), the renamed Mota Ventures, revealed on Tuesday that it saw its three months to August revenue jump 19% year-over-year, driven by the popularity of its immunity-boosting Nature's Exclusive CBD brand.
For the three summer months, the natural health products and e-commerce technology company, posted revenue of C$8,861,000.
Thoughtful Brands further broke out the revenue figure for each month, showing August revenue of C$3,809,000, with related expenses of C$3,652,000, July revenue of C$2,340,000 with related expenses of C$2,418,000, and June revenue of $2,712,000 with expenses of C$2,775,000.
The Vancouver-based company runs the popular Nature’s Exclusive brand that includes CBD oil drops, CBD gummies, CBD pain relief cream, CDB skin serum and CBD coffee. Building on the success of Nature's Exclusive, the company said it would continue to expand its portfolio in the nutraceutical and hemp-based CBD product space through the recent acquisitions of Golden Path and Wild Mariposa - two direct-to-consumer e-commerce brands offering natural health products in the US.
"By executing our meticulously planned growth strategy, the company was positioned for a productive August and is poised to embark on even more new ventures for the remainder of 2020," Thoughtful Brands CEO Ryan Hoggan said in a statement.
"With new consumer brands on our roster and new customers abroad, there are plenty of activities in the Thoughtful Brands pipeline to look forward to," he added.
Earlier in July, the company expanded its European presence through a joint venture with Franchise Cannabis Corp. Thoughtful Brands will now sell Franchise-manufactured CBD, hemp and cosmetic products in the European Union, Switzerland, Norway and the UK through its e-commerce platform. Franchise has two distribution facilities, exporting to over 18 countries and currently serves a network of over 1,500 pharmacies within Germany for medical cannabis sales.
In August, Thoughtful Brands launched Ecommerce Tech LLC a new wholly owned subsidiary in the US. Going forward, Ecommerce Tech will serve as the comprehensive operational engine for all Thoughtful Brands e-commerce ventures.
"Our powerful new software platform is another reason to eagerly anticipate what fall 2020 has in store for Thoughtful Brands," added Hoggan.
The company said the reported revenue numbers have not been audited.
Thoughtful Brands is a vertically integrated CBD and psychedelic medicine company, with operations in North America and South America, as well as Europe.
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