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Kush Bottles Inc (OTCMKTS:KSHB) Management Rejoices On Account Of Strong Financial Report

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Kush Bottles Inc (

Kush Bottles Inc (OTCMKTS:KSHB) recently reported its financial report card, in the month of January 2017 for the fiscal quarter that ended on 30 November 2016. The company has managed to woo the investors and interested parties with the financial numbers it has. While its top line is a growth story with approximately 45% on YoY basis in the quarter, the margins have gone up too. The impressive take is that the liquidity position of company has become better with more cash reflected in the books and lesser net loss.

Enthusiasm observed in management’s tone

The management’s tone reflected a positive tone accompanied with enthusiasm. The co-founder and CEO of company, Nick Kovacevich said, “Our first fiscal quarter began on a strong note, with record revenue and the strongest cash and working capital positions in our company’s history.”

He attributes the positive financial figures to growth in California and Washington, which is heading upward, even now. The positive financial growth of company is also a result of the stronger customer base and upward moving average order size and number of orders.

Kush Bottles Inc also sells products through e-commerce platform and the better margin of company can also be attributed to increasing e-commerce revenues, which continue to flourish. Nick Kovacevich said, “Our custom branded packaging revenues increased nearly three times from last year and our SKU count grew by 73%.”

New cloud computing contributing to revenue growth

Kush Bottles Inc CEO explains that in the recent past, the company implemented CRM and ERP system, the new cloud-based accounting mechanisms. These were put to use in the same quarter for which results have been announced. This has largely contributed to the positive revenue growth of company.

Apart from this, the company attributes positive revenue growth to its new and larger facility in Washington. This, Nick Kovacevich states “has helped to accommodate continued growth.”

The recent past and the last quarter has been specifically revenue generating for the company. This is so because a range of new things have propped up. The company has also expanded its sales force so as to reach newer markets where cannabis was legalized in November 2016 election.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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