Record Growth in Every Metric, Annualized Sales Pass
NEW YORK, NY -- July 1, 2020 -- InvestorsHub NewsWire
("Sugarmade", "SGMD", or the "Company"),
and its BudCars Cannabis Delivery Service ("BudCars"), is
to provide current and prospective shareholders with BudCars
performance data for the month of June, which featured
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.
growth (compared to May 2020 sales of $367K)
June BudCars Gross Profits of $228K,
month-over-month Gross Profit growth (compared to May 2020 Gross
Profits of $174K)
Daily Sales increased 41% m/m
increased 34% m/m to 4,207,
accelerating from 29% m/m growth
Customer Order size increased 2.0%
"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
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
Chan continued, "As we recently outlined, the California
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."
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
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