Leading CBD brand reports solid financial position due to increasing revenues,
controlled expenses, expanding distribution and improved customer service
and fulfillment capabilities
LOS ANGELES, July 25, 2018 – Green Gorilla™, a leading manufacturer and brand of cannabidiol (CBD) products, reports its profitability is increasing due to sales growth, controlled expenses, expanding distribution and a recently improved customer service and fulfillment infrastructure.
The company’s overall revenue for the first half of 2018 increased 275 percent from the same period in 2017, while expenses only increased 150 percent. The company’s revenue for 2017 increased approximately 500 percent from 2016, with a minimal 5 percent increase in expenses. Green Gorilla’s U.S. operations are cash flow positive with the company expecting even greater profitability for the second half of 2018 as regulators continue to ease restrictions on the production, distribution and sales of CBD products across the country due to soaring consumer demand.
“Green Gorilla is poised to become one of the few CBD companies that will be able to operate successfully and profitably after the dust settles and the business of manufacturing and distributing CBD products moves to the next level,” said Steven Saxton, founder and CEO of Green Gorilla. “Right now, we are in the wild west stage of the CBD industry; in order for a company to not only survive but to flourish, it has to be supported by strong executive management, sound business practices and the financial acumen to grow profitably and intelligently.”
Saxton added that “with the anticipated renewal of the 2018 Farm Bill in September, which includes hemp and all derivatives making hemp cannabinoids (CBD) federally legal, this should exponentially excel national growth to the CBD industry.”
In addition to the natural supplements market, Green Gorilla™ recently expanded its core Hemp & Olive™ brand into the pet industry, offering a full line of canine and equine CBD products. Most recently, Green Gorilla™ launched the first organic freeze-dried CBD dog treats which will be sold at pet retailers across the U.S.
Green Gorilla™ has increased its customer service and fulfillment capabilities by adding new staff, technology and infrastructure to be able to process and ship orders faster, more efficiently and less expensively. In addition, the company’s customer service department continues to improve its capacity to handle the ever-growing number of consumer inquiries about CBD products and their use.
Green Gorilla™ is an international brand in the hemp and cannabis industries and a leading manufacturer of cannabidiol (CBD) organic supplements, topical, pet and horse care products using GG BioEnhanced Complex™ for the highest bioavailability. The company markets its supplements and topical products under the brand Hemp & Olive™ and its organic biodynamic agricultural products for the cannabis industry under the Master Grower™ brand. Green Gorilla™ was established in 2013 by founder Steven Saxton. Green Gorilla™ products are sold at 1,000+ retailers in the U.S. and online. More information is available at ILoveGreenGorilla.com, Twitter: @GreenGorillaInc, Instagram: @GreenGorilla, Facebook: /ILoveGreenGorilla, GreenGorilla.com.br (Brazil), GreenGorilla.ca (Canada) and Mastergrower.pro. Third-party lab tests of Green Gorilla™ CBD products are available at ILoveGreenGorilla.com/science.
Note to media: Images are available for download at HonigCompany.com/media.
FORWARD-LOOKING STATEMENTS: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned that all forward-looking statements contained herein are reasonable, any assumption could be inaccurate and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.
Categories: Green Gorilla