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Delta 9 Record Q2 2021 Revenue, Up 29%: How Does the Rest of the Year Look?
Delta 9 Cannabis' revenue for the 2nd quarter of 2021 was up 29% to $16.75 million, compared with:
- $13.23 million for the first quarter of 2021.
- $13.01 million for the second quarter of 2020.
- Delta 9 revenues for the six-month period ending June 30, 2021, was $30 million up 21%, compared to $24.76 million for the same period last year.
Delta 9's chief executive officer, John Arbuthnot, was very proud of the company's Q2, 2021 results, with record top-line revenues and a seventh consecutive quarter of positive Adjusted EBITDA. Delta 9 will:
- Continue to grow its brick-and-mortar and online retail business strategy.
- Expand its turnkey Grow Pod sales into the US market with new cultivation partners.
- Continue to lower its cost of production which is currently at $0.65 per gram.
All three business units contributed to Delta 9's record revenue this quarter. The company anticipates continued growth in all three of its business segments units through the back half of 2021.
Delta 9 Cannabis placed 7th out of 448 participants on
The Globe and Mail's third annual ranking of Canada's top-growing Canadian companies. The survey ranked 448 participants based on three-year revenue growth. Delta 9 Cannabis earned its spot with three-year revenue growth of 5,413%.
John Arbuthnot, CEO and founder of Delta 9 Cannabis, has grown the company from $700,000 in sales in 2017 to over $60 million as of 2021, up 5,448%. The growth strategy for Delta 9 Cannabis is to double its retail store network to 35 stores and expand their turnkey
plug and play growing platforms in the US as the remaining 14 states legalize Cannabis.
