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Charlotte’s Web (CSE: CWEB, OTCQX: CWBHF) CBD Sales Grew 57% to $17.7 Million in Q3 - RICH TV LIVE - November 27, 2018 - Charlotte’s Web Holdings, Inc. Reports Third Quarter 2018 Financial Results Q3 revenue of $17.7 million on 57% year-over-year growth Year-to-date revenue reaches $48.0 million with 34% Adjusted EBITDA BOULDER, CO, Nov. 27, 2018 /PRNewswire/ – Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or the “Company”) (CSE:CWEB, OTCQX:CWBHF), the market share leader in hemp-based CBD wellness products, today reported financial results for the third quarter and nine-months ended September 30, 2018. All amounts are expressed in United States dollars. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures. Highlights of Third Quarter 2018 Results versus Third Quarter 2017 Results Organic revenue growth of 57% to $17.7 million Gross profit (before biological asset adjustments) increased 54% to $13.8 million, or 78% of consolidated revenue Adjusted EBITDA increased 23% to $5.4 million, or 31% of consolidated revenue Significant marketing investment made in brand relaunch to be leveraged throughout 2019 Completed Initial Public Offering generating net proceeds of $71.5 million Highlights of Nine-Months 2018 Results versus Nine-Months 2017 Results Organic revenue growth of 75% to $48.0 million Gross profit (before biological asset adjustments) increased 80% to $37.1 million, or 77% of consolidated revenue Adjusted EBITDA increased 71% to $16.2 million, or 34% of consolidated revenue During the third quarter we completed a successful initial public offering and private placement that generated significant capital for the Company that is being deployed to accelerate our growth in the hemp-derived CBD sector. This capital is being used primarily to expand the Company’s cultivation and production capacities to meet the increasing demand for our industry leading Charlotte’s Web products, both domestically and internationally. Subscribe - https://www.youtube.com/c/RICHTVLIVE Visit - http://www.richtvlive.com/ a one-stop shop for cryptocurrency, stocks, sports, travel and trending topics. #richtvlive #cweb #cbds Join the RICH TV LIVE FREE Social Media Community - Download the Amino app on your phone or computer and follow the link - https://aminoapps.com/c/RICHTVLIVE/home/ Join the Conversation get the RICH TV LIVE app at Google Play - https://play.google.com/store/apps/details?id=com.app.richtvlive iPhone App Store - https://itunes.apple.com/us/app/richtvlive/id1212158240?Is=1&mt=8 Popular Uploads - https://goo.gl/tbvXGg Most Recent Upload - https://goo.gl/unKXBy YouTube Channel Page - https://goo.gl/yUdG7w Subscribe - https://goo.gl/q2tLnn Rich TV Live Playlist - https://goo.gl/e116JF YouTube support Tubebuddy - https://www.tubebuddy.com/RICHTVLIVE Disclaimer Rich TV's company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in Rich TV reports company profiles or other investor relations materials and presentations are subject to change. Rich TV and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time. Investing is inherently risky. Rich TV is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print. We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov.
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What is CBN, the cousin cannabinoid of CBD, read this https://cannabis.net/blog/medical/what-is-cannabinol-cbn
