Sugarmade
Announces
June Performance,
Record Growth in Every Metric, Annualized Sales Pass
$6M
NEW YORK, NY -- July 1, 2020 -- InvestorsHub NewsWire
-- Sugarmade,
Inc. (OTCQB:SGMD)
("Sugarmade", "SGMD", or the "Company"),
and its BudCars Cannabis Delivery Service ("BudCars"), is
pleased
to provide current and prospective shareholders with BudCars
performance data for the month of June, which featured
over
$500K in
total sales, representing 36%
sequential monthly top-line growth,
with total sales and profits now growing by more than 30% m/m for
the third consecutive month.
-
Total
June BudCars
Sales
of
$502,903,
representing
36%
month-over-month Sales
growth (compared to May 2020 sales of $367K)
-
Total
June BudCars Gross Profits of $228K,
representing 31%
month-over-month Gross Profit growth (compared to May 2020 Gross
Profits of $174K)
-
Average
Daily Sales increased 41% m/m
to
$16,763
-
Total
Customer Tickets
increased 34% m/m to 4,207,
accelerating from 29% m/m growth
in
May
-
Average
Customer Order size increased 2.0%
to $119.54/order
"June was another breakout month for BudCars growth across
basically every single metric important to gauging our progress,"
stated Jimmy Chan, CEO of Sugarmade. "Our pricing improved. Our
average order improved. We did more business with more people and
booked a significant jump in gross profits while holding our 47%
gross margin level as volume increased. We look forward to
continued breakout growth in July."
The Company continues to see broad and rapid expansion that closes
out the first half of 2020 with a linear pace already at $6 million
in annualized run-rate for sales, and a second-derivative path
pointing to an
annualized
revenue
path above $21 million by year-end. This includes data-driven
projections for its Sacramento hub only. The Company continues to
believe this data provides meaningful insights for projecting
performance at its Los Angeles hub following launch, which should
contribute to significant further upside in second half 2020
financial performance projections.
Management also believes verticalization is a very promising avenue
through which to sharply widen margins based on its current
analysis. The Company has already moved to secure some cultivation
and manufacturing capacity, and management is targeting additional
license and production capacity acquisitions in the months
ahead.
Chan continued, "As we recently outlined, the California
cannabis
landscape is ripe for consolidation of dormant distressed
production assets, which plays powerfully into our verticalization
vision. And we look forward to providing further updates on our
progress in this direction in the very near future."
About
Sugarmade, Inc.
Sugarmade, Inc. (OTCQB:
SGMD) is a product and branding marketing company investing in
operations and technologies with disruptive potential. Our Brand
portfolio includes CarryOutsupplies.com, SugarRush™ and
Budcars.com. For more information please reference
www.Sugarmade.com.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking
statements" within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements also may be included in other publicly
available documents issued by the Company and in oral statements
made by our officers and representatives from time to time.
These forward-looking
statements are intended to provide management's current
expectations or plans for our future operating and financial
performance, based on assumptions currently believed to be valid.
They can be identified by the use of words such as "anticipate,"
"intend," "plan," "goal," "seek," "believe," "project," "estimate,"
"expect," "strategy," "future," "likely," "may," "should," "would,"
"could," "will" and other words of similar meaning in connection
with a discussion of future operating or financial performance.
Examples of forward looking statements include, among others,
statements relating to future sales, earnings, cash flows, results
of operations, uses of cash and other measures of financial
performance.
Because forward-looking statements relate to the future, they are
subject to inherent risks, uncertainties and other factors that may
cause the Company's actual results and financial condition to
differ materially from those expressed or implied in the
forward-looking statements. Such risks, uncertainties and other
factors include, among others. such as, but not limited to economic
conditions, changes in the laws or regulations, demand for products
and services of the company, the effects of competition and other
factors that could cause actual results to differ materially from
those projected or represented in the forward looking
statements.
Any forward-looking information provided in this release should be
considered with these factors in mind. We assume no obligation to
update any forward-looking statements contained in this
report.
Corporate
Contact:
Jimmy Chan
+1-(888)-982-1628
info@Sugarmade.com
Public
Relations:
Tiger Global
Management
info@TigerGMP.com
www.TigerGMP.com