Wall Street Signals: CLS Holdings USA Inc. (OTCMKTS: CLSH) Announces 63.1% YoY Net revenue Increase for its Nevada Subsidiaries

CLS Holdings USA Inc. (OTCMKTS: CLSH) Announces 63.1% YoY Net revenue Increase for its Nevada Subsidiaries

 

CLS Holdings USA Inc. (OTCMKTS: CLSH) Announces 63.1% YoY Net revenue Increase for its Nevada Subsidiaries


Post Views: 2
CLS Holdings USA Inc. (OTCMKTS: CLSH) has announced operational and financial results for June 2021 for its wholly-owned subsidiaries in Nevada, where net revenue was $1.8 million with a gross margin of 56.2%. In addition, the results indicated 8.9% gross margin increases and 63.1% revenue increase YoY.

a retail auxiliary revealed a 48.9% month-to-month income increment YoY and a 36% increment in handled exchanges. The marked discount unit, City Trees, revealed a 110.7% month-to-month expansion in YoY net income. The joined month-to-month net income from the two units was up 63.1% YoY. Albeit the market is very serious, the organization's presentation has surpassed Nevada's normal. 

The outstanding outcomes are a high number of nearby Oasis clients assessed to be around 80%, with just 20% credited to vacationers. In particular, there was a 10% increment in vacationer numbers visiting dispensaries contrasted with a year prior.

Oasis Cannabis reported 48.9% revenue growth in June. 

Oasis Cannabis, a retail subsidiary, reported a 48.9% monthly revenue increase YoY and a 36% increase in processed transactions. The branded wholesale unit, City Trees, reported a 110.7% monthly increase in YoY net revenue. The combined monthly net revenue from both units was up 63.1% YoY. Although the market is extremely competitive, the company’s performance has exceeded Nevada’s average. 

The exceptional results are a high number of local Oasis customers estimated to be around 80%, with only 20% attributed to tourists. Most importantly, there was a 10% increase in tourist numbers visiting dispensaries compared to a year ago.



Andrew Glashow, CLS COO & President, said, “This first month of our fiscal year was full of incredible opportunities for our company’s growth. Oasis is buzzing with consistent local and tourist traffic, and our City Trees brand has maintained huge year-over-year sales increases each month for the last year. We’re optimistic that our successes with City Trees and Oasis will enable us to grow our portfolio of brands significantly over the coming months.”

Sasha Palatnikov endorsed CLS
 
CLS announced through the City brand a limited endorsement of Sasha Palatnikov, UFC welterweight fighter, following the organization’s easing of restrictions in the use of cannabis for fighters. The Nevada State Athletic Commission bolstered the endorsement following its decision to stop restrictions on marijuana use by UFC fighters. In addition, the market interest is growing for the City Trees brand and CLS’ toll processing capabilities of its North Las Vegas extraction facility. As a result, the company is charting a path for future growth and business strategy execution.